If you're renting an apartment anywhere in California, renter’s insurance can help protect your possessions if they are damaged or stolen. In some cases, your landlord may require that you carry your renter’s insurance as a condition of your lease. The renter’s insurance policy provides the following coverages:
- Personal Property: Renter’s insurance helps cover the cost to repair or replace your belongings, such as clothing, furniture, and electronics, up to the limits in the policy. Certain personal belongings may be excluded from standard policy, if they are above a certain value, such as jewelry, artwork, collectibles, and specialized computer or hobby equipment. You will have the option to add coverage for items that exceed standard coverage limits. There are two different types of personal property coverage: actual cash value and replacement cost coverage. Actual cash value coverage compensates you for what your items are worth in used condition. Your insurance premiums will be lower, but if your items (clothes, beds, or electronic equipment) are stolen or destroyed, you will be compensated with used clothes and bedding, as well as old and depreciated electronic equipment. However, with a replacement cost policy, you will be paying higher premiums, but in return, you will be compensated with the replacement of all your old possessions, with new ones.
- Personal Liability: This policy provides coverage against certain costs, whenever you are found legally responsible for any injuries sustained to other people, or if there is damage to their property in your rented home. For example: if you invite a friend and he slips and falls down the stairs breaking an arm, your renter’s insurance will cover their medical costs and legal costs (if they decide to sue).
- Additional Living Expenses: If your rented home is damaged due to fire, hail, or other disasters and its inhabitable, renter’s insurance will cover for the costs you will incur, as a result of having to seek alternative accommodation, cost of food, cost of transport, and other expenses that arise as a result of damages to your home.
Discounts: Bundling auto and home always qualifies you for a discount. You can also lower the premium by installing devices, such as burglar alarms and additional fire alarms.
Please setup an appointment or call us at 209-400-9785 to review your policy or insurance need with us. You can also get a free quote by filling up the following form: