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By Mike Causey

Caps and gowns have been ordered. Graduation announcements are being sent out. Before long, young men and women will be walking across a stage at high school and college campuses across North Carolina to accept their hard-earned diplomas.

Not long afterward, a number of young adults will be moving out of their parents’ homes, some temporarily, others permanently. Some will be moving into dormitory rooms or apartments while at college. Others leaving the family nest may be moving into some other form of rental housing.

One of the items to check into when moving into your own space is renters’ insurance. Renters’ insurance is affordable and can be an invaluable tool for peace of mind. You’ll know that if your belongings are stolen, damaged or destroyed by fire, storms, smoke, vandalism or other covered causes, they will be replaced promptly.

Many renters have a misconception regarding what is covered inside their rental home. Your personal items, such as your clothing, laptop, cell phone, television and furniture are not covered by your landlord’s policy. Landlord policies only cover the landlord’s property.

If you’re renting, you may want to check the homeowners’ policy that your parents have. Some homeowners’ insurance policies include coverage for their children renting while away at college.

I encourage you to reach out to your insurance agent to discuss renters’ insurance. Or you may want to get quotes online. This coverage ensures you’re prepared for unexpected emergencies.

A renters’ insurance policy protects your personal property against damage or loss and covers you in case someone gets injured while on your rented property. Also extends protection to your home’s contents and the personal belongings of those who share your space. Coverage is subject to a designated limit, which is agreed upon by you and the insurance company and specified in the insurance policy.

Typically, renters’ insurance protects against several perils, including fire, lightning, vandalism, theft, ice, snow and sleet.

Water or steam damage from plumbing issues is generally covered while flood damage from nearby streams is not covered and requires a separate flood insurance policy.

If your rental home becomes temporarily unhabitable because of a covered incident, renters’ insurance kicks in to cover additional living expenses, such as housing, meals and storage. Remember to keep your receipts.

Renters’ insurance shields you if you’re held liable for injury to others or damage to the rental property. It can cover medical expenses for individuals accidentally injured on your premises.

Some insurance companies offer discounts if you have burglar and smoke alarms, fire extinguishers, sprinkler systems or deadbolt lock on your exterior doors. Ask your agent if you’re eligible to receive any discounts.

Remember to read through your policy to make sure you understand it before you sign it. If you have questions, ask your agent.

If you need help with your insurance, please call our toll-free number at 855-408-1212 from 8 a.m. to 5 p.m. weekdays to speak to a consumer expert. You may also visit our web page at www.ncdoi.gov.

Mike Causey is the insurance commissioner for North Carolina.

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