In today’s post, we discuss California renters insurance laws. Keep reading to learn more about what the law says and discover how this type of insurance can help protect your and your family’s possessions.
California Renters Insurance Laws: What You Need to Know
Let’s begin by answering one of the most common questions about renters insurance in the Golden State: Is renters insurance required in California?
The short answer is no, California law doesn’t require tenants to have renters insurance. However, things are a bit more complex in real life.
Landlords in California can require you to have renters insurance as a condition for signing the leasing agreement.
The reason is that having renters insurance in place limits the potential for disputes should an incident happen.
This way, you get protection for your stuff, which is important because your landlord’s insurance covers only the structure of the building, not your possessions.
The good news is that renters insurance tends to be affordable, so you can get some extra peace of mind without straining your budget.
A standard renters insurance policy in California usually offers four types of protection:
- Coverage C: Personal property
- Coverage D: Loss of use, equivalent to 20% of coverage C
- Coverage E: Personal liability, generally subject to a minimum of $100,000
- Coverage F: Medical payments to others, generally subject to a minimum of $1,000
California Renters Insurance Laws: Your Rights
California law also outlines the rights you have when you purchase renters insurance. Here are some useful facts:
- After a residential policy (a category which also includes renters insurance) has been in place for 60 days, the insurance company can only cancel a policy for reasons specified by law (nonpayment or premium, fraud, material misrepresentation, or any changes to the property that increase its hazard level).
- The company is required to mail or deliver a notice of cancellation at your last known address at least 20 days prior to the effective date of cancellation, and 10 days for nonpayment or fraud.
- If a company decides no to renew your policy, a notice of nonrenewal must be forwarded to you at least 45 days before the expiration date of your coverage. If the company fails to do this, your existing policy will remain in effect with no changes from the date the notice is sent.
- Cancellation and nonrenewal notices must include the reason for the cancellation or nonrenewal.
- The insurance company has 60 days from the policy’s effective date to verify the rating and underwriting of a new policy. After 60 days, no notice of change of premiums is allowed.
Delgado’s Insurance: Affordable Renters Insurance in California
If you need insurance in the Golden State, look no further than Delgado’s Insurance.
We have locations in Riverside, California, and Bloomington, California. Get in touch today by telephone (951-361-0084, 909-421-9003), email (mail@delgadosinsurance.com), or through our social media accounts (Facebook, Twitter)!
