Month: November 2024

When you rent a home or apartment in North Carolina, you likely want to make it as comfortable and enjoyable as if it were your own. This might involve adding personal touches like a built-in bookshelf or lawn furniture. Your renters’ policy from Lee Insurance Agency LLC can help protect your investment in your rented home with add-ons and personal property scheduling.

Understanding Renters Policies

Your landlord’s insurance covers damage to the home or apartment but doesn’t protect your furnishings, personal belongings, or liability. That’s where your renters’ insurance comes in. Most policies provide about $1,000 of personal property protection. You can increase this coverage, but it still might not fully cover some items.

Coverage for Home Business or Home Office

To address this issue, policyholders can enhance their basic renters’ insurance with add-ons that cover a home-based business, expensive items requiring scheduling for full coverage, or replacement cost coverage. For instance, if you operate a business from home or work from home using your own equipment, adding a rider, also known as an add-on, for a home business or home office provides specific coverage for your business equipment and business liability.

Replacement Cost Coverage

A rider for replacement cost coverage ensures that if a peril named in the policy damages or destroys your personal property, you’ll receive the full replacement cost of the item upon filing a successful claim. Typically, insurance companies pay the depreciated value.

Scheduling Items

Lastly, schedule items that would be expensive to replace. Many people choose the jewelry add-on and schedule their engagement ring at its full replacement value. It’s also common to schedule photography equipment, audio/visual equipment, and any costly hobby equipment, such as power tools or film-developing equipment.

Contact Our Agency Today

Let your Lee Insurance Agency LLC agent help you add coverage to your renters’ policy today. Call or email our office to protect your belongings in your rented North Carolina home.