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1155 Kelly Johnson Blvd, Suite 440
Colorado Springs, CO 80920

RENTERS’ INSURANCE OPTIONS FOR COLORADO RESIDENTS

TOP-TIER RENTERS’ INSURANCE IN COLORADO SPRINGS

In the hustle and bustle of daily life, the last thing you want to worry about is something happening to your apartment, condo, or other rental, resulting in damaged or lost items. Renters’ insurance in Colorado Springs is crucial to help you protect what matters most. It’s similar to a home insurance policy but tailored for those who rent instead of own. Colorado renters’ insurance policies help replace and repair possessions and property if you experience unexpected damage. Plus, you’ll be required to carry a policy if you’re living in an apartment.

Alliance Insurance of the Rockies specializes in Colorado renters’ insurance, including renters’ insurance in Colorado Springs. Our team will assist you in selecting the ideal plan for your needs. Contact us today to get started with a free quote.

A couple with renter's insurance.

What is Renters' Insurance?

Renters’ insurance, also known as tenant insurance, is a vital form of protection for individuals residing in rental properties, including apartments, duplexes, or houses. Similar to home insurance but customized for renters, it serves to safeguard personal belongings and provide liability coverage in case of unforeseen events or damages.

In Colorado Springs, renters’ insurance is especially essential, considering its role in replacing or repairing possessions and property damaged due to various circumstances, such as fire, theft, or natural disasters. Additionally, many landlords in Colorado require tenants to maintain renters’ insurance as part of their lease agreement, further highlighting its significance.

Alliance Insurance of the Rockies, your reputable insurance brokerage in Colorado Springs, offers assistance in selecting the most suitable renters’ insurance options tailored to individual needs. No matter what type of rental property you reside in, securing renters’ insurance is crucial for preparing for unforeseen incidents and ensuring financial protection.

OUR RENTERS’ INSURANCE PROCESS

Finding cheap renters’ insurance in Colorado that protects you and your possessions can be complicated. Here’s what you can expect when getting your policy with Alliance Insurance of the Rockies:

  • We’ll determine what type of premium and deductible work best for you and help you save money wherever possible, ensuring your policy aligns with Colorado renters’ insurance standards.
  • We’ll discover the best renters’ insurance rates in Colorado Springs, including comprehensive coverage options customized to your specific needs, ensuring your home is adequately protected.
  • As a full-service insurance brokerage in Colorado Springs, we’ll get your policy set up and running, alleviating the burden of managing your policy independently and ensuring compliance with Colorado renters’ insurance regulations.

 

With Alliance Insurance of the Rockies, securing reliable Colorado Springs renters’ insurance has never been easier. Contact us today to get started with a free consultation.

WHY IS RENTERS’ INSURANCE IMPORTANT?

Renters’ insurance is crucial for Colorado residents, especially considering Colorado renters’ insurance standards. While not legally mandated, many landlords require it, making it imperative for securing rental accommodations. Beyond fulfilling landlord requirements, renters’ insurance is a smart way to safeguard yourself and your belongings, particularly in emergencies.

In Colorado, landlords must insure the building, but this coverage doesn’t extend to your personal belongings. For instance, if a fire ravages your apartment, your landlord’s insurance will cover the structure’s restoration, leaving you responsible for replacing your clothes, furniture, and valuables out of pocket. With renters’ insurance, you’d receive compensation to replace your possessions and cover additional living expenses until you can return home.

Contact one of our expert insurance brokers to learn how renters’ insurance in Colorado Springs, can provide crucial financial protection for you.

Is Your Insurance Protecting You?

WHAT DOES RENTERS’ INSURANCE INCLUDE?

What your renters’ insurance includes will depend on the company you are insured through and the plan you choose. For example, you can purchase additional coverage for damage caused by flooding or earthquakes since these are not covered perils under many plans.

Since Alliance Insurance of the Rockies is a brokerage, we can help you review plans from the top renters insurance companies nationwide. Since we aren’t affiliated with a specific company, our only priority is to help you find the perfect renters’ insurance in Colorado Springs!

Most renters insurance plans will include the following types of coverage:

Personal Property

Personal property coverage helps you replace destroyed or damaged items. Your insurance agreement will detail what counts as a covered incident but typically covers fire, theft, and hail. You can opt for replacement cost coverage or cash value coverage.

