(719) 687-6364

Call to Get a Free Quote

Mon - Fri: 9:00 - 5:00

Woodland Park & Colorado Springs

COLORADO RENTERS INSURANCE

COLORADO RENTERS INSURANCE OPTIONS

Renters insurance, also known as tenant insurance, is crucial in helping Colorado renters protect what matters most. It’s similar to a home insurance policy but is for those who rent instead of own. Renters insurance policies help replace and repair possessions and property if a renter experiences unexpected damage.

Alliance Insurance of the Rockies will help you choose a renters insurance option suitable for your unique situation. Whether you live in an apartment complex or rent a duplex, renters insurance helps you prepare for the future.

Finding cheap renters insurance in Colorado that still protects you and your personal possessions can be complicated. Our home insurance experts will help you compare your coverage options. We’ll determine what type of premium and deductible work best for you and help you save money wherever possible.

So, partner with Alliance Insurance of the Rockies to discover the best renters insurance rates in Colorado Springs. As a full-service insurance brokerage in Colorado Springs, we’ll help you find the best renters insurance at an affordable rate.

A couple with renter's insurance.

WHY IS RENTERS INSURANCE IMPORTANT?

While renter’ insurance is not legally required in Colorado, it is one of the best ways to protect you and your belongings in an emergency. Colorado landlords are required to insure the building but not your belongings.

For example, if your apartment is destroyed in a fire, your landlord’s insurance will pay to rebuild the complex. Meanwhile, you’ll have to pay out of pocket to replace your clothes, furniture, and valuables. Plus, paying for a hotel or short-term rental while your apartment is uninhabitable. With renters insurance, however, you’d receive a payout to replace your possessions and to cover additional living expenses until you can move back into your apartment.

To learn more about how renters insurance can protect you financially, contact one of our expert insurance brokers.

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!

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 things like fire, theft, and hail. You can opt for replacement cost coverage, allowing you to replace your damaged items with new ones, or cash value coverage, which includes depreciation.

Medical Coverage

We all know that accidents happen. Medical coverage through your renters insurance helps you pay for those accidents. In addition, medical coverage policies cover minor injuries for your guests as well.

Personal Liability

We always recommend choosing a plan with personal liability insurance. If you cause bodily injury or property damage to someone else, having personal liability coverage will help cover any costs. These policies usually cover up to a six-figure range.

Loss Of Use

Loss of use coverage through your renters insurance pays for you to stay somewhere else if a covered loss makes your home unlivable. The primary purpose  is to help individuals smoothly recover while retaining their standard of living.

HOW MUCH IS RENTERS INSURANCE IN COLORADO?

The cost of renters insurance depends on various factors, including which company provides your Colorado renters insurance and how much your belongings are worth. The most common levels of insurance coverage for renters are $25,000 and $50,000.

 Alliance Insurance of the Rockies will help you choose an affordable, comprehensive policy that fits your needs. Colorado Springs renters insurance averages about $180 per month. The listed companies provide cheap Colorado Springs 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 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 an area prone to flooding or earthquakes, you may also need to purchase additional coverage.
  • How much coverage you need: It’s important to calculate the value of your possessions to avoid underinsuring yourself, but the bigger your policy is, the higher your rates will be.
  • Your deductible: High deductible plans have cheaper monthly rates, but that also means you’ll owe more out of pocket if you need to make a claim.
  • Type of coverage: Plans that offer replacement cost coverage, for example, 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 cheap renters insurance options that make sense for your needs.

RENTERS INSURANCE FAQ

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

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 it doesn’t protect you or your personal belongings.

It’s essential to 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.

If you need to make emergency, temporary repairs, such as boarding up windows, you may. 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. It’s important to discuss these with your insurance agent, so you fully understand your coverage.

You and your roommates can share a policy as long as everyone is listed 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. 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. For example, 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 per month. 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 a month.

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 him or if he’s living on campus, it may not be necessary. We can help you decide if buying renters insurance for your child in college is worth it.

OUR CARRIERS

REQUEST A free COLORADO RENTERS INSURANCE QUOTE

Being a responsible renter in Colorado includes understanding your insurance options. At Alliance Insurance of the Rockies, we know how to help you choose a policy that suits your unique needs. With over 25 years of experience, we’re prepared to help you evaluate your insurance options and choose the right policy. We’ll ensure you, your property, and your family are protected from fire, water damage, theft, and other unforeseen circumstances.

If you’re interested in learning more about renters insurance options, please fill out the form to the right. We look forward to working with you!

Before You Go...

Please help us give you a better experience!