Renters Insurance Information
Why should I buy renters insurance? Isn't it just an extra expense?
Here at Denver West Insurance brokers, when someone calls in for a quote for their auto (and don't own a home) we always suggest they allow us to quote a renters insurance policy as well ….and this is why.
Renters Insurance Is Cheap
The average cost of a policy is $15-$25 a month. And the purchase of renters insurance will give you a discount on your auto policy called a 'multi-policy discount'. This discount will sometimes pay for most or all of the renters insurance policy.
Renters Insurance Replaces Your Belongings if Destroyed or Stolen
Imagine all your belongings gone up in smoke in a matter of minutes. How much would it cost you to replace everything? This could mean a huge financial hit for most people. Isn't $15 - $25/month worth getting coverage to replace your property?
Renters Insurance Pays for Living Expenses
Several years ago a huge hail storm hit Golden, CO. Our client lived on the top floor of an apartment complex that suffered major damage and water leaked through the roof and caused electrical shorts throughout the building. Our client was told he had 24 hours to move out. He had to hire a trailer and move his belongings into a storage unit while he moved into a residence motel temporarily. Because he had renters insurance, all these additional costs were paid by his insurance carrier under a coverage called 'Additional Living Expense '.
Liability Coverage is Included in Every Renters Insurance Policy
If someone came into your apartment and got injured, or if your dog bit someone, or if you knocked someone over while sking; liability insurance coverage would pay the injured party for the medical bills on your behalf. All polices are written with at least $100,000 in liability coverage, but it's extremely cheap to incease this limit to $300,000 or even $500,000.
Most Landlords Require a Tenant to Retain a Renters Insurance Policy
Over the years we have seen more and more landlords require their tenants to purchase a renters policy. They know this protects them as well as the tenant.
At Denver West Insurance Brokers we've seen many happy clients replace belongings because they were covered properly. Give Us A Call. Let us quote a renters policy for you so you can see for yourself how inexpensive these policies are. We are located west of Denver in Golden CO and serve the surrounding communities of Lakewood, Arvada, Littleton, Wheat Ridge, Morrison, Evergreen, Westminster and the mountain region.