There are a lot of different renter’s insurance companies in Texas, so it can be hard to know which one is the best for you. That’s why we’ve put together a list of the top 8 best renter’s insurance companies in Texas, based on customer reviews and ratings.
Renter’s insurance is important because it protects your belongings in the event of a fire, theft, or other disaster. It also covers you if someone is injured in your home. A good renter’s insurance policy will be affordable and provide the coverage you need.
- What is Renters Insurance
- Learn about the Top best renter’s insurance companies in Texas
- What Does Renters Insurance Cover?
What is Renters Insurance
Renters insurance is a low-cost way to protect your assets in the event of a natural disaster or unexpected event. It is especially useful in the event of a burglary, fire, or destruction caused by extreme weather.
Top 8 best renter’s insurance companies in Texas
Renters insurance is a type of insurance that covers your personal belongings if they are damaged or stolen. It also provides liability coverage if someone is injured while on your property.
To help you make the best decision for your needs, I’ve compiled a list of Texas’s top 8 best renter insurance companies. I also considered factors such as price, coverage, and reputation. Below is the list of top best insurance companies in Texas
Chubb serves high-net-worth renters who depend on the insurer to cover the cost of their pricey possessions, such as jewelry and fine art.
If you want to protect these priceless items completely, you can increase your coverage by the amount you choose.
Despite having one of the highest premium rates, Chubb offers a variety of discounts that can help you pay less.
You are less likely to file a claim for a loss if your home is adequately secured against fire, burglary, and other risks.
According to Chubb, you can save more money the safer your home is.
The discounts that can reduce your premium are listed below. As you can see, the majority are for home protection. The best part of the discounts is their complete transparency, which allows you to see exactly how much you’ll save:
- You can save 7% by installing a central station burglar alarm.
- You can save 7% by using fire alarms.
- You can save 5% if your rental is in a gated neighborhood that is guarded.
- You can save 5% if the gated community has a 24-hour patrol service that responds to your unit’s burglar and fire alarms.
- You can save 5% if your rental building has authorized security.
- You can save 5% if your building has certified sprinklers.
- You can save 10% if CHUBB has insured your rental and there have been no claims for three years or longer.
- You can save 10% if you combine your rental with auto insurance.
- Accessible internationally and in all 50 states.
- Premium policyholders who need repairs after a claim can pick the contractors and landscape designers they want.
- Rich families can get customized insurance (at a cost).
- Provides all customers with free home evaluations.
- Below-average levels of customer complaints (NAIC).
- The Chubb Masterpiece coverage is expensive,
- since the insurance is intended to protect expensive homes, the cost of the policy is also frequently high.
- No instant quote is available online; you must call an agent.
Lemonade is well-known for its exclusive online presence. Because of AI, everything about your renter’s insurance is done online or on the company’s app, from getting a quote to filing a claim, checking your policy, and paying your bill.
Lemonade renters insurance is the ideal solution for low-cost protection against theft, fire, and other disasters. The basic plan is only $5 per month with no hidden fees; however, additional options are always available at a cost if you require more features.
Lemonade’s renter’s insurance is not only inexpensive and comprehensive, but the company also has a charitable side that we appreciate. Every premium is donated to a nonprofit organization of the policyholder’s choice.
- Simple-to-use website and app.
- You save time by doing everything online.
- The ability to sign up for coverage in a matter of minutes.
- Low-cost renters insurance.
- You are unable to contact a live person.
- You cannot save money by bundling with auto insurance unless you live in Illinois.
- There is no nationwide coverage.
- Only one type of discount is available.
3. State Farm
State Farm is one of the best Texas renters insurance companies. The company provides low-cost renters insurance as well as a variety of discounts.
Renters, for example, may be eligible for a discount if they have a home renters insurance policy. Renters may also be eligible for a discount if they live in an apartment.
Members of the military and seniors are also eligible for discounts from State Farm. As a result, Texas renters can save money on renters insurance by going with State Farm.
State Farm’s average renter’s insurance cost is only $10 per month, compared to $19 in Texas.
- Excellent for customers who want to speak with a local agent
- agents provide personalized service.
- Online quote via the simple web portal.
- Option for pet insurance.
