Best Renter's Insurance Companies in Lakewood

FAQs

• Is renters' insurance necessary for residents in Lakewood?

  To safeguard their possessions against loss, fires, and specific kinds of water damage, tenants in Lakewood are encouraged to obtain renters' insurance. While personal things might not be covered by a landlord's policy, renters' insurance might aid with additional living expenses and liability coverage if someone is hurt in the rental property.

• Can landlords in Lakewood legally force tenants to get renters' insurance?

  Landlords in Lakewood may stipulate renters' insurance in their lease agreements. If a tenant demonstrates coverage through another insurance policy, this requirement might be waived. Absent a lease mandate, landlords cannot compel renters' insurance, yet tenants should consider it prudent to acquire a policy to protect against potential personal property damages.

• What are the differences between "named peril" and "open peril" renters' insurance for Lakewood residents?

  "Named peril" renters' insurance in Lakewood protects personal belongings from particular occurrences like theft or fire; the policyholder bears the burden of demonstrating the loss. On the other hand, "open peril" insurance offers broader coverage at a higher cost and covers reasons not specifically excluded. The insurer is responsible for proving exclusions.

• What basic steps should a Lakewood resident take to file a renters' insurance claim?

  When Lakewood renters need to file a claim, they should immediately contact their insurance providers. It's crucial to document the damage by taking photographs, preserving all damaged items for inspection, and gathering receipts for affected items. Creating a detailed list of expenses incurred due to the loss is also essential. Avoid making major repairs or cleaning up until instructed by the insurance company.

• What liability coverage does renters' insurance provide to Lakewood residents?

  Renters' insurance in Lakewood covers residents against certain bodily injury and property damage liabilities, including legal defense costs in case of a lawsuit after a covered incident, within the chosen policy limits. Additionally, policyholders may opt for medical payments coverage, which pays for a visitor's medical expenses resulting from an injury at the policyholder's home, regardless of who is at fault. Various coverage limits are available for selection.