Renters Insurance California

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In 2013, the average estimated cost of renters insurance in California was $135 a year. Compared to that the average homeowners insurance is $630 a year in California, thus renters insurance is cheaper than most people realize.

Comparing Renters and Owners Insurance in 2013 in California

The landlord's policy does not cover renter's damages like burglary. There were 245767 burglaries reported in California in 2012. So, to protect one from events like fire, burglary or other disasters renters insurance is required.

Renters Insurance Coverage Types:

Actual cash value policy:
The Actual cash value policy covers the depreciated value of loss. An example of this is – a $2080 Personal Computers might be worth only $1040 in six months and that is the amount the insurance pays for.

Replacement Coverage Policy in California:

Estimated Renters Insurance for Different House Types in California

House Type Median Rent Estimated Renters Insurance
Single Fam $1,800 $126
Duplex $1,460 $102
Studio $1,030 $72
Two Bed $1,650 $115
Three Bed $1,800 $126
Four Bed $2,000 $140
Many Bed $2,300 $161

Deductibles in California:

By opting for a $500 deductible over a $250 deductible, an average of $14.85 can be saved on the insurance premium.