In many cases, if a fire in a neighboring apartment causes smoke damage, burglars loot your apartment, or someone gets hurt while visiting you, renters insurance can help you replace belongings and cover medical and legal expenses. Licensed experts can help you make the best decision when it comes to renters insurance coverage. Use our guide to learn about renters insurance policies in California. Prefer to talk to a real person? Call [mapi-phone /] to get assistance.
What Is The Average Renters Insurance Cost in California?
In California, renters insurance averages about $207 a year. This is right on par with national average, and it doesn’t compare to the total cost of your belongings. Think about everything you own: electronics, clothing, dishes, appliances, and furniture. All of those things would cost you more to replace than to insure for a year. Plus, if you work for minimum wage, it only takes 23 hours a year to pay for your premium. Trust us, if you fall victim to a disaster or theft and aren’t insured, you’ll wish you were.
Of course, if you want extra coverage for specialty items, etc., it could cost more. Some condos also have their own renters insurance companies that include other unusual coverages. Traditional renters insurance rates are mostly based on personal belongings and liability.
How Reliable Is California Rental Insurance Coverage?
You come home and realize that all of your valuables have been stolen. Unfortunately, you’re not alone. In California in 2012, there were 245,767 burglaries. You can save yourself the immense headache and stress of being robbed if you have renters insurance. That’s because with renters insurance, you and your belongings will be covered and replaced often times at full retail price.
A renters insurance policy also protects your personal property in the case of fire, water damage (not flood), wind, and some but not all other weather related events. If you think about all of the things that could go wrong, you’ll see that it’s smart to have renters insurance. Even with the average policy being so cheap, companies usually pay out quickly and handle claims efficiently.
How Big A Benefit Does California Renters Insurance Offer?
45% of California residents are renters. Considering that the average price for a two-bedroom rental is $1,386 and the average cost of renters insurance for the year is only about $207, the small premium is worth the big protection it offers.
Unfortunately, not all renters understand the benefits. They assume they’ll be covered under their landlords homeowners or dwelling policy. This is not true. You as a renter are solely responsible for your own personal belongings.
What Kind Of Discounts Are Available with A Renters Insurance Policy?
Where you live, what you own, your claims history, and whether you have another policy with an insurance company all factor into your renters insurance premium. Even though renters insurance is already very affordable, there are still some discounts you can qualify for, including:
- Multi-policy: Bundle auto or another insurance plan with renters insurance and save. Most people in California have an auto, marine, or other policy. Keeping your policies in one place seems simple, but it can save you a bundle.
- No prior claims: If you haven’t ever filed a claim, you’ll save on your rental insurance premium. This discount treats big and small claims the same way
- Safety devices: Smoke detectors, sprinklers, anti-theft systems, and home monitoring systems can save you money. If you’re renting, you may not be able to make a lot of changes, but you can talk to an agent about your options.
- Higher deductibles: Agreeing to a higher deductible can lower your renters insurance premium. But be careful, make sure the deductible is something you can afford if you need to make a claim
Find Renters Insurance in California Today
If you’re shopping for renters insurance quotes in California, count on expert advice from licensed agents, trained to find a cheap renters insurance plan for you. Call one today at [mapi-phone /] to speak with a rental insurance specialist and begin your renters insurance quote.