Best Renter's Insurance Companies in Asheville

Frequently Asked Questions

• What risks are covered by renters' insurance in Asheville?

  In Asheville, renters' insurance covers expenses associated with replacing personal belongings that have been damaged or lost as a result of events such as fire, theft, or vandalism. Renters' insurance also helps tenants pay for additional living expenses when their rented residence becomes uninhabitable due to covered risks. For easier claims processing, tenants should record their personal possessions by creating a home inventory using receipts, videos, and photographs.

• How does the average cost of renters' insurance in Asheville compare to other major cities in North Carolina?

  Asheville renters typically pay an average annual insurance rate of $137, which is equivalent to $11 per month, making it lower than the state average. Comparatively, the average annual renters' insurance cost is $163 in Charlotte, $159 in Raleigh, and $244 in Fayetteville. The average annual renters' insurance expense across North Carolina amounts to $162, or approximately $14 per month.

• What is the purpose of liability coverage in Asheville residents' renters’ insurance policies?

  The liability coverage in renters' insurance helps Asheville residents pay for medical expenses for another individual injured in a rental residence. This type of coverage also covers legal costs in the event of a lawsuit arising from an incident that occurs within a rental property. The covered situations include fall-related injuries and damage to a third party's property arising from social events hosted by the tenant.

• How much of an impact can a poor credit score have on the cost of renters' insurance in Asheville?

  In Asheville, individuals with lower credit scores typically spend an average of $231 on renters' insurance. This rate is approximately 43% higher than the cost for those with favorable credit. The insurance credit score serves as a gauge for insurers to assess the risk associated with covering tenants, helping them determine the appropriate pricing for tenant coverage.

• What factors should Asheville residents take into account when purchasing renters’ insurance?

  When shopping for renters' insurance, Asheville residents should ensure that their policies cover the replacement cost of their personal belongings. They should also select a deductible that aligns with their insurance needs and budgets. Opting for a higher deductible can lead to lower premiums, but it also entails a higher out-of-pocket expense in the event of unforeseen incidents.