Best Renters Insurance in NC: Renters Insurance in North Carolina 2021

Last modified: September 15, 2021

Being a tenant takes the repair, maintenance, and property insurance responsibilities off your shoulders. Still, you need to have tenant’s insurance to get coverage for your personal belongings in case of theft or natural disaster. 

Finding good renters insurance that doesn’t cost you a fortune can be quite challenging. But, this shouldn’t hold you back from getting an insurance policy for your valuables that your landlord’s insurance doesn’t cover. If you live in North Carolina, we’ve picked out some good options for you.

In this article about renters insurance in NC, we will provide you a list of the best renters insurance in NC along with answering some of the most frequently asked questions about renters policy in North Carolina and renters insurance in NC. If you are looking for affordable renters insurance outside of North Carolina – make sure to check out our list of best renters insurance providers in the US.

Our Methodology

When doing our research on NC renters insurance companies, we adopted a comprehensive approach. We took into account the coverage options they provide, value for money, their ratings on various platforms, and the quality of their customer support. 

Our goal was to find the best companies for cheap renters insurance in NC with the following basic coverage options:

  • Personal property coverage
  • Liability coverage 
  • Medical payment coverage
  • Additional living expenses coverage

We also took into account the premium each company charges for various coverage options and deductibles for each renters policy. We used the following metrics to generate renters insurance quotes in North Carolina to help our readers find the best renters insurance in NC:

  • Personal property coverage – $20,000
  • Liability coverage – $100,000
  • Medical payment coverage – $1,000
  • Deductible – $500
  • Loss of Use – $0

Best Companies for Renters Insurance in North Carolina

Here is the list of best renters insurance companies in North Carolina that we have put together for NC residents after in-depth research, analysis, and comparison. If you are looking for renters insurance outside of NC, make sure to check our list of best renters insurance companies nationwide.

Take a look to find the best renters insurance in North Carolina:

AAA

American Automobile Association (AAA) is one of the cheapest renters insurance in North Carolina. Let’s see what the company has to offer:

Coverage Details

A standard AAA renters insurance in North Carolina includes the following coverages:

  • Personal property – $10,000 to $100,000
  • Liability – $100,000 to $500,000
  • Medical payments for guests – $1,000 to $5,0000
  • Loss of use – 20% of personal property

AAA renters insurance in NC offers $500, $1,000, and $2,500 options for deductible.

Optional Coverages

American Automobile Association provides renters in North Carolina with several additional coverage options. You can take advantage of one of the cheapest renters insurance in NC and buy more comprehensive renters insurance. AAA provides you the following additional coverage options:

  • Bodily injury
  • Scheduled personal property
  • Refrigerated personal property
  • Identity fraud expense
  • Accidental death
  • Limited water backup
Financial Strength and Customer Support Ratings
    • NAIC – 1.78

    • JD Power – 3.3/5 

    • AM – A+

  • BBB – F

Cost Per Month

A standard AAA renters insurance, NC, costs anywhere between $15 and $30 per month with AAA membership

Pros and Cons

Here are some of the major pros and cons of AAA renters insurance, North Carolina, to help you figure out if this is the right renters insurance in NC for you:

Pros

  • A reliable name in the industry – with over 100 years of experience
  • Good discount for AAA members 
  • Offers discounts for having protective and fire-resistant  devices installed, renovated homes, and age of home
  • Provides unique additional coverage options

Cons

  • Policyholders need to pay an additional membership fee to get the discount on renters insurance 
  • Poor rating on Better Business Bureau

USAA

USAA has long been known as one of the best insurance companies for military personnel, both current and former, and their families. Let’s take a look at what they have to offer for renters insurance in NC:

Coverage Details

A typical USAA renters insurance includes:

  • Personal property coverage – $25,000 to $750,000
  • Liability coverage – $100,000, $300,000, $500,000, and $1,000,000
  • Medical payments for others (guests) – $5,000

Deductible options for USAA renters insurance are $250, $500, $1,000, and $2,500.

Optional Coverages

USAA allows the buyers of North Carolina renters insurance to get additional personal property coverage for valuable items, including tablets and computers.

Financial Strength and Customer Support Ratings
  • NAIC 1.81

  • JD Power – 4.5/5

  • AM Best – A++

  • BBB – B+

Cost Per Month

The monthly installment of USAA renters insurance can begin from as low as $10 per month, making it an excellent option for those looking for cheap renters insurance in North Carolina.

