For those in Burlington, North Carolina, having the right type of insurance is critical no matter if you own a home or if you are renting it. In many situations, individuals are not sure if they need to carry insurance if they are renting. However, before you decide against it, consider the following.
What the Owner Is Responsible For
In nearly all situations, a rental property needs to have insurance. The owner of the property needs to protect his or her investment. That includes the building and the land surrounding it. In most cases, the owner of the property will need to carry proper insurance to cover any losses associated with these items, such as fires or vandalism. Additionally, owners need to have liability protection to avoid any lawsuits related to falls or injuries on the property.
What Is the Renter Responsible For?
On the other hand, the renter also needs to have adequate insurance protection. In this case, the insurance needs to provide for the renter’s personal belongings. The rental owner does not have any responsibility towards your belongings. In fact, most insurance plans like this will exclude your belongings from losses. As a renter, you should carry renter’s insurance no matter if you are living in a house or an apartment. Additionally, having liability coverage is important for situations such as someone being hurt within your home.
Getting the Burlington, North Carolina insurance you need does not have to be difficult. Talk to our independent agent about your needs. Get competitive quotes for renter’s insurance or homeowners insurance, depending on who you are in this process. Protecting your real estate is critical to ensure there is no loss from fire, weather, vandalism, theft, or even from accidents.