4 Common Myths about Renters Insurance in California
Renters insurance is widely available, but California renters often feel that they don’t need it. The reasons for this feeling vary, but this belief is often misguided. Let’s take a look at some of the most common renters insurance myths and the reasons they usually aren’t true.
1. My landlord’s insurance will cover me
Not likely. Your landlord’s responsibility ends at the actual structure of the building itself, plus components such as HVAC and plumbing. It won’t protect your personal property unless the damage is your landlord’s fault (like a burst water pipe). If burglars hit your place or there’s a fire, replacing your property is your own responsibility. Having good tenant insurance is a great way to ensure that you won’t have to dig into your own pockets to replace your possessions if disaster strikes.
2. My belongings aren’t worth insuring
If you live in a rented home or apartment in California, renters insurance might feel like an unnecessary expense. You might think that you don’t own enough “stuff” that is worth insuring. But have you actually looked at what replacing your belongings might cost? Here are a few things to consider:
- Have you calculated the value of all the things you own? How much does your laptop and printer cost? That nice winter coat you just bought? Your surf gear?
- Do you have a clear idea of how much you’ve spent on your stuff over time? There’s a good chance it’s tens of thousands of dollars.
- Would you really have enough cash to replace all of it?
Renters insurance coverage makes it easier on your wallet if you ever need to replace it all.
3. Renters insurance costs too much
Renters insurance in California actually works out to less than $1 per day. Your morning trip to the coffee shop costs a lot more. Considering how cheap renters insurance can be, it really just makes sense to have this coverage.
4. It only covers my own stuff
While California renters insurance does cover your personal property, it comes with some attractive additional coverage that goes a long way to giving you peace of mind. What if your guest slips and falls on your stairs? They might sue you.
But you’ll be OK, because your renters insurance coverage includes a liability component. It will also pay for temporary housing, plus meals, while your own space is being renovated after a catastrophic event, like a fire.
Get Affordable Renters Insurance in California Today
Renters insurance is a sure-fire way to protect your belongings and rent investment without draining your bank account. There really is no reason why you should forgo it, it’s not worth it!