Pros and Cons

Here are some of the key pros and cons of USAA renters insurance in North Carolina:

Pros

  • Customers have the choice to opt-out of personal property and personal liability coverage in a standard renters insurance policy
  • Earthquake and floods insurance is included in the standard renters insurance
  • Members of USAA get additional benefits, such as travel deal and discounts on car rental

Cons

  • Only available to military personnel and their families
  • Does not allow you to customize medical payments for other coverage options

 

North Carolina Farm Bureau 

North Carolina Farm Bureau is a part of the Farm Bureau group of companies dedicated to providing coverage options to farmers and rural communities in North Carolina. 

Coverage Details

NC Farm Bureau renters insurance covers the following:

  • Personal property
  • Replacement cost 
  • Actual cash value
  • Loss of use
  • Medical expenses for other people

 

Optional Coverages

NC Farm Bureau allows you to buy additional, comprehensive coverage for expensive personal belongings and valuables.

Financial Strength and Customer Support Ratings
    • NAIC – Not rated

    • JD Power – Not rated

    • AM Best –A

  • BBB –A+

 

Cost Per Month

Renters insurance offered by North Carolina Farm Bureau starts from as low as $11 per month.

Pros and Cons

Take a look at some major pros and cons of NC Farm Bureau renters insurance to figure out if it is the right option for you:

Pros

  • Offers good discounts, such as loyalty discount, multi-policy discount, and paperless discount
  • Transparent pricing
  • Provides flexible billing options
  • Attractive discounts for membership holders

Cons

  • Only caters to farmers and rural communities

 

State Farm

State Farm is a leading name in the insurance industry. The company offers renters insurance to guard North Carolina residents against damages and accidents, extreme weather, and malicious actions like theft, riots, and vandalism. 

Coverage Details

Renters insurance provided by State Farm to North Carolina residents include coverage for:

  • Personal property – No limit
  • Liability – $100,000, $300,000, $400,000, $500,000, $750,000, and $1,000,000
  • Loss of use – No limit
  • Medical payments for guests – $1,000 to $5,000

Deductible options for State Farm renters insurance in NC include $500, $1,000, and $2,000.

Optional Coverages

State Farm offers a wide range of additional coverage options to tenants in North Carolina. These include coverage for:

  • Earthquake damage
  • Waterbed
  • Computer
  • Jewelry
  • Identity restoration 
  • Additional liability coverage
  • Incidental business liability 
  • Additional business property
Financial Strength and Customer Support Ratings
  • NAIC 1.28

  • JD Power  – 5/5

  • AM Best  – A++

  • BBB  – Not rated

Cost Per Month

Known for offering cheap premiums, the average monthly cost of State Farm renters insurance, NC, is about $12.

Pros and Cons

Major pros and cons of State Farm renters insurance, NC, include:

Pros

  • Doesn’t have a limit on personal property and liability coverage
  • Offers a wide range of additional coverage options 
  • Low premiums

Cons

  • Standard renters insurance doesn’t cover damages caused by earthquakes, landslides, water damage, and damage caused to the roof, siding, or building. 
  • Offers limited discount options
  • Doesn’t offer 24/7 customer support

 

Safeco

Safeco is another reliable name in the North Carolina renters insurance industry. The company has provided insurance to U.S. residents since 1923 and has a wide network of agents. 

Coverage Details

Standard Safeco renters insurance includes coverage for:

  • Personal property
  • Liability
  • Living expenses
  • Medical payments for guests
Optional Coverages
  • Valuable items
  • Identity recovery
  • Personal property replacement cost protection 
Financial Strength and Customer Support Ratings
  • NAIC 1.12

  • JD Power  – 3/5

  • AM Best  – A

  • BBB  – A+

Cost Per Month

While the exact cost of Safeco renters insurance varies across users since it depends on multiple factors, you can expect to pay about $14 per month, on average.

Pros 
  • Several discount offers
  • Strong financial ratings
  • Widespread availability
Cons 
  • Doesn’t allow tenants to buy insurance online
  • Poor customer service 

 

Amica

Amica is one of the best renters insurance in NC for those looking to get comprehensive coverage under a standard renters insurance policy. Let’s take a look at its basic features:

Coverage Details

A standard renters insurance policy of Amica include the following coverages:

  • Personal property – No limit
  • Personal liability – $25,000 to $1,000,000
  • Medical payments to others – $1,000 to $5,000
  • Loss of use – 20% of personal property coverage

Amica also provides its customers five options for deductible – $100, $250, $500, $1,000, $2,500.

