California is a great place to live with its diverse landscapes, expansive coastline, and sunny skies. California is one the most expensive places to purchase a home, with a median property value of nearly $550,000. For those who call California home, renting a condo, house or apartment is a great option.
Renters insurance is a good option if you are renting your home. Renters insurance covers personal property and provides liability coverage to protect you from lawsuits. California residents need to be aware that basic policies don’t cover earthquake losses, which can pose a risk to many California homes. According to the Insurance Information Institute (Triple I), renters insurance in California costs $178 annually.
California’s top renters insurance companies
Bankrate’s editorial staff reviewed all major insurance providers in California to help you choose the best renters insurer. J.D. was used to analyze the companies. We analyzed the companies using J.D. These are the top companies for renters’ insurance in California based on our research.
Allstate offers insurance through a network, which might appeal to you if your preference is to deal with your insurance in person. There are a few customization options available for the renters insurance policy, including flood insurance. Allstate may offer a quote if you live in an area that is susceptible to flooding. Flood coverage is an additional policy. However, having both policies from the same company can be beneficial.
American Family provides renters insurance that includes some unique endorsement options. American Family may be a good choice if you have pets. American Family also offers a pet insurance endorsement that provides $1,000 coverage for your pet in the event they are hurt by a covered loss. American Family also offers travel insurance, which includes coverage for cancellations and global medical insurance.
Nationwide is a great choice if you value flexibility in your renters insurance. The company allows you to request a quote online or by calling an agent. Your agent can review your Nationwide policy to ensure that your coverage meets your needs. This is especially helpful if you don’t know how much renters coverage you need. This service could prove helpful if you are unsure about your needs and want to discuss them with a licensed agent.
State Farm is a well-known name in the insurance sector. They offer a variety of products, including renters insurance. These include auto, home, and life insurances, as well as banking services. State Farm has agents available throughout the country. State Farm may be the right choice for you if you’re looking for an insurance company that also handles your banking needs.
California renters insurance costs average
Renters insurance policies in California cost an average of $178.
Many factors affect your premium, including your deductibles and coverage limits. Your marital status and age can have an impact on how much you pay. California renters insurance rates will not be affected by your credit score, ZIP code, gender, or marital status.
California renters pay roughly the same amount for renters insurance as the rest of the country.
Renters insurance costs can be affected by many factors. California is close to the national average at $179 per annum.
California renters insurance options
Most renters insurance policies provide basic coverages such as:
- Personal property: Personal property insurance covers personal property in the event they are damaged by an insured peril. This covers furniture, clothing, and certain electronic devices.
- Personal liability: This coverage covers you for the cost of replacing or repairing someone else’s possessions if they are damaged in an accident. Your personal liability coverage will pay the medical bills of guests who are injured at your house, if they are found to be responsible.
- Additional living expenses: This coverage covers you for any additional bills that you may incur while your home is being repaired or damaged. Renters insurance policies can also cover moving costs if your building is uninhabitable.
You should understand the coverage of your policy before you buy it. You may be limited to certain items, such as expensive electronics, fine jewelry, and art. You could be considered underinsured if you don’t choose to add coverage.
Keep in mind, however, that renters insurance does not usually cover belongings that are damaged by an earthquake or flood. If a bookhelf is damaged by an earthquake and falls on your laptop, you will likely have to pay for the repair. California residents might be eligible for separate earthquake insurance to avoid this.
Questions frequently asked
California renters insurance: Is it mandatory?
California law does not require renters insurance. Your landlord might require proof of your liability coverage before you sign your lease and move in. To satisfy your landlord’s requirements, you will likely need renters insurance as you can’t purchase liability coverage on its own.
What is the best renters insurance in California for the price?
Renters insurance costs will vary depending on many factors. These include your zip code, company choice, coverages needed and discounts available. Renters insurance in California costs $178 per annum, or $15 per monthly. Your specific rating factors will affect your premium.
How can I obtain renters insurance in California
Many insurance agencies provide online quotes, but you may also be able to call the company or speak with a local agent to get a quote. To get a quote, you will need to give your name, address, and date of birth. Although every company is unique, getting renters insurance quotes is usually easy.
How can I save money when I renters’ insurance?
Renters insurance is generally less expensive than homeowners Insurance but there are still ways to lower your premium. You can save money by taking advantage of any discounts that you are eligible for. You might consider buying auto insurance with the same company that your renters insurance. Multi-policy discounts can often be one of the best discounts. Your premium will be lower if your deductible is increased. This is the amount that you pay out of your pocket in case you have to file a claim. Be sure to select a amount you can afford to cover a claim.