A renters insurance policy is a group of insurance coverages designed to help protect residential or home renters and their belongings against certain risks.

A typical renters insurance policy includes four types of coverage that help protect renters and their belongings after a covered loss:

• Personal property coverage helps pay to replace belongings you keep in your rented home if they are stolen or damaged in certain situations, such as a fire.

• Liability coverage can help prevent you from paying out of pocket if you are found legally responsible for another person's medical bills after they are injured in your home.

• Guest medical coverage helps pay for reasonable and necessary medical expenses—such as the cost of X-rays, medical treatment, or an ambulance—if a guest is injured at your home—even if you're not at fault.

• Additional living expense coverage may help pay for additional costs you incur, such as temporary housing, if your rented home is left uninhabitable by a covered risk, such as a fire.

Renters insurance helps pay to replace stolen belongings, up to the coverage limit stated in your policy. Reimbursement for stolen items may be based on their depreciated value or replacement cost, depending on what type of coverage you select.

Certain valuables, such as expensive jewelry, may have more limited coverage under a standard renters insurance policy. If you have expensive jewelry or valuable artwork or collectibles in your rented home, you may want to add an endorsement or rider to you renters policy to increase the coverage for those personal property items. You may have to get an appraisal of their value to schedule such items for additional coverage on your renters policy.

In Texas, renters insurance policies are designed to protect renters and their personal property from specific risks. These policies typically include personal property coverage for damaged or stolen items, liability coverage in case the renter is found responsible for another person's injuries, guest medical coverage for injuries sustained by visitors, and additional living expenses if the rental is uninhabitable due to a covered event like a fire. The amount reimbursed for stolen items depends on whether the policy provides actual cash value or replacement cost coverage. For high-value items like jewelry or art, Texas renters may need to purchase additional endorsements or riders to their policy and provide appraisals to ensure adequate coverage. It's important for renters to review their policy limits and the type of coverage they have to ensure they are fully protected. Texas law does not require renters to carry insurance, but landlords can require it as a condition of the lease.