My friend and I share an apartment in Dallas, TX. Will her renter’s policy cover my possessions?

If you rent an apartment, house, or condominium in Dallas, Texas, you probably have a lot of valuable items that could easily be stolen or lost in a disaster. While a homeowner can cover their items in their homeowner’s insurance policy, your landlord’s insurance policy will not cover your personal items if they are destroyed. This is why it is important for you and your roommate to understand the ins and outs of renter’s insurance.

What Renter‘s Insurance Covers

Renter’s insurance is a form of insurance that covers the belongings of tenants of a rental property. If your rented home is destroyed by theft, vandalism, or a natural disaster, renter’s insurance will compensate you for the value of any destroyed items that are covered under the policy. If a friend or visitor is injured while visiting your home, renter’s insurance can also offer liability protection so that you’re protected against lawsuits.

Roommates Under Renter‘s Insurance

Renter’s insurance policies don’t just automatically extend to cover the belongings of you and your roommate, so you will need to get onto your roommate’s policy to get covered. However, it is also possible to get covered under a separate policy if you prefer to have your own insurance plan.

How an Independent Agent Can Help

Because most people are less aware of renter’s insurance, it can be difficult for first-time policyholders to navigate through the options and determine which of their possessions will be covered. It can also be difficult to determine whether it will be beneficial to obtain a joint or individual plan to cover all of your possessions. An independent agent can help you decide whether it’s a good idea to share a plan with your friend or whether you would save by purchasing your own separate policy. So contact us today to speak with an independent agent about renter’s insurance.