Medical Coverage

Accidents happen. Medical coverage through your renters’ insurance helps you pay for those accidents. Medical coverage policies cover minor injuries for your guests too. Medical coverage policies cover minor injuries for your guests too, so you can rest easy knowing everyone in your home has coverage.

Personal Liability

We always recommend choosing a plan with personal liability insurance. If you or one of your guests gets injured in your home, having personal liability coverage will help cover any costs.

Loss Of Use

Loss of use coverage through your renters’ insurance pays you to stay somewhere else if a covered loss makes your home unlivable. That way, you can focus on recovering your losses rather than worrying about where you’ll live in the meantime.

HOW MUCH IS RENTERS’ INSURANCE IN COLORADO?

The cost of renters’ insurance depends on various factors, including who the provider is and how much your belongings are worth. The most common property coverage for renters is $25,000 and $50,000, while liability coverage is somewhere between $100,000 and $300,000.

Alliance Insurance of the Rockies will help you choose an affordable, comprehensive policy that fits your needs. Renters’ insurance in Colorado Springs averages about $180 per year. The listed companies provide affordable renters’ insurance rates:

The graphic shows a chart of different renters insurance rates in Colorado Springs.

What Factors Affect Renters Insurance Rates?

If you’re wondering how insurance companies in Colorado set rates, here are a few of the factors they look at:

  • Where you live: Some places are more expensive to insure than others. If you live in an area prone to flooding or wildfires, you may need to purchase additional coverage.
  • How much coverage you need: Calculate the value of your possessions to avoid underinsuring yourself, but the bigger your policy is, the higher your rates will be. Make sure you’re adequately covered with renters’ insurance in Colorado Springs.
  • Your deductible: High deductible plans have cheaper monthly rates, but you’ll owe more out of pocket if you need to make a claim.
  • Type of coverage: Plans offering replacement cost coverage will be more expensive than cash-value plans.

 

If you want to know how much you can expect to pay for renters’ insurance, schedule a consultation with Alliance Insurance of the Rockies. We’ll help you find affordable renters insurance in Colorado Springs that match your needs.

RENTERS INSURANCE FAQ

You don’t need to buy renters’ insurance in Colorado, but some landlords may require you to have renters’ insurance to become their tenant.

Most renters’ insurance policies cover various items, including clothes, appliances, jewelry, furniture, electronics, firearms, and books.

If your landlord has an insurance policy, it’s still crucial for you to obtain renters’ insurance. Your landlord’s policy covers damage to their building or property but doesn’t protect you or your belongings.

File a claim with your insurance representative as soon as possible. If you need permanent repairs, contact your insurance company before taking any permanent measures. Insurance companies have the right to inspect your property in its damaged state. 

In the meantime, you can make emergency, temporary repairs, such as boarding up windows. Contact the police, file a report, and contact your insurance representative if you had property stolen.

Yes, renters’ insurance covers your belongings regardless of their location. However, there are always limits and exclusions to insurance policies. Discuss these with your insurance agent so you fully understand your coverage.

You and your roommates can share a policy if everyone is on the insurance agreement. Your roommates’ property is not covered under your insurance unless they are listed. You and your roommates can also opt for separate coverage.

The average rent in Denver is about $1,994 per month for a one bedroom, one bathroom apartment. The location of your place in Denver and the size of your apartment or house will help determine your rent. 

Your Denver rent can drastically differ from the city average, depending on where you live. If you live in Westwood, rent is typically more affordable. However, rent can jump to $2,521 for a home in Congress Park.

The average rent for an apartment in Colorado Springs is about $1,553. For a more affordable apartment, consider a place in Old North End. If you’re willing to spend more, a one-bedroom apartment in Flying Horse Ranch averages $1,671.

To lower your renters’ insurance premium, you have a few options. You can raise your deductible, bundle your policy, ask about available discounts, and choose the correct coverage amount.

Whether your child needs renters’ insurance depends on various factors. If your homeowner policy covers them or if they’re living on campus, they may not need renter’s insurance.

OUR CARRIERS

REQUEST A NO-OBLIGATION RENTERS’ INSURANCE QUOTE

Being a responsible renter in Colorado includes understanding your insurance options. At Alliance Insurance of the Rockies, we’ll help you choose a policy that suits your unique needs. With over 25 years of experience, we’ll help protect you, your property, and your family from fire, water damage, theft, and other unforeseen circumstances. 

Are you interested in learning more about cheap renters’ insurance in Colorado Springs? Please fill out the form to the right. We look forward to working with you!

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