California Renters Insurance (2024)

FAQs

What is the cost of renters insurance in California? ›

The average cost of renters insurance in California is around $12.21 per month, based on data from Quadrant Information Services. However, the actual amount you pay may differ due to your personal risk factors.

While renters insurance is not required by law in California, some landlords may require it for you to live in their building. It's generally a good idea to have at least some form of coverage as your landlord's insurance is not liable for any damage to your personal property.

Over the last year, several large insurance companies, such as GEICO, Allstate, and most surprisingly, Liberty Mutual have pulled out of California's auto insurance market.

While the state doesn't mandate landlord insurance, it's highly advisable to protect your interests and investments. Landlord insurance offers financial protection and peace of mind, helping you navigate potential risks and unexpected situations.

A lower credit score may lead to a higher renters insurance premium because it's associated with a higher risk of claims. Conversely, a higher credit score can help reduce your premium by demonstrating lower risk.

We're glad you asked! Lemonade's renters insurance is available in 28 states plus Washington, D.C., and we're still growing. Check out the availability of our renters insurance and other products.

Unlike some other states, California landlords are allowed to require tenants to obtain and maintain renters insurance while they are under the terms of the lease.

Without a renters policy in place, damage or injury from a gathering gone wrong could be your responsibility. Renters insurance can help protect a landlord against tenant negligence. Tenant negligence can take many forms, ranging from a kitchen fire while cooking to water damage from an overflowing tub.

The Bottom Line. Progressive can be an easy, affordable way to get renters insurance, especially if you also need car insurance. With discounts for bundling auto insurance and other coverages, including renters insurance, Progressive is our top pick for bundling.

The Chronicle reports that insurance industry magazines linked Geico's decision to close California sales offices to its failure to raise insurance prices in compliance with Sacramento regulations and other market forces.

Who is cheaper, GEICO or Progressive? ›

Key Takeaways: Geico is best for you if you're simply looking for the cheapest option, as the provider has a cheaper average rate estimate in 82% of states across the U.S. Progressive is best for you if you're looking for more coverage options, add-ons and customizations.

Since the beginning of 2023, several major insurance companies have announced that they would stop writing policies or drastically reducing offerings in two of the three most populous states in the U.S. Industry heavyweights such as Geico, Progressive, and Farmers have started leaving the California and Florida auto ...

How much is renters insurance in California? The average cost of renters insurance in California is $182 a year, or approximately $15 a month. That's 23% higher than the national average of $148 a year.

While renters insurance isn't required in California by state or federal law, it might be required by your landlord or by the building manager if you're moving into an apartment complex.

The average cost of landlord insurance in California is $1,728 per year. Obie, Travelers, and Safeco all offer landlord insurance in California.

Typical Cost of Landlord Insurance in California

Average costs for California landlord insurance range from $896 to $1,728 a year. Where a landlord can expect to fall within this spectrum depends on the value of their property, which insurance company they choose, and what level of coverage they enroll in.

By Megan Fan Munce and Harsha Devulapalli | Updated June 12, 2024 4:32 p.m. In California, homeowners may pay anywhere from under $1,000 to more than $10,000 per year to insure their homes — and it may depend in large part on where they live, state data analyzed by the Chronicle shows.

How much does health insurance cost in California? The average cost of health insurance in California is $600 per month in 2024. That's for a 40-year-old with a Silver plan. Bronze plans usually have cheaper rates, but they also have less coverage.