Best and Cheapest Renters Insurance in North Carolina for 2024

The importance of renters insurance isn't as obvious as the importance of car or homeowners insurance. Many renters assume their personal items will be covered under their landlord's insurance if they experience a peril in their NC apartment. But that's unfortunately not true! While your landlord's insurance covers the structure of the building you're living in, you'll need renters insurance in North Carolina if you want coverage for the personal items you bring into the apartment your TV, furniture, etc. Plus, liability issues also aren't covered without renters insurance.

So if you want to ensure you're properly covered while renting, it's important to find one of the best North Carolina renters insurance companies. But where do you start? In the table above, you can sort through all the renter's insurance companies ranked on Clearsurance. The rating next to each company the insurer's Clearsurance score is based exclusively on the thousands of ratings provided by customers. Note: Only those companies with at least 25 renters insurance reviews are eligible to appear in the best NC renters insurance rankings.

It is important to know as much as you can about your renter's insurance company before taking out a policy with them. Talking to a local, experienced insurance agent can help answer any questions you may have. Some questions to consider asking include, "What is the average cost for your renter's insurance coverage?" "Does my policy cover things such as water damage and bodily injury?" and "What are my coverage options and my coverage limit?"

Interested in learning more about one of the companies on the list of the best renters insurance companies in North Carolina? You can visit the company's profile page to find more information about the company and read reviews to learn from the experiences of other policyholders.

On this page:

• North Carolina renters insurance rates
• Average cost of renting in Charlotte
• Average cost of renting in Raleigh
• Renters insurance for North Carolina college students
• North Carolina property crime statistics

What are your coverage options on a renters insurance policy?

Just like any other policy, you can usually customize your renters insurance coverage to get exactly what you need. A standard policy contains some form of the following types of coverage:

• Personal property coverage – This type of coverage pays the replacement cost for the personal items you keep in your apartment should they be damaged or destroyed. The policy will usually have a list of covered losses or perils, so make sure to look this over closely.

• Liability coverage – Liability insurance pays for medical expenses if someone is injured in your apartment.

• Loss of use coverage – Loss of use pays for your hotel and food expenditures when you are unable to stay in your apartment because of damages. This may also be called additional living expense coverage or temporary living expenses coverage.

Beyond these basic coverage options, you may also be able to purchase extra protection like identity theft protection, guest medical coverage, and other optional coverages.

People who keep expensive items in their rental unit, like musical instruments, jewelry, or sports equipment, may wish to increase their coverage limits for additional protection.

Who offers the best North Carolina renters insurance rates?

Out of the most popular renters insurance companies in North Carolina, Auto-Owners offers the cheapest North Carolina renters insurance rates and multiple coverages.

On average, the cost of renters insurance in North Carolina is $132.41 per year. While the price you pay will vary based on factors specific to you and your apartment, they also vary based on the company you choose. Some companies may offer renters insurance in North Carolina for a cheaper rate than others. In the table below, you can see average North Carolina renters insurance rates from some of the largest companies in the state.

*USAA is only available to former and active military members and their families.

These average renters insurance rates are based on a policy with $30,000 in personal property coverage (with a $500 deductible), $100,000 in personal liability and $1,000 in medical payments to others. The rates displayed should only be used for comparative purposes as individual rates in North Carolina will differ. Rate data is provided by Quadrant Information Services.

How much does rent cost in Charlotte?

In Charlotte, North Carolina, the average cost of rent is $1,142 per month. The cost of rent can vary based on your location and the size of your apartment.

Charlotte is the most populous city in North Carolina and borders the state's southern neighbor South Carolina. While the average cost of rent in Charlotte is $1,142 per month, rent can vary based on the area within Charlotte. For example, Uptown Charlotte has an average monthly rent of $1,697 while the neighborhood of Hickory Grove has an average monthly rent of $833.

The size of the apartment also affects the cost of rent in Charlotte. On average a studio apartment costs $1,059 per month, a one-bedroom apartment costs $1,027 per month and a three-bedroom apartment costs $1,318 per month. People renting an apartment in Charlotte may also want to consider purchasing a renters insurance policy to protect their personal belongings.

How much does rent cost in Raleigh?

In Raleigh, North Carolina, the average cost of rent is $1,114 per month. Rent in Raleigh can vary based on your location in the city as well as the size of your apartment.

