Three Myths About Renters Insurance

A homeowners’ insurance policy does not cover tenants. As such, if you are renting a room, apartment, condo, townhome, or house, you need to purchase a renters’ insurance policy. Here at Community Management Insurance Group, serving the greater Greensboro, NC area, we have heard many myths about why renters insurance is not needed.

Here are three of those myths and the truth about each of those myths:

Myth 1: I Only Rent a Room. I Don’t Need Renters Insurance

One of the first myths surrounding renters insurance is that you do not need a policy if you are only renting a room. If you are renting a room or living with roommates in a rental property, you still need renters’ insurance. These types of policies are not solely for individuals renting out a whole home or apartment. They can only cover you and your belongings in a shared space.

Myth 2: Renters Insurance is Expensive

Another common myth about renters insurance is that renters’ insurance policies are expensive. The average cost of renters insurance is just $15 per month. This makes renters’ insurance affordable for renters in all types of financial situations.

Myth 3: Renters Insurance Only Covers My Belongings

The final myth pertaining to renters’ insurance is that it only covers your belongings. This is not true. Renters’ insurance can pay for your living expenses for a period of time if your rental becomes uninhabitable. It can also help to cover costs if you accidentally cause major damage to your unit, such as starting a fire or causing a flood in your rental home. 

We Are Here To Help

As a renter, you should always purchase renters’ insurance. If you are looking to purchase a new policy, Community Management Insurance Group, serving the Greensboro, NC area, would love the opportunity to assist you. Call us today and let us help you get the coverage you need.

Who needs an umbrella insurance policy?

Umbrella insurance policies cover you when your liability exceeds what your normal homeowner’s or car insurance covers. Community Management Insurance Group in Greensboro, NC is here to help you determine if an umbrella policy would be right for you.

How an umbrella policy works

To get an umbrella policy, you would already have to have home and auto insurance. This is a lot easier if both are with the same company. If you have a business, you will have to get a separate policy for the business. The policy kicks in when your liability exceeds the limits of your insurance policy. If your insurance maximum is $500,000 on your home, and you are held liable for $1 million, you will have to pay the other $500,000 yourself. An umbrella policy will pay for that.

Who needs an umbrella?

Often it is wealthy people with a lot to lose who have umbrella policies. Sometimes people will try harder to sue wealthy people.  Most don’t try too hard to sue poor people because even if you win, you will not get the money. Retirees should also consider an umbrella policy to protect their retirement savings, even if it is not in the millions.

A rule of thumb

What is wealthy is relative to many factors. Generally speaking, if your net worth exceeds your insurance limit, you need an umbrella. Adding up your assets, minus your debts, determines your net worth. If that comes to $500,000 for instance, and your liability limit is $300,000 you should get one. In general, young people who have not built up a lot of assets, or people whose net worth is less than their insurance limits, do not need such a policy. 

Give Us A Call

Community Management Insurance Group in Greensboro, NC is here to answer all your insurance questions and help you get the coverage you need.

Common Situations Covered By Flood Insurance

It’s not uncommon for individuals to suffer water damage during a flood only to learn that their home insurance policy doesn’t cover flood damage. With extreme weather events becoming more prevalent across the country, more and more homes are being affected by flood waters. Those living in areas historically considered moderate- to low-risk now make up more than 20% of claims that the Federal Emergency Management Agency (FEMA) handles each year.

As such, it’s crucial that you understand the full extent of the risks in the Greensboro, NC area and plan accordingly. One of the best ways to do this is to purchase a flood insurance policy.

What Flood Insurance Covers

In the most basic sense, flood insurance covers water damage to your home and belongings. Though some areas are more susceptible to flooding, a flood can technically happen anywhere there is an excess of water on land that is typically dry. Flood insurance covers damage to the structure of your home and the contents inside in situations where 

  • A body of water overflows its banks
  • Rain accumulates faster than it can drain
  • A hurricane produces a storm surge
  • Heavy rain causes a mudslide

It’s essential to keep in mind that while flood damage is not covered by most home insurance policies, some types of water damage are covered. This includes burst pipes and leaking appliances, both of which are typically not covered under flood insurance.

