What is Renters Insurance?

There seems to be insurance for almost anything these days, from life insurance to pet insurance. When you are renting, however, you should have renters insurance. Not as prominent as homeowners insurance, many people have never even heard of it. In this blog post, Mountain-N-Plains Real Estate Services, a top-notch property management company in Fort Collins, will review the ins and outs of rental insurance. When you need either a residential or commercial property management company, or you are looking for a rental in Fort Collins either for your home or business, contact us today!


Renters insurance functions similarly to homeowners insurance, except it doesn’t cover the structure you live for the simple fact you don’t own the building. However, renters insurance will cover your belongings inside the building if you purchase the appropriate insurance for those items. It also protects you if someone is injured at the place you are renting.


Like homeowners policies, you can choose what is covered and what is not covered when it comes to your personal belongings. Intuitively, the less of your belongings you have covered, the cheaper your renters insurance policy will be. Most of your personal property will be covered, such as clothes, furniture, and electronics, up to your coverage limit. You’re covered for liability in case someone is injured at your place, and it’s your fault. If your rental property in Fort Collins is damaged, your hotel bill will be covered for the immediate time being.


The answer to this question basically depends on how much stuff you own. Mountain-N-Plains Real Estate Services suggests you sit down and take inventory of how much it would cost to replace your belongings if a fire were to occur, for example. You need to make sure you have enough coverage to replace your most important assets. Furthermore, if you have an expensive collection, such as coins, guns, or jewelry, you may need additional coverage than what is offered under you typical policies. Make sure you understand what is covered and what is not covered under your renters insurance policy.


If something were to happen to someone at your home, you should just expect to be sued in this day and age. Thus, you need insurance coverage to pay for that. If someone tripped over your dog and fell and broke their arm, you would be covered under your renters insurance liability coverage.

Mountain-N-Plains in Fort Collins wants to remind you that renters insurance works like most insurance policies — you are paid the amount of your claim minus your deductible. The lower your deductible, the higher your premium typically is.


Renters insurance protects you, and because it does not cover the price of the building, it is usually cheap and affordable. Mountain-N-Plains notes that some landlords require you to have a renters insurance policy as a stipulation of renting their home so to minimize their loss as well if something were to happen to the home.

Another perk of renters insurance is that it covers your stuff even when it’s not in your home, such as when it’s in your car for example, or when it’s at the local coffee shop. Renters insurance will also cover damage you cause in a home, like if you forgot to turn off the water to your outdoor faucet and the basement floods.


If you are renting an apartment or a home in Fort Collins, Mountain-N-Plains recommends that you have renters insurance. For the price of a couple of specialty coffees a month, you can have peace of mind knowing you and your belongings are safe. Let’s face it, fires happen, and property is stolen. One day it may be you, and you should be prepared just in case.

Mountain-N-Plains Real Estate Services offers residential and commercial rental properties in Fort Collins and Northern Colorado. We are passionate about helping you find the home of your dreams, even if it is just temporarily. We all want to be comfortable, and we will work with you when looking for a Fort Collins rental to find the majority of what you want and need in a rental property. Contact us today to get started!