You’ve finally found the perfect rental, and as you read the lease agreement, it states that you are required to carry flood insurance. You might think, "Why do I need to carry flood insurance? I don’t own the property." The Lee Insurance Agency LLC team serving North Carolina has some helpful information for you.
You’re correct that property owners must have insurance coverage, but it only covers their belongings and property, not yours. If there’s a flood and your belongings inside the building are damaged, you aren’t protected without proper flood insurance. It’s important to note that you are not required by North Carolina law to carry renters’ and flood insurance. Still, it’s wise to add it to protect yourself and your property, especially if you live in one of North Carolina’s high-risk areas.
Flood Insurance Protects You and Your Belongings
Flood insurance covers all your belongings like furniture, art, bicycles, electronics, and clothing. As previously mentioned, if your rental incurs flood damage, flood insurance will also help cover temporary relocation costs like hotel and food expenditures until you can move back in. It also protects you against liability, meaning if someone gets injured, you could be responsible for expensive medical and legal costs depending on the incident.
Flood Insurance Provides Peace of Mind
When weighing the pros and cons of having renters and flood insurance, the pros always prevail. Floods don’t happen daily, but when they do, it devastates you and your family. The experienced team at Lee Insurance Agency LLC, serving North Carolina, will work with you to find the right flood insurance coverage at a reasonable premium. Contact us today.
