If you rent your home, your landlord’s insurance policy doesn’t cover you or your belongings. That’s where renters insurance comes in: It protects your possessions if there’s a fire, theft or other covered event.
It can also provide coverage if you’re found liable for someone being hurt in your home.
Renters insurance is particularly important in California, where 44.5% of residents rent, the second largest percentage after New York state. While renters insurance is not legally required by the state or federal government, a growing number of landlords require tenants to get a policy.
The good news is that you can find plans for less than $20 per month.
CNBC Select reviewed more than two dozen insurance companies in California that offer renters policies and chose the best ones for price, coverage, convenience and more. (Read our methodology for more on how we made our selections.)
Best cheap renters insurance in California
Best for affordability: Nationwide
Nationwide Renters Insurance
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Availability
Nationwide offers renters insurance in all states except Alaska, Florida, Hawaii, Louisiana, Massachusetts, New Jersey, New Mexico and Oklahoma.
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Coverage limits
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Deductible
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Add-ons
Replacement cost coverage, personal injury, water backup, earthquakes, identity theft, high-value items, theft of items stored in vehicle
Pros
- Policies cover unauthorized credit card transactions
- Discount for bundling, smoke detectors, living in gated community
Cons
- Not available in every state
- Online quotes not available in every state
- Ranked below average for customer satisfaction on J.D. Power survey
Who’s this for? Nationwide offers some of the most affordable renters insurance premiums in California.
Standout benefits: A standard renter’s insurance policy doesn’t cover earthquake damage, but Nationwide offers the option to add this coverage to your plan.
[ More on Nationwide renters insurance ]
Best for electronics coverage: Amica
Amica Renters Essentials® Insurance
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Availability
Amica renters insurance is available nationwide except for Alaska and Hawaii.
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Coverage limits
Personal property: $100,000, personal liability: $300,000, medical payments: $5,000, loss of use: $30,000
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Deductible
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Add-ons
Replacement cost coverage, identity theft, electronics, high-end items
Pros
- Highly ranked for customer satisfaction on J.D. Power survey
- Bundling discount available
- Some renters policies are eligible for dividends
Cons
- Not available in Hawaii or Alaska
Who’s this for? Amica’s renter’s insurance allows you to add an electronics-specific rider that can cover things like accidental damage to laptops, tablets and phones that wouldn’t normally be covered.
Standout benefits: Amica offers replacement cost coverage, which reimburses you the full cost of getting a new item rather than the depreciated value after a loss. This can be especially useful for tech items, which depreciate rapidly.
[ More on Amica renters insurance ]
Best for buying online: Lemonade
Lemonade Renter’s Insurance
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Availability
Lemonade renters insurance is available in 28 states and Washington, D.C.
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Coverage limits
Personal property coverage: $250,000, personal liability: $500,000, medical payments: $500,000, loss of use: $200,000
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Deductible
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Add-ons
Extra coverage for jewelry and other valuables, no-deductible claims, coverage for accidental damage and mysterious loss
Pros
- Speedy claims processing
- Reimburses based on replacement cost value
- Highly ranked for customer satisfaction on J.D. Power survey
Cons
- Only available in about half of U.S. states
- High volume of complaints filed with NAIC
Who’s this for? Lemonade makes buying renters insurance online easy, with quotes available in minutes and policies available right from your phone. Lemonade claims its AI-powered system resolves 40% of claims instantly.
Standout benefits: Lemonade also offers extra coverage for expensive items like bicycles, cameras, jewelry and musical instruments.
[ More on Lemonade renters insurance ]
Best for educators: Horace Mann
Horace Mann Renters Insurance
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Availability
Horace Mann renters insurance is available in 40 U.S. states
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Coverage limits
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Deductible
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Add-ons
Replacement cost coverage, scheduled personal property, identity fraud services
Pros
- Can get a rate quote and apply online
- Policies are available to anyone, not just educators
- Discount for bundling with auto insurance
Cons
- Not available nationwide
- Some benefits only available to educators
Who’s this for? While Horace Mann issues policies to the general public, teachers get added benefits as part of the Educator Advantage package, including free key replacement and identity fraud advocacy services. In addition, you won’t pay a deductible on the first $1,000 of coverage if your personal property is stolen from a vehicle parked on or near school property or at a school-sponsored event.
