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Lee Insurance Agency LLC

119 W South Railroad St, PO Box 1212
Four Oaks, NC 27524

Three Major Parts of a Renter’s Insurance Policy

One of the biggest misconceptions that renters face is they frequently believe that their landlord is financially responsible for their belongings if a theft, fire, or another mishap occurs. Your landlord will have insurance to protect the building where you live in North Carolina, but protecting your items is your responsibility. The agents at Lee Insurance Agency LLC will gladly help you understand why you need renter’s insurance.

Renter’s Insurance is Similar to Homeowner’s Insurance

The most significant difference between renter’s and homeowner’s insurance is the latter covers the physical building in which the policy owner lives. As a tenant, you don’t own the building, so you don’t need such coverage. Renter’s insurance to protect you against disasters and unexpected events has three primary sections:

  • Personal possessions
  • Liability
  • Additional living expenses

Coverage for personal possessions involves your clothes, furniture, and other personal belongings from theft, fire, smoke, water damage,  storms, lighting, and other mishaps as noted in your policy. Protection from floods and earthquakes is extra. Liability protects you from bodily injury that you or family members cause to other people, as well as property damage. It will also pay for damages your pet may cause to the property. Some people are surprised by additional living expenses coverage, but if your apartment or rental home suffers a fire or another disaster and you’re temporarily displaced, the policy will pay for your additional living costs.

How Much Renter’s Insurance Do I Need?

The most significant variable in your policy involves your possessions. Creating an inventory of your possessions can help you determine an appropriate level of coverage.

We Are Here To Help

Lee Insurance Agency LLC, serving North Carolina residents, will gladly help you determine appropriate renter insurance coverage levels for all three categories. Contact our office today to get started on your policy.

Why Do I Need Renters Insurance?

Renters insurance is not a legal mandate in the state of North Carolina, but it will often be a requirement imposed by your landlord. This is because their insurance does not cover you in a situation where the contents of your abode are destroyed or in need of repair.

Why Renters Insurance?

Renters insurance helps with disputes between property owners and their tenants because it provides a ready solution to disagreements. Renters can file a claim with their insurance company, thus reducing the amount of litigation between parties and accompanying legal fees. 

In the event that you need to temporarily relocate, renters insurance can help you with the necessary expenses. Environmental hazards, fire, and water damage can sometimes cause you to vacate the premises until your living quarters can be properly cleaned. 

Renters often have guests over, leading to liability issues when a person is injured due to slips and falls. You can be held negligent for their medical bills and lost wages, and you may also be the target of a lawsuit. Your knowledgeable Lee Insurance Agency LLC can go into further detail about which perils are included in your coverage. 

Your possessions can be destroyed, for example, if your building catches fire, and renters insurance should cover your belongings. They can also be affected by smoke or water damage from attempts to put out the blaze. Vandalism can do damage to your valuables, or they can also be subjected to theft. 

Lee Insurance Agency LLC Can Be of Assistance to You

We serve residents in the state of North Carolina and provide quality insurance products and services for every walk of life. We invite you to reach us online, by calling or visiting us in person to speak to us in more detail about your situation. 

How to determine the appropriate amount of renter’s insurance for your needs

North Carolina residents, including renters, can rely on the Lee Insurance Agency LLC team for all of their insurance needs. If you have questions about any type of insurance, we are here to offer our assistance. Stop by our office or give us a call and we’ll be happy to help!

What amount of renter’s insurance is right for you?

When it comes to knowing the right amount of renter’s insurance that’s sufficient to protect your belongings, you can feel pretty clueless. One of the first things to do is review the available policy levels. If you are a young person just starting out on your own, one of the basic policies that offer a reasonable amount of coverage should be enough for your needs.

For people who are more established, it can be more difficult to determine the proper amount for their needs. If you’ve built a fairly substantial amount of belongings through the years, you will need to do a rough inventory of your items. Focusing on more expensive items like artwork, electronics, jewelry, and furniture is a great way to start. 

There are several ways to value your possessions for insurance purposes. Your local agent can provide insight into which method best meets your needs. Using replacement value as your method of calculation is one of the more common ways to determine how much your things are worth. Make sure you have the protection you need!

Contact our team today!

Lee Insurance Agency LLC is proud to serve the state of North Carolina and help our clients with all of their insurance needs. If you would like some guidance when it comes to renter’s insurance, we have the information you need. Contact our office or stop by today!

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