Leigh had Corpus Christi renters insurance. She suffered a loss and the insurance company paid but the loss was severe enough that she spent several weeks using the loss of use coverage before her apartment was usable again. So Leigh comes to us to ask,
Can I get renters insurance if I’ve had a claim? After a neighbor had a major fire, I filed a personal property claim for smoke and water damaged property. Now I’m wondering if I can ever get renters insurance again after that claim! Help me Effective Coverage renters insurance experts!
Can I Get Renters Insurance If I’ve Had A Claim?
We frequently get asked “can I get renters insurance if I’ve had a claim in the past?” The answer is absolutely yes, but you need to work with the right company.
Leigh, thanks for asking a great question. Many people wonder if they can get renters insurance if they’ve had a claim. In your situation, depending how long it’s been, you may want to ask your carrier about renters insurance reinstatement. If the cancelation was for non-payment, it might be an option for you. But back to your original question about getting a new renters insurance policy with a previous claim, it’s going to depend.
Can I Get Renters Insurance If I’ve Had A Claim? It Depends!
What does it depend on? Primarily, it depends on which company you’re working with. For instance, certain companies will not write you a policy for 3-5 years. Some companies pull reports, some take your statement of no prior claims at face value. But there are many carriers who will write a renters insurance policy with a prior claim.
The first thing we can tell you is to be honest. Many carriers do, in fact, run reports and all carriers contribute to the database. If you fail to mention a previous claim, it will create a serious problem and coverage could be denied in the future. Brutal honesty from the start solves this problem every time. From there, it depends on the type of claim. Was it a catastrophe like a hurricane? That might not count against you. If not, then you need to look at how much was paid out, and for what type of claim – Loss of Use? Personal Property? Liability?
How Will A Prior Claim Affect My Renters Insurance Rates?
We can tell you that it will affect your rates, unless it’s a catastrophe and 100% not your fault. That might cause it to be ignored for rating purpose. The thing to remember is, renters insurance in Texas is fairly inexpensive. Look at it this way, if your car insurance doubled you’d be in serious trouble trying to pay that bill. But, if your renters insurance doubles you might only go from $150.00 a year to $300 a year. Either way, that amounts to basically pocket change on a monthly basis. In reality, renters insurance is so cheap that it’s not even worth worrying about the price going up because of a claim. It could pay out $15,000 or more in personal property, and still only go up a minor amount. Therefore, it remains a wise investment.
How Can I Get Renters Insurance In Texas If I’ve Had A Previous Claim And No One Will Write The Policy?
This one is easy. If you work with the right Texas renters insurance agency, you’ll find that the good providers have access to markets that you didn’t know existed, including the insurer of last resort. In the case of Texas, that’s the Texas FAIR Plan and the Texas Windstorm Insurance Association. You don’t have to get declined by every carrier doing business in Texas. In order to be eligible for a TFPA renters insurance policy, you need two declines and no valid quotes that you could purchase. Effective Coverage understands the different needs of renters and how to place Texas renters insurance with the right market for the right type of policy and risk. In reality, there is no need to worry about who is eligible for renters insurance, or if you’ll be denied renters insurance because of a previous claim.
Effective Coverage is a Texas renters insurance provider with access to policy types and markets for just about any kind of risk. Because we know the business and have been doing this for so long, we can get nearly anyone insured regardless of past circumstances. Sometimes it costs a bit, but the price of renters insurance after a claim is still incredibly affordable and can fit within nearly any budget. Even college students can afford renters insurance in Texas! Contact Effective Coverage today at (800) 892-4308 or click above to find out how little renters insurance in Texas costs!