As a landlord it’s important to protect your investments, which is why Colorado requires landlords to purchase landlord insurance.
The insurance is required whether or not there is a tenant currently living on the property. As a landlord it’s your responsibility to protect the property you are or will be renting out to others from any potential damages that may arise.
Landlord insurance can provide protection for your property and you and your spouse or domestic partner against property damages, personal injury, wrongful eviction, or wrongful entry as well as other non-bodily injury claims such as libel and slander.
The Purpose of Landlord Insurance
Protection Without Tenants
One reason for having landlord insurance in Colorado is so you can protect your assets while the property is not being occupied. Through a basic insurance coverage policy, your property will be protected against perils such as fire, earthquakes, explosions, etc.
Protection With Tenants
The moment a tenant occupies your property, your landlord insurance policy will change. Your property not only needs outside protection, but you’ll now need inside protection on the rental property. In the event that the inside of the property is damaged by your current tenants, you should be covered.
We’re Here To Help
We want to help you have the best protection for you and your rental properties regardless if you have a tenant or not. As a landlord, it’s in your best interest to make sure the property is covered because a new occupant may come by any day.
If you’re a landlord searching for a landlord insurance within the state of Colorado, feel free to contact us at 303-761-7770 or request a free online quote today.