Understating the Importance of Renters Insurance

If you reside in any rented accommodation, such as condos, apartments, or houses in North Carolina, remember that your landlord’s insurance doesn’t cover your personal property losses or damages. It also does not offer liability protection in times of loss. Thus, Jim Boyce Insurance highly recommends renters insurance for individuals residing in Matthews, NC, and surrounding areas.

Identifying Who Does Renters Insurance Protect

Renters insurance is strictly for the policyholder and the renter and doesn’t extend to the landlord or their property. Whether needed by their landlord or not, all renters should have insurance. However, it’s worth noting that even if required, the policy will not cover the landlord or their properties. The purpose of renters’ insurance is to cover the renter’s damages or loss.

What Does Renters Insurance Cover

Renters insurance policies might vary, but generally, they cover policyholders for events such as:

• Theft/burglary
• Vandalism
• Falling objects
• Explosions, riots/civil disruptions
• Aircraft, motor vehicles
• Smoke damage
• Fire, lightning strikes
• Windstorms, hailstorms, earthquakes
• Weight of ice, snow, and sleet
• Burst pipes
• Electrical and water/steam malfunction damage

Understanding Personal Liability

Beyond damage and losses of the policyholder’s possessions, many renters insurance policies encompass personal liability coverage. These may include bodily injury for the policyholder, and others present when the loss occurred.

Why Renters Insurance Is Essential

Regardless of your landlord’s stance on renters insurance, it’s recommended for all renters. Consult with Jim Boyce Insurance in Matthews, NC, and surrounding areas to clarify policy coverage and protection.