Recommended Renters Insurance Features for Denver Renters

When they are in the process of moving into a community in this southwestern urban center, Denver renters may want to consider what’s known as renter’s insurance coverage for providing themselves peace of mind about compensation for their household possessions in any unfortunate event. Renter’s insurance is a specific policy where an insurance company will pay out on any loss of your valuables from an event that impacts your home, whether you’re renting a house or an apartment.

Unlike homeowner’s insurance, renter’s insurance is optional, but it’s a very good idea for any tenants. Those in the Denver, Colorado area should look at some specific additions for their renter’s insurance to make sure they’re covered for all of the right contingencies that tend to affect homes in the Denver area and surrounding communities.

Fire Damage

The state of Colorado includes communities at high risk for wildfire damage. Experts point to a 2002 wildfire season that followed a drought. Statistics for the state, as well as indicators that Colorado’s forests are recovering from fire exclusion, make it a good idea to include specific fire damage coverage in your renter’s insurance for the city of Denver and nearby communities.

Avalanche and Landslide

Risk assessments in Colorado show that some personal properties are at risk for damage from landslide or avalanche conditions. This is a specific regional danger that renters should look out for their renter’s insurance policy, as well as something to look out for on the slopes or in excursions into park or natural areas.

Hail

Historic natural disaster reports show that between 1993 and 2000, the state of Colorado experienced 2000 hail storms with a total of more than $300 million in damage. Many types of property can be impacted by a hailstorm. Check your renter’s insurance policy for this important endorsement.

Earthquake

According to experts, seismologists have mapped over 1000 faults in the state of Colorado. That makes the region an earthquake-prone area of the U.S.. Your renter’s policy may or may not include earthquake coverage. If not, think about adding this specific kind of clause.

Flood and Water Damage

Almost all U.S. states are vulnerable to flooding, and the Denver area is no exception. Many Denver properties are located near floodplains, and that makes research critical to renters who want to protect their possessions from water damage. It’s also a good idea to look at the liability you might face in a multi-tenant building from broken pipes, improperly maintained water systems, or any other mistake that will cause water to run into your apartment.

All of the above are things to think about adding onto a renter’s insurance policy that will cover any damage to your Denver home. Checking a renter’s insurance policy for these kinds of specific conditions is important for making sure your policy premium is a useful safeguard and not just wasted money. Also check with your insurer about specific requirements for documenting value on any of your possessions, to avoid any unpleasant surprises if your household would unfortunately need to make a claim.