At Strack Insurance Services, serving the greater Arlington, TX area, one of the questions that we are often asked is whether a landlord or a property manager can require you to obtain renters insurance. Read on to learn the answer to this question.
What Is Renters Insurance?
Renters insurance protects the renter’s belongings against unexpected events, such as a fire or a pipe bursting and flooding the rented property. In addition to compensating the renter for the property that may have been damaged or destroyed in an unexpected event, renters insurance also helps pay for housing. At the same time, the rented space is being repaired. Finally, renters insurance helps to cover property against theft as well.
Can a Landlord or Property Manager Require You to Obtain Renters Insurance?
In Texas, it is legal for a landlord or property manager to require you to obtain renters insurance, as long as it is included in the lease agreement. They cannot legally require you to obtain insurance if it is not included in the lease agreement. However, even if they do not require it, renters insurance is something every renter should have to help protect their belongings. Many renters incorrectly assume that homeowners insurance will cover their belongings if there is an unexpected event, but unfortunately, this is not the case.
Landlords or property managers can require you to obtain renters insurance as part of your lease agreement. And even if it is not needed, it is still strongly recommended that every renter obtains this type of insurance. Strack Insurance Services is here to assist you if you want to obtain renters insurance in the greater Arlington, TX area. Contact us and let us help you obtain the renter’s insurance you need.