How much renter insurance is needed is a commonly asked question by every tenant in California. Well, you must know that the amount of rental insurance depends on different factors. You can consult the best and cheap renters insurance California provider and ask them for help. Some of the factors on which the amount of coverage depends are mentioned as under:
- The area of the city you live in
- How much you can afford to pay
- Cost of your personal belongings
Every tenant has to evaluate their inventory or belongings before contacting the best renters insurance CA provider. The amount of rental insurance that one finalizes depends on multiple circumstances. For instance, most landlords in CA ask tenants to get this kind of insurance as a basic requirement before they move in.
What is renters insurance California?
First, you should know that renter insurance is the type of insurance that provides coverage for your personal belongings, liabilities, and living expenses in a rental house or flat. This rental insurance is considered to be very important and this is basically because of its benefits.
What are the typical Renters Insurance coverage amounts?
Renter insurance policy would always be split into three different categories. The coverage types include
- Personal property coverage
- Personal liability coverage
- Loss of use coverage
The common coverage amount for personal property coverage is around 30 grand whereas the personal liability coverage amount is around 100 grand. Loss of use coverage is usually the 40% of the total amount of personal property coverage you are getting.
The amount of coverage you get for personal property coverage can depend on the amount or worth of your belongings. These include your phone, electronics, bedding, clothing, furniture, and other petty things. In case of any loss or theft, you would get complete coverage for all of these belongings.
Personal liability coverage is almost fixed in every plan. This kind of rental insurance coverage is very important as it helps you save yourself from any liabilities and losses that occur in your apartment or house. If someone gets injured or worse dies in your rental house then the insurance plan would save you from any liabilities and legalities. The best renters insurance in California would always provide you with personal liability coverage.
How much is Renters Insurance California?
As we have told you before, it is not possible to give a fixed amount as the cost of rental insurance and this is because the renter insurance is dependent on many factors. But here you must know that the average cost of renter insurance that you have to pay in California would be around $15 per month. If you get the annual plans then they would cost you around 150 to 200 dollars a year. The best thing about getting this insurance is that it is very much affordable for all kinds of tenants and in return it provides thousands of dollars worth of coverage!