Affordable renters insurance remains one of the least visible insurance policies. Many people are still unaware it even exists. And while most would guess it covers damage or theft of the contents in a rented home, there are other aspects of rental insurance that are worth knowing about.
Renters insurance is primarily designed to cover the cost of damage or loss of property in the event of theft, fire or water damage, vandalism, wind storm and/or other events, depending on the policy. Why do you need coverage if the property owner is insured? Because an owner’s insurance doesn’t cover your possessions, even after a disastrous event like a fire.
The other interesting element in rental insurance is that it can include a liability component that protects renters in the event that someone is accidentally injured in your home, either by yourself, a family member or a pet. So, if you were sued for such an injury and found liable, you could be financially protected within the conditions and limits of your policy, of course.
If you are interested in California renters insurance, you’ll be pleased to know that it’s not that expensive, particularly if your possessions are in the basic to average value range. And if you couldn’t afford to lose them all tomorrow, then you’re likely to see a policy as essential protection.