If you’re heading to college or living in a rental property, you should make sure that your personal belongings are protected by a Carolina insurance policy. Renters insurance can protect you against to loss of any personal items to due fire and water damage. If you get a comprehensive coverage plan, it can cover a lot more than the basic plan. Theft, vandalism, and civil disorder are all covered by a comprehensive renters insurance plan. If you’re concerned about the welfare of your possessions, it’s always a good idea to get renters insurance. It’s significantly less expensive than standard home insurance and it covers the full cost of replacing any stolen or damaged items.
The Two Types of Carolina Insurance Policies
When you’re looking into any type of Carolina insurance, you should be aware of what your policy covers. Actual cash value and replacement cost are the two types of policies offered by Carolina insurance companies. If you have an actual cash value plan, the company will pay to replace your possessions minus a deduction for depreciation. This means that they’ll pay you the item’s theoretical value if you had to sell it in its current state before it was damaged or stolen. Actual cash value policies will cost less than replacement cost, but they won’t give you as much money for your items.
A replacement cost policy covers more than an actual cash value policy, because the replacement cost doesn’t have a deduction for depreciation. It will pay to replace your items or at least give you items of equal value. A replacement cost policy usually has a low limit, so be sure to consult your insurance agent before settling on a policy type.
What Does Renters Insurance Protect?
You can have your renters insurance protect a few expensive items, or everything that you own. If you brought you own furniture to the rental property, you should consider getting a full insurance plan. Your possessions cost a lot more when put together than you might realize. When you add the cost of furniture, clothing, computers, books, and jewelry together it comes out to a great deal of money. If any or all of the items are damaged, you’re going to want insurance to cover the cost. The majority of people can’t cover the costs themselves.
Carolina insurance companies offer a variety of different policies, so you’ll definitely find a service that’s right for you. Renters insurance can cost 90 percent less than car and home insurance, which makes it an excellent investment if you have limited funds.