Renters Insurance Rates to Rise 10% for 135K+ California Renters

More than 135,000 California renters with insurance through CSAA Insurance Exchange will see their rates climb 10%, after the California Department of Insurance (CDOI) approved the rate hike requested by the insurer.

The increase, retroactive to July 1, will boost average premiums by $179 to $209 per year, according to CSAA’s filing with the CDOI. But many policyholders will see annual increases of less than $10. Some will see no increase at all.

Approximately 117,000 policyholders face an average annual premium increase of $12. Another roughly 7,250 could see their premiums rise by $21 annually.

Additional changes to CSAA renters policies

Besides approving the rate increase, the CDOI also gave the OK for CSAA to implement a number of changes to its renters policies, including:

• Excluding from coverage additional “vicious” dog breeds and dogs with a history of biting

• No longer covering personal property of a policyholder’s roommate

• Excluding coverage for cryptographic assets like cryptocurrencies

• No longer covering criminal liability and sexual assault liability

• Excluding certain classes of e-bikes from coverage and sublimiting other classes of e-bikes

• Excluding coverage for losses from solar disturbances and from constant or repeated seepage

What’s next?

The policy changes, including the rate increase, take effect July 1, 2025, and will apply to all policy renewals and new policies issued on or after that date.

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