North Carolina's Best Low-Cost Renters Insurance

Choosing the finest renters insurance requires determining which business offers inexpensive rates while also providing protective coverage and solid customer support. We gathered 125 estimates from addresses throughout North Carolina to assist you with your quest. The state's cheapest renters insurance is around $17 per month or $200 per year. Below, we highlight the best companies in the state and reveal the lowest renters insurance in North Carolina.

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State Farm provides the best renters insurance for the majority of consumers.

State Farm provides the best renters insurance in North Carolina for the majority of consumers. State Farm provides the lowest prices in the state on average. You may get coverage for roughly $12 per month, which is 28% less than the average cost of renters insurance in North Carolina.

State Farm renters insurance provides the same safeguards as many other organizations, so you won't have to sacrifice coverage for the price. However, there aren't many methods to boost your renters' insurance coverage using add-ons, also known as endorsements: You can enhance your coverage for personal liability and special property.

What State Farm lacks in terms of a comprehensive set of supplementary features, it makes up for with its highly respected customer care. According to J.D. Power, State Farm's service rates third among big, nationwide suppliers. Furthermore, according to the National Association of Insurance Commissioners (NAIC), State Farm receives barely one-third of the complaints expected for a company of its size.

Amica is the best renters insurance provider for comprehensive coverage.

Amica is the best renters insurance for those who want to supplement the coverage provided by a regular policy. In comparison to the other providers we looked at, Amica offers more optional coverage to supplement its standard policy. Amica allows you to purchase:

• Replacement-cost coverage compensates you for the complete worth of your lost goods, without taking into account depreciation.

• Water backup/sump pump coverage: If your sump pump or drainage system fails and causes water damage to your house, your policy may pay up to $25,000.

• Personal property that has been extended: Special property, including jewels, guns, and high-value goods, can be added to your policy.

• Electronic breakdown protection: Protects your laptop, cameras, and cell phone against a broader range of threats, such as internal malfunction and electrical breakdowns.

Amica's regular insurance provides adequate coverage for the majority of customers. Amica costs roughly $15 per month, or $181 per year, which is 10% less than the average cost of renters insurance in North Carolina. While Amica's basic policies are reasonably priced, buying additional forms of coverage would raise your premiums, possibly above the state average.

Amica's service is usually regarded favourably. Amica receives much fewer complaints than its small size might imply. It receives roughly one-fifth of the complaints expected for its market share. Amica was not included in J.D. Amica's client engagement and claims administration were rated the best in the country in the company's homeowners insurance evaluation by J.D. Power.

Allstate is the best option for elderly tenants.

Allstate insurance is a good option for older renters. If you're a retiree over the age of 55, you might save up to 25% on your premium. When combined with the discount given to Allstate vehicle insurance clients, you could notice significant savings on the cost of coverage.

Allstate's discounts are not all based on age. In addition to the retirement benefit, you might save up to 15% if your home is equipped with safety features such as smoke alarms, burglar alarms, or a security system. You may also be eligible for a reduction if you choose to pay your premiums automatically and remain claim-free for several years.

Allstate is somewhat less expensive than the national average in North Carolina. Renters insurance typically costs around $16 per month or $195 per year. This is only 3% less expensive than the average, but with discounts, it may be slightly more affordable. If you don't qualify for any discounts, you might want to look into another excellent supplier.

Allstate is somewhat less expensive than the national average in North Carolina. Renters insurance typically costs around $16 per month or $195 per year. This is only 3% less expensive than the average, but with discounts, it may be slightly more affordable. If you don't qualify for any discounts, you might want to look into another excellent supplier.

How we choose the finest renters insurance in North Carolina

Our assessment of North Carolina renters insurance is based on a three-factor analysis of each firm. They are as follows:

• Affordability: The renters' insurance rates that are likely to be charged.

• Coverage options: The base coverage and add-ons provided by insurance.

• Customer service: An insurer's reputation for addressing the needs of its policyholders.

Affordability is determined by comparing the prices of coverage offered by the state's insurers.

The average cost of renters insurance in North Carolina is roughly $17 per month, or $200 per year, according to our research. This is slightly higher than the monthly cost of renters insurance in the United States, which we determined to be roughly $16.

State Farm has the cheapest renters insurance in North Carolina, while Liberty Mutual is the most expensive.

Where can you obtain low-cost renters insurance in North Carolina?

The rate you're quoted is determined by numerous factors, the most important of which is the quantity of coverage you choose to purchase. Rates were gathered for the following coverage limits:

• $30,000 in personal property coverage

• $100,000 in personal liability insurance

• Other people's medical expenses: $1,000

• $500 is the deductible.

Aside from your coverage choices, the cost of your policy is heavily influenced by your age, location, marital status, and history of claims. Our figures are based on a 30-year-old single tenant with no pets and no history of filing claims.

Coverage options: Considering the basic and supplemental forms of coverage provided by each insurer.

While renters insurance is not needed, it is a simple way to safeguard your property and assets in the event of a loss. Because you won't have to worry about purchasing adequate coverage to fulfill any laws, you should instead concentrate on maximizing the value of your policy after you've decided to get one.

To make it easier to compare renters insurance companies, we have outlined the coverage provided by each provider in the table below.

Customer service: Compiling insurers' reputations for customer service

To investigate the customer service reputations of the best renters insurance companies in North Carolina, we looked at three metrics: each company's NAIC Complaint Index; the overall satisfaction rating calculated by J.D. Power's Homeowners Insurance Study - Renters Insurance; and A.M. Best's Financial Strength Rating (FSR).

• NAIC Complaint Index: The Complaint Index is calculated by the National Association of Insurance Commissioners and measures the number of complaints received by an insurer. This figure is given in relation to the market share or size of each insurer. Because 1.0 represents the average number of complaints, a Complaint Index of 2.0 indicates that a provider receives twice as many complaints as expected.

• J.D. Power's Home Insurance Study in the United States - Renters Insurance: This research rates 14 of the nation's largest renters insurance firms in terms of overall customer satisfaction. J.D. Power's composite rankings consider policyholder comments on customer service, claims offerings and pricing, and other factors.

• A.M. Best Financial Strength Rating: The Financial Strength Rating of an insurer anticipates its capacity to pay out claims and satisfy other financial obligations in the event of an economic downturn or calamity demanding large payouts. Most organizations are highly rated by A.M. Best, making it easier to detect problematic providers.

Renters insurance premiums in North Carolina: A city-by-city breakdown

We computed the average cost of coverage in the state's major cities using our findings. Then we compared each large city's average rate to the state's average to see how they stacked up.

Renters insurance in North Carolina is normally most expensive in Fayetteville, with the cheapest policies in Hickory.