Homeowners Insurance and Renters Insurance
Where you live may just be one of the most valuable and important places to you. It’s where your belongings are, and if you live in a home, you’ve likely spent a lot of money on your property as well. Having comprehensive homeowners insurance or renters insurance in Colorado is nearly always a good idea. In some cases, it can help you to overcome otherwise devastating losses that could otherwise lead to financial strain.
Homeowners Insurance in Colorado
If you have a mortgage on your home, you are likely required under the terms of your contract to maintain comprehensive homeowners insurance for your Colorado home. This type of insurance provides exceptional support to you in a number of key ways.
- Protection for the structure: Homeowner insurance’s property insurance component protects your home from incidents such as fires, windstorms, falling trees, and theft.
- Contents insurance: Homeowners insurance also provides you with contents protection for your belongings within your home if they are lost in a covered claim including as a result of a fire or theft.
- Liability insurance: The liability component of your homeowners insurance plan protects you from claims made against you, such as medical costs for someone who fell on your property or was bitten by your dog.
- Legal defense protection: A key component of your liability protection is legal defense support, which can pay for your legal costs in covered claims when you are sued.
Renters Insurance in Colorado
Just because you rent your home doesn’t mean it isn’t valuable. Renters are often very vulnerable. Many don’t realize that their property owner or landlord’s insurance policy does not protect them, but only the structure and the property owner’s possessions. If a fire comes through your apartment complex, for example, your belongings are lost without renters insurance.
Renters insurance provides several types of protections:
- It protects the value of your belongings from covered perils. This includes your home furnishings, clothing, electronics, and most other types of belongings you store within your home.
- It provides liability insurance. This helps to protect you in situations where someone files a claim of negligence against you. They may fall on your property, be bitten by your dog, or otherwise are hurt while visiting you, for example.
Renters insurance is not expensive, but it is nearly always a good investment. Most individuals will find renters insurance is the best way to gain peace of mind when living in a building that someone else owns. You can purchase renters insurance for apartments, condos, and houses if you rent them.
Customizing your homeowners insurance is important. If you own highly valuable belongings, such as art, guns, antiques, or electronics, you’ll need to be sure your per-item limit is high enough to cover the value of those items and that your overall claim limit is high enough to cover a significant loss. If not, you may customize your policy with additional riders to ensure it is a better representative of your needs.
You can customize homeowners insurance to better represent your needs. Consider policies that:
- Provide insurance protection for all structures on the property such as garages, sheds, and work spaces
- Cover high-end valuables or collectibles
- Provide additional living expense cover and loss of rent in the situation where you cannot live in your home until it is repaired after a covered loss
- Identity theft recovery may be available
- Water damage from backups related to drains and sewers
- Earthquake and flood damage
Making your homeowners insurance the right fit for you is important since you’ll want to take every step possible to safeguard your assets, your structure, and your personal risk.
Getting Customized Quotes for Colorado Homeowners Insurance and Renters Insurance
If you live in Colorado, C&I Insurance is available to help you to obtain the custom renters insurance or homeowners insurance plans you need. Our team of knowledgeable professionals can answer all of your questions. Let our team offer a free, no obligation consultation and quote for the Colorado insurance you need. Start protecting your home today.