Your California renters insurance will cover personal property, loss of use, liability, and medical protection, but you’ll want to add earthquake insurance.

Written by Talullah Blanco

Reviewed by Melanie Reiff

Updated on Jun 28, 2024

Table of Contents

What is renters insurance?
Is renters insurance required in California?
How to find cheap renters and car insurance

California renters insurance costs between $177 and $273 on average per year to cover personal property, loss of use, liability, and medical protection if anyone is injured in your rental home.

California is home to some of the greatest cities in which you can live. Whether you signed a lease on a studio apartment in Silverlake, Los Angeles, or a historic victorian in Haight-Ashbury, San Francisco, you’ll want renters insurance to protect your personal belongings from damage in case of an accident or natural disaster.

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What is renters insurance?

A renters insurance policy is meant to protect you and your belongings, and it can cover temporary living arrangements after a covered loss by providing financial assistance.

The standard renters’ insurance policy coverage includes:

Personal property (Coverage C): This covers the cost of replacement or actual cash value of your personal belongings if they’re damaged or lost by a covered peril.

Loss of use (Coverage D): If your rental home becomes unlivable due to covered perils, this part of your insurance can help you pay for temporary living expenses. Think basic expenses like hotel rooms, takeout food, and laundry.

Liability protection (Coverage E): This coverage pays for any legal fees if someone is injured or their property is damaged in your home.

Medical protection (Coverage F): If someone is injured on your rental property and requires medical attention, this part of your insurance will cover the cost of medical expenses.

The coverage amount you need will depend on the worth of your belongings and if your landlord has set personal liability coverage requirements.

What does renters insurance cover?

Renters insurance only covers the perils detailed in the policy. These vary depending on where you live, but your base renters insurance policy in California will include these perils:

Fire or lightning

Windstorm or hail

Smoke

Explosion

Falling objects

Volcanic eruption

Weight of ice, snow, or sleet

Freezing

Vandalism

Theft

Riots

Aircraft

Vehicles

Accidental discharge or overflow of water steam

Sudden and accidental tearing, cracking, burning, or bulging

Carefully read your policy to understand what is and is not covered by your renters’ insurance policy. There may be perils not included in your policy that you’ll want to add, like earthquakes. Most Californians live within 30 miles of an active fault line and should have earthquake insurance.

What does renters insurance not cover?

While plenty is covered by your renters’ insurance policy, it doesn’t protect everything in your home. The typical renters insurance does not cover:

Work-related items: If you operate a business out of your home or store your work equipment there, your business-related items won’t be covered if they are stolen or damaged.

Valuables: You will need to purchase additional protection for your engagement ring or vintage comic book collection. Basic renters insurance does not cover expensive jewelry or collectibles.

Pests: Any visible damage caused by pests will not be covered by your renters insurance. If a rat or cockroach scurries across your kitchen floor, you’ll have to pay for an exterminator, too.

Is renters insurance required in California?

The state of California does not legally require renters insurance, but your landlord might require you to purchase it as a condition of your lease. If your landlord doesn’t require renters insurance, it’s worth purchasing for financial peace of mind in the event of a disaster.

Depending on where you live, renters in California can expect to pay between $14 and $22 per month for a policy that could cover thousands of dollars worth of damage.

How to build a California renters insurance policy

Building and customizing your renters’ insurance policy to your lifestyle and where you live is easy.

Take inventory. Start by taking an inventory of everything you own in your home. While going through each room in your home and assessing your belongings it’s a good idea to photograph or digitally document the following information:

Quantity

Purchase date

Purchase price

Brand number

Serial number

Set coverage and personal liability limits. Your coverage limits should be reflective of the actual cash value of your belongings. Liability limits will likely be set by your landlord at $300,000 to $500,000.

Add earthquake insurance. While earthquake insurance is not required as a renter, it’s the only way to protect yourself financially from earthquake damage costs. California is home to over 500 active fault lines, and California renters should purchase earthquake insurance.

Key Takeaway: Choose a coverage limit based on the value of your personal belongings.

Actual cash value vs. replacement cost

When you purchase renters insurance you’ll have to choose between a policy that provides actual cash value (ACV) or replacement cost coverage.

A policy that provides actual cash value protection will cover the current value of your belongings at the time of loss. This type of coverage accounts for marketplace depreciation so you’ll only receive $100 for the $1500 laptop you bought ten years ago.

If you choose to purchase a policy that covers replacement costs, you can claim your belongings for the full amount you originally paid for them.

How to find cheap renters and car insurance

The best way to save money on renters insurance is to bundle it with your auto insurance policy. Most companies will offer discounts between 5% and 25% on both policies. If you aren’t receiving affordable quotes from your current carrier, you’ll want to shop around to find cheap renters and

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