The Cheapest North Carolina Renters Insurance Companies 2020
In North Carolina, the average cost of renters insurance is around $157 per year, according to the Insurance Information Institute (III). However, the cost of your premium depends on several factors, including the type of home you live in, the location, the value of your belongings, your deductible and even your credit score.
Before choosing a plan, consider how much coverage you’ll need. Take inventory of your belongings and their total estimated value. The higher the value, the more coverage you’ll need, and the higher your premium will be. Keep in mind that luxury items, like jewelry and art, aren’t always covered under basic renters insurance policies and may require a separate policy.
Best rental insurance companies in North Carolina
Finding the best North Carolina renters insurance company for you can be difficult because there are so many providers on the market. To make your shopping experience easier, we put together a list of the cheapest renters insurance in North Carolina, using J.D. Power’s 2019 U.S. Renters Insurance Study. These providers were ranked based on real customer reviews about coverage options, price, customer service and overall satisfaction, as noted in the table below.
- American Family: American Family was the top ranked renters insurance company in J.D. Power’s study, with perfect 5-star ratings across the board.
- State Farm: State Farm was the second runner-up in J.D. Power’s study, which was also ranked highly by customers in every category.
- AAA: AAA offers affordable renters insurance policies to North Carolina residents and provides a variety of coverage options to meet your specific needs.
- Eerie: Erie Insurance is well-known for it’s low cost policy offerings and exceptional customer service that makes claim filing fast and easy.
The renters insurance providers on our list all offer affordable premiums, a wide range of policy offerings and reliable customer service. However, each company is suited to a different type of renter.
Cheapest North Carolina renters insurance for renters without a claim: American Family
If you’re a renter who hasn’t filed a claim in the past five years, American Family might be the cheapest provider for you. The company offers discounts to customers who are claim-free for five years, which can help you save money on your annual premium.
Cheapest North Carolina renters insurance for high value items: State Farm
State Farm offers a wide variety of coverage options for their renters insurance policies, so it’s ideal for people who need coverage for expensive or luxury items. When getting a quote, you can enter the types of items you want to cover and see how much they affect the price of your premium.
Cheapest North Carolina renters insurance for high deductibles: State Farm
Electing for a higher deductible generally means you will pay less for your annual premium, but you’ll be required to pay more out-of-pocket if your personal items were to get damaged. Of the providers on our list, State Farm offered the lowest premiums for higher deductibles.
The four providers we evaluated received high marks from J.D. Power and several other prominent market research firms. Here is how American Family, State Farm, AAA and Erie are rated on similar ranking lists from AM Best and the Better Business Bureau (BBB).
|J.D Power||AM Best||BBB|
|American Family||5 out of 5||A||A|
|State Farm||5 out of 5||A++||A+|
|AAA||3 out of 5||A||A+|
|Eerie||3 out of 5||A+||A+|