Thanks for taking a few moments to review our Sacramento, CA Renters Insurance Guide. Less than 40% of American renters have renters insurance, and that number is even lower when you look at California Renters Insurance. In line with our core values, Effective Coverage is working to bring that number up to 40% and beyond of American renters insured with the provider of their choice.
Come in, look around, stay a while. Part of what we do is providing great resources to renters on how they can be insured, how much coverage they need, and what the best policy for their needs is. We’ve got a video series that answers many of those questions on our blog. If you have questions, you can always talk to a friendly insurance expert for renters.
Sacramento, CA Renters Insurance
Can My Landlord Require Renters Insurance In Sacramento?
Your landlord can dictate the number of people who may occupy an apartment, to whom he is willing to rent, quiet hours that must be maintained, and a host of other things. You’re bound to them by the contract you signed, more commonly known as your lease. Never forget that a lease is nothing more than a binding contract between you and your landlord.
It logically follows that your landlord can require renters insurance in Sacramento. As a matter of fact, most landlords do. Tenants commonly are laboring under the misapprehension that their landlord is responsible for their personal property, and requiring residents to maintain insurance on the contents of their apartment is a great way to avoid problems resulting from that misunderstanding.
Just as importantly, since property values are high in Sacramento, the cost of repairs can be significant. Remember that in many cases, the landlord is allowing you to live in his life savings. If you negligently damage the premises, Sacramento renters insurance liability coverage can help with those damages and make sure that the negligence of a tenant doesn’t cost a landlord everything.
How Does Sacramento Renters Insurance Protect Me Against Subrogation?
First, we have to understand what subrogation is on a renters insurance policy. In a nutshell, it’s the act of an insurance company taking action to recoup their losses related to a claim from the party responsible for the claim. Subrogation is common, because it makes sense that the responsible party pays for the damages. The person who suffered the loss can even get their deductible back in some cases.
Envision yourself in an apartment in a converted rowhome in Sacramento. Your neighbor starts a fire because they couldn’t put their phone down long enough to pay attention to the bacon they’re cooking. Their apartment is gutted and yours is uninhabitable as a result. The landlord now has a half million dollar investment that’s not bringing in any money.
The landlord will make an insurance claim, and his policy covers fire so they pay the claim. But he’s out of a ten thousand dollar deductible. He could sue the negligent party for it, but more likely is for him to assign his right to recover to the insurance company. They’ll pursue the responsible neighbor for the entirety of their claim, including the deductible. If they’re successful in recovering that money, they’ll reimburse the owner of the property for his deductible.
That money can come from one of two places, either out of the negligent party’s pocket or from their Sacramento renters insurance liability coverage. Knowing what property values look like in Sacramento, it’s far better for an insurance company to pay for the loss. That’s why renters insurance liability is so important. Without it, those losses are on you to pay for and the judgment could follow you around for the rest of your life. Sacramento renters insurance prevents you from having to personally pay for the building you’re responsible for burning down.
Don’t forget that renters insurance in Sacramento also covers personal property and gives you additional protections, as well! Your personal property is protected subject to the conditions of your policy, against perils like fire, theft, vandalism, and malicious mischief. That means that a covered loss wouldn’t require you to pay out of pocket to replace the things you own.
How Much Does Renters Insurance Cost In Sacramento?
Sacramento renters insurance is no more expensive than anywhere else in California. That is to say, it’s between fifteen and twenty dollars monthly, on average. What’s a decent cup of coffee going for in Sacramento these days, ten bucks? The good news is, a renters insurance policy in Sacramento is about the price of two cups of coffee a month. Blame Janet Yellen for the price of the coffee, and be glad that renters insurance really hasn’t increased significantly in a very long time.
You can’t go out on a date with your wife or girlfriend for fifteen or twenty dollars. The funny thing is, some people complain about the price of California Renters Insurance, but they can’t really do anything else with that fifteen dollars a month. Rest assured, people worry far less about the price of Sacramento renters insurance after they have a loss, they’re just glad to have the coverage!
Does My Credit Affect The Price Of Renters Insurance In California?
While credit based insurance scores can have a major impact on the price of renters insurance in most other states (Illinois Renters Insurance is notorious for this, as a matter of fact,) your credit has no impact whatsoever on the price of renters insurance in Sacramento. This is because credit can’t be used as a rating or underwriting factor on renters insurance in California.
The net result of a credit-less rating system is that everyone pays a smidge more, about a dollar a month on average, but no one over pays for any one policy. That actually makes for a more fair system for everyone, and any difference in the pricing is not something you’ll notice. Ten dollars a year is a fair estimation of the difference in premium because credit isn’t used in rating or underwriting CA renters insurance. That’s not even enough money to buy a movie ticket for one, much less the requisite overpriced popcorn.
How Can I Get Sacramento Renters Insurance?
The easiest way to get renters insurance in Sacramento is to work with a renters insurance expert. Any agency will sell you a policy, but is that where they focus? Effective Coverage is focused on meeting the insurance needs of renters. One call or click and five minutes of your time can get your coverage up and running!
Renting In Sacramento, CA
The Sacramento Lifestyle
Sacramento has grown in population by nearly 17% since the turn of the century, with a total population of roughly a half million people. The average price of a home across all types of housing units is just over a quarter million dollars. That’s not terrible, relative to California as a whole, and it means that there’s turnover in the rental market because people are able to move from renting to buying a home. The median gross rent is only $970 a month, which is far lower than many other parts of California, and indeed lower than the overall statewide average.
As the capital of California and the county seat of Sacramento County, the city has a great deal to offer. It’s the sixth largest city in CA, and is the economic powerhouse of a seven county area. Harvard’s Civil Rights Project called Sacramento “America’s Most Diverse City.”
With a Mediterranean climate, mild winters, and dry summers, Sacramento attracts many people who come for the weather and stay for the city. It’s worth noting that Sacramento has a high population of LGBT residents. As a result, the city tends to be very open and accepting of all kinds of people, which makes it a great place to live. All you have to do is take just a moment to call (800)892-4308 or click to get covered - whether you need Sacramento renters insurance quotes online or coverage anywhere else!
Effective Coverage offers the nation's only completely mobile platform to quote and purchase renters insurance right from your phone or tablet in just one minute. Get an online renters insurance quote today and protect your family.