North Carolina is known for many things. The Outer Banks, the Blue Ridge Parkway and ACC basketball all make NC a great place to live and play. Maybe you just moved to the state, or you’re a college student, or newly married and saving to buy your first house, or you simply like the flexibility of renting a home instead of owning one. Either way, an independent insurance agent can help you find the North Carolina renters insurance that fits your situation. Contact a local agent now for coverage options and free, no-obligation North Carolina insurance quotes.
NC Housing Facts
- Total housing units: 4,120,599
- Rental housing units: 1,318,591
- Rental housing as a percentage of housing units: 32%
Why You Need North Carolina Renters Insurance
Many renters question whether they should buy a renters insurance policy, while others incorrectly assume the landlord or rental agency has insurance that covers their personal belongings. The landlord's insurance normally protects the structure of your apartment building, condo or house and the landlord's possessions, like appliances. Anything you own in the unit is your responsibility to cover.
A North Carolina renters insurance policy protects you from having to replace all your possessions out of pocket after a theft, fire, or other covered loss. Plus, it can provide you liability coverage in the event that a visitor or other third party is injured or has property damaged in your rental home. If the liability is found to be due to your negligence or actions instead of the landlord's negligence, you can be held responsible for paying the claim or defending yourself in court. The liability portion of your North Carolina renters insurance can cover these costs.
Do You Have to Carry North Carolina Renters Insurance?
North Carolina state law does not require you, as a renter, to insure your personal belongings or liability risks, but some leasing companies or apartments do. Especially when you are in a multi-unit structure and the damage you cause is likely to affect other units, this coverage can be crucial. For example, what happens if you accidentally start a fire or allow an unwatched bathtub to overflow? This damage can significantly impact other units in the complex, and you can be liable for repair costs in some scenarios. Even if you're not required to carry North Carolina renters insurance, the affordable cost makes it an attractive way to shield your possessions and assets from risk.
How to Determine the Value of Your Possessions
The coverage limit for your renters insurance policy is based on the personal possessions you own and want to protect. The best way to determine this is to make a detailed list of all your personal property, including computers, furniture, appliances, jewelry, collectibles, electronics, firearms or sporting equipment, and even clothes and shoes. You can choose how you want to insure your possessions with a renters policy.
You can get reimbursed for the actual value of the items or the replacement value. A replacement value policy may cost a little more than the actual value policy, but it makes sense if you have older or priceless items that will cost more if replaced at current market prices. An agent can help you figure out which option is most appropriate for you. Your member agent can also help you compare several North Carolina renters insurance quotes to find the right policy for you.
Compare North Carolina Renters Insurance Quotes Today
While it's true that you cannot always replace or value items like keepsakes and photos, you still need to insure the belongings you can replace. If a burglary or destructive event like a fire takes place, you will be glad you had renters insurance. No matter if you have tens of thousands of dollars' worth of personal belongings or only a few thousand dollars in possessions, North Carolina renters insurance can help you get back on your feet, fast.
Contact an agent now. Your local agent can compare multiple insurance policies and costs and help you select the North Carolina renters insurance that is right for you.