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Renters' insurance, often called tenants' insurance, is an insurance policy that provides some of the benefits of homeowners' insurance, but does not include coverage for the dwelling, or structure, with the exception of small alterations that a tenant makes to the structure.
For example, if you have a $500 deductible and you filed a claim for damage from a fire, you would pay $500 towards the repair and the insurance company would pay the remaining cost.
Renters insurance is getting harder to come by and more expensive in California as insurers pull back from the state's troubled homeowners market, which has been hard hit by wildfires.
This flood insurance is a separate policy that covers a building, its contents, or both. For renters, the program covers up to $100,000 in damage to the contents of a unit.
An 18th-century fire insurance contract. Property insurance can be traced to the Great Fire of London, which in 1666 devoured more than 13,000 houses.The devastating effects of the fire converted the development of insurance "from a matter of convenience into one of urgency, a change of opinion reflected in Sir Christopher Wren's inclusion of a site for 'the Insurance Office' in his new plan ...
The Prudential Insurance headquarters are prominent buildings within the Four Corners Historic District. The American Insurance Company was incorporated February 20, 1846, and commenced business on April 1, 1846. [8] The company maintained offices downtown on Broad Street and later Park Place. [9] A new home office was completed in 1930.
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California does have an insurance program under the Fair Access to Insurance Requirements Plan, established in the 1960s, which provides fire insurance coverage for high-risk properties.
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