- Has fewer complaints than its competitors on average.
- Does not provide replacement cost coverage.
- Provides fewer discounts than competitors.
- Provides only two additional coverage options beyond basic coverage
- identity theft protection and extended liability.
Travelers provide Texas renters insurance to help protect your belongings during covered events such as fire, smoke, theft, water damage, and more.
Even if you don’t own your home or apartment, renters insurance can provide peace of mind by assisting in the replacement of your belongings if they are damaged or destroyed. In addition, if someone is injured in your home, renters insurance may help cover their medical expenses.
Whether you live in Houston, Dallas, San Antonio, or somewhere else in Texas, Travelers has the renter’s insurance coverage you require.
It even provides some coverage options that other insurers do not.
Housing Improvements Coverage
If your landlord allows you to make changes or upgrades to your rental, such as installing wallpaper, the coverage will pay if a covered peril damages it.
Travelers will cover the cost of repairs if your dishwasher malfunctions or your washing machine breaks.
Water backup damage occurs when a drain or sewer backs up or when a sump pump fails, and water enters your rental as a result of heavy rain, among other things. This add-on protects your property from damage.
Other Coverage Options include:
- Additional coverage package
- Personal property replacement
- Identity fraud expense
- Valuable item coverage
- Extended liability
- Excellent coverage options.
- Claims and customer service are available 24 hours a day, seven days a week; quotes are limited.
- Practical features on the website and app.
- Several discounts are available.
- You can only purchase policy annually rather than every month; this may be difficult for people to come up with cash all at once.
- Fewer add-ons than you may expect.
- Can’t go below $30,000 of personal property.
- Need to call to get a quote in some states.
5. Liberty Mutual
Liberty Mutual provides renters insurance at very reasonable rates, beginning at $5 per month.
Liberty Mutual also offers add-ons or riders that allow you to customize your coverage to meet your specific needs.
In Texas, for example, renters insurance riders are available that provide extra coverage for items such as jewelry, furs, computers, and other electronics. This rider is available for an additional $4 per month premium.
Liberty Mutual Renters Insurance Coverage
Blanket jewelry coverage.
This additional coverage is specifically designed to protect expensive jewelry. If your diamond ring is damaged or stolen, you’ll have enough coverage to fully replace it, unlike a standard policy that only pays up to the limit.
Liberty Mutual’s basic renter’s policy includes ACV (actual cash value). This means that if your belongings are damaged as a result of a covered peril, Liberty will only pay you the depreciated value.
To get a better deal, purchase replacement cost coverage.
With this add-on, Liberty will pay the full cost of replacing a lost or damaged item.
As a result, if you purchased your laptop three years ago, ACV will only cover the depreciated value if it is lost or damaged.
On the other hand, a replacement cost will pay for a brand-new laptop similar to the one you previously owned.
However, while Liberty provides some fantastic add-ons, keep in mind that each one comes at a cost and will raise your premium.
The good news is that Liberty provides discounts to help you lower your rate.
- Low rates.
- Comprehensive coverage tailored to your specific requirements.
- Simple claim processing.
- A multi-policy discount.
- It is available in all 50 states as well as Washington, D.C.
- Tuition insurance is a one-of-a-kind policy that covers illnesses, unforeseeable accidents, and mental health conditions such as mood disorders and anxiety issues.
- The standard policy does not cover water damage.
- Additional coverage for flooding damage is recommended for Texas renters.
- Personal property coverage is limited to $25,000 per person.
- The availability of discounts varies by state.
- Mixed feedback on customer service.
Progressive is an excellent option for named peril coverage. There is transparency, and you do not have to guess what your policy’s peril includes because each peril is specified.
Most perils are standard, but Progressive goes above and beyond by providing comprehensive named peril coverage:
- Fire and smoke
- Theft and vandalism
- Car or aircraft crashing into your home
- Falling trees or other objects
- Weight of snow, sleet, or ice
- Water damage
Natural disasters are the most frequently mentioned threats. Water damage is covered, but flooding damage is not. This is something that every insurance policy excludes.
Because flooding is Texas’s most common natural disaster, you should seriously consider purchasing flood insurance.
