What is it?
Renters Insurance is often required by your landlord or apartment complex, but it is important to have even if it is not required. One benefit to Renters Insurance is the coverage for your belongings, but the most important aspect is the liability coverage. Even if you do not own your home or apartment, you can still be sued if a guest is injured or if you damage their property.
There are some optional coverages you can add to a renters policy, but these are the base coverage included on most policies:
- Personal property: Coverage for your belongings, including clothing, furniture, electronics, dishes, etc.
- Liability: Coverage for legal expenses and judgements against you if you are sued due to a guest's injury on your property or damaged you cause to someone else’s property.
- Medical payments: If someone is injured on your property, regardless of whether or not you were negligent, this coverage can pay for their medical expenses.
- Loss of use: If your home is uninhabitable due to a covered loss, this coverage will extend to cover the additional living expenses you incur as a result.
How does it work?
- If you have a loss: Call us at (303) 597-1667 as soon as possible for claim assistance.
- If you are renting the home or apartment you reside in, or even if you are staying with a friend or relative and not paying rent, Renters Insurance protects your belongings and liability exposure.
- Unlike Homeowners Insurance, if you move to a new address and will still be renting, you can simply update the address on the policy rather than purchasing a whole new policy.
- If you have any valuables, like jewelry or artwork, you can “schedule” them on a Renters Insurance policy to ensure an agreed value for the items if there is a loss.