When you decide to rent an apartment, your financial concerns usually revolve around one thing: the monthly rent. And rightfully so, since missing out on payments can lead to undesirable consequences, like eviction.

One other important consideration is Renters Insurance. It functions in some ways similarly to homeowners insurance: it protects your personal belongings against damages or loss due to natural events, fire and theft, among others. Valuable items such as clothing, furniture, jewelry, electronics and gadgets can also be covered under renters insurance.

You may think the likelihood of such unfortunate events is low. However, these types of losses do occur on a daily basis and luck favors the prepared. If you are signing a residential lease in Texas through a real estate agent or leasing manager, chances are the contract you sign will prompt you to consent to purchasing renters insurance.

Choosing the right renters insurance product from the right insurance company can be approached the same way you would when you shop for life insurance, auto insurance or homeowners insurance. It is best to assess (ideally together with your insurance agent) your needs. Generally, renters insurance is very affordable and the premiums do not generally increase much per every $10,000 of coverage. Premiums can be as cheap as the cost of 5 Starbucks coffee drinks.

Worth noting is an advice from the Texas Department of Insurance (TDI): purchase a renters insurance policy with a high enough coverage amount (or the maximum amount the insurance company will pay you for a claim) that can replace property that is of significant importance or value to you.

Renters insurance is a very small cost to pay to ensure financial protection for you and your loved ones. Contact us today to discuss how affordable your renters insurance policy can be –817-423-0048.