If you rent a home, you may wonder if you need to purchase home insurance. The answer to this question depends on a few factors, including your rental agreement and the value of your belongings. This article will discuss whether or not renters need home insurance and what factors you should consider when deciding.
The Type of Rental Agreement You Have
If you rent a home, you’ll likely have one of two rental agreements: a lease agreement or a month-to-month agreement. A lease agreement is a contract between you and your landlord that stipulates the length of time you’ll be renting the property and other terms and conditions. On the other hand, a month-to-month agreement does not have a set end date and can be terminated with 30 days’ notice by either party.
If you have a lease agreement in Burlington, NC, your landlord may require you to purchase home insurance from a reputable company such as Don Allred Insurance. This is because, under a lease agreement, you’re responsible for any damage you cause to the property. However, if you have a month-to-month agreement, your landlord is typically responsible for any damage to the property, and therefore you may not need to purchase home insurance.
The Value of Your Belongings
Another factor to consider when deciding whether or not to purchase home insurance is the value of your belongings. If you have expensive items, such as jewelry, art, or electronics, you may want to insure them in case they are damaged or stolen. However, if you do not have any valuable items, you may not need to purchase home insurance.
Don Allred Insurance in Burlington, NC is here to help if you’re still on the fence about whether you need home insurance as a renter. We’ll work with you to determine what kind of coverage makes the most sense for your situation and budget. Give us a call today.
What is the minimum amount of auto insurance required by law? This is a question that can be difficult to find an answer to because the requirements vary from state to state. In this blog post, we’ll provide a general overview of the minimum amount of car insurance required in each state. Keep in mind that you should always consult with an attorney or your state’s Department of Motor Vehicles to get accurate information about the specific requirements in your area.
Minimum Requirement In North Carolina
In Burlington, NC, the minimum amount of auto insurance required by law is $30,000 for bodily injury per person, $60,000 for bodily injury per accident, and $25,000 for property damage. However, it’s important to note that these are only the minimums required by law. You may consider carrying additional coverage to protect yourself financially in an accident.
What Insurance Covers Are Mandatory?
In most states, two types of coverage are mandatory: bodily injury liability and property damage liability. Bodily injury liability covers the medical expenses and damages incurred by the other driver and their passengers if you’re found at fault for an accident. Property damage liability covers repairing or replacing the other driver’s vehicle if you’re found at fault for an accident.
While these two types of coverage are typically required by law, some states require drivers to carry uninsured/underinsured motorist coverage. This type of coverage protects you financially if you’re involved in an accident with a driver who doesn’t have insurance or doesn’t have enough insurance to cover the damages.
A professional insurance company such as Don Allred Insurance can help you find the right auto insurance coverage for your needs.
Burlington, NC is a great place to call home. When you’re ready to shop for auto insurance, contact the experts at Don Allred Insurance. They’ll be able to help you find the coverage that’s right for you and your budget.