Standout benefits: If you need to temporarily relocate while your home is being repaired, Horace Mann’s policies can cover lodging, food and other necessities. You can also save by bundling your renters policy with Horace Mann auto insurance, life insurance or annuities.
[ More on Horace Mann renters insurance ]
What is renters insurance?
But renters insurance can also help in other ways, too. Here are the three main things that renters insurance covers.
- Your belongings: Your furniture and any items in your home that you own would be covered by renters insurance.
- Your liability: If your pet bites someone or someone falls down your stairs and hurts themselves, you could be held liable for those damages. Renters insurance can cover legal fees and other damages in these situations.
- Additional living expenses: If your rented home isn’t liveable after an incident, this coverage can help you pay for another place to live while your home is being repaired or replaced.
How much is renters insurance in California?
The average renters insurance premium in California is about $177 per year, according to the Insurance Information Institute. That breaks down to $14.75 per month for coverage.
To lower your costs for renters insurance, shop around. Get several quotes for the same amount of coverage and the same deductible to see which one offers the best price. Many of our top picks for renters insurance in California offer quotes that are easily available online.
Another easy way to save is to bundle your car insurance or other insurance policies with your renters insurance. This can help you get a discount and make it easy to manage your policies since they’re all in one place.
Is renters insurance required in California?
There is no state or federal law mandating renters insurance. However, your landlord may require you to take out a policy as a condition of your lease.
What does renters insurance cover in California?
Renters insurance in California covers your personal property, your liability for damages to others and additional living expenses should you need to relocate while your home is repaired
Renters insurance protects you from covered events, like a fire or vandalism, but not from damage due to normal wear and tear or neglect. In addition, damage from flooding from outside your home and earthquakes is typically not covered by a renters insurance policy.
You’ll need to either add coverage to your policy or get a separate earthquake or flood insurance policy.
Many policies also limit coverage for electronics, precious metals, cash, collectibles and other valuables.
Renters insurance plans typically limit coverage for jewelry to $2,000, for example, but you can pay to increase coverage or get a standalone jewelry insurance policy.
More on the best renters insurance in California
Horace Mann
J.D. Power customer satisfaction ranking: Not rated
NAIC complaint index score: More complaints than expected
[ Return to summary ]
Nationwide
In business since 1925, Nationwide offers several add-ons to better help renters, from water backup to earthquake coverage.
J.D. Power customer satisfaction ranking: Below average
NAIC complaint index score: More complaints than expected
[ Return to summary ]
Amica
Lemonade
Renters insurance FAQs
Is renters insurance worth it?
Does Lemonade insurance cover California?
What is the best renters insurance company in California?
According to our analysis of renters insurance based on pricing and customer service, Lemonade, Amica and Nationwide are top choices for renters insurance in California.
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Our methodology
To determine the best cheap renters insurance in California, CNBC Select analyzed more than two dozen renters insurance companies that offer policies in the state.
Using the California Department of Insurance’s 2024 homeowners insurance rate tool, we examined rates for a renters insurance policy with $50,000 worth of coverage and a $500 deductible in San Diego County.
We prioritized companies with the most affordable rates and also considered coverage add-ons and discounts.
We compared customer satisfaction ratings from the renters insurance portion of J.D. Power’s 2024 U.S. Home Insurance Study and complaint trends from the National Association of Insurance Commissioners.
We also considered CNBC Select audience data when available, such as general demographics and engagement with our content and tools.
Our recommendations have been organized into the best for affordability, for electronics coverage, for buying online and for educators
Catch up on CNBC Select’s in-depth coverage of credit cards, banking and money, and follow us on TikTok, Facebook, Instagram and Twitter to stay up to date.
Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.
Alice J. Roden started working for Trending Insurance News at the end of 2021. Alice grew up in Salt Lake City, UT. A writer with a vast insurance industry background Alice has help with several of the biggest insurance companies. Before joining Trending Insurance News, Alice briefly worked as a freelance journalist for several radio stations. She covers home, renters and other property insurance stories.