California Renters Insurance

Find Affordable Renters Insurance in California

Housing in California is notoriously expensive, so it is little wonder that close to half of this state’s residents favor renting over buying. If you are among the more than 5 million renters in the Golden State, you may want to consider covering your personal property with a suitable renters insurance policy. Whether you lease an apartment in downtown Los Angeles, an off-campus house in Santa Barbara or an ocean-side villa in Newport, you can benefit from the protection a policy can provide. Renters insurance quotes in California are remarkably inexpensive, so these policies are well worth the cost.

California Renters Statistics, 2010

  • Number of CA homes (all types) that are renter-occupied: 5,546,676
  • Percentage of California homes (all types) that are renter-occupied: 44.1%
  • Percentage of California residents who live in apartments: 17%
  • Average cost of renters insurance in CA in 2008: $224 per year

Renters Insurance Can Be Very Beneficial

Some landlords require their tenants to have renters insurance as one of the terms of their lease; but most do not. Because they typically do not have to have renters insurance, many renters choose to forego it.

Some feel that they cannot afford the additional cost of a renters insurance premium. However, most policies are very inexpensive. You can easily spend more going to see a movie than you would on your monthly insurance premium.

Some others feel that they don’t own anything worth insuring. However, consider what you might face if you lost all of your personal belonging in a fire or other major disaster. Your landlord is not responsible for compensating you for your losses. It can be very expensive to replace lost clothing, furniture, cookware and electronics. With renters insurance, you will have the funds necessary to start fresh.

California Burglary Statistics

  • There were approximately 2.1 million burglaries reported in this state last year.
  • The state’s burglary rate equates to 6.46 burglaries per 1,000 homes.
  • By comparison, the national rate is 6.70 burglaries per 1,000 homes.

The overall crime rate in California is slightly lower than the national average, which can have a positive influence on your insurance rates.

Renters in cities like Oakland, Bakersfield and Fresno, where burglary rates are higher than in most other parts of the state, should expect to receive slightly higher rate quotes. On the other hand, renters in areas like Trona, Albion and Hidden Hills, where crime rates are extremely low, can expect lower rate quotes. The differences in rates, however, will not be substantial since the policies themselves are rather inexpensive.

Renter-occupied homes tend to experience burglaries more frequently than owner-occupied homes. It is therefore important that you take precautions such as keeping doors and windows locked and entryways well lighted. If you do have the misfortune to experience a burglary, you will need to call the police to file a report. You will need a copy of this police report when you submit a claim to your insurance company.

Average Monthly Rent in Major California Cities

  • Los Angeles: $1,135
  • San Diego: $1,277
  • San Jose: $1,385
  • San Francisco: $1,407
  • Fresno: $866
  • Long Beach: $1,064
  • Sacramento: $954
  • Oakland: $1,049
  • Bakersfield: $936
  • Anaheim: $1,324
  • Santa Ana: $1,198
  • Riverside: $1,046

Are Quotes for Renters Insurance High in California?

When you request renters insurance quotes from different companies, the affordability of the quotes might surprise you. Although the average renters insurance rate in California is higher than that of any other state, most people can get a policy for approximately $20 a month. That is not a lot to pay for the security afforded by having suitable coverage for your personal property.

Rates can vary from person to person. Insurance companies will base your rates on certain factors, including the following:

  • The amount of coverage you wish to purchase for your personal belongings
  • The amount of liability coverage you wish to purchase
  • The location of your rental home
  • Whether you own pets, and, if so, how many and what kinds
  • The amount of your deductible
  • Your credit score and claims history

You may even qualify for discounts that can make your rates even lower. Most insurance companies offer discounts for having multiple policies with the same provider, so, if you own a car, you might want to bundle your car insurance with your renters policy. You can also get discounts for making automatic monthly payments or for renewing a claims-free policy. Be sure to ask about possible discounts when you are requesting rates.

You Can Get Help Finding a Great Policy

If you are purchasing renters insurance for the first time, you probably have a lot of questions about how much coverage you need and how to find a great price. Independent insurance agents in the Trusted Choice® network are here to help. These agents can answer your insurance-related questions and can provide you with a selection of suitable policies for your review.

Contact one of the many Trusted Choice agents in California to learn more and to start comparing renters insurance quotes.

Now, who's ready to get their insurance problems solved?