Ensure You’re Protected With Help From the Community Management Insurance Group

Residents of the Greensboro, NC area must be aware of their property’s flood risk. Luckily, the team at the Community Management Insurance Group has the information you need to find the right flood insurance policy for you. To learn more and receive a quote, contact us today.

What coverage does condo insurance provide?

Owning a condo is the right option for many people. It requires condo insurance in the same way that home insurance is a good idea for homeowners. At Community Management Insurance Group in Greensboro, NC, our team takes the time to get to know our customers so that we can better provide the help that they need when they are looking to insure their condos. 

Condo Insurance Coverage Options

Property coverage

The property coverage that is provided for a condo is different from what a house needs. With a condo, the Condo Association has insurance that protects the outside of the building. This includes the roof and exterior walls and porches. It also includes common areas. You are responsible for the interior structure of your condo, and things are a permanent part of it, like bathrooms and built-in appliances. 

Content coverage

Your personal possessions are covered with content insurance. You can decide how you want to cover it, you can have replacement coverage or current value. This is something to discuss with your insurance agent. For things like jewelry and art, you may need additional coverage since these do have limits on coverage. 

Liability coverage

Liability coverage protects you from someone being injured at your condo or by a member of your family. It will pay medical bills, and it will also help pay legal costs and a judgment against you. 

Loss of use

If your condo is damaged by a covered hazard, you won’t have a place to stay. If you have a loss of use coverage, it will pay for you to go to a hotel, to get meals out, and even a longer-term rental, depending on how long your condo is uninhabitable. 

Reach Out To Us

Contact Community Management Insurance Group in Greensboro, NC for all your auto insurance needs. We are happy to help!

Life Insurance FAQs

Life insurance is something that you do for the ones you love. It is your way of providing for them even after you have passed away. At Community Management Insurance Group, serving the greater Greensboro, NC region, we are independent insurance agents and our team is here to help you by answering your questions and finding the right life insurance for you. 

When is the best time to buy life insurance?

The most obvious answer is before you need it. Life insurance is less expensive when you are young and healthy, but you want to make sure that during the years when you will need it the most, you have the right amount of life insurance. If you are planning a family, after the birth of your first child is a good time to start. If your partner counts on your income, you may need to start earlier. 

Can my life insurance be canceled?

Yes, it can. The most common reason is the nonpayment of your premium. If you get into financial difficulties, don’t avoid talking to your carrier, they may be able to work with you. The other reason that the policy may be canceled is that you lied on the application. 

How much life insurance do I need?

You need enough to provide a safety net for your loved ones. The figure is different for every individual, so it is important to sit down with one of our agents to put the figures together. 

What is term life insurance?

Term life insurance is life insurance that lasts for a specific number of years. The most common is 20 years, and when it ends, there is no cash value. 

Contact Us Today

Give Community Management Insurance Group a call or stop by our office  in Greensboro, NC to learn more about life insurance. 

Safe driving tips

At Community Management Insurance Group, serving the greater Greensboro, NC region, we provide auto insurance. The road can be a dangerous place to navigate, but with the right safety tips, you can stay safe while driving.

Here are some tips that can help you stay safe on the road:

1. Always wear your seatbelt.

Wearing a seatbelt is one of the most important things you can do to stay safe while driving. It’s also the law in most states, so make sure that everyone in your car is wearing their seatbelt before departing. 

2. Don’t drive when you’re tired or distracted.

Driving when drowsy or distracted can be deadly, so make sure to take regular breaks if you’re tired and keep distractions like cell phones out of reach while driving. 

3. Obey traffic laws and speed limits.

Following traffic laws and speed limits can help reduce the risk of an accident, so always obey posted signs and don’t go over the speed limit even if other drivers are going faster than you are. 

4. Practice defensive driving techniques.

Defensive driving means being aware of your environment at all times and taking proactive measures to avoid potential risks ahead of time. This includes activities such as maintaining proper following distance, checking blind spots before changing lanes, scanning for hazards in advance, using turn signals properly, and more. 

