Need For RV Insurance

by Administrator 30. August 2019 13:01

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Types Of Insurance In Killeen

by Administrator 26. August 2019 12:58

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Differences Between Homeowners And Renters Insurance

by Administrator 22. August 2019 12:13

Whether you are renting or have purchased a home, it is necessary to have an insurance coverage in both the scenarios. Both homeowners and renters insurance provide financial protection against any kind of property damage, legal liabilities, medical payments and other costs.

However, there are some basic differences between homeowners and renters insurance:

  • Coverage: The main point differentiating a homeowners and renters insurance is that the coverage plan for a homeowners insurance covers the house in which the owner lives and any other building structure like a garage or a storage shed attached to it.  Whereas, a renters insurance does not cover the building. It provides coverage to the belongings of a tenant in a rental property.
  • Cost: A homeowners insurance is understandably costly as it provides coverage for the entire structure of a house and the belongings therein. Renters insurance is more affordable as it covers belongings except dwelling coverage. The covered perils in both these insurance plans can also differ which in turns affects the cost of coverage.
  • Coverage For Personal Property: For a renters insurance, personal property coverage is the most important as it is the main feature and a factor in determining the cost of the insurance. A standard homeowners insurance plan also provides coverage for personal property, but it is not the main driving feature.
  • Buying An Insurance Plan: Both the property owners and the tenant should have extensive knowledge about the value of their possessions to ensure that the insurance provides enough coverage. For homeowners insurance, the dwelling coverage should be set at or above the replacement cost of the home. A homeowner can buy additional insurance to cover the replacement value of his belongings in the home. Personal property coverage for renters insurance should be sufficient to cover the value of their possessions. In case of damage caused by a covered peril, the insurance will reimburse the replacement cost of the possessions that have been damaged.


Shawn Camp Insurance Agency, Inc. provides homeowners and renters insurance to its clients. The agency also offers a variety of other insurance plans. To know more about difference between homeowners and renters insurance, visit 2705 E. Stan Schlueter Loop, Suite 101, Killeen, TX – 76542. You can also call at (254) 526 – 0535.

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