Property Insurance in California

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Property insurance in California pays to repair or replace buildings and belongings damaged by covered events such as fire, theft and some weather. Homeowners, renters and landlords insure homes and contents, while businesses insure buildings, equipment and inventory. Earthquake and flood are typically excluded and need separate coverage.

Updated October 5, 2026

What does property insurance cover?

Property insurance covers physical damage to the buildings and belongings you insure, caused by the events your policy lists, such as fire, theft, vandalism and certain storms. Depending on the policy, it may also cover temporary living costs or lost income while repairs are made, subject to limits, deductibles and exclusions.

The details are in the policy, so read the covered causes of loss and the exclusions carefully.

What is the difference between home and commercial property insurance?

Home property insurance protects a residence and personal belongings, while commercial property insurance protects a business’s building, equipment, inventory and sometimes lost income. The forms, valuation methods and exclusions differ, which is why a home policy generally does not cover business property and a business policy does not cover a personal home.

Landlords need a policy written for rental use rather than a standard homeowners form.

What is usually excluded from property insurance?

Standard policies commonly exclude earthquake, flood, ordinary wear and tear, neglect and certain kinds of water damage. These risks often need separate coverage or endorsements, and special limits can apply to items such as jewelry. Asking about exclusions before you buy is the best way to avoid surprises at claim time.

In California, earthquake coverage is worth discussing with your broker.

Property coverage for homes, rentals and businesses

Homeowner Insurance

Protect your house, your belongings and your family’s finances with coverage compared across carriers by an independent broker.

Renter Insurance

Protect your belongings and your finances in a rental, with coverage compared across carriers by an independent broker.

Earthquake Insurance

Protect your home and belongings from shaking damage that standard policies leave out, with options compared by an independent broker.

High Net Program

Protect your homes, collections and lifestyle with private client coverage compared across carriers by an independent broker.

Commercial Package Insurance

Cut the paperwork. Close the gaps. A single, smart policy that bundles core coverages into one straightforward solution.

Retail Insurance

Protect your store, inventory, and reputation with retail insurance coverage that keeps your business moving.

Real Estate

Protect your buildings, rental income and liability with coverage compared across carriers by an independent broker.

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With 40+ years of combined experience, our team knows how to simplify coverage and find the right fit for you.

Key takeaways

Property insurance covers physical damage from the events a policy lists.
Home and commercial property policies are written differently.
Earthquake and flood are typically excluded and need separate coverage.
Replacement cost and rebuild cost matter more than market value.
An independent broker compares carriers for homes, rentals and businesses.

Frequently asked questions

Is replacement cost the same as market value?

No. Replacement cost is what it costs to repair or rebuild with similar materials, while market value includes land and what buyers will pay. Property coverage should follow rebuild cost.

Do I need property insurance if I rent?

Yes, for your belongings. A landlord insures the building, but a renters policy protects your own property and liability and may be required by your lease.

Does property insurance cover income lost after a fire?

Only if the policy includes business interruption or loss of rental income. Standard property coverage alone usually pays for the physical damage, not the lost income.

Do I need special insurance for a rental property I own?

Yes, absolutely. Your standard homeowners policy is not designed for a rental property and will likely deny a claim if the home is being used as a business.

You need a dedicated Landlord Insurance (or Dwelling Fire) policy. This is crucial because it protects you where a standard policy fails.

Property Damage: Covers the building itself from perils like fire, hail, or vandalism.

Liability Protection: If a tenant or guest is injured on the property and sues you, this is your primary defense.

Loss of Rental Income: If a covered event (like a fire) makes the property uninhabitable, this reimburses you for the lost rent during repairs.

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This page is general information, not a policy or legal advice. Coverage, exclusions and eligibility vary by carrier, policy and property, so confirm the specifics for your property with a licensed agent before you buy.

California Corporate Insurance License #0I5358. Ontario, CA 91764. Content last updated October 5, 2026.