Homeowners' / Renters Insurance
Insurance-related information about what can be done before a disaster strikes, if under an evacuation order or alert or post-disaster.
With recent challenges in Colorado regarding homeowners insurance and insurance for HOAs, the Division of Insurance has developed a toolkit with information like common terminology, resources and frequently asked questions about current issues, coverage and strategies to help navigate the market.
All insurers providing homeowners', renters', condominium and landlord (also called "dwelling fire") insurance must provide these summaries, as required per Colorado Revised Statute 10-4-111 and Division of Insurance Bulletin B-5.15 which states the following.
"The summary disclosure forms must contain an explanation of major coverages and exclusions as well as general factors considered in cancellation, nonrenewal and increases in premium."
Additionally, the summaries provide information on the coverage of other structures, contents, additional living expenses, personal liability, medical payments, additional coverage to consider purchasing and general exclusions. However, the information in these summaries does not replace any policy provision. Read your policy for specific details, including the terms, conditions, special limits and exclusions of your policy.
Renter’s Insurance generally provides:
Renter’s insurance premiums will depend on your amount of coverage. 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. Also you can view our Homeowners Premium Cost Comparison.
Make a list of your belongings before disaster strikes - If you ever have to file a claim, 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 any high end valuables. You can start simple by using a pad and pencil, but know there are many versions of home inventory checklists available online and as apps for smartphones - and these versions are detailed and thorough. If you create a physical document, be sure to store a copy in a safe place away from your home, or create an electronic copy and email it to yourself.