Renters Insurance Tips by Property Managers in Grand Junction, CO

Property managers in Grand Junction, CO agree that there is a common misconception about home insurance among their tenants. Many believe that, since the one who owns the property carries insurance for the building, there is no reason for them to buy renters insurance. The truth is far afield of this myth.

Residential management professionals offer these excellent reasons why tenants should consider renters insurance a necessity, rather than an optional luxury:

Protection from Legal Responsibility
If damage is caused to another resident's home, such as in the case of a fire spreading from one tenant's apartment to their neighbor's, liability protection insurance will keep the tenant from being held legally responsible.

Protect Personal Property
A tenant who maintains renters insurance will almost always be able to recover the depreciated monetary value of any personal property covered for damage or loss, which usually includes damage sustained in events such as fire, severe weather, flooding, and theft. An upgraded policy will cover the cost of replacing personal property lost due to covered damage.

Protect Your Visitors
In the event that a guest in the tenant's home suffers an accident while staying there and sustains injuries, their medical expenses can be completely covered by the tenant's rental insurance. This includes dog bites.

Property managers in Grand Junction strenuously suggest sharing the above information with all your residents. Renters insurance is only about fifteen dollars for Grand Junction real estate tenants, and the peace of mind that buys is worth much, much more.