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Northwest El Paso renters insurance is a safeguard for your assets against fire, theft, natural disaster and more. An unexpected disaster can wipe out many of your belongings without an El Paso rental insurance plan. While renters do not have to plan for making repairs to the structure, they must take financial responsibility for their personal property inside the rental home. The expense of replacing furniture, appliances, clothing and other necessary items can decimate savings and drive up credit card debt. Northwest El Paso renters insurance helps cover that loss to get you back on your feet.

Northwest El Paso is one of the most affluent and fastest growing areas of El Paso in west Texas. Located west of the Franklin Mountains, the neighborhoods of Northwest El Paso boast some of the city's most beautiful homes. Though most people here own their homes, renting is becoming the more popular, economical option for some. Renting has the attraction of flexibility to move and less responsibility for things like maintenance and repairs, making it the perfect situation for Northwest El Paso seniors and young professionals.

People tend to fill spacious, beautiful Northwest El Paso houses with their valuables. While Texas renters would not be responsible for repairing any structural damage, paying for damage to the contents therein falls solely on the renter. You spent a lot of money on your belongings. Don't let one disastrous incident leave you high and dry. Rely on Northwest El Paso renters insurance to compensate you for your loss.

What Your Renters Policy Covers

Renters insurance is a form of TX homeowners insurance that includes all of the same protections except for covering the structure itself. Unlike car insurance that allows customers to build a policy with different forms of coverage, your Northwest El Paso renters insurance policy is all-inclusive with the forms of coverage you need. El Paso policyholders can choose their Texas rental coverage levels and deductibles and add riders and endorsements for more comprehensive coverage, but the standard insurance provisions take care of almost any situation. You don't have to worry whether you will have the right protection when disaster strikes when you invest in TX insurance.

The first form of coverage is personal property coverage. This covers the value of your belongings up to your coverage limit, which is set based on the real value of what you own. Your Northwest El Paso renters insurance agent will help assess the worth of your goods to set the appropriate limit that ensures you are fully covered in case of a total loss.

Loss of the use is the second form of Northwest El Paso renters insurance coverage. If the TX rental home is rendered unlivable, the policy covers the cost of your temporary stay in another rental unit or hotel. The limit for this coverage is generally 20 percent of the personal property limit, so a $100,000 personal property limit would give you $20,000 for additional living expenses beyond what you normally pay for rent and utilities.

The third and fourth forms of coverage deal with people who are injured on your Northwest El Paso property. If a neighbor is injured on your icy front steps, she can sue you for negligence for failing to clear the walkway. A negligence suit can cost you legal fees as well as any settlement or judgment awarded the plaintiff. In Texas, most renters insurance policies start at $25,000 for liability, but more coverage can be bought for a higher premium. If someone is hurt and decides not to sue, she can still be compensated for reasonable medical costs with coverage usually starting at $1,000.

Named Peril Versus Open Peril

A factor that determines how much compensation you will receive for a claim on your Northwest El Paso renters insurance policy is whether the policy is designated named peril or open peril. Named peril policies honor only claims where loss is attributable to a peril listed in the policy. Open peril, a more expensive option, covers loss regardless of the cause unless specifically excluded, like flooding in most cases.

Named peril policies generally include damage from fire, theft, windstorm, weight of ice and snow, fallen objects, vandalism, explosion, vehicle collision, riots, volcanic eruption, smoke, frozen pipes, electrical fire from faulty wiring, water damage from appliances and lightning. This list is fairly comprehensive, and most renters never need the protection that open peril policies offer. Perils that are not listed on the Northwest El Paso renters insurance policy can be covered with riders and endorsements that specifically address a certain peril.

An important consideration for Northwest El Paso renters insurance customers is protection from flooding. Monsoonal rains in the El Paso summer can cause devastating flooding, even at the high elevation of Northwest El Paso. Flood coverage is a separate policy offered by a federal program.