If you're renting a home or apartment in South Carolina, you're not required by state law to carry renters insurance. However, landlords often require it as part of a lending agreement.
A renters insurance policy provides liability coverage, covers your belongings and helps with extra costs that arise if you need to relocate temporarily.
In this article
The cost of renters insurance in South Carolina
The average cost of renters insurance in South Carolina is $220 a year, or $18 a month. Greer has the cheapest average rate among South Carolina's biggest cities at $194 a year.
| City | Average annual rate |
|---|---|
| Greer | $194 |
| Greenville | $199 |
| Rock Hill | $201 |
| Columbia | $204 |
| Sumter | $219 |
| Summerville | $243 |
| Goose Creek | $244 |
| North Charleston | $266 |
| Charleston | $278 |
| Mount Pleasant | $294 |
| Note: Average rates are based on online quotes. Your rates may vary. | |
Renters insurance companies in South Carolina
The offerings in a renters insurance policy are often the same from provider to provider. So, it's best to compare insurance companies based on price and customer service ratings or reputations.
Comparing renters insurance policy prices is the easy part. Finding which provider has the best customer satisfaction can take a little more work. Your best bet is to reference the most recent J.D. Power overall satisfaction study as well as the NAIC Complaint Index of the biggest renters insurance companies in South Carolina.
J.D. Power publishes an annual report ranking the overall satisfaction that policyholders have with their insurers. This report is based on factors like policy offerings, cost and claim resolution. Insurers are ranked on a scale of one to 1,000, with a current average score of 841. The higher the score, the better.
The NAIC Complaint Index ranks renters insurance providers based on the number of complaints they receive in comparison to the insurer's size. The National Complaint Index is 1.0. The lower the index value, the better.
The following table shows the overall satisfaction ratings and Complaint Index values of major renters insurance providers.
| Company | 2022 J.D. Power overall satisfaction score | 2023 NAIC Complaint Index |
|---|---|---|
| Allstate | 837 | 0.5 |
| Amica | - | 0.1 |
| State Farm | 836 | 0.08 |
| Travelers | 801 | - |
What does renters insurance cover in South Carolina?
Renters insurance covers your belongings against damage, liability expenses if you're responsible for injury or property damage as well as extra relocation costs if you need to move while your rental home is repaired.
Personal property
The personal property section of your renters insurance covers your belongings if they're damaged or destroyed by a covered peril. These include:
- Furniture
- Clothing
- Electronics
Some expensive items like jewelry, art or other valuables may also be covered, but they might have a lower limit than your policy's standard personal property limit. When comparing quotes from different renters insurance companies, ask agents if there are separate limits for personal property coverage.
See how much you could save with a new renters insurance policy
Also, when setting your personal property limit, don't over- or under-insure your belongings. The best way to avoid this is to compile a home inventory list. Include as much information about your belongings, like serial numbers and purchase costs, as you can. This will help you accurately assess how much coverage you need to buy. It may also speed up the claim process if you ever need to file one.
Personal liability
If you are responsible for causing injury or property damage to someone else, the personal liability section of your renters insurance policy covers legal fees and settlement costs that may arise. Most renters insurance policies have a default personal liability limit of $100,000, but it can usually be increased.
Medical payments
This section takes care of medical expenses if you're responsible for another person's injuries. Medical payments coverage limits typically range from $1,000 to $5,000.
Additional living expenses
Also referred to as "loss of use," additional living expenses (ALE) covers extra costs that may arise due to relocation while repairs to your rental home are made. ALE covers additional costs such as:
- Restaurant meals
- Rent
- Extra commute costs
- Storage
- Furniture rental
- Laundry
The limit for ALE is usually 30% of your personal property limit. This means if you have a personal property limit of $50,000, you would have an ALE limit of $15,000.
This may not seem like a lot, especially for an extended relocation, but keep in mind it's only to cover expenses above your average cost of living. For example, if your regular food budget is $500 a month, and restaurant meals while you're relocated raise that to $750 a month, ALE covers the additional $250.
How to get a renters insurance policy in South Carolina
Your landlord will probably require you to show proof of renters insurance as part of your rental agreement. Compare quotes, policy options and customer satisfaction scores from multiple companies before you buy a policy. The more quotes you look at side by side, the better the chances of finding the best combo of cost and coverage.
When you've found your best choice, go to the insurer's website. Have your personal information and coverage limits on hand. If you have any questions, speak to an agent. They can also help you set up the policy and the starting date of coverage.
Methodology
Quotes use the following coverage limits:
- $30,000 personal property
- Loss of use: 30%
- $500 deductible
- $100,000 personal liability
- $1,000 medical payments
QuoteWizard.com LLC has made every effort to ensure that the information on this site is correct, but we cannot guarantee that it is free of inaccuracies, errors, or omissions. All content and services provided on or through this site are provided "as is" and "as available" for use. QuoteWizard.com LLC makes no representations or warranties of any kind, express or implied, as to the operation of this site or to the information, content, materials, or products included on this site. You expressly agree that your use of this site is at your sole risk.