More specifically, this reader is finishing up college and in the process of moving to a new city (Denver) and starting full-time work. They’ve rented homes with roommates for the past few years, for obvious reasons, and now things are a bit different. The lease on his new apartment reads, “All lease holders including co-signers and roommates will need to be covered on a renters insurance policy. A minimum of $50,000 in liability insurance is required.”
There are actually a few questions to be answered here. Effective Coverage can help you get renters insurance in Colorado in just sixty seconds online (just click above) or about three minutes on the phone. By working with the insurance experts for Colorado renters, you’ll find answers to even the most arcane questions and the best coverage at the best price. That’s the easy answer to where to get renters insurance.
But let’s dig into this lease requirement a bit, shall we. A fifty thousand dollar requirement is woefully insufficient to protect the resident – or, for that matter, the community. One small kitchen fire could exceed that easily, and put you in a position where you’re still on the hook for damages to the community or to other residents, even after the policy limits are exhausted. Going through the policy limits has implications for your defense against claims and suits, as well, since the insurer may not be required to defend you after they’ve paid the maximum amount required by the contract.
Denver Renters Insurance starts at about fifteen dollars a month. That’s going to be a reasonable amount of personal property coverage along with at least $100,000 of liability. Effective Coverage doesn’t offer less than $100,000, even if that’s what your community requires, because it is such an insufficient number – most underwriters won’t bother with it. But if you don’t want to be responsible for a loss larger than $100,000, you can increase those limits to $500,000.
That increase in liability coverage might add a dollar or two a month for the additional protection and the additional defense coverage. Liability is an area of insurance where there’s just no reason to skimp. It’s so inexpensive, and there are so many benefits that come from it, that it’s worth having well above the minimum. Did you know that your insurer has a duty to defend you even if the claim which the policy would pay or suit is frivolous, baseless, or patently ridiculous? It can get expensive defending yourself. Get covered.(800)892-4308 or click to get covered - whether you need Denver renters insurance quotes online or coverage anywhere else!
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