Barel has her own renters insurance, for which she pays $114 a year with a multi-policy discount, she said. Renters insuranceCalifornia does not require renters to have insurance, but some landlords require their tenants to have their own policies. Insurance effects on rents, housing supplyAn insurance broker, an affordable-housing operator and landlords who spoke with CalMatters painted a mixed picture about insurance availability and affordability as California continues to deal with a challenging insurance market. Since then, he said insurance rates have increased more modestly, to the point where he feels like it’s more of a “normal” insurance market. Uwe Karbenk, co-owner of a 33-unit apartment building in San Bernardino, said he’s not very optimistic about insurance costs.