Learn the Basics of Renters Insurance

renters insuranceHomeowners are not the only people who need insurance policies  in Colorado Springs. Renters must also be properly insured as well. Often, it is a requirement in the lease agreement. Having renters insurance is the best way to ensure all of your important and expensive possessions are protected. Not only does renters insurance cover your personal property, but it also protects you from liability claims during your rental period. If you think such valuable insurance is financially out of reach, you can rest assured that it is affordable as well.

 

Covering your possessions with renters insurance

Your possessions likely hold a significant amount of sentimental value for you. So, you might not consider their monetary value, and you might be surprised at how much your possessions are actually worth. But, when you add up the value of your clothes, electronic equipment, small appliances and furniture, you will find it is worth a great deal. So, it is to your advantage to insure them appropriately,

 

Liability claims

Renters insurance not only covers your possessions, but it also protects you from liability as well. This is helpful if a visitor to your home is injured due to negligence on your part and the injured party decides to sue you. When you determine the amount of liability insurance you need, be sure to keep in mind the monetary value of your possessions, to assure you are properly covered.

 

Valuables

A renters insurance policy will cover your valuable possessions up to the amount stated in your policy. You may choose to purchase optional additional coverage at an extra cost. Possessions that may require additional coverage include, but are not limited to:

  • Jewelry
  • Furs
  • Fine art
  • Musical instruments

 

Do not forget that your rented home is still your home and it is important to you. Be sure to insure it and the possessions inside accordingly.