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The Top Three Threats To Texas Rental Properties

Purchasing and renting out a home or vacation property has become a popular way for Texans to secure additional income while also retaining ownership of valuable real estate. However, there are risks for any homeowner with rental property as accidents or damages can occur at any time, threatening the home structure as well as assets in the home. In today's blog post, we'll look at the three most common threats to Texas rental properties and how rental property owners can protect themselves and their investments with quality insurance coverage.

Flooding

Recently, millions of Texans were impacted by a string of severe thunderstorms canvassing the entire state, resulting in widespread flooding, tornadoes, lightning, and windstorm damage. The flash floods and overflowing rivers caused thousands of homes, businesses and schools to be inundated with floodwaters, causing millions of dollars in damages. A large number of the homes flooded or washed away were vacation and rental homes near rivers and creeks in the Texas Hill Country. For rental property owners, Flood Insurance is crucial to ensure that structures and possessions are protected in the event of catastrophic flooding and severe weather.

Fire Damage

Another common threat to rental properties in Texas comes from fires. Rental properties may suffer damages or be completely destroyed by fires caused by renters, such as kitchen fires, unattended cigarettes or candles, or space heaters. In addition, some rental properties may be in the direct path of wildfires or brushfires, causing widespread damages or devastation. Lightning may also be a culprit in rental property fires. Quality Rental Property Insurance can protect the value of your rental home and inside possessions from fire damage, whether caused by renters or nature.

Theft

For a substantial number of rental properties, particularly vacation homes, there may be periods of time when the property is unoccupied. Unfortunately, thieves and vandals frequently target vacation homes to steal valuable electronics, furniture and other assets from the home, knowing the home will be empty. Although security lighting and alarm systems may help deter some thieves, rental property owners may still suffer damages and property loss from criminals, but Rental Property Insurance can help offset those losses and allow owners to recover the value of damaged or stolen assets.

Aegis believes that property owners should be well protected in the event of a disaster so that recovery can begin immediately. Aegis offers a full range of insurance solutions for rental property owners, including Rental Property Insurance, Flood Insurance, and Umbrella Insurance, as well as Homeowners, Auto, RV and Motorhome Insurance and more. Contact Aegis today at 713-850-7622 for more information or go online to request a free quote today!

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