If you're moving into one of Frisco's brand-new apartment complexes or settling into an established community, you've probably noticed renters insurance mentioned in your lease. Maybe you're wondering if it's really necessary. Here's the short answer: absolutely. And here's the even better news: it's probably cheaper than you think—around $17 a month in Frisco, which is less than most streaming subscriptions.
Frisco is one of the fastest-growing cities in Texas, with stunning new developments like Remy at Frisco Square and The Casey at Frisco Station opening their doors in 2024. Whether you're a young professional, a family relocating for the schools, or a student, renters insurance gives you protection tailored to Frisco's unique risks—especially those softball-sized hailstones that North Texas is famous for.
Why Frisco Renters Need Insurance
Let's clear up a common misconception: your landlord's insurance doesn't cover your stuff. Their policy protects the building itself—the walls, roof, and structure. If a hailstorm shatters your window and ruins your laptop, or if a burst pipe floods your apartment and destroys your furniture, your landlord's policy won't pay a dime to replace your belongings. That's where renters insurance comes in.
Frisco sits squarely in North Texas's hail alley. Hail storms here aren't rare—they're practically an annual tradition. Some storms have produced hail the size of baseballs, and the average hail damage claim in North Texas runs around $12,000. While your landlord's policy handles roof repairs, your renters insurance covers the damage to everything inside: your electronics, clothing, furniture, and more.
And here's something most renters don't realize: renters insurance isn't really about your stuff. Sure, it'll replace your TV if it gets stolen. But the real value is liability coverage. If your friend slips on your wet kitchen floor and breaks their arm, you could be facing thousands in medical bills and legal fees. If your bathtub overflows and damages your downstairs neighbor's apartment, you're responsible. Your renters policy handles these scenarios, covering legal defense costs and settlements up to your policy limit—typically $100,000 or more.
What Renters Insurance Covers in Frisco
Texas renters insurance typically includes three main types of protection:
Personal property coverage protects your belongings from covered perils like fire, smoke, theft, vandalism, hail, and certain types of water damage. This includes not just items in your apartment, but also things stolen from your car or while you're traveling. If someone breaks into your vehicle outside The Star and steals your laptop, your renters policy can cover it.
Personal liability coverage is your financial shield if someone gets injured in your apartment or if you accidentally damage someone else's property. This covers medical bills, legal fees, and court judgments. Most policies start at $100,000 in liability coverage, though experts often recommend $300,000 for better protection.
Additional living expenses coverage pays for hotel stays, meals, and other costs if you can't live in your apartment due to covered damage. If a fire forces you to move out temporarily, your policy covers the difference between your normal living expenses and the extra costs you incur. Keep all receipts—your insurer will need them.
One critical exclusion: floods aren't covered by standard renters insurance. Texas sees its share of flooding, and if you're in a flood-prone area, you'll need a separate flood insurance policy through the National Flood Insurance Program.
How Much Coverage Do You Need?
Here's a common mistake: underestimating the value of your belongings. Walk through your apartment right now and mentally add up everything you own—furniture, clothes, kitchen appliances, electronics, sporting equipment, jewelry. Most people are shocked when they realize they have $20,000 to $40,000 worth of stuff.
Standard policies often start with $5,000 in personal property coverage, but that's rarely enough. A decent laptop, phone, and TV alone can exceed $3,000. If you're furnishing a two-bedroom apartment, consider at least $20,000 to $30,000 in coverage. The good news? Increasing your coverage from $5,000 to $25,000 might only add a few dollars to your monthly premium.
Pay attention to sublimits, too. Most policies cap coverage for cash at $100, business-related items at $2,500, and jewelry and watches at $500. If you have an engagement ring worth $3,000 or expensive camera equipment, you'll need scheduled personal property endorsements to cover them fully.
What Renters Insurance Costs in Frisco
The average renters insurance policy in Frisco costs about $205 per year—that's roughly $17 per month. This is slightly below the Texas state average of $214 annually. Some providers advertise rates starting as low as $14 per month for basic coverage.
Your actual cost depends on several factors: your age, claims history, credit score, the amount of coverage you select, your deductible, and any discounts you qualify for. Younger renters often pay slightly more, while bundling your renters insurance with your auto policy can save you 10-20%.
Choosing a higher deductible—say, $1,000 instead of $500—will lower your premium. Just make sure you can afford to pay that deductible if you need to file a claim. For most renters, a $500 or $1,000 deductible strikes the right balance between affordable premiums and manageable out-of-pocket costs.
How to Get Renters Insurance in Frisco
Getting renters insurance is refreshingly simple. Start by taking inventory of your belongings—you don't need to list every item, but estimate the total value of your furniture, electronics, clothing, and other possessions. Use your phone to photograph or video your apartment and valuables. This documentation will be invaluable if you ever need to file a claim.
Next, shop around. Get quotes from at least three insurers. If you already have auto insurance, check with that company first—bundling almost always saves money. Compare not just the price, but the coverage amounts, deductibles, and any exclusions or limitations.
Many landlords in Frisco's newer complexes require renters insurance, so check your lease for specific coverage requirements. Some landlords specify minimum liability limits, often $100,000, and may require that they be listed as an interested party on your policy.
Once you've chosen a policy, you can often get coverage in place within hours. Most insurers offer instant online quotes and same-day coverage. You'll receive proof of insurance—usually called a declarations page—that you can provide to your landlord.
Renters insurance is one of those things you hope you never need, but you'll be incredibly grateful to have if disaster strikes. For less than the cost of a couple of coffee shop visits each month, you get protection for everything you own and peace of mind knowing you won't face financial ruin if someone gets hurt in your apartment. Whether you're settling into a luxury unit at Frisco Station or a cozy place near Legacy West, getting renters insurance is a smart, affordable move that protects your financial future.
