What does my Renter’s Insurance Cover?
According to Insurance Journal, many people who rent homes, condos and apartments have a fear of fire damaging their property and possessions; yet still don’t carry the proper California renters insurance protection. Statistics show that only 45% of renters here in the United States have renter’s insurance.
A California renters insurance policy protects the personal possessions and collectables (including jewelry that is accounted for) inside the dwelling that is rented. The owners of the property usually only carry California insurance coverage on the building structure not including the possessions inside.
The average renter owns about $20-30,000 worth of household furnishings. Renter’s insurance is very important because if fire, smoke damage, vandalism, water damage or thefts happen you’re covered up to the amount specified on your policy once the deductable is paid. Without a renters policy, the possessions and expensive equipment you may own has no coverage. Most likely the landlord of the property has each tenant sign a contract stating that they are not responsible for any items inside the rental property.
Remember to be cautious about obtaining the proper coverage. A diamond engagement ring would cost $1,000s to replace…so why not get it covered just to be safe. For any further questions about California renters insurance, contact Remland Insurance Services today at 714) 532-3314 and speak with one of our agents about getting coverage!