North Carolina Landlord Insurance

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  • North Carolina Landlord Insurance

Becoming a landlord in the Tar Heel State is a major accomplishment. Not only are you investing in your future, but you’re helping people along the way by providing them a home to call their own, even if it’s only temporary. But every landlord in the state must protect their investment with adequate North Carolina landlord insurance.

Landlord insurance in North Carolina provides coverage for your rental units, whether you own a single-family home, multi-unit apartment building or some other piece of property in this amazingly diverse state. Plus, if your rental property is hit by a covered peril, like a hurricane or intense snowstorm, and your tenants must temporarily move out, condo insurance may be the only bridge between getting repairs paid for and not missing out on lost rental income.

What’s Covered With a North Carolina Landlord Insurance Policy?


This covers the actual structure of your home and the components that make it, such as the roof, siding, windows, countertops and flooring. Since you’re not the one living in the home and taking care of it full time, the landlord’s dwelling coverage should be equal to or a little more than your home’s actual value.

Other Structures

Depending on the type of property you own, other structures coverage may or may not apply. If you rent out a house, this coverage extends to things like fences, sheds, carports and detached garages, and is typically up to 10 percent of the dwelling amount. However, if you’re renting one or a few units in a condo complex, there’s a good chance you won’t own any of these types of coverage and, therefore, don’t truly need it.

Personal Belongings

If you store on the rental property things like a lawnmower, tools for working on the home or other items that directly help you maintain your rental unit, these items would be covered under the personal belongings portion of your landlord policy. Unfortunately, your tenants’ belongings are not covered.

Landlord Liability

It’s a good idea to maintain adequate landlord liability protection in the event one of your tenants or their guest is injured on the property and you’re held liable. This could happen for a number of reasons, including a broken stair that wasn’t repaired or a faulty fix. This coverage helps to pay for medical bills and legal expenses up to your policy’s limits.

What Are Some Extra North Carolina Landlord Coverages to Consider?

Landlord Contents: For those North Carolina landlords who furnish part or all of their rental properties, there’s an optional landlord contents coverage you’ll want to opt in to. This covers the belongings you keep in the unit, like furniture, electronics and appliances.

Construction: If the building codes change or you’re working on renovations, you’ll want to make sure you have coverage for your rental property that’s under construction. This helps mend the money until the home is ready for occupation again.

Loss of Income: If your rental property is hit by a covered peril and your tenants are forced to temporarily move out of the home, you’re not getting a rent payment each month. Luckily, adding loss of income into your North Carolina landlord insurance policy can help pay you the money you’re losing out on each month until the home is repaired and tenants are able to move back in.

Burglary and Vandalism: If your rental property is broken into and damaged or vandalized, purchasing additional coverage for burglary and vandalism will quickly become your best friend. This can help repair parts of your home that have been damaged or replace your property that was stolen.

What’s the Average Cost of North Carolina Landlord Insurance?

Landlord insurance in North Carolina costs about $1,150 per year for $200,000 worth of coverage for the structure of your home, $100,000 worth of liability insurance to help you if someone is injured on your property and you’re deemed to be liable and much more coverage.

The average cost of landlord insurance in North Carolina is much lower than the national average, so enjoy all the coverage at a fraction of the price! Keep in mind that your premium price varies greatly based on the value of your property and the amount of coverage you need.

  • Average Cost of Landlord Insurance in North Carolina: $1,150 per year

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The editorial content on Clovered’s website is meant to be informational material and should not be considered legal advice.