Renters Insurance for Colorado Renters
A renters policy is for people renting the home or apartment they live in. It can help with your belongings, your liability and a place to stay after a covered loss.
Many landlords require tenants to have a renters policy. It is often part of signing or renewing a lease.
Kamber Insurance Agency is based in Longmont. We help renters across Colorado understand their coverage in plain English. You have a lot going on. We try to make this part simple.
What renters insurance can help cover
A renters policy does not insure the building. It can help with the parts that are yours. Coverage depends on your policy, so here are the main parts to know.
- Personal property: furniture, clothes, electronics and other belongings, after a covered loss such as fire, theft, wind or hail.
- Personal liability: can help if someone is hurt in your rental or you damage someone else's property. It may also help with the cost of defending you, up to your limit.
- Additional living expenses: can help pay for a hotel, a temporary rental, meals and other extra costs if a covered loss forces you out of your place.
- Medical payments to others: many renters policies include this. It can help pay medical bills if someone is hurt in your rental, without a lawsuit. It usually does not pay bills for you or your family.
Actual cash value vs. replacement cost
How your belongings are valued matters after a claim.
- Actual cash value pays what the item was worth at the time of the loss, minus wear and age.
- Replacement cost pays what it would cost to replace the item with a similar one today, up to your limit, without subtracting depreciation.
Replacement cost may be available, but it is not automatic. Check your declarations page, or ask us to review it with you.
Colorado issues worth a closer look
Colorado weather and everyday life can put a renters policy to the test. Here are a few things to review.
Hail, your belongings and your car
Wind and hail damage to your belongings is usually covered. Your car is different. A renters policy does not cover the vehicle. Hail damage to a car is generally a comprehensive auto claim, if you have that coverage. If you have both renters and auto, we can help you sort out which policy applies.
Fire, smoke and wildfire
Fire and smoke are usually listed as covered perils for your belongings. If a fire or smoke makes your place unlivable, additional living expenses may also apply, subject to your limits. Wildfire situations can be less straightforward, especially if the damage is from nearby smoke or you have to leave before your unit is damaged. Check your policy, or ask us to walk through it with you.
Theft, including from a car
Most renters policies cover stolen belongings. Many also include off-premises coverage, so items stolen from a car or a hotel room may be covered, often with their own limits. The car itself, and damage to the car from a break-in, are auto insurance matters, not renters.
What a standard policy usually leaves out
- Flood: renters insurance does not cover flood. Flood coverage for belongings is a separate policy, often through the National Flood Insurance Program.
- Earthquake: usually not covered. It is bought separately.
- Sewer and sump pump backup: often excluded unless you add a water backup endorsement. This matters if you rent a place with a basement or lower level.
Read your policy's exclusions, or ask us to walk through them with you.
Roommates
A renters policy usually covers you and your family members in the household. A roommate is not usually covered automatically. They may need their own policy, or they may be able to be named on yours if that option is available. Do not assume one policy covers everyone in the apartment.
High-value items
Jewelry, art, antiques and similar valuables often have special limits, especially for theft. Those limits can be far less than the item is worth. Extra coverage may be available through a scheduled endorsement or a separate policy. If you have items like that, tell us so we can look at the limits on your policy.
Coverage you have vs. coverage that may be available
We keep these separate. First, we look at what your current policy actually says. Then we talk about options that may be available, like replacement cost on belongings, water backup, extra coverage for valuables or higher liability limits. Availability and eligibility vary. You decide what makes sense for your place and budget.
Based in Longmont, serving Colorado
Our office is at 255 Weaver Park Rd, Suite 206, in Longmont. We work with renters across Colorado. You can speak with us by phone or meet at our Longmont office. You do not need to live near Longmont to work with us.
Other coverage that fits with a renters policy
- Auto insurance, including comprehensive coverage that can apply to hail damage to a car
- Home insurance if you are buying a home or already own one
- Umbrella insurance in Colorado for extra liability protection
Want more detail on water backup? Read our guide on sewer and sump pump backup.
Renters insurance FAQs
Who is renters insurance for? It is for people renting the home or apartment they live in. Many landlords require tenants to have a renters policy. It is often part of signing or renewing a lease.
Does renters insurance cover hail damage in Colorado? Wind and hail damage to your belongings is usually covered. Hail damage to a car is generally handled under comprehensive auto coverage, not a renters policy.
Does renters insurance cover flooding or a sewer backup? Flood is not covered by a renters policy. It needs a separate flood policy. Sewer and sump pump backup is often excluded unless you add a water backup endorsement.
Does my policy cover a roommate? Not automatically. A roommate usually needs their own renters policy, or they may need to be named on yours if that option is available. Ask us before you assume one policy covers the whole apartment.
What is the difference between actual cash value and replacement cost? Actual cash value subtracts depreciation for age and wear. Replacement cost can pay to replace the item with a similar one today, up to your limit. Check which one your policy uses.
Are jewelry and other valuables fully covered? Often not. Many policies have special limits on jewelry, art and similar items, and those limits can be much lower than the item's value. Extra coverage may be available. Check your policy or ask us to review the limits.
Do I have to live in Longmont to work with you? No. Our office is in Longmont, and we help renters across Colorado.
Let's look at your renters coverage together
Send us your declarations page or give us a call. We will go over what you have, point out anything worth a second look and explain your options. A simple list of your belongings also helps. Our hours are Monday to Friday, 8 to 5.