Renters Insurance for North Carolina Residents

If you live in a rental property in the Greensboro, NC area or anywhere else in North Carolina, state law does not mandate that you purchase renters’ insurance. However, some landlords will require their tenants to carry renters’ insurance before signing or renewing a lease. Although the landlord's insurance policy will cover them if something happens to the structure of the building where you rent, their coverage usually does not extend to you or your personal belongings.

Areas of Coverage

An agent from the Community Management Insurance Group in Greensboro, NC can discuss different coverage options, premiums, and limitations. General coverage options available in North Carolina include:

Liability Coverage: Protects your assets if someone else experiences property damage or injury and they claim you are at fault.
Loss of Use Coverage: Provides assistance to cover food, rent, and other living expenses if the unit you occupy suffers damage during a covered event and you must relocate elsewhere.
Personal Property: Offers assistance to replace or repair your personal belongings where you rent in case they are destroyed, damaged, lost, or stolen.

Important Considerations

The cost of insurance varies based on different factors, such as:

Your deductible amount
Types and level of coverage you purchase
Where the rental property is located
Any discounts you may receive for having other policies with the same carrier

Renters' policies vary, but many will cover damage from most of these events:

Theft, vandalism, and other incidents that cause damage to your belongings
Fire, explosions, falling objects, and other catastrophic events
Weather events such as hail, lightning strikes, windstorms, or snow or ice cause damage

Certain hazards may not be covered by renters’ insurance. For example, flood damage requires a separate policy.