Homeownership has often been called the American dream - but for some physicians, owning a home is not yet a practical choice. Perhaps you are quite early in your career and you aren’t ready to put down roots, or maybe you want to pay down medical school debt before buying a house. For many reasons, renting a house or apartment may be a more suitable option. Whether you’re looking to cut expenses or save up for your dream home, there is one thing you should not be without: practical, affordable renters insurance.
No Renters Insurance Means Limited Options
If you are looking for a home to rent and you don’t have renters insurance, you may have limited options, since the largest property management companies in Texas and many independent landlords require their tenants to obtain a renters insurance policy before signing a lease. Why is renters insurance often required?
Responsible managers and landlords know the value of renters insurance. In urban areas, many apartment buildings can house up to 50 residents or more; and in the event of a catastrophic loss, renters insurance provides needed benefits to tenants like reimbursement for temporary housing. Also protected with renters insurance: the tenants’ personal property, which may be damaged or destroyed in a catastrophic loss. A renters insurance policy also provides liability and medical cost coverage for your guests that may be injured on the property.
Determine the Value of Renters Insurance
Renters insurance makes financial sense. The true value of renters insurance can be determined by comparing the cost of a typical policy vs. the amount of potential loss. By some estimates, a renter may own personal belongings valued as high as $30,000. In the state of Texas, the average monthly cost of a renters insurance policy is less than $25 per month.
This means that for less than the cost of a pack of chewing gum daily, you can protect your personal belongings, protect yourself against liability, and ensure that you will have a place to live if your home is uninhabitable. As a tenant, you may be inclined to take a risk; counting on the chance that misfortune will not strike – but why do so when it costs so little for so much protection?
At TMA Insurance Trust, we’re looking out for your best interests and want to see you stay protected so you remain successful for many years to come – and we want you to enjoy the security that renters insurance can bring.
TMA Insurance Trust now offers members access to multiple quotes for renters insurance from the country’s leading insurance carriers. We know you don’t have time to conduct the research and comparison shop, so our new service will do it for you – easily and conveniently. You will have access to advisors who will help you make the best decision for your personal situation. Click here or call 877-755-9576 to reach out and get the protection you deserve.
For over 60 years, TMA Insurance Trust advisors have been serving Texas physicians, their families and staff. TMA Insurance Trust prides itself on offering unbiased information and strategies to members, along with exclusive group rates on a range of the highest-rated plans in the industry.