Renters Insurance

We work with most of the major insurance companies who offer renter’s insurance coverage to California residents. Our knowledgeable agents can assist you in finding a comprehensive policy at a reasonable price. You can easily and safely compare policies and get quotes from several different insurance firms and then choose the coverage that best fits your needs and budget.

Why It’s Important to Have Renters Insurance in California
If you live in a rental property in California, you may already be aware of the importance of having renter’s insurance. A comprehensive renter’s policy protects your personal property against damages and loss in the event of fire, theft, or natural disaster. It can also provide liability coverage in the event a visitor to your home or apartment injures themselves. Many people don’t think about the consequences of this happening, but unfortunately accidents do occur. Without the proper liability coverage, you can be sued for damages. This can put your income, your savings, your personal property and even your future wages at risk.

The Cost of Renters Insurance
An average rental insurance annual premium will generally cost between $200 and $300. The actual amount you will pay depends on many factors, such as:

  1. Where the property is located.
  2. The estimated value of your personal property.
  3. The type of dwelling you live in.
  4. What type of coverage you select.
  5. Which deductible amount you choose.
  6. Your credit history/credit score.

Generally, there are two types of coverage offered to renters. One is Actual Cash Value which pays you the amount an item is worth at the time it is stolen or damaged (depreciated amount). Replacement coverage actually pays you the amount needed to replace the item at the current market price. Replacement coverage will normally cost about 25% more than Actual Cash Value coverage.

Insurance experts estimate that the average cost of renter’s insurance is about $15 per month. For this price an individual can get $30,000 worth of personal property coverage and $100,000 worth of liability protection.

Common Myths about Renters Insurance
There are many reasons why people think they don’t need renter’s insurance coverage. Unfortunately, most of them are not based in fact. Here is a sampling of the most common myths:

  1. It’s too expensive. As previously explained, renter’s insurance is actually a great deal. When you consider what it would cost to replace your personal property in the event of theft, fire, or some other covered natural disaster out of pocket, it’s easy to see why having renter’s insurance coverage is a smart choice.
  2. I don’t own very much. It’s a well-known fact that most people severely underestimate the monetary value of their possessions. An easy way to calculate this is to make a complete inventory of everything you own and put a current price tag on each item. You will probably be amazed at how quickly it adds up. You should include furniture, clothing, appliances, electronic equipment, rugs, jewelry and all other items inside of your home or apartment. Unless you can afford to personally pay to replace all of this property, renter’s insurance is the safest option.
  3. My landlord’s homeowner policy will cover my things. Your landlord’s homeowner insurance policy only covers the actual building (structure) where you are living and the land on which it is built. Everything inside of the apartment or home is the responsibility of the renter.

California renters should be aware that a typical renter’s insurance policy does not cover loss or damage due to earthquakes and floods. You should speak with your agent when you are writing up your personal policy so that you can add this additional coverage if you choose.

We are available to assist you 24 hours a day. When shopping around for California renter’s insurance, it is always a good idea to contact several different companies. This allows you to compare policies and get quotes so that you can make the best decision when it comes to getting renter’s coverage. Our trained staff can help you do this quickly and easily from the comfort of your home or office. Then you can choose a renter’s insurance policy which meets your personal needs at a price you can afford.