Welcome to the Official Greensboro, NC Renters Insurance Guide. We appreciate you taking a few moments to look around and see what information you might be able to glean. Why does Effective Coverage publish renters insurance guides for over 100 cities and for each of the fifty states? Because we don’t just sell North Carolina Renters Insurance, we’re passionate about renters insurance. We believe that no renter should be exposed to risk because they can’t afford coverage, or because they don’t know it exists.
Did you know that nationwide, only forty-four percent of renters have insurance? Did you know that the national average for a renters insurance policy is just $180 a year, and it’s even less in NC? As a result, and in line with our core values, Effective Coverage is aiming to educate and protect renters all over the nation.
Greensboro, NC renters insurance is downright cheap. But just like any product, residents won’t get renters insurance in Greensboro if they don’t know that it’s available and affordable. That’s why we create these guides, and why we work to educate renters and help them determine their insurance needs. Effective Coverage is the only national insurance provider to be focused exclusively on meeting the needs of renters, and our expertise shows.
Greensboro, NC Renters Insurance
What’s Covered Under Renters Insurance in Greensboro?
There are three main types of coverage on Greensboro renters insurance. The first is the one that landlords expect you to have, and that’s called liability. Liability coverage on your renters insurance covers you if you cause injury or property damage to another person or entity. It applies to you no matter where you are, so whether you start one of the 200,000 annual kitchen fires in your apartment or whether your cigarette falls off the dresser in a hotel and starts a fire, the coverage is still there. If your negligence is the cause of the damage or loss, liability is there to protect you. Better yet, it also provides a defense against those claims if you’re sued, as well as takes care of negotiating settlements when possible or necessary.
Liability would cover you if someone is injured in your apartment, but there’s a subset of liability coverage on Greensboro renters insurance that might interest you. It’s called medical payments to others, and it pays for injuries sustained by your guests without regard to fault. It’s a small coverage, generally less than $5,000, and it’s designed to settle injury claims quickly and without admitting responsibility.
The next major coverage on your renters insurance in Greensboro is going to be personal property. That’s what protects the things you own and have worked hard for from fire, theft, vandalism and other renters insurance perils. The vast majority of people can’t afford to replace everything they own in the event of a fire or theft. Further, most people terribly undervalue their personal property. We have a video on how to determine how much personal property coverage you need that explains further how to get a reasonably accurate value. Remember that you’re dealing with the cost to replace the property, not just the actual cash value of it, and there’s often a significant difference between those two numbers.
In addition to that coverage, you also get coverage for renters insurance loss of use. In short, this pays for you to stay somewhere else if your apartment is not usable as a result of an otherwise covered loss. If there’s a fire, or if the damage from a break-in is such that it’s not safe to stay there, you’re going to need a hotel. Do you know what hotels in Greensboro cost? You could easily spend $200 or more a night! If there’s a loss like a fire, you don’t want to be paying that out of pocket, do you? That’s what loss of use coverage is for on your Greensboro renters insurance.
Is Flood Covered On Greensboro Renters Insurance?
Nope. Flood is not covered under any renters or homeowners insurance policy, even on renters insurance in Greensboro. That’s specific to water moving along the ground, though. Personal property damage from broken pipes and liability from overflowing bathtubs can be covered. Those are totally separate matters from flood.
Did you know that you can get coverage for water backup of sewers and drains? That’s an endorsement, it’s not included by default, but the few dollars a year it costs, it’s a good idea to have. Never forget that you can be liable for damage to the neighbors’ property as well as the unit if there’s a toilet overflow, and those can be expensive to remediate, as well. Give serious consideration to having the coverage on your renters insurance in Greensboro.
Is Wind Covered On Renters Insurance In Greensboro, NC?
Yes! Wind is generally only excluded in coastal areas and on barrier islands. If there’s a tornado or a hurricane that impacts you, your Greensboro renters insurance could respond to that. Remember, though, that the building is not your responsibility, so your exposure from storms is somewhat lower than if you were responsible for, say, the roof.
Why Are Renters Insurance Prices So Low In Greensboro?
There are a few reasons for that. First of all, Greensboro is a safe town with fairly low risk for many perils. The price of renters insurance is set based on expected claims and risk, and when those are lower price trend lower, as well.
The other reason that Greensboro renters insurance is such a great deal is that North Carolina has an archaic and complicated system for setting insurance rates. Many people strongly suspect that all the carriers submit their proposed rates, and then the commissioner picks one of them out of a hat and that’s the new price for insurance. The process is, of course, a bit more organized than that, but some have said that’s a pretty decent explanation.
We note that there was a recent request for a rate increase that correlated to claims, and it was denied nearly across the board. Homeowners and renters insurance in Greensboro isn’t likely to get more expensive in the near future.
Renting In Greensboro, NC
Greensboro, NC, with a population of 277,000, has increased in size by nearly 25% since the turn of the century. With a median home value of just $140,000 and median rent of just $729, living in Greensboro is inexpensive. It’s fairly easy to find housing, and once you do you’ll want to make sure you protect your lifestyle with Greensboro renters insurance.
Greensboro is the third largest city in North Carolina, but still retains the Southern small-town feel while giving access to the world via I-85, I-40, and I-73, as well as the nearby I-74. Originally spelled Greensborough, the city was planned around a central square to become the county seat. With gently rolling hills and easy access to both mountains and beaches, Greensboro boasts something for everyone. FedEx gave a major boost to the local economy in 1998 when it built an air cargo and sorting hub here, which was eventually opened in 2009 after protracted litigation over noise and pollution concerns.
Lorillard, Mack Trucks, Volvo Trucks, Honda Aircraft, and many other major international companies call Greensboro home. The tech industry is becoming a major employer as the city works hard to move past its history of textile and tobacco. A new research park opened as a joint venture between UNC Greensboro and NC A&T State University is offering significant impulse in this direction. Greensboro also works hard to redevelop its downtown. The former Woolworth building where sit-ins occurred in Greensboro is now home to the International Civil Rights Center and Museum since 2010.
Whatever brings you to lovely Greensboro, you won’t have trouble finding an apartment to rent to make your life complete. You also won’t have trouble protecting that life with Greensboro renters insurance, thanks to Effective Coverage!