What Happens If You Don’t Have Renters Insurance?

Renting your home comes with a set of responsibilities and a need to account for possible risks. Renters insurance can offer valuable assistance in these matters. At Academy West Insurance, we can help tenants understand policy options and secure suitable coverage tailored to their unique circumstances.

Understanding the Risks of Going Without Renters Insurance

Without renters insurance, you may be exposed to significant financial risks, which could lead to extensive out-of-pocket losses. Specifically, consider the following issues you might face:

• Uncovered personal property—If your belongings are stolen or damaged due to a covered peril, such as fire or certain natural disasters, you would have to pay out of pocket to replace them. Renters insurance can help cover the cost of repairing or replacing furniture, electronics, clothing and small appliances.
• Costly liabilities—Accidents can happen at any time. If someone is injured while visiting your rental or you’re otherwise at fault for another party’s losses, you could be held responsible for their costs. Renters insurance typically includes liability protection, which can help cover these situations. Without it, you may be left to handle these expenses on your own.
• Out-of-pocket additional living expenses—If your rental becomes uninhabitable due to a covered event, such as a fire, renters insurance can help pay for temporary housing and related expenses. Without this coverage, you would need to find and pay for alternative accommodations yourself.
• Lease noncompliance and eviction—While renters insurance is not required by law, some California landlords mandate tenants to carry coverage as part of their lease agreement. Not having coverage could put you in violation of your lease, potentially leading to complications or being forced to vacate the premises.

Protect Yourself and Your Belongings

Our team at Academy West Insurance is here to help you find the right policy for your needs. If you have questions or want to explore renters insurance coverage options, contact us today.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.