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Renters Insurance in Littleton, Colorado

Although you don’t own the physical building when you rent your home, it’s still essential to protect what’s inside of it. One way to protect your residence is by having renters insurance. Renters insurance helps cover losses to personal property and provides financial protection against liability claims.

What Does Renters Insurance Cover?

A standard renters insurance policy usually includes the following:

  • Personal possessions coverage helps pay for personal property losses due to a covered event.
  • Liability coverage helps cover you and your family members living in your home if you are sued for an injury or other property damages incurred by other people (e.g., someone is injured in your unit).
  • Additional living expenses coverage helps pay for living expenses if your home becomes uninhabitable due to a covered incident.

How Does Renters Insurance Work?

When you opt for renters insurance, you will pay a premium in exchange for financial protection from covered events. Usually, there is an option to pay for it monthly, but you can generally save by paying the annual rate instead. You can also save money on your premium by choosing a higher deductible. When choosing your deductible, you should consider how much you can pay out of pocket if an unexpected incident occurs.

How Do Renters Insurance Claims Work?

If you have renters insurance and something happens you believe your policy should cover, you can file a claim with your insurance company. When filing a claim, provide as much detail as possible to support it, including photos and videos of the damage, if applicable. If your insurance company approves the claim, they will reimburse you for the damage minus your deductible. If a third party is filing a liability claim against your insurance, they can typically initiate the process and work with your insurer to receive payment.

How Much Renters Insurance Can a Landlord Require?

Renters insurance is not a legal requirement, but many landlords may require proof of insurance in your lease. If you fail to provide proof of insurance, a landlord could issue you a fine or an eviction warning. Landlords will generally require tenants to have enough insurance to cover their belongings and may require additional coverage if the renter owns a dog, pool or trampoline. Even if your landlord doesn’t require renters insurance, keeping yourself and your assets protected may be a smart investment.

Renters Insurance Quote in Littleton

If you are interested in learning more about renters insurance, contact the Premier Group Insurance | Nick Hammer Agency. We provide insurance policies for clients in the Littleton area. Call or visit us today to get a no-obligation quote.

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