Average Cost of Renters Insurance in South Carolina
On average, renters insurance costs $16 a month or $188 a year in South Carolina, slightly above the national average of $180 per year. However, for lower coverage amounts, rates can start as cheap as $12 per month depending on what type of coverage you are looking for.
|Coverage amount||Average cost per month||Average cost per year|
|South Carolina average||$16||$188|
|Source: National Association of Insurance Commissioners (2019)|
Renters insurance is one of the cheapest types of insurances out there. The cost of renters insurance typically increases the higher the amount of coverage goes. For example, going from $14,000 of coverage to $44,000 of coverage only costs $5 more per month. Increasing your coverage is all about peace of mind. And luckily with renters insurance, your peace of mind comes at an affordable price!
SC renters can find renters insurance for as little as $12 a month.
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South Carolina renters insurance companies
South Carolina has many renters insurance companies to choose from. Price and coverage will vary slightly between companies, so it is important to compare quotes from multiple companies to see the differences.
Another important factor to consider is customer service. QuoteWizard uses two ratings systems to compare renters insurance companies’ customer satisfaction. Here are some of the best renters insurance companies in South Carolina to choose from:
|Company||2019 J.D. Power overall satisfaction||2019 NAIC Complaint Index (lower is better)|
|SC Farm Bureau||—||0.00|
Based on these ratings, USAA, State Farm, and American Family have the strongest customer service scores in South Carolina. Although customer service is of the utmost importance, here are some questions to consider when finding the right fit:
- Do they offer discounts you can take advantage of, like bundling?
- Do you want a dedicated agent?
- Do you prefer speaking face to face, strictly over the phone, or online?
- Do they have offices nearby in case you would like to speak face to face?
Finding the right fit is a balancing act for each person. There is no single best renters insurance company or policy for everyone. However, looking into companies with a proven history of providing excellent service is a great place to start. The goal is to have confidence that if an accident does occur, your renters insurance company will be there when it matters most! With QuoteWizard, you have the ability to compare thousands of potential companies to see which plan best suits your needs.
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Renters insurance quotes in South Carolina
We cannot stress enough the importance of comparing quotes. For the most part, coverage is consistent across companies, however, costs can vary substantially because companies all calculate their risk differently. Getting multiple quotes is one of the best tools at your disposal to find which company best suits your needs at the price point you feel most comfortable with.
There are many factors renters insurance companies consider when when quoting a rate. Your rates will vary depending on your coverage limits and the value of your belongings. A renters policy covers your belongings from fire or smoke damage, theft, wind damage, vandalism, and a collection of other misfortunes.
Renters insurance quotes should outline your coverage limits, usually for four coverages: personal property, personal liability, medical payments to others and loss of use. It’s important to make sure there aren’t substantial coverage exclusions in your quote. Many insurers also allow you to customize the quote, like adding discounts or riders.
Consider discounts when looking at renters insurance quotes
Typically, most renters insurance companies have discounts available. When receiving quotes from companies, ask which discounts are available that could lead to cheaper renters insurance. Below are examples of discounts that insurers typically offer:
- Bundling policies
- Automatic payments
- Fire and burglary alarms
- Claims-free history
- Living in a gated community
- Reinforced windows
Companies are competing for your business, so it never hurts to ask the insurance agent what types of discounts are at your disposal.
Renters insurance laws in South Carolina
There is no federal law that requires tenants to carry renters insurance; however, some landlords may require proof of renters insurance as part of the lease agreement.
Your landlord probably has an insurance policy that covers your home’s structure, but landlord insurance does not cover your belongings. That’s why we recommend that all tenants have their own renters insurance policy.
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