Get Auto Insurance Today

By following these tips, you can greatly reduce your chances of getting into an accident while on the road! For more safe driving tips, but beginners and veterans alike, give us at Community Management Insurance Group a call today. We proudly serve the Greensboro, NC area. Stay safe out there!

Commercial Insurance FAQs

Commercial insurance is essential for protecting your business from financial liability or damage that may occur to your property. If you are in the greater Greensboro, NC community, contact our team of insurance experts at Community Management Insurance Group for your commercial insurance needs. 

What is Commercial Insurance? 

Commercial insurance is insurance coverage designed for businesses instead of individuals. There are different types of coverage to meet the needs of different businesses. 

What are the Types of Commercial Insurance? 

The most common types of insurance are property insurance, liability insurance, workers’ compensation insurance, and commercial auto insurance. In addition to these basic types of coverage, you can choose other types of coverage that further protect your business.

Who Needs Commercial Insurance? 

Generally, business owners, independent contractors, and freelancers should consider commercial insurance. Even if your business isn’t your full-time job, you may need this type of coverage. 

If you own property that’s used to conduct business, you need a commercial property policy. If you have expensive equipment for your business, it’s also wise to get a commercial policy. 

Commercial auto insurance is needed if you use a vehicle primarily for business purposes. This can include driving to job sites, hauling equipment for work, or carrying passengers as part of your job. 

If the vehicle is owned by the business instead of an individual or driven by employees, you will need a commercial auto policy. 

What is Covered Under Commercial Insurance? 

Coverage will vary based on your specific policy. Generally, your business property and any equipment are covered under property insurance. Liability from injuries to customers is covered under general liability insurance. Worker’s compensation insurance will cover any injuries to employees on the job. 

Give Us A Call

If you need commercial insurance, contact us at Community Management Insurance Group in Greensboro, NC. We offer commercial insurance options that can meet the needs of your business. 

4 Weird Things Covered by Home Insurance

Do you have home insurance? If you do, you may not realize just how comprehensive your coverage is. You probably think your insurance covers basics like fire damage, burglary, and natural disasters. However, most home insurance policies actually cover a lot more than that and can help you out in a variety of strange situations.

Here are four weird things that your home insurance policy may cover:


Sinkholes are a natural phenomenon that can cause severe damage to your home. They occur when the ground beneath your home collapses, causing your foundation to crack and crumble.

While sinkholes are not common, they can occur in any state. If you live in an area where sinkholes are known to occur, your home insurance policy may cover the resulting damage. Ensure you check your policy coverage carefully, as some home insurance companies exclude sinkholes from their policies.

Pet Damage

Did your dog accidentally break a window? Did your cat scratch up the furniture? If so, the resulting damage may be covered by your policy. Home insurance policies typically cover pet damage, as long as the animal was not intentionally trying to cause damage.

So, if your dog gets a little too excited and accidentally knocks over a lamp, you may be able to file a claim with your home insurance company.

Your Party Guests

It’s not just your home that’s covered by home insurance, but your guests too! If someone is injured while visiting your Greensboro, NC home, your policy will likely cover their medical expenses.

This protection extends to social gatherings as well. For example, if you have a holiday party and one of your guests slips on some ice and is injured, your policy could cover their medical bills.

Of course, there are limits to this coverage. So, it’s essential to check with your agent and be sure you understand what is and isn’t covered under your policy. Whether you’re covered by the Community Management Insurance Group or another provider, be sure to ask about this protection.

Falling Objects

Of course, you don’t expect things to fall from the sky and hit your home, but it does happen. High winds can cause tree branches to snap and fall on your home or garage. Hail storms can send golf ball-sized hail crashing through your windows. Additionally, some random things like meteors and satellites are also covered by some policies. This means that falling objects are one less thing you have to worry about.

Get Your Home Insurance Today!

There are all sorts of weird things that are covered by home insurance, and this is just a short list. If you’re looking for comprehensive protection for your home, be sure to get a policy that covers all the bases.

At Community Management Insurance Group, we can help you find the perfect Greensboro, NC home insurance policy for your needs. We’ll work with you to find comprehensive coverage at a price that fits your budget. Contact us today to learn more