What’s important to a Raleigh Renters Insurance claim? Find out below our Video Guide to North Carolina Renters Insurance.
When you’re buying renters insurance in Raleigh, it’s crucial to get make sure that you list the right people on the policy. You generally don’t need to list your spouse or anyone who is related to you. That includes your kids, minor or adults. Minor children generally can’t be listed, because they’re minors. They couldn’t contract for an insurance policy even if they wanted to.
Spouses and relatives usually are rolled into the definition of the “named insured” in the policy document, because it’s understood that you wouldn’t buy a policy for just you, with the intention of leaving out people you are married or related to, and live with. But what about other people? Renters insurance for non-traditional households has been a hot topic of late, and doing it wrong can get your insurance claim denied.
When people live together, they find their stuff intermingled. It’s been ten years since the North Carolina law banning unmarried cohabitation was struck down. That’s not, of course, to say that it was heavily enforced in the years leading up to that decision, but it was still on the books up to that point. Now, of course, couples are free to live in whatever residential arrangements they choose.
That’s led to a surge in the number of boyfriends, girlfriends, partners, and other collections of significant others moving in together. Moving in together is a happy time, and a time filled with a wide variety of logistical concerns. Do you get a new apartment, or use one of your existing apartments? Whose name are the bills in? Are both names on the lease? Who rents the moving truck?
Most people don’t give much thought to insurance of any kind when they’re moving in together, and that’s a problem. If you don’t make the appropriate changes, you’ll find yourself with a renters insurance claim denied. That’s always a bad position to be in, because you’ve obviously suffered a loss if you’re making a claim, so you need that coverage to be available. If you’re living with your girlfriend or boyfriend, why could you have a renters insurance claim denied?
The number one reason to have a renters insurance claim denied when you’re living with your significant other is…
Significant Other Not Listed On The Policy.
No, really. If the person isn’t someone who is included in the definition of named insured (girlfriends are not) and they’re not listed on the policy as insured in some capacity, there is no coverage for that person. Even if the person who is insured brought most of the property to the joint household, that doesn’t mean the other person didn’t contribute or that their loss isn’t significant.
If you have a fire or a theft, and only one of you is insured, that means only one of you is getting your stuff back. In an era when each person carries around or uses several thousand dollars of laptop, cell phone, and other electronics on a daily basis, that’s a big deal – even if most of the furniture belongs to the person who is an insured, the other person is still out all their electronics if that renters insurance claim is denied.
The national average price of renters insurance is just $187.00, according to the III. That works out to as little as fifteen dollars per month. The vast majority of families can budget renters insurance easily at those prices.
Additionally, it's important to note that renters are at a significantly higher risk of experiencing loss than homeowners. Renters occupy roughly one third of total housing stock in the country, and yet they are fully fifty percent more likely to experience theft than homeowners, according to the Bureau of Justice Statistics.
It only costs a few dollars a month to protect your family, and this cheap renters insurance is a great way to mitigate the additional risks that come with being a renter.It often doesn’t cost anything to add the person you live with as an insured on your policy. That might well make it equally their policy, as well, but it can be done without changing the cost in most cases. Besides, cheap Raleigh Renters Insurance is quite common because of the way insurance is priced in NC.
If you’re moving in together with your girlfriend or any other significant other, the only way to make sure that you’re both protected and to avoid having a renters insurance claim denied is to make sure you’re both listed on and insured under the policy. This isn’t just for personal property coverage, either. Remember that you as tenants are both jointly and severally liable for damage to the property.
If there were to be a fire due to the negligence of the person who was not insured under your policy, there would be no liability coverage for them. Your policy would pay what you owe, up to the liability limit of the policy, and your policy would defend you against the lawsuit over the fire. Your policy would not, however, pay for their defense or their portion of the loss.
Normally, that would mean they’d be on the hook personally, but remember you’re jointly and severally liable. That puts you in the awkward position of also being responsible for their portion of the liability loss over and above what your policy is able to pay, because of that joint and several liability. Your insurance won’t pay anything additional for that, having likely settled for the policy limit. The portion for which you’re responsible is paid, but you could still be held responsible for their portion because they’re not insured!
It’s easy and quick to get renters insurance in Raleigh that will cover everyone who lives in the household. It’s also quite affordable. You can both be covered quickly, just call (800)892-4308 or click to get covered - whether you need Raleigh renters insurance quotes online or coverage anywhere else!
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