Renting Is Common In North Carolina.
As a resident of North Carolina, you may know that the Wright Brothers made the first successful powered flight near Kitty Hawk, NC in 1903. When the homeowners policy as we know it was introduced in September, 1950, you could buy a policy that would include damages resulting from falling objects, such as poorly built planes flown by bicycle makers. Your North Carolina renters insurance policy with Effective Coverage will provide coverage for falling objects, but perhaps more importantly, it will cover things like fire and theft.
Effective Coverage is dedicated to helping North Carolina renters from Raleigh to Charlotte purchase affordable insurance. Does it surprise you that you never heard of a company that specializes in insuring renters? It surprised us too, which is why Effective Coverage is here to provide affordable North Carolina Renters Insurance policies specifically to renters.
Why Is Renters Insurance So Hard To Find?
There are several reasons for this. The first is that a state board sets the rates that insurance companies can charge. In reality, these rates may not always be in line with what it actually costs to provide the coverage. As a result, companies can either take a loss on every renters insurance policy they sell, or they can just not sell standalone renters insurance policies. This means that some carriers won’t write just a renters policy. While that may be fine for someone with bundled insurance, it doesn’t help someone who is in college and still on his parents’ auto insurance and does not have an auto to bundle insurance with.
There’s also significant underwriting issues to consider in the form of coastal risk exposure. It’s important to understand that an insurance company can’t just write in certain parts of the state. They either write renters insurance, or they don’t. Generally speaking, they can’t pick and choose whether they want to write only inland or only coastal, for example. Because of the varied geography of North Carolina, this presents some unique challenges in properly underwriting policies within the state.
It can be difficult to find a renters insurance provider who will write you a comprehensive policy at the right price, all by itself. Effective Coverage fills this gap by offering renters insurance policies that don’t require bundling and are easily available and easily understandable!
How Much Does Renters Insurance Cost in North Carolina?
Renters insurance doesn’t cost much in North Carolina due in part to the NC Rating Bureau. This is the organization that sets the rates that are allowable to charge. While carriers can charge a small amount more than those numbers with a form called “consent to rate,” that still doesn’t necessarily make certain types of risks logical to take on. Renters insurance is cheap in most places because it’s not covering the structure, but it’s often even less expensive in North Carolina as a direct result of the unique system of price regulation. The national average cost for renters insurance is $15-$20 per month. In NC, renters insurance costs hover closer to $10-$12 a month in most cases. It’s cheap, but it’s the same coverage you’d get in any other state.
How Can I Get North Carolina Renters Insurance?
Effective Coverage is able to offer North Carolina renters insurance to anyone who needs it, regardless of what other policies you might have in force or what your past claims or credit history might look like. Every carrier uses credit-based insurance scores, but there’s a huge variation in how North Carolina insurers use credit-based insurance scores. Because Effective Coverage has access to many markets to place your renters insurance policy, Effective Coverage is the top renters insurance provider in North Carolina. Just call Effective Coverage at (800)892-4308 or click above for your instant renters insurance quote!