COLORADO RENTERS INSURANCE
Colorado is one of the most beautiful states in the U.S. People have flocked here to experience life surrounded by the beauty of the Rockies and the upper Great Plains. However, some pockets of the state are known for their exclusive resort communities, giving the state a reputation as being one of the more expensive states in which to live. So it may surprise you to find that Colorado renters insurance is a real bargain. For less than the cost of a music CD, you can get about $20,000 worth of Colorado renters insurance.
Colorado renters insurance is an important expense because it covers all of your possessions if your rented home is damaged by fire, theft, vandalism or other disaster. For example, if the plumbing leaks all over your furniture, your renters policy will pay to have it replaced.
On the other hand, if someone trips and falls in your rented home, your Colorado renters insurance will cover their medical bills as well as your legal bills if that person (or his or her family) sues you over the incident. Renters liability insurance can give you true peace of mind.
Another way renters insurance helps is that it pays for temporary lodging and your meals if your rented home in Colorado become uninhabitable (such as by a fire or by storm damage).
Why You Need Colorado Renters Insurance
“But I don’t need renters insurance,” you may protest. “My stuff isn’t worth that much.” Think again. While you may not think your clothes, furniture or possessions are worth much, but how much would it cost to replace them if they were lost? You may have gotten your bed second hand, but imagine how much it would cost to try to replace it quickly if you had to.
Likewise, in the case of liability insurance, you need to have enough coverage to protect all your financial assets, including your checking and savings accounts, stocks, bonds, CDs and any other accounts. If someone sues you over a mishap in your rented home, that person can easily wipe out all the money you have.
Many people also have the mistaken impression that the landlord’s insurance covers all of the renters property. The only time that is true is if your loss was legally proven to be caused by the landlord’s negligence. If you don’t have contents insurance, you could lose everything.
Affordable Colorado Renters Insurance
“But renters insurance is too expensive, especially in an expensive state like Colorado,” many renters protest. Actually, renters insurance is quite a bargain: The average Colorado renters insurance (HO-4) policy costs $169 per year, about $14 per month. It’s tough to find a music CD or a DVD for that price these days. Yet for that money you can get about $20,000 worth of coverage in Colorado, which equals what you’d get if you bought $813 of homeowners (HO-3) coverage, according to the National Association of Home Insurers. When you consider that rents in Boulder, Colorado, averaged $1,392.43, you can see that Colorado renters insurance is well worth the cost.
Typically, Colorado renters insurance will pay to repair or replace your property if it is damaged, destroyed or stolen or if your rented home is rendered unlivable by a variety of catastrophic events, such as fire, storms, water-damage or electrical surges. It also covers damage or loss caused by theft or vandalism.
If your Colorado renters insurance is for your home in one of the beautiful valleys of the Colorado River, you’d be well advised to ensure that your renters coverage is valid against covers flood damage. If there is heavier-than-average snowfall, there will be an increased chance of flooding and an increased risk of flood damage, which is not generally covered by renters policies. Increased flood coverage generally costs a little more, but it is well worth it to protect your belongings.
Likewise, if you have anything particularly valuable, for example, furs, jewelry, electronic equipment etc. you may need to purchase additional renters coverage for those items. To make sure everything you own is covered, it is best to make a list of everything you own and its estimated value. Keep copies of this list in several areas: one in your home and several copies in other locations (for example, a safety deposit box, your workplace, a trusted relative’s home etc.) You can find online inventory worksheets to help you with the process.
You can also easily get several Colorado renters insurance quotes online. Simply use our Colorado quote comparison tool to get started. It only takes a few minutes to get your first quote. Take a few more minutes to get several quotes in order to be sure you are getting the best deal in Colorado.
One way to get a great deal on your Colorado renters insurance is to combine your renters policy with your car or life policy. Working with one company for all your coverage is a common way to get a discount.
Another way to get a better renters premium is to increase your deductible, the amount you pay on your own before your coverage takes effect. By raising your deductible, you will greatly reduce your premium and make your renters policy even more affordable. Of course, you need to be sure you have the money on hand to pay your deductible if you need to do so.
Getting a Colorado renters insurance quote online is a very quick and easy process. Not only can you use them to get the best rate, you can also use them to figure out the most economical place to live. For example, if you can’t decide whether to live in Arapahoe or in Denver, use the online quote process to determine which has the lowest renters premium to help with your decision.
You can also use the online quote process to determine which Colorado renters insurance company best suits your needs. When you’re going through the quote process, you can develop a feel for which company is easiest to work with. Are the directions easy to follow? Are terms adequately defined? Are there links or telephone numbers for more information? If you call the company, how easy is it to talk to a “real” person? These are all important measures of a company’s customer service.
It is also a good idea to call Colorado’s insurance office, 303-894-7499, to find out if there have been any complaints against any companies you are considering. You should also check with the local Better Business Bureau. By contacting these agencies, you can find out how the complaints were resolved. You don’t want to be left in the lurch by a shady company.
You should also contact the company itself to gauge how easy it is to reach an agent or company representative. If you ever need to make a claim, you want to be assured that you can get it resolved quickly, especially as it will likely be an emotional time for you. If, during the quote process, an agent seems less than eager to answer your questions, look elsewhere.
So what are you waiting for? Compare cost and coverage details from the Colorado cities of: Denver, Aurora, Colorado Springs, Boulder, Fort Collins, Loveland, Arvada, Canon City, Durango, Edwards, Fort Morgan, Grand Junction, Greeley, Lakewood, Montrose, Pueblo, Silverthorne, Sterling, Westminster and more.