You’ve finally tracked down an apartment in the exploding city of Charlotte, NC, and you’re all set to sign the lease. But wait, what’s this you see in the fine print? The landlord is asking for you to get a renters insurance policy. Whether you’re new to renting in this area or have not navigated renters insurance before, it’s common to have questions. Our team at Kempton Insurance Group is here to help. Here’s what you need to know about renters insurance in Charlotte, NC, starting with whether or not it is actually a legal requirement.
North Carolina Renters Insurance Laws
First and foremost, it’s worth noting that the state of North Carolina does not require individuals to carry renters insurance, nor does the city of Charlotte. However, leases are considered legally binding (assuming they adhere to local laws and tenant rights). You may be required to carry renters insurance as part of your lease, and not doing so could be grounds for eviction.
Landlords Can Require Specific Amounts of Coverage
As part of the lease, your landlord can state how much coverage they would like you to get. More and more landlords are starting not only to require renters insurance in Charlotte, NC but also to stipulate minimum coverage amounts. The good news is that signing up for a policy can typically be done pretty quickly, often the same day you sign your lease.
Homeowners Insurance is Not the Same as Renters Insurance
You might wonder why you need homeowners insurance if your landlord already has homeowners or building policy. However, this only covers the structure and surrounding property, not your personal belongings. Renters Insurance focuses on individual tenants rather than the property as a whole, which is why many landlords require it.
Need renters insurance? Contact Kempton Insurance Group today to learn about your options!