News Release: For Immediate Release

www.bbbhou.org * bbbinfo@bbbhou.org * Council of BBBs: www.bbb.org *
24-Hour Information: 713-868-9500, 877-468-9222 (from area code 409 only)

Protecting Your Personal Property

A standard policy will cover furniture, clothing and most other personal belongings for their actual cash value at the time of loss. Cash value coverage takes into account the age and condition of items at the time of damage or loss. You would be reimbursed for the value of the item minus depreciation. In order to replace your belongings with new items, you will need to purchase replacement value coverage.

The liability coverage in the renter’s policy applies at home and elsewhere to injuries and damages caused by you or a family member and will cover legal costs if you are sued. However, it does not include liability resulting from the use of an automobile.

To determine your insurance needs, make a list of all your household belongings. If possible, note prices and dates of purchase. Take photographs or make a videotape of your more valued belongings. Keep your inventory and a visual record of your belongings in a safe place, outside your home.

When looking for an insurance company, talk to several different agents or companies and compare prices and services. Check the company out with your Better Business Bureau (BBB). Keep your inventory list handy, so you can find the amount of coverage that is most appropriate for you. Ask for a list of standard coverage limits so you know whether you’ll need to get additional coverage for some of your belongings. Find out about the deductible or your out-of-pocket costs. Keep in mind that raising your deductible will usually lower your premium.

Review your policy with your insurance agent or representative so that you clearly understand what’s covered.

If you have a complaint, contact the Texas Department of Insurance at 1-800-252-3439 or your BBB at 713-868-9500 or toll-free at 1-800-275-3626. 

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