Is Renters Insurance Cheaper than Homeowners Insurance In Texas?

Last Updated: February 1, 2022

Is renters insurance cheaper than homeowners insurance? In simple terms, homeowners insurance costs more than renters insurance since it covers more property, property that is more prone to hazards, and property that is worth more money.

If you live anywhere near or in Texas, finding the perfect house insurance quote in Texas is a daunting task. Although not the easiest, researching on it will give you a significant starting point on ways to protect your home and personal property from different types of risks.

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Although a general home insurance coverage protects your house and personal belongings from daily occurring risks such as theft, fire, or natural disasters, you could possibly choose additional packages such as medical insurance, and liability coverage to add an extra step to your security. You could add any specific packages according to your liking, so good research is necessary for you to find the best deals. Homeowners insurance in Texas will insure you for any incidents that happen in the unforeseeable future. Furthermore, find an agent who can assist you in finding the best homeowner’s insurance in Texas.

is renters insurance cheaper than homeowners insurance

What to get a homeowners insurance and renters insurance quote on?

There are multiple things you should consider and should consult with an insurance brokerage firm before deciding on what plan you are going to get. Some of the common things that people generally look into are as follows:

  • Guest house insurance quote SD
  • Additional Living Expenses
  • Guest Medical Payments
  • Personal Property Coverage


What to ask an agent before getting a homeowners insurance or renters insurance quote?

  • Ask insurance agents to explain all the options available for you from their associated carriers.
  • Find discounts on your house insurance premiums.
  • Ask them to guide you through the insurance claim process before you need to get one.
  • Tell them what your payment plans look like. Make them assess your options and manage accordingly.

According to Bankrate, the average rate for homeowners insurance in Texas is $2,589 per year, which is higher than the national average annual premium of $1,477.

Homeowners insurance quote and financial position:

If you do own a home and have a mortgage to pay, the bank from which you have taken out the loan will most likely ask you to get home insurance. Looking for insurance broker that have contact with the bank you have chosen will carry discounts in premium. You can also combine both payments into one for a discounted rate.

Frequently Asked Questions

Q. What are the disadvantages of renters insurance?

Renters insurance has a number of disadvantages, including higher expenses to cover expensive objects and severe coverage restrictions without the purchase of add-ons (riders) at an additional cost.

Q. How much is renters insurance per month usually?

According to NerdWallet’s most recent rate study, the average renters insurance cost in the United States is $168 per year, or roughly $14 per month.

Q. Is rental property insurance cheaper than homeowners insurance?

Yes. According to the Insurance Information Institute, a landlord insurance policy for the same property costs around 25% more than a homeowners insurance policy.


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