Texas Renters Insurance | Get a Quote | Liberty Mutual (2024)

FAQs

Does getting a renters insurance quote hurt credit? ›

The soft pull doesn't show up on your credit history, and doesn't affect your credit score. Learn more about how much renters insurance costs, including how your renters insurance rate is calculated, and get a free renters insurance quote from Policygenius.

Renters insurance isn't required by law. Some landlords might require you to have a renters policy. Make sure the policy you buy will pay to replace your personal property.

The Cost of Renters Insurance in Texas

According to data collected by Quadrant Information Services in 2023, renters insurance costs $158 per year or $13 per month on average in the state of Texas.

Renters insurance is relatively inexpensive. According to NerdWallet, the average renters policy costs about $15 per month for up to $30,000 in personal property coverage. That's solid coverage for less than the cost of a few cups of coffee a week.

It is true that insurance companies check your credit score when giving you a quote. However, what they're doing is called a 'soft pull' — a type of inquiry that won't affect your credit score.

Choosing a higher deductible can lead to lower monthly premiums, but it also means you'll pay more upfront in the event of a claim. Your choice of deductible should align with your risk tolerance, coverage needs and ability to cover out-of-pocket expenses.

Withholding rent is strongly discouraged and can result in the landlord filing for an eviction. If you withhold rent, you may lose your right to have the property repaired until all the rent has been paid. This law is in Section 92.052 of the Property Code.

Your rights as a tenant include the right to "quiet enjoyment," a legal term. This means your landlord cannot evict you without cause or otherwise disturb your right to live in peace and quiet. If other tenants in your building are disturbing you, you should complain to the landlord.

Simply put, 80/20 coinsurance means your insurance company pays 80% of the total bill, and you pay the other 20%. Remember, this applies after you've paid your deductible.

While all insurance products offered through Lemonade are trustworthy and reputable, the company's renter's insurance has the best ratings across Lemonade products.

What does renters insurance in Texas cover? ›

Just like any other state, if you live in Texas, renters insurance protects your personal belongings from things like fire and smoke, vandalism and theft, and some natural disasters too. It also protects you financially if a visitor to your home gets injured and takes legal action.

Some location-based factors that impact renters insurance rates can include: The rate of crimes, especially theft, in your ZIP code. The weather and climate in your area, since locations prone to fires, storms and hurricanes are riskier.

Renters insurance can help you repair or replace property after loss due to many types of damage or theft. It can also provide coverage for an accident at your residence. Policies usually have very affordable annual premiums.

Homeowners with poor credit pay an average of 170 percent more for home insurance than homeowners with excellent credit. Requesting a home insurance quote should not affect your credit score.

There's no official or legal minimum credit score needed to rent an apartment. Instead, required scores can vary by region and a landlord's policies. Landlords may typically look for tenants with at least a fair or good credit score.

Yes. The federal Fair Credit Reporting Act (FCRA) states that insurance companies have a "permissible purpose" to look at your credit information without your permission. Insurance companies must notify applicants that they can collect personal information about you, including credit information.

Switching car insurance companies will not usually affect your credit score, but it may be negatively impacted if you switch while still having a debt with your previous insurer.