For reasons similar to insuring a home we own, it is in the best interests of a tenant to purchase renters insurance. Renters insurance is a frequently overlooked plan that guards tenants against property damage or loss caused by fire, severe weather, theft and other catastrophic events.

In a recent study by financial news media, it was estimated that two-thirds of the rental population in America is uninsured for property. Those with the ability to purchase rental insurance are leaving their property and general well-being at risk when a basic insurance plan is so easily accessible and costs only a few dollars per month.

Rental insurance is available from most insurance companies and can be activated on your first visit. Rates are usually determined by factors such as the amount at which your property is valued, the type of building or house you live in, its location and the security measures in place to guard against disasters or theft. Renters with property of a higher value such as jewelry, electronics, antiques or firearms will be charged at a higher rate or require payment of a rider for added levels of coverage.

An insurance plan covers many things a renter may not expect. Cheap rental insurance often insures against injury or property damage sustained by a visitor, property stolen in a public place and identity theft. Renters forced out of their home permanently or temporarily after a catastrophic event may be helped by the insurer in finding another place to live.

Cheap insurance for renters is easy to obtain and essential for every renter of an apartment or house. Finding the best-priced insurance plans can be very simple. Insurance company web sites allow visitors to answer basic questions and generate a price quote. Another option is to visit insurance offices in your area and ask for basic information on opening a policy.

An insurance office should be readily equipped to answer these questions and provide you with all of the necessary paperwork to open a plan. The paperwork includes an application form and brochures that clearly outline the policy’s costs, requirements and benefits. Any insurance policy should be offered in full detail and all salespersons should readily give clarification.

Renters insurance in California is inexpensive and can save tenants a great deal of heartache. By all measures, it’s one of the best investments that a renter can make