CHARLOTTE, N.C. — In a statement released by the North Carolina Department of Insurance, a survey by the National Association of Insurance Commissioners shows 35% of Generation Z adults have cell phone protection plans, but only 21% have renters' insurance.
Gen Z are those born from 1997 to 2012.
As college students in North Carolina get ready to start the fall semester and move into their dorms or apartments, State Insurance Commissioner Mike Causey said renters' insurance is something they should have.
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Renters' insurance is meant to protect a person's personal property against damage or loss.
Causey said it's a misconception that landlords' insurance would cover personal possessions, such as furniture, clothing, and laptops, in case they're lost in a fire or stolen. Landlord policies only cover the building itself.
Here are the other tips from NCDOI:
- Renters insurance provides liability coverage in case someone in your home gets hurt, or damage is done to the rental property. Standard coverage would be limited to personal property like money and jewelry.
- Premiums are usually around $25 a month depending on where you live. If you want to cover items from atypical dangers like hail or lightning, that will cost extra.
- Students living in a dorm room should check their parents' homeowners' insurance policy since they may be covered.
No matter where co-eds move into for the start of the semester, it's important to check your housing agreement. Some apartments or townhomes require tenants to purchase a renters' insurance policy.
Renters with questions can call the Department of Insurance toll-free at 855-408-1212 between 8 a.m. and 5 p.m. Monday through Friday to speak to a consumer expert.
Contact Jane Monreal at jmonreal@wcnc.com and follow her on Facebook, X and Instagram.
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