Raleigh, the state’s capital and the second most populous city in North Carolina. While it has average rent of $1,114 per month, depending on the neighborhood in Raleigh, the cost of rent may vary. An apartment in Glenwood has an average monthly rate of $1,446 while an apartment in Rollingwood has an average monthly rate of $973.

In addition to the area within the city, the size of the apartment also affects the cost of rent in Raleigh. On average, a studio apartment costs $903 per month, a one-bedroom apartment costs $969 per month and a three-bedroom apartment costs $1,428 per month. A renters insurance policy may be something renters should consider to protect their personal belongings while renting an apartment in Raleigh.

Is there renters insurance coverage for North Carolina college students?

If you're attending a college or university in North Carolina, you may be renting a dorm on your campus or an apartment located off-campus. There are a few things for college students renting housing in North Carolina to consider in order to protect their personal belongings.

Typically, college students who live in dorms located on the college campus are covered by their parent's homeowners insurance policy. That's usually only the case for students who live on campus, though. North Carolina college students who rent apartments off-campus should consider a renters insurance policy because their items won't be covered under their parents' policy, and without a renters insurance policy, they won't have any protection. Personal property coverage is important to keep your belongings safe from damage and theft.

College students will most likely have roommates in the apartment they rent. It's not advised that students share renters insurance coverage with roommates. Rather, each student should have their own renter's insurance policies to protect their own belongings.

What are North Carolina's property crime statistics?

Theft and vandalism or malicious mischief are among the 16 perils a standard renters insurance policy protects you from. So, how does crime in North Carolina compare to other states around the country? The FBI published the following statistics on crime in North Carolina for 2016:

• Property crime - 277,765
• Burglary - 72,082
• Larceny theft - 190,377

When compared to the national average rate per 100,000 inhabitants, all three crime statistics for North Carolina rank above the national average. It is important to make sure that you are always covered. Ask your local insurance agent if your renter's policy covers additional protection like a burglar alarm. This will not only help keep you safe but also help with peace of mind, knowing that you are protected.

How can you save money on your renters insurance in North Carolina?

While renter's insurance may be more affordable than other types of insurance, no one wants to pay more than they have to. So what are the different ways that you can lower your North Carolina renters insurance premium and have some extra spending money?

Here are the top 5 ways to save on your renters insurance:

• Raise your deductible
• Ask about potential discounts
• Bundle your policies
• Determine the value of your personal property to get the most out of your personal property coverage
• Pay in full by check

If you bundle your auto policy with a homeowners or renters insurance policy with the same insurance carrier, you will usually receive a multi-policy discount (this might also be available for bundling with other insurance products, such as a life insurance policy or boat insurance policy). Some insurance carriers also reduce your monthly premium for safety devices in your apartment, such as a smoke detector, protective devices like burglar alarms, or for setting up automatic payments.

A wide range of discount options may be available, so make sure to ask renters insurance providers about your options when you're shopping around for quotes. If you're looking for the most affordable rate, get an online quote for a renters policy from at least three companies before making a decision.

How does Clearsurance rate and rank the best renters insurance companies in North Carolina?

Consistent with its mission towards greater transparency, Clearsurance does not keep its rating and ranking formulas in a black box. Our algorithm analyzes a range of inputs from our independent community of insurance customers, including:

• Price
• Customer Service
• Claim service
• Likelihood to renew

The algorithm also takes into account the percentage of what customers say the company does well vs. the percentage of what customers say the company could do better.

The Clearsurance customer ratings and rankings are derived entirely from customer reviews and ratings.

Do you need a renters insurance guide?

As we mentioned above, there are common misconceptions regarding what is and isn't covered by a renters insurance policy. Before you purchase a policy from one of these best renters insurance companies in North Carolina, it's important to understand what your policy covers. For example, did you know that many renters insurance policies include liability protection in the event a non-resident is injured on the property? Plus, if your apartment becomes uninhabitable from an incident, some policies may cover your additional living expenses as you find temporary housing in North Carolina.

It is important to know all that you can before taking out a renters insurance policy. Learn about the insurance company and the protection that their policies offer before making a final decision. Know and understand your policy limits and ask about what additional coverages you can add to your protection.

While we all want the most affordable renters’ insurance, it is important not to sacrifice the quality of your protection just to save some money. Talk to a local insurance agent about what insurance company is right for you, and what coverages they offer.

We want to make sure you’re equipped with a proper knowledge of renters insurance, so check out our renters insurance guide. Looking for more educational information about renters insurance? Check out our renters insurance blog for more information and topics related to renters insurance.