Boulder Renters Insurance | Rick Baker Insurance in Boulder, Colorado

Renters Insurance

If you rent property, you’re likely required to carry some level of renters insurance. Renters insurance ensures that both you and your rental property are protected in case of a disaster.

On this page, we’ll talk about the different kinds of renters insurance, what it covers, and why you should partner with aninsurance agency like Rick Baker Insurance.

What does renters insurance cover?

There are a few different kinds of coverage that you can opt for when designing your custom renters insurance policy including personal property coverage, liability, and additional living expenses.

You’ll need to check with your landlord to determine what coverage are required and how much of each you’ll need.

Personal property coverage helps you pay to repair or replace items that are stolen from your property. This can include things like electronics, furniture, or even clothing. This kind of coverage can also help you in the case of things like a flood, a fire, or a natural disaster.

Liability coverage can help lessen out-of-pocket costs for repairs caused by damage that you accidentally incur to someone else’s property. Not only that, but if someone gets hurt on your property, liability coverage can help you cover their medical bills if you’re found to be responsible for their injuries.

Additional living expenses coverage is one of the less common kinds of coverage, but it can come in handy if your apartment is unlivable for a period of time. This coverage can pay for things like hotel rooms if you need to vacate from your rental property.

Do you need renters insurance for your rental property?

If you’re on the fence about whether or not to opt for rental insurance, you’ll want to first check with your landlord. Many rental properties, like apartments, require you to carry some form of renters insurance.

This protects the complex from having to pay out of pocket if you damage your property, but it also protects you from paying out of pocket in the same situation.

In the long run, it’s best to opt for renters insurance since you never know what might happen to your property.