California Renters Insurance (2024)

FAQs

Are you legally required to have renters insurance in California? ›

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.

Many renters don't purchase renter's insurance, either because they don't think it is necessary or believe they are covered under the landlord's policy. The cost of renter's insurance is relatively low.

Renters insurance covers personal property, personal liability, medical payments and additional living expenses or loss of use, up to the limits of your policy. Learn more about what renters insurance covers and the types of renters insurance coverages.

According to the Investopedia article mentioned above, most renters insurance policies cover personal items, living expenses, and liability insurance (typically from $100,000 to $300,000 in damages).

Without a renters policy in place, damage or injury from a gathering gone wrong could be your responsibility. Renters insurance can help protect a landlord against tenant negligence. Tenant negligence can take many forms, ranging from a kitchen fire while cooking to water damage from an overflowing tub.

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 coverage is almost always worth it. It is much more affordable than other policies, including home or auto insurance, and provides valuable financial protection. Even if you can save enough money to cover unexpected loss, renters insurance may be worthwhile.

Many renters feel that since they don't own the property the live in, there is no need for insurance. Surveys have revealed that over half of those who rent a house, apartment or condo have not bought renters insurance.

The cheapest renters insurance in California generally may reimburse you for your losses in situations like theft, household fires, and damage. If you're affected by any of these incidents, some renters insurance policies may provide financial relief in covering the cost of replacements or repairs.

What are the 4 parts of coverage for renters insurance? ›

Renters insurance covers you, your liability, and your belongings in the event of a covered loss. Renters insurance coverage is broken down into four coverage types: personal property coverage, personal liability, additional living expenses and medical payments insurance.

Renters insurance has three basic coverage components: personal possessions, liability, and additional living expenses.

Whether someone considers Lemonade renters insurance as good or not likely depends on their coverage needs. If you're a renter who does not have a significant amount of valuable personal property, Lemonade's affordable premiums and easy buying process can make it a good choice.

The average cost of renters insurance is about $15 to $20 per month¹. However, what you end up paying depends on a number of factors.

Renters insurance isn't required by law in any state, but landlords and property management companies may make renters insurance mandatory as part of your lease.

Your landlord shouldn't be listed on your renters insurance policy as an additional insured. Having an additional insured on your renters insurance means that you would be paying to cover them and their personal property too.

While there's no law requiring that you purchase renters insurance in San Diego, your landlord might specifically require it. And if your lease specifies that you need renters insurance, well… that's that.

Lemonade renters insurance covers property damage caused by accidental fires. You can also purchase a separate fire insurance policy. This would provide you with extra coverage above your standard coverage limit and would also include fires caused by an event that isn't covered in a standard policy, such as a flood.