But Sabourin insists that it's not impossible to get coverage for older homes. These details let insurance companies know the home is cared for and that the owner is more likely a good risk. Anyone who has lived in California knows both of these events happen frequently. Earthquake insurance is offered by several private insurers and the California Earthquake Authority, a quasi-public program. Flood insurance is only offered by the federal government through the National Flood Insurance Program.
Independent agents can sell both types of policies.
Just as landlords protect their investment with policies, renters should protect their possessions with policies, said Bob Smith, a State Farm Insurance agent. With a renters' policy, much like a homeowners policies, look for replacement cost coverage as opposed to an actual cash value policy, Smith said. A renter's policy can also pay for temporary living expenses if your house or apartment suddenly becomes uninhabitable. It's no fun planning for your own death. But your dependents will thank you for it.