Best Renter's Insurance Companies in Lakewood

FAQs

• How should individuals in Lakewood make an inventory of their personal items for renters' insurance?

  Lakewood residents should list all of their belongings with estimated values for renters' insurance. It is recommended to create a video record of expensive items and save their serial numbers. This inventory can be kept in a secure location, such as a safe deposit box, or in digital form to ensure that it can be retrieved in the event of a disaster at the rented property. These steps aid in determining accurate coverage.

• What types of incidents are not covered by a standard renters' insurance policy in Lakewood?

  Standard Lakewood renters' insurance policies typically do not cover losses caused by earthquakes, sewage problems, or floods. Additionally, the renter is not responsible for damage resulting from their intentional or careless actions. Residents who own valuable items, such as jewelry or artwork, may require additional coverage. A knowledgeable agent is recommended for advice on securing additional protection for such items.

• Is it beneficial for Lakewood tenants to add a roommate or significant other to their renters' insurance policy?

  Yes, if roommates or significant others are named on the lease, Lakewood tenants should include them on their renters' insurance. This simplifies the claims process for the shared property by requiring only one filing. It also allows for the insurance premium to be split, making it more cost-effective for both parties.

• Is renters' insurance mandatory for tenants in Lakewood?

  No, renters' insurance is not required for Lakewood tenants, but landlords may make it a condition of the lease. During the rental application process, it is a good idea to confirm this with the landlord. Despite the fact that it is not required by law, renters' insurance provides protection against financial losses caused by incidents such as fire or accidental property damage.

• Why should Lakewood landlords encourage their tenants to obtain renters' insurance?

  Landlords in Lakewood should encourage tenants to obtain renters' insurance to protect their belongings in the event of a covered event. They should also think about recommending policies that include additional coverage for natural disasters like floods or earthquakes, based on the value of personal belongings. Furthermore, landlords should encourage tenants to keep an up-to-date inventory of their belongings in order to facilitate a smoother claims process.