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Home and Renter’s Insurance

Home and Renter’s Insurance

Your home is where your heart is. Whether you rent, lease, or own, you need protection for your residence and belongings in case the unthinkable happens. Romeo Heatherly Insurance Services will broker a home or renter’s insurance policy that fits you and your lifestyle. 

We also offer special homeowner’s policies that provide you with superior coverage to a regular one. This is because the state of North Carolina allows for homeowners to purchase an enhanced policy, which is sometimes referred to as a HE-7.

Here’s why should consider an enhanced HE-7 homeowner’s policy instead of the basic one:

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Enhanced Homeowner’s Insurance Policy

Much like the standard policy, the North Carolina enhanced homeowner’s insurance policy provides you with six coverages:

  • Personal Liability
  • Loss of Use
  • Personal Property
  • Other Structures
  • Dwelling
  • Medical Payments for Others

The enhanced policy adds the following additional benefits to the above six coverages:

Personal Injury (Personal Liability) – This will cover you in the event that you’re sued for slander, libel, or defamation.

Mortgage Expense (Loss of Use) – The enhanced policy will pay up to 20% of your dwelling to live somewhere else while your home is being repaired, and it will also make your mortgage payments for up to 12 months.

All Risk Coverage (Personal Property) – This states that unless your policy explicitly excludes coverage, it’s covered. For example, if a meteor falls from the sky and crushes your house, as long as your policy doesn’t exclude it, you’re covered.

20% of the Dwelling (Other Structures) – The “other structures” part of the policy refers to all other buildings on your property that are not attached to your house. For example, your jacuzzi, swimming pool, detached garage, barn, garden shed, as well as fencing are all considered other structures. The standard policy will only provide up to 10% coverage max. The enhanced one provides coverage of up to 20%. 

Guaranteed Replacement Cost (Dwelling) – This means that the insurance company will pay whatever it costs to rebuild your home.

(Medical Payments for Others) – The coverage extended by the standard and enhanced policies are the same.

Enhanced Homeowner’s Insurance Policy

Much like the standard policy, the North Carolina enhanced homeowner’s insurance policy provides you with six coverages:

  • Personal Liability
  • Loss of Use
  • Personal Property
  • Other Structures
  • Dwelling
  • Medical Payments for Others

The enhanced policy adds the following additional benefits to the above six coverages:

Personal Injury (Personal Liability) – This will cover you in the event that you’re sued for slander, libel, or defamation.

Mortgage Expense (Loss of Use) – The enhanced policy will pay up to 20% of your dwelling to live somewhere else while your home is being repaired, and it will also make your mortgage payments for up to 12 months.

All Risk Coverage (Personal Property) – This states that unless your policy explicitly excludes coverage, it’s covered. For example, if a meteor falls from the sky and crushes your house, as long as your policy doesn’t exclude it, you’re covered.

20% of the Dwelling (Other Structures) – The “other structures” part of the policy refers to all other buildings on your property that are not attached to your house. For example, your jacuzzi, swimming pool, detached garage, barn, garden shed, as well as fencing are all considered other structures. The standard policy will only provide up to 10% coverage max. The enhanced one provides coverage of up to 20%. 

Guaranteed Replacement Cost (Dwelling) – This means that the insurance company will pay whatever it costs to rebuild your home.

(Medical Payments for Others) – The coverage extended by the standard and enhanced policies are the same.

Peace of Mind

The North Carolina Enhanced Homeowner’s Policy will provide you with additional peace of mind—knowing that if something goes wrong, you’re covered. If you’d like to learn more about this policy, the benefits it offers, and why you should consider it over a standard policy, contact us down below.

Renter’s Insurance

Most apartment, townhome, and condo communities nowadays require you to have renter’s insurance. This is to cover any damages to your apartment as well as your personal belongings. If something should happen, your renter’s insurance can help cover:

Replacing your belongings—Computers, furniture, TVs, and even your clothing.

Other living expenses—This can include the costs associated with living somewhere else while your apartment is being fixed.

Renter’s insurance will provide you with peace of mind knowing that you’re covered in the event of a fire, burglary, or other situations.

Frequently Asked Questions

Frequently Asked Questions

Will North Carolina Homeowner’s Insurance rates increase in 2020?

Due to an administrative fight in 2019 between the North Carolina Insurance Commissioner and the North Carolina Rate Bureau, homeowner’s insurance rates will go up in the springtime of 2020 an average of 4% per household.

Rest assured that Romeo Heatherly Insurance is closely monitoring the renewals of all our clients and will start proactively shopping around for a better deal prior to the renewal date.

What North Carolina homeowner’s insurance companies are there?

As an independent broker, Romeo Heatherly Insurance works with multiple homeowner’s insurance companies to find you the best rate that meets your individual needs. We work with such companies as: Nationwide, Utica, AAA, Heritage, Progressive, UPC, Foremost, Allstar, and First Mutual. We also offer builders risk through Zurich

How can I get a quote for North Carolina homeowner’s or renter’s insurance?

At the top of this webpage is an interactive form. It will ask you a series of questions that will enable us to provide you with a quote for homeowner’s or renter’s insurance. 

I started using my house for short-term rental (air-BNB), do I need different insurance?

Absolutely you do! Most people don’t realize that if they change the way their house is used and don’t let their insurance company know; their claims may not be covered. Insuring it correctly as a short-term rental can cost almost the same as what you’re already paying.

I just bought a new home in North Carolina. How do I pay for homeowner’s insurance?

Most times escrowed out of the loan closing and is part of your home loan payment, so the mortgage company will pay the insurance company for it.

Does North Carolina homeowner’s insurance cover flooding?

No, it does not. However, if you wish to add it to your policy, flood insurance is available. Contact us for more info regarding this type of coverage for North Carolina.

How much of my watches, valuables, and jewelry are covered?

A typical homeowner’s policy provides some coverage for watches, jewelry, and other expensive items. However, the coverage provided for these items is usually limited and not that high. This helps keep the overall cost of the policy low.

If you own valuable items, there are two ways that you can ensure that they’re fully covered:

  • Increase the limit of the liability – This is the cheapest way to get coverage for a specific item. Keep in mind that the amounts are still limited.
  • Buy a floater – Buying a floater and scheduling your valuables offers the greatest protection. However, it will cost you more money. A floater provides coverage for any kind of losses—including accidental. Prior to purchasing a one, you will need to have the value of your items appraised by a professional.