The Cheapest North Carolina Renters Insurance Companies 2020

If you’ve recently moved into a new rental property, it’s time to start thinking about purchasing renters insurance. Because North Carolina experiences hurricanes and other extreme weather, homes and apartments in the state are at an increased risk of damage or destruction—and so are your personal items. Although it’s not required, having renters insurance ensures that your personal belongings are protected from certain catastrophic events.

Find the Best Renters Insurance in North Carolina

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    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.

    In this article

      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.

       
      Overall satisfaction
      Policy offerings
      Price
      Customer service
      Billing
      American Family
      5 out of 5
      5 out of 5
      5 out of 5
      5 out of 5
      5 out of 5
      State Farm
      5 out of 5
      5 out of 5
      5 out of 5
      5 out of 5
      5 out of 5
      AAA
      3 out of 5
      5 out of 5
      5 out of 5
      3 out of 5
      3 out of 5
      Eerie
      3 out of 5
      3 out of 5
      5 out of 5
      5 out of 5
      3 out of 5

      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.

      Find the Best Renters Insurance in North Carolina

      Save money on renters insurance with our simple comparison tool.

      Matching you with providers.
      We found results in
      Click at least 2-3 companies to find the very best rate.

        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 PowerAM BestBBB
        American Family5 out of 5AA
        State Farm5 out of 5A++A+
        AAA3 out of 5AA+
        Eerie3 out of 5A+A+

        Frequently asked questions

        Renters insurance is not required in North Carolina. However, it’s still a good idea to have coverage. The amount of coverage you need depends on the value of your items and how much you are able to pay out-of-pocket to replace your items if they were to get damaged or destroyed.

        The best renters insurance company is different for everyone. Some companies are better for renters with a history of claims, while others are ideal for renters with a poor credit score. It’s important to shop around and get multiple quotes before choosing a provider.

        Renters insurance pays you to replace your personal belongings if they are damaged or destroyed by a covered peril, such as a fire, damage from extreme weather, theft or vandalism. Most policies will also pay for repairs if you accidentally damage someone else’s property.

        Many renters insurance companies—including the ones on our list—offer discounts that can lower your annual premium. Some common ways to save money include bundling your policies, having home safety features installed, setting up auto-pay, getting paperless bills, raising your deductible and improving your credit score.

        Methodology

        SimpleScore

        The SimpleScore is a proprietary scoring metric we use to objectively compare products and services at The Simple Dollar.
        For every review, our editorial team:

        • Identifies five measurable aspects to compare across each brand
        • Determines the rating criteria for each aspect score
        • Averages the five aspect scores to produce a single SimpleScore™

        Here’s a breakdown of the five aspect scores and their rating criteria for our renters insurance reviews. You can also review more detail on our Simplescore renter insurance methodology.

        Why do some brands have different SimpleScores on different pages?

        To ensure the SimpleScore is as helpful and accurate as possible, we developed unique criteria for every category we compare at The Simple Dollar. Since most brands offer a variety of financial solutions, their products and services will score differently depending on what we’re scoring on a given page.

        However, it’s also possible for the same product from the same brand to have multiple SimpleScores. For instance, if we compare State Farm’s home insurance according to our criteria for the best home insurance, it scores a 3.8 out of 5. But when we compare State Farm according to the criteria for the best auto insurance, it scores higher, since the features the company offers can vary by the type of insurance.

        Discounts

        We awarded higher scores to insurance providers with more discounts available on their website.

        Coverage Options

        We gave providers with more renter insurance coverage options a higher score because they’re more likely to have a policy that best meets your needs.

        Support

        We awarded higher scores to renters insurance providers with the most channels for customer support.

        Customer Satisfaction

        We leveraged the J.D. Power Home Insurance Satisfaction Study℠ to see how customers rated their experience with each insurance provider. (If a provider wasn’t included in J.D. Power’s study, we skipped this aspect and averaged the four remaining aspect scores.)

        Accessibility

        We awarded higher scores to insurance providers that have more online and mobile features to easily manage your policy and claims.

        Elizabeth Rivelli

        Contributing Writer

        Elizabeth is a contributor to The Simple Dollar, where she reviews insurance providers and policies. She has more than three years of experience writing for top online insurance and finance publications, including Bankrate, Coverage.com and Reviews.com.