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Renter's Insurance


How much would it cost to replace everything you own?If something happens to the home or the apartment you rent,the owner’s or landlord's insurance policy will not pay to replace your belongings.

The owner’s insurance covers the building, not your personal property. That’s where renter’s insurance comes in.

If there’s a fire, theft or non-flood water damage, renter’s insurance will cover your personal property, your liability and more in case of a loss.

With average rents of $900 per month, it is more important than ever for Colorado renters to protect their belongings and to carry renter's insurance.

The questions below will help you find out some information about renter's insurance.




cover of Home Inventory Checklist brochure



Renter’s Insurance generally provides:

  • Personal Property Contents Coverage—protects your personal property and belongings in the case of fire, theft, and other perils covered in your policy.

  • Additional Living Expense—pays for your living expenses if the living space you rent becomes unlivable due to fire, theft or other damage to your home.

  • Personal Liability—protects you against claims someone else makes against you.

  • Premises Medical Coverage—pays the medical expenses of others accidentally injured on the property that you rent.

The renter’s insurance premium depends on your amount of coverage, but it does not cost more than a few lattes at your local coffee shop every month.

You may be eligible for discounts if you purchase both your renter's insurance and auto insurance through the same company—check with your insurance provider to find discounts. You can view our Premium Cost Comparison Page HERE


There are two standard homeowner/renter's insurance policies:

"Named Peril" is the most common renter’s or homeowner's policy. It will cover personal belongings against specifically named events such as fire, explosion, smoke, vandalism, and water-related damage. The burden of proof is on the claimant, who must show that a loss was caused by a named peril.

"Open Peril" provides coverage for any reason not specifically excluded. Because there is more coverage under this policy, the premiums for this policy tend to be higher. The burden of proof is on the insurance company to show that coverage is excluded.


As the name implies, “actual cash value ” reimburses you for the value of your property at the time of the claim and accounts for depreciation of your belongings. Replacement cost coverage, on the other hand, will reimburse the full value of the items you buy to replace your belongings.

Let’s say you lose an audio system that was purchased five years ago, and you make a claim. If you have actual cash value coverage, you will be reimbursed for the current value of the system, but this may result in a lower claim payment than you expect. Meanwhile, replacement cost coverage will reimburse you for the cost of a new audio system, after you purchase the new system and submit your receipts. Although the up-front cost is greater for replacement cost, you are more likely to receive better compensation for your lost possessions.

It is also important to remember that the value of the dollar changes over time. Your audio system may have cost $1,000 when you bought it, but the same audio system may cost $1,200 now. Be sure that your insurance policy accounts for the cost of your belongings in today’s dollars.


When a claim is reported, the insurance company will ask for proof of purchase for all items reported on the claim. You should have a comprehensive list of all possessions, including purchase prices, model numbers, and serial numbers; the list should also include pictures of your belongings, especially your high end valuables, such as jewelry and art.

Make a list of your belongings before disaster strikes. You can use Colorado Division of Insurance’s free Home Inventory Checklist. Be sure to store a copy in a safe place away from your home, or create an electronic copy and email it to yourself. The checklist also is available in Android and iPhone apps from the National Association of Insurance Commissioners.

 picture of NAIC logo for Android app, home inventory checklist



Students often bring their most valuable possessions to college: their laptops, bikes, iPods, TVs, etc. Students living away from home can experience loss of these belongings through events like fires and thefts. In fact, the Federal Office of Postsecondary Education (OPE) reports 14 fires, 10 cases of arson and 63 burglaries occurred in on-campus student residential facilities at public colleges and universities in Colorado in 2010.

For college students who live on- or off-campus housing., personal belongings can be covered with their own policies or through an extension of their parents’ homeowner or renter's insurance policies. If a college student is under 24 years old, enrolled in classes and living in on-campus housing, the student may be covered under his or her parents’ policy. On average, a dependent is covered for up to 10 percent of the parent's content coverage. For example, if the content coverage on the parent's policy is $100,000, the student's coverage would be for up to $10,000 in losses.

However, if a student is independent and living in an apartment, a separate renter’s policy would be appropriate. Check with your insurance agent regarding the specific provisions of your policy.


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(303) 894-7499 - Phone (800) 930-3745 - Toll Free (303) 894-7455 - Fax