The average cost of renters insurance in North Carolina is $13 per month. Over the course of a year, renters pay an average of $157. This is well below the national average of $180 per year. Even more affordable plans can be found. We even found some renters insurance plans in North Carolina for as little as $8 a month.
| Coverage amount | Average cost per month | Average cost per year |
|---|---|---|
| <$13,999 | $8 | $93 |
| $14,000 | $9 | $11 |
| $20,000 | $11 | $127 |
| $26,000 | $14 | $171 |
| $32,000 | $16 | $187 |
| $38,000 | $19 | $22 |
| $44,000 | $20 | $235 |
| $50,000 | $23 | $279 |
| $75,000 | $31 | $367 |
| >$100,000 | $43 | $516 |
| North Carolina average | $13 | $157 |
| Source: National Association of Insurance Commissioners (2019) | ||
In general, renters insurance is affordable. As your monthly premium increases, your coverage limit typically increases. The coverage limit refers to the maximum amount that an insurance company will pay to you in the event that you have to make a claim. The cost of replacing your personal items can be high in the event of fire, theft, water damage or another unexpected event. Having a sufficient coverage limit can give you peace of mind at a low cost.
The cheapest renters insurance available in North Carolina costs only $8 per month, with a coverage limit of less than $13,999. However, there are plenty of higher coverage limits available for affordable monthly rates. If you opt to pay $20 per month, for example, you can receive up to $44,000 in coverage. Consider doing an inventory of your personal items and use that information to help decide how much coverage you want to purchase.
Renters insurance in NC ranges between $8 to $43 a month.
How do your rates compare?
Renters insurance companies in North Carolina
There are many quality options to choose from when searching for renters insurance in North Carolina. One important factor to consider in your search is customer service. Below is a list of the best renters insurance companies in North Carolina, along with two different customer service ratings.
| Company | 2019 J.D. Power overall satisfaction | 2019 NAIC Complaint Index (lower is better) |
|---|---|---|
| State Farm | 5/5 | 0.35 |
| North Carolina Farm Bureau Insurance | — | 0.57 |
| Nationwide | 2/5 | 0.50 |
| USAA | 5/5 | 0.25 |
| Allstate | 2/5 | 0.70 |
| Erie | 3/5 | 0.26 |
| Travelers | 2/5 | 0.32 |
| Liberty Mutual | 2/5 | 0.64 |
| Auto-Owners | — | 0.49 |
| American Family | 5/5 | 0.61 |
| Farmers | 2/5 | 0.57 |
The first customer service rating in the table is the 2019 J.D. Power overall satisfaction rating, scored out of a maximum of five. The second is the 2019 NAIC Complaint Index, which compares the total number of customer complaints to the size of the company. When looking at the NAIC Complaint Index, keep in mind that a lower score is better.
By these metrics, we can see that State Farm, USAA and American Family all offer strong levels of customer service. USAA is only available to active military, veterans and their select family members. If you don’t qualify for USAA, there are still plenty of other quality options to choose from.
It is also important to consider what type of customer service you are looking for in a company. If you want the ease of bundling your renters insurance with other types of insurance, consider a company that offers this service. If you want to manage your account from the comfort of your home, look for a company with a user-friendly website. If you would prefer to manage your account in person, check to see which companies have a physical office near your home.
Compare quotes from North Carolina's top renters insurance companies
Renters insurance quotes in North Carolina
Comparing renters insurance quotes will tell you what kind of coverage you can get, how much you will pay per month and how high your coverage limit will be. We recommend taking the time to look at several different quotes thoroughly. Two renters insurance policies may be similarly priced and offer similar coverage limits, but might in fact offer very different levels and types of coverage.
While comparing renters insurance quotes, be sure to pay attention to what exactly is covered under each policy. Typically, policies will cover a combination of personal property, personal liability, medical payments to others and loss of use. Take your time to investigate the specifics of each quote before making a final decision.
Typically, the coverage offered by renters insurance companies will be similar with regards to events such as fire, theft and water damage from burst pipes. However, tenants in North Carolina also have to consider natural disasters such as tornadoes and hurricanes. Damages from some natural disasters might not be covered under a standard policy. Consider upgrading your policy to be sure that you are covered in the event of a tornado, hurricane or other natural disaster.
Renters insurance laws and regulations in North Carolina
Renters insurance is regulated at the state level. In North Carolina, the North Carolina Department of Insurance is in charge of laws and regulations concerning the insurance industry. It offers protections for renters in North Carolina.
North Carolina does not legally require tenants to purchase renters insurance. However, your landlord might still require that you purchase a renters insurance policy under the terms of your lease. Regardless of whether it is required by your landlord, we highly recommend purchasing renters insurance to put your mind at ease for a low monthly cost.
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