NORTH CAROLINA RENTERS INSURANCE
North Carolina renters insurance is insurance that should be carried by all residents who live in a rented home. Renters coverage protects you against loss or damage to property as a result of theft, fire, or other hazard at your house or apartment. It gives North Carolina policy holders protection against liability stemming from injuries sustained by visitors to their condo or townhouse, including medical and legal fees resulting from such injuries. North Carolina renters insurance is an important type of coverage to have because it takes care of things not covered by a landlord's policy.
A majority of renters nationwide do not carry renters insurance in spite of its benefits. There is a notion among renters that such protection is not affordable. Some also mistakenly believe that their condominium landlord will be responsible for replacing their lost possessions in the event of theft or fire.
The truth is that landlord's policy on a rental home or student loft is limited to the physical structure itself, not the possessions of tenants therein. The landlord of a building is also responsible for injuries that occur in common grounds on the property, such as a swimming pool in an apartment complex, but not inside family units.
The Two Parts of North Carolina Renters Insurance
Insurance policies covering North Carolina tenants in rented dwellings have two components. The first part of a policy is called general coverage. It handles loss to a policy holder's personal possessions arising from theft or damage. The second part of a policy is its liability coverage. Just like its name suggests, this part covers a policy holder's financial loss resulting from injury to a (non-resident) visitor occurring in their rented home. Liability coverage can include coverage for medical costs, plus any legal costs that may arise should the policy holder face a lawsuit stemming from the injury.
North Carolina renters insurance can safeguard you financial harm should property loss or a liability situation occur. For a small premium, you can keep safe from significant financial harm that could befall you. A North Carolina renters insurance policy is a great value for any young adult or senior citizen in North Carolina wishing to protect their possessions. Such a policy can also include temporary relocation if you are unable to remain at your home.
Limits of North Carolina Renters Insurance
Many people wonder what renters insurance covers. North Carolina insurance policies for rental tenants do not include coverage for hurricane or flood damage. In certain areas of the state along the coast there is always a possibility of having to deal with flood issues from time to time. Flood insurance for renters is available; contact your local agency for more information on policies and rates.
North Carolina renters insurance does not contain coverage for damage caused by insects or rodents, nor does it cover intentional damage. Specific additional coverage for valuable such as jewelry or artwork can be purchased; this kind of coverage obviously will have a significant impact on the policy premium but may be well worth investing in for peace of mind.
Factors Affecting North Carolina Renters Insurance Rates
Every North Carolina renters insurance policy premium is calculated based on a specific set of factors. Each provider applies those factors in a slightly different way, so there is a good chance you may see a wide range of prices when you solicit estimates from different companies. This fact gives you all the more reason to make sure you get multiple quotes when you go shopping for coverage.
One factor which is very influential in determining your annual policy premium is the claims rate for the area in which you live. If your dwelling is in a high crime/high claim area, you will pay more for your coverage than you will in a low crime area. Rural dwellings in North Carolina tend to cost less to insure than urban areas. The claims rate at a particular address also has a substantial effect on policy cost. A comprehensive loss underwriting exchange (CLUE) report is a summary of any insurance claims and the loss history of a property. It can only be ordered by the owner of a residence , but you can ask your landlord about it if you are concerned about your North Carolina renters insurance rates.
Just as it is with your auto coverage, your credit rating carries a lot of weight when it comes to the price you will pay for North Carolina renters insurance. One reason for this is the fact that good credit is accomplished by paying bills on time and keeping up with financial obligations. Just being seen as someone who pays their bills makes you less of a risk to insure. Beyond this, insurance companies have found that policy holders with higher credit scores are less likely to file claims, so they are able to offer lower prices to this group of customers than to the general population. This just gives you one more financial incentive among many to make sure you continuously attend to your monthly financial responsibilities and maintain your credit profile.
Money-Saving Tips on Coverage for North Carolina Renters
Although average premium rates for North Carolina renters insurance are low, in this day and age it is crucial to save every dollar you possibly can. To get the best possible price on your North Carolina renters coverage, there are a few basic tips you should keep in mind:
1. You can keep your prices low by electing to go with higher deductibles. Doing so will increase your out-of-pocket cost should a claim situation arise, but you will still have the catastrophic coverage you need.
2. You can save money on your policy by capitalizing on discounts for customer loyalty, multi-policy incentives, and rewards for clean claim history. Make sure to look into these discounts when applying for coverage.
3. If you have roommates where you live, you may be able to get discounted coverage for both of you. Many North Carolina renters insurance providers offer discounted coverage for multiple policy holders in one rental dwelling.
With a good credit score and a solid claims history, chances are you will be able to find a North Carolina renters insurance policy at a very reasonable price. If, on the other hand, your credit is somewhat less than pristine or you have had to file multiple claims on renters insurance in the past, do not lose heart. The average cost of a policy in North Carolina is only around twelve dollars a month , so even if your rates are higher than average they are probably still within your budget.
In North Carolia, you can easily find affordable renters insurance policies. North Carolina renters insurance coverage is an excellent value and is well worth buying for renters in Chapel Hill, Charlotte, and in towns all across the state. Find the North Carolina insurance policy that's right for you by using this site. Just enter your zip code in the box at the top of this page, follow the prompts and you are ready to begin. You can get thousands of dollars worth of protection for just pennies a day, a small price to pay for protection against the unknown.
So what are you waiting for? Compare cost and coverage details from the North Carolina cities of: Charlotte, Gastonia, Concord, Raleigh, Cary, Greensboro, High Point, Durham, Winston, Salem, Asheville, Fayetteville, Wilmington, Burlington, Goldsboro, Greenville, Hickory, Jacksonville, Lenoir, Lexington, Lumberton, Mooresville, Morganton, New Bern, Rocky Mount, Salisbury, Statesville, Thomasville, Albemarle, Boone, Brevard, Dunn, Elizabeth City, Forest City, Henderson, Kill Devil Hills, Kinston, Laurinburg, Lincolnton, Morehead City, Mount Airy, North Wilkesboro, Roanoke Rapids, Rockingham, Sanford, Shelby, Southern Pines, Washington, Wilson and more...
 http://realestate.about.com/od/ac/g/defcluerpt.htm Retrieved 2009-10-27.
 http://www.insure.com/articles/homeinsurance/average-home-premiums.html Retrieved 2009-10-26.
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