If you are a California renter, then you need to read this article. Typically, the owner of the building is responsible for any loss to the building. The building owner is not responsible for your personal belongings. Insurance for the renter exists to protect the belongings of people who do not own the dwellings in which they reside. Your security deposit is intended to cover any damage to the building– not to your personal property.
Renter’s insurance is a homeowner’s policy for non-homeowners. It covers loss of your personal property, such as clothes, furniture, computers etc. It covers losses due to theft, fire, wind and many other events that might cause damage to your personal property. A renter’s policy can also provide coverage for your temporary living expenses while repairs are being made if your rented home is damaged.
Renter’s coverage can also provide liability coverage, should you cause injury to a third party. In some cases landlords require such coverage. Do you have a dog or other pet? If so, renters insurance will provide protection in the event the animal causes injury to your neighbors or visitors.
A renter’s policy can go a long way toward protecting you financially if you suffer misfortune. Best of all, you don’t have to own your home to qualify for protection. Renter’s insurance is very affordable, and can be designed to meet your individual needs.