Insurance For Your NC Rent House – Did You Remember Personal Injury Coverage?

If you own a rentl house in North Carolina, then surely you bought a dwelling fire insurance policy in case it burns. I hope you also extended liability protection from your homeowners insurance policy to that rental house location. But there is one other step that most landlords forget to take when setting up insurance on their rental properties. I’m talking about the personal injury endorsement that can be added to your homeowners insurance policy.

The NC personal injury endorsement on your homeowners policy is good option and a super deal for incidental landlords who own just a few properties and who have already extended the liability protection from their homeowners insurance to their rental locations. Start with the fact that it is usually very inexpensive, rarely more than $25 a year. Second of all, the coverage that this endorsement adds seem tailor made for landlords. Let’s take a quick look at some of what this endorsement adds in terms of protection for the incidental landlord.

NC endorsement number HO3282, edition date 05/03, defines personal injury among other things as false arrest detention or imprisonment, malicious prosecution, wrongful eviction or wrongful entry into or invasion of the right to private occupancy by a landlord or lessor. These are all perils for which the landlord has high risk. In NC, the law is complex regarding tenant eviction procedures so the wrongful eviction protection of this endorsement alone makes it worth the money in my opinion. There are other actions included in the definition of personal injury but those I mentioned above are the ones most important to landlords. The way the endorsement works is simply to add these definitions to what is included in the liability coverage of your homeowners policy.

But a word of caution is needed here. Just adding this endorsement to your policy doesn’t give you carte blanche to proceed against your tenants without concern for their rights. The exclusions section of this endorsement makes it clear that prior knowledger that your actions will violate the rights of another and will inflict personal injury voids your from coverage. This can be found in the exclusions section of the endorsement and you should read and understand all exclusions on this endorsement before you add it to your policy.

Landlords have plenty to worry about day to day. If you own a rental property, then please make sure that your agent takes the time with you that you need to fully understand and explore all of your options for protection. At Clinard Insurance Group, in Winston Salem, NC, we work hard to help all insurance consumers to be informed insurance buyers. We insure many incidental landlords and have helped people in this position for many years. If we can help you answer your questions regarding homes you rent to others in North Carolina, please feel free to call us toll free, at 877-687-7557 or visit our web page for dwelling fire insurance.