Renters in North Carolina need to maintain a renters insurance policy to protect their personal property. This insurance also provides other forms of protection that can prove very beneficial. Take a look at why this insurance is important and the other features it can offer.
The building owner’s insurance does not cover you
Whether you rent an apartment or a home, the owner’s insurance covers damages to the building. Your personal property is not covered. If a fire destroyed your apartment, your possessions would not be covered.
Benefits of rental insurance
When you purchase your own policy, your possessions are covered under the policy for any events included in the policy. Most policies also include theft protection. Because you are not paying for insurance to repair or replace the building itself, this insurance is normally very inexpensive.
Rental policies are also available with liability protection. Depending on the coverage you choose, you can be protected from a variety of liability issues. If a guest in your home is injured, you can add insurance to protect yourself from claims. You can also purchase liability protection to cover any damages you may cause to your rental unit.
Many policies also provide relocation protection in the event that your unit is so badly damaged that you cannot remain in it. While all policies differ, coverage may include moving expenses and temporary living expenses while you find a new residence. Remember to check your policy to see what events are covered and what financial limits are in place.
JC Demo Insurance Group is your independent agency in North Carolina. You can use our site to compare insurance quotes online at your convenience. You can also contact us to get answers to your questions about your renters insurance policy. Talk to an independent insurance agent today.