Welcome to the Effective Coverage Asheville, NC Renters Insurance Guide. North Carolina Renters Insurance can be confusing, especially because of the way prices are set – we’ll touch on how Asheville, NC renters insurance premiums are determined a bit further down the page. Regardless of the reasons, renters insurance in Asheville can be complex, confusing, and easily conflated. That’s why Effective Coverage is on a mission, in line with our core values to educate North Carolina residents about their options for coverage and getting the best prices on Asheville renters insurance.
While nationally forty-four percent of Americans have renters insurance in some form, not all of them have the right coverage or the right price. Even if we consider someone with the wrong coverage to be “insured,” that still means that fifty-six percent of Americans lack renters insurance of any kind at all. That figure is even higher in western NC, because very few renters insurance providers have made much of an effort to educate residents about the coverage available to them. Some providers don’t want to write in the regulatory environment that is North Carolina, but Effective Coverage is proud to offer a full suite of insurance serves throughout NC, including Asheville renters insurance.
Effective Coverage has a long history of offering renters insurance to those who might not otherwise be able to find coverage, and Asheville, NC renters insurance is no different. There’s a policy just for you that gives you the coverage and price you deserve, and you can get it quickly and easily by working with the insurance experts for renters.
Effective Coverage offers the nation's only completely mobile platform to quote and purchase renters insurance right from your phone or tablet in just one minute. Get an online renters insurance quote today and protect your family.
Asheville, NC Renters Insurance
How Are Asheville, NC Renters Insurance Premiums Determined?
Some insurance agents in North Carolina claim that each company files the rates it wants to charge with the state, and then the Commissioner picks one of those numbers out of a hat, publicly binds all other insurers to that number, and then backfills logic and reason into a justification for the same. On the other hand, if you ask the North Carolina Rate Bureau what happens, they’ll tell you that it’s a long, arduous process involving significant study of the impact of a rate change, whether the economy can handle the change in premiums, whether customers want to pay the new premiums, and many other factors and that the decision is made with painstaking care.
No matter which of those two theories you believe, the fact remains that North Carolina Renters Insurance premiums are artificially low due to the regulatory environment in the state. At a glance, that seems like it would be good for consumers, but it’s actually been an overall negative experience for most insureds in North Carolina. Asheville renters insurance can be very difficult to find, because with rates held artificially low, mono-line home insurance policies (without a bundled supporting policy such as auto) almost invariably operate at a loss to most carriers. That means they don’t want to write them, and North Carolina is an easy state for carriers to pull out of.
Asheville, NC renters insurance can be hard to find, but Effective Coverage has joined forces with top underwriters who understand the Asheville renters insurance market and are actually eager to write the business. That’s right, Effective Coverage has underwriters who are happy to write Asheville renters insurance policies, even those that stand alone. That’s yet another benefit to working with the North Carolina Renters Insurance experts: Because we’re experts in our field, we have the connections to be able to bind coverage for just about any situation.
Why Is It So Hard To Find Renters Insurance In Asheville, NC?
The regulatory environment in North Carolina is rather different from that in most stated. As you saw above, the way Asheville renters insurance is regulated makes it difficult for carriers to operate even at a break-even point, much less return a profit to stockholders. Many companies have pulled out of the market altogether. But Effective Coverage takes pride in offering solid coverage to renters even in hard markets, and because of our commitment it’s actually easy to find Asheville, NC renters insurance. One quick call or click is all it takes, and in just minutes your Asheville renters insurance expert will have you covered with the right coverage, at the right price.
Who Is The North Carolina Rate Bureau, Anyway?
Formed by the General Assembly of North Carolina in 1977, the North Carolina Rate Bureau purports to be a “non-profit and unincorporated rating bureau[… which] provides services and programs for the insurance industry in North Carolina for automobile, property, and workers compensation.”
To hear them tell it, you’d probably think they’re something like ISO, the company that creates the policy forms insurers use and provides service to insurance providers. Their function is actually two-fold, however. First, of course, as you see above, they regulate rates for Asheville renters insurance, for better or for worse. Secondly, and perhaps more important, they manage the assigned risk pools.
Those assigned risk pools are more important in North Carolina than elsewhere because of the NCRB. Since the NCRB dictates what may or may not be charged by an insurance company, they also dictate whether an insurer will want to take on a certain risk if they can’t charge appropriately for that risk. That results in those carriers passing off some risks to a reinsurance facility comprised of all carriers operating in North Carolina and operated by the state. Policies placed with that reinsurance facility may or may not have the standard coverage available, that varies between companies. But the minute you hear the words “reinsurance facility” from your insurance company, you need to be aware you’re probably getting charged more and should verify your coverage.
Every state regulates insurance in a different way, and the NCRB is just North Carolina’s way of doing it. Changes could be made to make rate regulation a more efficient and more fairly structured process, but that can be said about any state which regulates anything. Admittedly, the NCRB has done a good job of holding down prices, and many consumers see that as a positive thing.
Renting In Asheville, NC
Asheville, NC is a city in Western North Carolina, and the county seat of Buncombe County. Asheville is the largest city in Western North Carolina, and the 11th largest city in North Carolina. People remember their time in Asheville as a sweet memory for years to come.
Known as one of the most vibrant cities in America, Asheville has a reputation as an art colony and healing resort. As home to more than 85,000 people, many of them retirees, Asheville has a diverse arts community. The city’s rich and diverse architectural style represents a slow recovery from the Depression that allowed Asheville to gain a great collection of Art Deco and a style of its own.
Locally owned-shops and galleries, restaurants and entertainment venues provide positive energy that makes Asheville a city that simply says “Welcome! You will enjoy your stay.” A long way from its roots as just a primitive outpost, nothing more than crossroads of Indian trails, Asheville is a thriving cultural center. The city really began to grow in the 1880s, when the railroad came through and made Asheville into a resort and health center.
Asheville became a home for visitors, moving away from its former status as a mountain town, growing to a population of almost 30,000 residents in 1890. The astonishing architecture was built during the boom years, after years of the city having no money to invest in urban renewal and infrastructure projects. Asheville made a commitment to repay its debt in order to save the amazing architecture whose beauty stands the test of time. While most cities went through major changes over recent decades, Asheville’s historical beauty remains untouched.
No matter what the season, Asheville is an amazing place. Summer brings festivals and blue skies, with views of the mountains as if they had been painted with the finest colors during the autumn months. Snow on the mountain tops, fires and holiday lights announce the winter. Nature awakens with the arrival of flowers, warm weather and cheerful birds chirping, offering a perfect start to a spring.
Making Asheville your home wouldn’t be a mistake because the estimated median home value in 2012 was lower than expected at about $194,000 and the median rent was about $800, making the city quite affordable compared to many other cities with far less interesting history and culture.
Mission Health System, Buncombe County Schools, and Ingles Markets are the largest employers of Asheville, providing their employees the ability to afford enjoying life in Asheville, a glorious city of art and historical beauty. Asheville also takes pride in the 30 plus art galleries in downtown alone, a thrilling live music scene, and in the daily experience of jaw-dropping views of the Appalachian Mountains.
Forbes Magazine in 2007 named Asheville one of the top seven places to live in the U.S., and in 2011 Asheville was picked as one of the “10 Most Beautiful Places in America” by Good Morning America. Asheville is also ranked first among the “Top 100 Best Places to Live” by Relocate America. These rankings are honestly earned, and Asheville is a joy to live in. Make sure you protect your new home with North Carolina Renters Insurance from Effective Coverage. For just a few cents a day, you can have the coverage you deserve at a price you can afford. Relax, you’re safe with Effective Coverage.