I Can’t Take Personal Property Off My Plano Renters Insurance And I Only Want Liability!

Once in a while, someone gets angry at their renters insurance provider. Sometimes, the anger is understandable. But sometimes, people lose their minds over something that literally is not within the realm of the possible. You can’t get mad at a Ford dealer because they won’t sell you a new Prius, right? They sort of don’t have any in stock, and don’t really have a practical way to get a new one. Even if they bought it and brought it to their showroom, ownership would already have been transferred to them, so it’s no longer a new car.

There are certain things on Plano, TX Renters Insurance that just can’t be done, because they’re outside the scope of what the policy form contemplates. That doesn’t mean your insurance provider deserves that ire, it means that the policy you want just doesn’t exist.

One example of this would be if you expected your renters insurance in Plano to cover flooding caused by water moving along the ground. That’s something that you just won’t find coverage for in any renters or homeowners policy. Flood is always an exclusion, and that has to do with the fact that there’s a Federal program to write those policies because the exposure is so great. Renters insurance in Texas does not cover flooding, full stop, because it’s been intentionally designed out of the policy because there is a better way to get that coverage.

But flood coverage isn’t why you’re here, and flood coverage isn’t what you’re concerned with. You’re here because you’re hopping mad that your renters insurance provider has said that you can’t take personal property coverage off your Plano renters insurance policy. You’re here because you want a policy that just covers liability, and nothing more.

A Plano, TX Renters Insurance policy is a single unit. The policy form is written so that the different types of coverage work well together and give you the protection you need. It’s not designed to be taken apart piecemeal, and the actuarial values wouldn’t work if you tried.

Your renters insurance policy generally will provide personal property coverage with replacement cost, liability, medical payments to others, and loss of use coverage. That policy, on average, will cost about fifteen dollars a month. Renters insurance in Texas is one of the least expensive ways to protect yourself.

Most of the time, when someone wants to remove personal property coverage from their renters insurance, it’s because they’re being told they must have a policy and they want cheap renters insurance because it’s a mandate, not a choice. The problem is, renters insurance is already cheap! $187.00 a year is the national average, and many people in Plano pay far less than that.

There is such a thing as a liability-only policy, but it’s hard to find someone willing to sell it to you. They’re just that rare in the wild. Your time spent looking for such a policy would cost more than the few dollars that you save.

Let’s look at this a different way, as well. When you drive, you have auto insurance. In Texas, all you must have is liability for the other person that you hit to make sure they’re made whole. But the vast majority of drivers also have uninsured motorist coverage to protect themselves if someone without insurance hits them. That coverage isn’t required by law, but for the few dollars a year, it makes good common sense.

You’ll also want to be sure that your car is fixed if you hit something, right? You have collision and comprehensive for that. That ensures that you, your medical bills, and your assets are all protected, and all of those parts work together to protect you from a wide variety of risks.

Think of it this way. If you just have liability on your renters insurance, you’re in an odd position if you cause a fire. The people you harm as a result are covered, of course, but who’s going to pay for the hotel you need to stay in while repairs are being made? That would have to come out of your pocket. Buying new things? That would be out of your pocket, as well. Moving expenses? On you. You get the idea. Insurance isn’t just about protecting the other guy, it’s about making sure that you and your family are protected, as well.

Your Plano renters insurance policy is designed to protect you from a wide variety of risks, too. Your personal property is worth far more than you think it is. Most people, when adding up their property, just add up what they think it’s worth. But that’s not how replacement cost claims are paid out. That pair of jeans isn’t worth $5, it’s worth whatever it costs you to go buy new right now after there’s a loss. Did the value of your closet just go up by about six times? Point made.

No, you can’t remove personal property coverage from your Plano renters insurance policy. What you can do is work with the insurance experts for renters who can help you understand the types of coverage and how they work together for your benefit. Renters insurance is very affordable, and you need each one of those types of coverage. To find out more, just call (800)892-4308 or click to get covered - whether you need Plano renters insurance quotes online or coverage anywhere else!

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Photo Credit: Anthony Caruso Gadsden Flag CC BY 2.0