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, renters insurance policies are designed to provide financial protection for tenants and their personal property. These policies typically include personal property coverage, which helps replace belongings damaged or stolen under covered circumstances like fires or theft. Liability coverage is also a standard part of renters insurance, protecting renters from out-of-pocket expenses if they are found legally responsible for someone else's injuries on their premises. Guest medical coverage is included to cover medical expenses if a guest is injured in the rental property, regardless of fault. Additionally, if a covered risk renders the rental home uninhabitable, additional living expense coverage can assist with costs such as temporary housing. It's important to note that reimbursement for stolen items may be based on actual cash value or replacement cost, depending on the policy chosen, and high-value items like jewelry may require additional endorsements or riders for adequate coverage. Renters in North Carolina should review their policy limits and consider additional coverage for expensive items, possibly supported by appraisals, to ensure comprehensive protection.