California Renters Insurance – Nationwide (2024)

FAQs

How much is renter insurance in California? ›

The Cost of Renters Insurance in California

According to data collected by Quadrant Information Services in 2023, renters insurance costs $187 per year or $15.58 per month on average in the state of California.

Renters insurance in California typically includes four main types of coverage: personal property, liability, additional living expenses (ALE), and loss of use. These coverage types protect against different risks and provide different levels of protection.

While renters insurance is not required by law in California, some landlords may require it for you to live in their building. It's generally a good idea to have at least some form of coverage as your landlord's insurance is not liable for any damage to your personal property.

Renters insurance is relatively inexpensive. According to NerdWallet, the average renters policy costs about $15 per month for up to $30,000 in personal property coverage. That's solid coverage for less than the cost of a few cups of coffee a week.

The U.S. state with the highest average monthly rent: Hawaii

Hawaii ranked as the state with the highest average rent, according to doxo. In a separate 2023 doxo report, Hawaii was also determined to be the most expensive U.S. state based on the average cost of household bills.

Renters insurance covers your personal possessions. If a fire or a storm damages your household goods, or if a burglar swipes your jewelry, TV, or bicycle, renters insurance helps compensate you for your loss.

The rule of subrogation known as the “Sutton Rule” states that a tenant and landlord are automatically considered “co-insureds” under a fire insurance policy as a matter of law and, therefore, the insurer of the landlord who pays for the fire damage caused by the negligence of a tenant may not sue the tenant in ...

Yes, you can get evicted for not having renters insurance if it is explicitly required in your lease agreement. Failing to obtain renters insurance when it's mandated can be viewed as a violation of the lease terms, potentially leading to eviction proceedings initiated by the landlord.

Which insurance companies are leaving California? ›

Tokio Marine and Trans Pacific join State Farm and Allstate in discontinuing coverage for California residents.

Requiring renters insurance in a lease benefits landlords by reducing their liability and preventing them from paying for damages. Renters insurance also takes care of relocation costs, helps landlords determine which tenant is reliable and makes it easier to accommodate tenants with pets.

Additional insured: List the landlord or property owner as additional insured to ensure that they are notified if the policy changes, is canceled, or lapses.

The Tenant Protection Act caps rent increases for most residential tenants in California. Landlords cannot raise rent more than 10% total or 5% plus the percentage change in the cost of living – whichever is lower – over a 12-month period.

Standard renters insurance policies typically won't offer coverage for bed bug infestations or any resulting damage. If an infestation occurs, you or your landlord are responsible for covering the extermination costs.

Insurers look closely at the property crime rate in your area, which affects your likelihood of filing a claim for stolen property. Your risk of natural disasters, such as tornadoes or hurricanes, also affects your cost of coverage.

The average cost of landlord insurance in California is around $1,728 per year.

In most cases, yes, your insurance premiums will increase after filing a renters claim. As it recalculates your premiums in the wake of a claim, your insurance company will generally consider the type, amount and frequency of claims. The more often you file claims, the riskier you are to insure.