Lubbock, Texas Renters Insurance can be bought from a number of companies. It’s important to know who you’re buying it from, though. In the last two years, the state of Texas has put several smaller insurance companies into receivership and wound down their operations. Had the state not acted as quickly as they did, there would have been many policyholders who didn’t get their claims paid because the companies simply didn’t have enough money in reserves to pay those claims.
Renters insurance in Lubbock should be bought from a company with a focus on the insurance needs of renters, and one that can explain the specifics of why Texas renters insurance is different in different areas, and different than everywhere else in the country. There are two types of renters insurance in Lubbock. The standard HO-4 which is sold in all other states is available, and is the one most commonly found.
On the other hand, the HO-BT is an older policy form that is still used from time to time by certain carriers. It has less broad coverage and different endorsements available. Often, it’s not the best choice for many people. Some companies still sell them, so watch out and make sure you’re dealing with the right type of policy for your needs.
Lubbock, TX renters insurance generally comes with replacement cost coverage, but that’s another question you need to be sure to ask. You need to know that the policy will pay to replace your items if there’s a loss, rather than giving you the actual cash value. The latter isn’t enough to replace the things that suffered a loss, and leaves you in a terrible financial position.
Remember that renters insurance also protects you from liability. Whether you injure someone by bumping into them on the street and spilling your coffee on them, or by accidentally starting an apartment fire that impacts other people in the building. If something happens for which you’re liable, your Lubbock renters insurance indemnifies and defends you.
Effective Coverage, the renters insurance experts in Lubbock, knows the questions to ask and how to get you the coverage you need. In just minutes, your insurance expert will help to determine our needs and ensure that you’re getting the coverage you think you’re getting.
Renting In Lubbock, TX
Lubbock is the county seat of Lubbock County, TX. Conveniently located on Interstate 27, and with an unemployment rate lower than the overall country, Lubbock is a great place to live and a great place to work. The rental market isn’t as difficult as it is in some parts of Texas, but it’s not a walk in the park either.
The estimated median per capita income is about $22,000, and the median home value is only $108,600. That makes housing quite affordable in Lubbock, with a median rent of just $800 a month. The population is only 225,000 people, which helps give Lubbock something of a smaller town vibe.
77,500 houses out of 84,000 are owner occupied. Almost half the homes in Lubbock are rented, which gives the opportunity to rent some lovely homes. Over half the population of the city has a commute of less than 30 minutes, which vastly improves the quality of life. Shorter commutes and more time with your family makes this a great town if lifestyle is important to you.
If you like mystery, Lubbock has its share. In August of 1951, unexplained lights were seen in the sky. Many theories, ranging from conspiracy to UFO have been bandied about over the years. The “Lubbock Lights” are likely to remain forever a mystery.
One of the major industries in Lubbock is cotton. It’s one of the largest cotton growing areas in the world, and much of the local economy is dependent on the industry. Unfortunately, the local water supply is being depleted quickly enough that it may not be sustainable in the long term.
Of course, Buddy Holly was born here, but you knew that already. Interestingly enough, in contrast, has been noted as the second most conservative city in the United States based on the way they voted. Many people find this to be a positive thing, as people like to live someplace where their values are shared.
Wherever you choose to live, you still need renters insurance in Lubbock, TX or anywhere else, and you should call Effective Coverage to get it!