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Benefits of Renter’s Insurance

Don’t have Renter’s Insurance? You Should.

When tenants move into a rental property many don’t consider getting a renter’s insurance policy. My personal property is covered by the owner, right? What’s the likelihood of needing it? Think twice.


After our community was affected by the Thomas Fire, California Oaks quickly learned that most of our tenants did not have a renter’s insurance policy and how important it is for our renters to understand the benefits of carrying one.


Why do you need a renter’s insurance policy?


It protects you and your belongings. The owner’s insurance policy does not cover your personal belongings. If your property is damaged due to a fire, flood or electrical damage your landlord cannot assist you with the replacement of your personal belongings. Consider how much it would cost to replace your furniture, clothes and electronics.


It gives you liability coverage. If a visitor is injured at your apartment, most renter’s insurance policies would pay the medical bills and will help with legal costs up to the policy’s limit.


It covers additional living expenses. If your apartment is damaged and you need to temporarily relocate because it is uninhabitable, a renter’s insurance policy can reimburse you for extra expenses such as hotel rooms and meals.


It covers property theft. Someone broke into your apartment or vehicle and stole your laptop? Your renter’s insurance policy will cover it.


It’s inexpensive. The average renter’s insurance policy is less than $200 per year. That’s cheap compared to the cost of replacing your apartment.



At California Oaks Property Management, renter’s insurance is optional at most of our properties. However, we encourage you to ask yourself whether you could afford to replace all of your possessions if they were damaged or destroyed. If your answer is no, get covered.



Posted by: caloaks on May 14, 2018
Posted in: Uncategorized