Renters Insurance – North & South Carolina
Serving Charlotte, Concord and Huntersville, Mint Hill Matthews, Fort Mill, SC, and the surrounding communities.
Renters and owners alike consider their home a home. Tenants should insure their personal possessions and have liability coverage in place to protect themselves against unexpected, costly out-of-pocket costs. Renters insurance covers the cost of replacing personal items such as clothing, furniture, and appliances in the event that they are damaged by fire, burglary, or vandalism. Renters insurance also covers any damage to the rented property that the tenant is responsible for. It also pays for medical bills if someone is injured at the house, and other expenses such as funds to stay in a hotel in case the rental property becomes uninhabitable.
Renters insurance is required for all types of leased property, including condos, apartments, single-family houses, condos, dorms, condos and other types. Tenants are required to have renters insurance to protect all those involved in the leased space. The structure of a property is usually insured by the owner. However, this policy does not cover personal risks or the contents of the renters.
- Contents coverage replaces personal property like furniture, clothing and electronics in the case of a covered loss.
- Loss-of-Use coverage covers expenses such as hotel and dining costs if you need to temporarily leave your rental home due to a damaged event.
- Personal liability coverage is included automatically in renters policies. It can pay for any at-fault damage the tenant causes to others on or off the rented premises. The policies may provide coverage for medical expenses, property repairs costs, and any other fees that a third party may incur due to the tenant’s negligence.
- Medical payments to others coverage is another component of renter’s liability coverage. It allows tenants to pay the medical bills for other tenants if they are injured at their rented home.
- Actual Cash Val and replacement cost insurance formulas determine how to handle claims if items are lost or damaged in covered situations.
To be prepared for any eventuality of total loss, it is important to have enough coverage to cover the entire value of all your possessions. It doesn’t matter how comfortable we live, the cost of replacing everything that we own can quickly add up. Talk to your agent about the best policy limits and coverage extensions for you to protect all of your possessions.
How often should I review my renters insurance coverage?
Even if you move down the hall, you must renew your renters insurance policy. You should also review your policy and discuss any changes with your agent. This will ensure that your coverage and item details are current.
It’s quick and simple, and it takes the guesswork out of purchasing insurance. We want to make sure you feel confident about the purchase and give you the security you need. Get a quote for a tenant policy from our agency today!
You may also consider additional coverage options
Renters insurance policies can be very flexible, allowing policyholders the ability to tailor expanded coverage for certain items and liabilities. Scheduled items endorsements can be added to protect high-value items. You may also want pet bite liability insurance that covers dogs that cause injury or property damage. Tenants should also consider water backup coverage and flood insurance if they don’t already have it. These should protect against water damage from appliances, heating, cooling, and plumbing system incidents.
