Maybe people in Charlotte are there for graduate school and plan on leaving afterwards. Maybe some people live in Asheville and are saving money for a house. Maybe others live in Greensboro and don’t want the trouble that comes with owning a house. There are many reasons North Carolina residents choose renting over owning, and that’s good news for landlords everywhere. Think finding tenants is easier than finding North Carolina landlord insurance? Think again.
When you choose to work with a Trusted Choice® member agent, the insurance search becomes much easier. With access to 22,000 member agencies in over 27,000 locations, your member agent has the ability to tap into resources the average “captive” insurance agent couldn’t access. If you want reliable coverage at a price you can afford, contact a local member agent today.
As a landlord, you have a certain amount of responsibility when it comes to property upkeep and maintenance. This can mean caring the for the lawn, fixing a water heater, or replacing locks in addition to making sure rent is paid and tenants abide by the rental agreement. While it seems like you spend a lot of your time getting things right, it’s worth the effort to spend a few moments thinking about what could go wrong. This will help you set the right liability coverage limits. Without the right protection, you could be held liable for an incident and have no way to protect your personal assets. Consider these situations where you could be sued or held responsible:
We all get caught up in everyday life, but as a landlord, you’re held to a higher level of responsibility. Even if you follow safety protocol and always obey the rules, you could be taken to court. Spending months battling a wrongful lawsuit can eat into your personal savings if you don’t have North Carolina landlord insurance.
In addition to purchasing liability insurance, make sure you purchase property coverage as well. Landlords can own anything from condominiums to houses to entire apartment complexes, so setting the right coverage limit is dependent upon your personal situation. Always try to insure your unit at replacement value, which will cover the cost to rebuild. Other forms of coverage you might want to add to your portfolio include:
It can be hard to know just which insurance policies are right for you and which ones you really don’t need. When you work with an independent agent in the Trusted Choice network, you won’t pay for insurance that you don’t need. Your independent agent will work with you to determine your individual risk factors and find a policy that meets your needs and your budget. If you want access to competitive North Carolina landlord insurance quotes, contact an independent agent today.