A renters insurance policy is a group of insurance coverages designed to help protect residential or home renters and their belongings against certain risks.

A typical renters insurance policy includes four types of coverage that help protect renters and their belongings after a covered loss:

• Personal property coverage helps pay to replace belongings you keep in your rented home if they are stolen or damaged in certain situations, such as a fire.

• Liability coverage can help prevent you from paying out of pocket if you are found legally responsible for another person's medical bills after they are injured in your home.

• Guest medical coverage helps pay for reasonable and necessary medical expenses—such as the cost of X-rays, medical treatment, or an ambulance—if a guest is injured at your home—even if you're not at fault.

• Additional living expense coverage may help pay for additional costs you incur, such as temporary housing, if your rented home is left uninhabitable by a covered risk, such as a fire.

Renters insurance helps pay to replace stolen belongings, up to the coverage limit stated in your policy. Reimbursement for stolen items may be based on their depreciated value or replacement cost, depending on what type of coverage you select.

Certain valuables, such as expensive jewelry, may have more limited coverage under a standard renters insurance policy. If you have expensive jewelry or valuable artwork or collectibles in your rented home, you may want to add an endorsement or rider to you renters policy to increase the coverage for those personal property items. You may have to get an appraisal of their value to schedule such items for additional coverage on your renters policy.

In North Carolina (NC), renters insurance policies are designed to provide financial protection for tenants and their personal property. These policies typically include personal property coverage for damage or loss due to events like theft or fire, liability coverage for legal responsibility if someone is injured in the rental unit, guest medical coverage for medical expenses if a guest is injured, and additional living expenses if the rental becomes uninhabitable due to a covered peril. Coverage limits and reimbursement for stolen or damaged items will depend on the policy's terms, which may offer actual cash value (depreciated) or replacement cost coverage. For high-value items like jewelry or art, NC renters may need to purchase additional endorsements or riders to ensure adequate coverage, often requiring appraisals. It's important for renters to review their policy details and speak with an attorney or insurance agent to understand the specific coverages and limitations of their renters insurance policy in North Carolina.