When renting a property, you may think you are covered by your landlord’s insurance, but their insurance policy does not include your personal property. There are plenty of tragedies of people who have lost everything because they did not have renter’s insurance in California.
Renter’s insurance will cover your personal property in a designated amount that you and the insurance agents at Los Gatos Insurance Services will decide on. Renter’s insurance will cover your electronics, clothes, furniture, sports equipment, and appliances, and limited coverage for jewelry and collectibles. Even if you are away from your home, your renter's insurance will still cover your items. This covers you if something is stolen from your car, or if your bike is stolen from work. If you are unable to live at your residence due to damage, you will be covered for some living expenses. Not only do policies include living expenses, but it will also cover accommodations for alternate, temporary living locations.
Renter’s insurance will also cover your personal liability if someone becomes injured at your residence. This coverage will pay for medical bills for that person and a defense for you.
If you have high-value items at your residence, you should purchase additional coverage. Items that require additional coverage include jewelry, artwork, antiques, and collectibles. In California, renter’s insurance will not cover earthquakes. There is additional coverage for this type of natural disaster. There are coverage options to include the replacement value, instead of the depreciated value, of your current items. If you have a lot of valuable things, this coverage is an excellent choice in the event you have to pay to replace them. If you work from home in your rented residence, your policy will not have coverage for your business equipment. You will need to add additional coverage to cover your equipment and any additional liability.
Contact an agent at Los Gatos Insurance Services to discuss coverage for renter’s insurance. We can walk you through the insurance process and help you get a quote. Reach out to our California offices.