Rental Basics in Los Angeles>Question Details

Bis2002, Home Buyer in Santa Monica, CA

Should I get renters insurance? Why?

Asked by Bis2002, Santa Monica, CA Thu Jul 12, 2012

Help the community by answering this question:


You should get it, because it is usually inexpensive and you could have a fire. You could get all your stuff stolen. Why would you not get a bit of insurance?
1 vote Thank Flag Link Thu Jul 12, 2012
What happens to the insurance once you move away from a place you are renting? In my case I am renting to own the house. I want to know if the insurance will convert to over the house still or if I need to get a new policy. I haven't ever experienced something like this before.

Zach |
Flag Wed Oct 8, 2014
Renter's insurance protects your personal property and most importantly your liability if some one is hurt or injured on your property. It is fairly inexpensive and definitely worth it. Many landlords will require you to have a certain minimum coverage.
0 votes Thank Flag Link Wed Oct 8, 2014
Yes. Lots of apartments even require it and you must show proof that you have it. It's very cheap, why not? Protects your stuff. You never know!
0 votes Thank Flag Link Thu Jul 31, 2014
Renters insurance is well worth getting especially if you own a laptop, camera or other expensive equipment. Certain policies also extend a certain amount of liability coverage as well which most people don't know. You are also covered on the insured items it they are stolen outside your dwelling.
0 votes Thank Flag Link Thu Jul 31, 2014
Yes - Renter's Insurance is very inexpensive and is easy to get started especially if you already have some form of insurance such as auto insurance. More and more rental property owners and managers are adding Renter's Insurance into their lease agreements as a requirement. It also shows that you take your role seriously as a responsible tenant.
0 votes Thank Flag Link Wed Jul 30, 2014
Renters insurance is a very good idea for both the landlord and the tenant, based on practical experience.

Hope this helps,

Irina Karan
Beachfront Realty, Inc.
0 votes Thank Flag Link Wed Oct 30, 2013
While we deal primarily in home sales, we recommend our renters and to our landlords, that they encourage their tenants to obtain renters insurance as it can extend beyond items in your condominium per se, they also can extend to car break ins in apartment garages with specified parking.
0 votes Thank Flag Link Tue Oct 29, 2013
You should always get renters insurance. You never know what could happen where you live and if something gets damaged or stolen you will be covered. It is always a good idea to have it.
Web Reference:
0 votes Thank Flag Link Tue Oct 29, 2013
Its doesn't hurt to get it and usually costs only about $15-$25/per month on average. Alot of it depends on what contents you actually have in their and how expensive they are.

Aziz Hasnain
Westwood Realty
Real Estate Broker
0 votes Thank Flag Link Mon Mar 11, 2013
I think it is a good idea to insure anything you own that you value.

Of course you will need to make sure the cost/benefit ratio is worth it.

You should contact your auto insurance carrier, they may give you a better rate if you combine your policies.

Best of Luck To You!!!
Kawain Payne, Realtor
0 votes Thank Flag Link Mon Mar 11, 2013
Yes, I always recommend Renter's Insurance. You want to your personal property to be covered. In addition, most Renter's Insurance also covers liability in regards to injury. Below are a couple links to articles that will explain it a bit more.……


Yeprem P. Davoodian
0 votes Thank Flag Link Wed Oct 24, 2012
Yes, It is always a good idea to insure your personal valuable items.

Kawain Payne, Realtor
0 votes Thank Flag Link Thu Oct 18, 2012
Definitely, it is worthy to get renters insurance. The landlord's insurance cover the building but not your personal property. Get a quotation is not that expensive and it can be a life saver.

Best of Luck,

Maria Cipollone

http://www.Century 21 Tenace
0 votes Thank Flag Link Thu Oct 18, 2012
Yes you certainly should! Many of my tenants learn that after it is too late.

Click the link to read a great article, "Why Get Renters Insurance? We will Tell You".

"While some renters may assume that they are covered by some mythical insurance umbrella held by the landlord, others simply do not associate the need for insurance with their own circumstances until it is too late. They aren't homeowners so they don't need homeowners insurance, right? They do not think beyond that question and many probably don't even know that tenants' insurance exists.

If you rent, look around. You probably have a pretty substantial amount invested within those walls you do not own. A stereo, high-def TV, a business and a leisure wardrobe, all of those small appliances in the kitchen, the electronics in the study; even if your furniture was bought second hand or from WalMart it all adds up and should disaster strike, everything will have to be replaced out of pocket.

And there is the matter of liability. Should your television repairman trip on the front walk he will probably sue your landlord. But if the repairman takes a swan dive over a poorly positioned coffee table inside your apartment or if sweet little Fluffy decides that his ankle looks like lunch it will not be your landlord's problem. It will be yours.

Tenant's insurance covers personal property within a home or apartment against the same types of loss covered by homeowners insurance - fire, theft, vandalism, and water damage (but not flood damage and probably not earthquake damage either) as well as protecting your interests should someone have an accident within your dwelling unit for which you might be held liable."

click the link for the whole article by Glenn Setzer
0 votes Thank Flag Link Mon Jul 16, 2012
Hi Bis...

Renters insurance is a great thing to have if your renting. Most policies will cover your personal belongings where ever they your rental dwelling, car and need to check the policy to see what is covered.

They are about $20 per month, which is nothing to protect your belongings.

What do you have to loose?

Good luck!

All the best,

Kat Becker, Realtor
Prudential California Realty
Estates, Residential, Commercial
0 votes Thank Flag Link Sat Jul 14, 2012
Absolutely! In case of a fire or some other kind of problem, your landlords' insurance more than likely only covers damage to the building itself and not to the contents, in other words, your belongings. Renters' insurance will cover YOU in these instances. It's a good idea to have it.
0 votes Thank Flag Link Fri Jul 13, 2012
Not really. You should seriously consider getting one to cover your personal items at minimum. You should consult your insurance agent.
0 votes Thank Flag Link Thu Jul 12, 2012
I would have to agree with you Sonya, I think whether it be auto insurance or homeowners insurance, You want to have something that covers you in case of an accident. The last thing you want is to have to cover everything yourself and pay in full. I would much rather have insurance than lose a ton of money for a little accident.

Zach |
Flag Wed Oct 15, 2014
I'm renting a single family home - does that change anything?
0 votes Thank Flag Link Thu Jul 12, 2012
The owners homeowners insurance covers the building but not your belongings. So if you have anything of value (media equip, computers, jewelry, appliances, rugs, furniture, artwork, ) that could be damaged you should consider insuring it. It is based on the value of the contents but generally is about $100-$200 per year.
0 votes Thank Flag Link Thu Jul 12, 2012
YES! Besides its very inexpensive and worth it. Some landlords even will insist that you do.
0 votes Thank Flag Link Thu Jul 12, 2012
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