And, because natural disasters such as high winds, tornadoes, and tropical storms, to name a few, are common in Texas, Progressive’s named perils will help keep you protected.
- Customer service is available 24 hours a day, seven days a week. •
- Contacting the insurer is simple: web portal, mobile app, online chat, and phone.
- Many discounts
- HomeShield provides enhanced coverage for collections, watercraft, firearm theft, and business property.
- Sells renters insurance via a subsidiary or third party, which may lead to confusion about who is servicing the policy.
- Policy coverage can be costly without discounts.
- The first month of coverage is costly because the down payment includes additional fees to begin coverage.
- To obtain a quote, you must provide your social security number.
Allstate is well-known for a variety of reasons. It provides nationwide coverage, low rates, and numerous discounts.
Renters’ insurance from Allstate can be combined with other policies, such as auto or life insurance, to receive a discount. After bundling, the basic renter’s insurance policy starts at $4 per month, making it a very affordable option for Texas renters.
This makes it an appealing option for renters looking for comprehensive coverage at a low cost.
Allstate also provides a discount for home renters insurance in Texas for those looking for even more savings.
Apartment dwellers who choose Allstate can save up to 10% on their renter’s insurance premiums.
Furthermore, if your rental is damaged by a covered peril, such as fire, and you are unable to live there because it must be rebuilt, your standard insurance policy will cover temporary living expenses.
These include hotel or motel stays, restaurant meals, and many others.
- If you combine your renters and auto insurance policies, you will save 10% on your auto policy and 25% on your renter’s policy.
- You get a discount if you are retired or over the age of 55.
- Various options for customizing your deductibles and coverages.
- The website is useful, resourceful, and simple to use.
- Replacement cost coverage necessitates a higher premium.
- Only after bundling and applying specific discounts is it affordable.
- Certain states may not be eligible for discounts or policies.
- Not as inexpensive as other companies
Nationwide provides Texas renters insurance to protect your belongings in the event of a covered loss.
Nationwide renters insurance policies cover liability, personal property, and extra living expenses, and you can tailor your coverage to meet your specific requirements.
We went with Nationwide because it’s nationwide insurance for renters that acts like a local insurance company.
Its agents can provide answers to these and other questions.
Rather than having a single customer service call center in a foreign country, the company employs local agents in most Texas cities.
That means personalized assistance coverage from a local agent for famous Texas cities like Houston and Dallas and coverage for cities you’ve probably never heard of, like Bowie and Laredo.
Another benefit that Nationwide provides is the On Your Side consultation, which is free of charge annually and includes insurance assessments to ensure you are getting the right amount of coverage or receiving all possible discounts.
- The website provides online quotes to save you time.
- You can also submit your claim online.
- A multi-policy discount is available if you have both renters and auto insurance coverage.
- Costlier than comparable insurers.
- Average customer satisfaction.
- Provides sewage and drain backup coverage as an add-on only.
- High premium; the standard policy costs around $20 per month.
- Premiums are thus higher than the national average.
What Does Renters Insurance Cover?
Liability, theft, medical expenses, and loss of use are all covered by Texas’s typical renter’s insurance policy. The standard policy is the same as what other insurers offer. Each renters insurance policy differs due to the riders and add-ons.
Here’s the standard coverage:
Liability protects you from lawsuits from people who have suffered bodily harm or property damage due to something you or your family did.
Your legal defense is also covered by liability.
Regardless of who is at fault, this policy covers medical expenses if someone gets hurt in your rental property.
Loss of Use
If your unit becomes uninhabitable due to a covered peril such as fire, this policy will pay for basic living expenses and temporary housing costs.
Personal Property Coverage
In the event of a covered peril, personal property coverage pays to repair or replace damaged or stolen property.
A damaging event caused by theft, vandalism, fire, smoke damage, weather changes like lightning and windstorms, explosions, water damage, and other events listed in your policy is considered covered perils under a standard policy.
Texas does not have a law requiring renters insurance, but particular landlords may demand it before allowing you to occupy their property.
Nevertheless, there are a lot of good reasons to get renters insurance, including financial security and mental peace of mind in the event of an accident. For pet owners, renters insurance offers the convenience of helping to cover any damage or injuries brought on by pets.
You can learn more from the video below:
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