Renters Insurance
Renters insurance is an essential consideration for tenants living in California. It can provide financial protection for your personal items in case of damage or theft and can also pay for additional living expenses if you need to move out due to an insured incident such as a fire.
What Is Renters Insurance?
Renters insurance is designed for tenants renting an apartment or house. While landlords typically have insurance to cover their building’s physical structure, renters insurance protects your personal belongings and provides liability coverage within your rented space. It can act as a safety net, offering financial protection in case of unexpected disasters, theft or accidents within your rented premises.
What Does Renters Insurance Cover?
Typically, renters insurance policies encompass three main areas:
- Personal property coverage—This can protect your belongings, including furniture, electronics and clothing, against perils named within your policy, which may include theft or vandalism.
- Liability coverage—If someone is injured within your rented home or if you accidentally cause damage to someone else’s property, renters insurance can provide liability coverage, helping to cover legal fees, medical bills and potential settlements.
- Additional living expenses (ALE) —If your rental unit becomes unsuitable for living due to a covered peril, ALE coverage can assist with temporary living expenses such as hotel bills or rental payments elsewhere.
Do I Need Renters Insurance?
Even if renters insurance is not mandatory in California, many landlords may require tenants to have it as part of the lease agreement. Check with insurance providers to get quotes and find the right policy for your situation.
Learn More
Contact Destiny Insurance for a customized renters insurance quote.