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Oakland Renters Insurance

Oakland renters insurance provides individuals who rent property in the Oakland, California, metropolitan region with the security they need to cover the potential loss of their possessions in the event of an unforeseen event. If you rent an apartment, house or condominium, you need to consider purchasing renters insurance. By following the useful advice provided in this article, you will be better qualified to choose the right Oakland renters insurance for your family and have confidence that if something untoward happens, you are protected against financial loss.

Oakland renters are a diverse group of people. You have college students seeking off campus residences, senior citizens looking for a happy retirement property, divorced men and women hoping for a convenient and pleasant place to call home, and an array of other folks who choose to rent in Oakland. For each type of renter, there is the right kind of Oakland renters insurance. You can quickly and easily find affordable renters insurance by getting a free renters insurance quote.

Searching for the Right Kind of Oakland Renters Insurance

If you think your landlord's California renters insurance will cover your losses in the event of damage, you are wrong. In fact, the only thing the landlord's policy covers is damage to the building's structure. It covers nothing else. So, if you have items that you would not be able to easily replace if something happened to them, you need Oakland renters insurance.

To select the right kind of Oakland renters insurance, you should know that there are two types of coverage: actual cash value (ACV) coverage and replacement cost coverage (RCC). Both coverage types are feasible, but they differ in some important respects.

ACV coverage in Oakland is perhaps the most popular of the two coverage types, but it is not necessarily the best. Many Oakland renters insurance buyers might choose ACV coverage because the premiums are lower.

But, the problem with this type of Oakland renters insurance is that it only pays the estimated value of the item(s) at the time of their loss/damage, minus a deduction for depreciation. So, in the end, the amount barely helps pay for the replacement of any of your possessions.

RCC coverage is the more expensive of the two types of Oakland renters insurance; however, RCC coverage provides you with more value for your dollar. In the event of loss or damage, this coverage type will provide you with the actual cost it takes to replace the item(s) without any deductions for depreciation.

Renters of property in the metropolitan area should take into account what they could lose in the event of fire, theft or other loss. Here are just some of the items that Oakland policies need to cover:

  • Electronics: televisions, DVD players, iPods, laptop computers, personal computers.
  • Jewelry, Heirlooms: diamonds, pearls, watches, gemstones.
  • Clothing: shoes, shirts, ties, coats, etc.
  • Home Furnishings: sofas, beds, antiques, lamps, dishes, appliances.

These are just a few of the many items that policy buyers need to insure so that if something unforeseen takes place, they can afford to replace these items.

The Importance of ‘Named Perils' in Oakland Renters Insurance Policies

If you currently rent a townhouse, loft or home in Oakland, you need to know what some of the catastrophes that can befall your property are and how they are handled by insurance companies.

In the renters business, policies are written to cover what are called ‘named perils.' These perils are events that can occur which lead to the loss or destruction of personal property. Some of the ‘named perils' that you will typically find in Oakland renters insurance policies are as follows:

  • Fire
  • Theft
  • Explosion
  • Falling object
  • Electrical surge
  • Civil uprising
  • Vandalism
  • Personal liability

These are the major categories of named perils that are typically found in Oakland renters insurance policies. However, since California is known for earthquakes and floods from time to time, and these events are not typically covered in Oakland renters insurance policies, you may want to purchase a rider to help protect your property against these kinds of disasters.

Oakland renters need to make sure that their policies include coverage for living expenses in the event that their dwellings become unlivable due to fire, explosion or some other catastrophic event.

Most Oakland renters policies provide for living expenses up to approximately 30 to 40 percent of the overall value of the policy for up to 12 months. This will provide you with a necessary net to fall back into if something should make your rental home unlivable. Having this type of renters coverage is absolutely imperative for your peace of mind.

Ways to Lower Your Premium on Your Oakland Renters Insurance

Many people wonder how much renters insurance costs and if they can afford it. It is typically quite inexpensive - about $10 - $20 a month. If you want to reduce your premium payments on Oakland renters insurance, you should install a few safety items. For instance, install a monitored burglar and fire alarm. This will make you feel safer and it will get you a discount from the insurance company. Another way to lower your insurance rate is to install deadbolt locks on all of the external doors. And, to further reduce your premium, insure your car with the same insurance company. These tips will help you save a bundle.

Additionally, you should consider the following ways to save on your renters policy:

  • Declare your house a non-smoking household,
  • Select EFT payments
  • Raise your deductible
  • Install a sprinkler system
  • Indicate your affiliation with certain groups (call the insurer to get a list of these)

In general, this type of insurance is not cost-prohibitive. In fact, in some instances, you can get coverage for as little as $20 per month. Bear in mind, however, that this might just be the bare minimum in terms of coverage. In any case, with the advent of the Internet, you can shop around and see what is out there before you drop a huge sum on Oakland renters insurance.

Take a careful look at the various tips and insider details provided in this article and use these tools to help you find exactly the insurance rental policy you need. The advent of the World Wide Web makes it possible for you to do your comparisons at home or in the office. But, do not forget to make those phone calls and see what kind of actual customer service they provide when you speak to someone "live."

What we see on a computer screen is one thing, but when we are talking about property loss, fire, catastrophe and uncertainty, we need to know that the company we are putting our trust in is worthy of it. A few phone calls should help clarify this.

If you make the calls and the people you speak with seem too busy to be bothered with your questions or too eager to make a sale without finding out the details about your situation, move to the next insurer and start anew. There are some great insurers out there. Take the time to find the one that you can trust and rely on when tough times come.

Request a comparison from leading California insurance providers today. Our service provides free renters insurance quotes throughout the Oakland, California areas of Berkeley, Fremont, Pleasanton, Livermore, Alameda, Albany, Castro Valley, Dublin, Emeryville, Hayward, Newark, Piedmont, San Leandro, San Lorenzo, Sunol, Union City and more...