Your landlord's insurance covers the building. It covers NOTHING inside your apartment. Here's why renters insurance is non-negotiable.
What it covers:
- Personal property: Furniture, electronics, clothing, everything you own. Fire, theft, water damage, storms.
- Liability: Someone trips in your apartment and sues you? Covered. Up to $100K-$300K typically.
- Additional living expenses: If your apartment is uninhabitable (fire, flood), it pays for temporary housing.
- Off-premises theft: Your laptop stolen from your car? Covered.
What it costs in DFW:
- Average: $15-25/month for $30K personal property / $100K liability
- Source: Texas Department of Insurance average rate data
What most people don't know:
-
It covers WAY more than theft. Fire, smoke, windstorm, hail, water damage from burst pipes, vandalism, lightning — all covered.
-
Liability coverage is the real value. If your bathtub overflows and damages the unit below you, YOUR renter's insurance pays. Without it, you're personally liable.
-
It travels with you. Your belongings are covered everywhere — not just in your apartment.
-
Replacement cost vs. actual cash value. ALWAYS get replacement cost coverage. ACV depreciates your stuff. A 3-year-old TV at ACV is worth $100. Replacement cost gives you a new one.
Best options for DFW renters (based on price and coverage):
- Lemonade: $5-15/month, easy app, fast claims
- USAA: $12-18/month (military/veteran families)
- State Farm: $15-25/month, traditional
- Progressive: $12-20/month, bundle discount
Sources:
- Texas Department of Insurance — renters insurance guide
- Insurance Information Institute — renters insurance data
- NAIC — consumer guide to renters insurance
$15/month protects $30,000+ in belongings. The math is obvious.