Optional Coverages

Amica allows you to buy additional coverage for:

  • Personal property replacement
  • Schedules personal property
  • Identity fraud
  • Computers and smart devices
Financial Strength and Customer Support Ratings
    • NAIC 1.41

    • JD Power  – N/A

    • AM Best  – A+

  • BBB  – A+

 

Cost Per Month

The average cost of Amica’s renters insurance is about $13 per month, which is about 10% lower than the average per month cost of renters insurance in NC. This makes Amica a great option for tenants looking for cheap renters insurance in North Carolina.

Pros 
  • No limit on personal property coverage
  • Provides a good range of discount options
  • Offers low deductibles 
  • The average monthly cost is lower than the state average
 Cons
  • Additional coverages can increase the cost significantly 

 

Allstate

Allstate renters insurance in North Carolina includes:

Coverage Details
  • Personal property coverage – from $25,000 up to $150,000
  • Liability coverage – $100,000, $200,000, $300,000, and $500,000
  • Loss of use – No limit
  • Medical payments for guests – $1,000 to $5,000

Allstate offers deductible options of $250, $500, and $1,000.

Optional Coverages

With Allstate renters insurance in NC, you can include the following additional coverages in your standard policy:

  • Scheduled personal property
  • Extended coverage for expensive items, like watches, jewelry, and furs
  • Identity theft restoration
  • Increased coverage on business property
  • Flood insurance 
  • Personal umbrella policy (PUP)
Financial Strength and Customer Support Ratings
    • NAIC 2.02

    • JD Power  – 2/5

    • AM Best  – A+

  • BBB  – A+

Cost Per Month

The average cost of Allstate renters insurance per month is $16.

Pros 
  • Affordable 
  • Retired tenants who are 55 or older can get up to 22% off on the premium
  • People with safety equipment installed in their homes can get up to 15% discount 
  • Allows choose between Replacement Cash Value and Actual Cash Value in Personal Property Coverage
  • Offers a good amount of additional coverage options
 Cons
  • Poor customer satisfaction rating 

List of Major North Carolina Cities and Their Average Insurance Costs

City Average Annual Price
Charlotte $160
Raleigh $144
Greensboro $150
Winston-Salem $150
Durham  $144

The average cost of renters insurance in Charlotte, NC is the highest in the state, whereas the cost of renters insurance in Raleigh, NC, and Durham, NC is the cheapest.

Best Renters Insurance, NC – Buying Guide

When it comes to renters insurance in NC, one of the most frequently asked questions is – Does North Carolina require renters insurance

No. The state law of North Carolina doesn’t require tenants to have renters insurance. That said, many landlords have made it mandatory for people willing to rent their properties to have valid renters insurance. 

Whether your landlord requires you to buy renters insurance or not, it’s only wise to have it because your landlord’s home insurance doesn’t offer coverage for any damage to your personal belongings due to natural disasters, vandalism, water damage, and other such unfortunate incidents. 

Most renters insurance in NC provides coverage for personal property, personal liability, and loss of use. Many insurance providers also offer coverage for medical payments to others as part of their standard renters insurance policies. Additional renters insurance North Carolina coverage options are typically available for expensive valuables and extended personal property.

Tips for Saving on Renters Insurance in North Carolina 

While the average cost of renters insurance in NC is already lower than the national average, you can reduce the cost even further by following these tips:

  • Take quotes from multiple insurance providers and compare them. 
  • Look for bundle offers – many companies provide additional discounts on the purchase of multiple policies, such as renters and car insurance. 
  • If you’re a retiree, look for a company that offers perks for retirees.
  • Consider buying an insurance company’s membership – many insurance companies in NC offer additional discounts to their members.
Wondering how much is renters insurance in NC?

The average annual cost of standard renters insurance in NC is $175, which is $9 less than the U.S. average.

In Conclusion

There you have it now – a list of the companies known for providing the best renters insurance in NC along with the essential details of their standard renters insurance policies that will help you find the best renters insurance in NC. Take a look at all of them and compare their offerings to make the right choice.

Pros & Cons

The Pros

The Cons

Final Verdict

FAQs

Is renters insurance mandatory in North Carolina?

No, renters insurance isn’t required by the state law of North Carolina. However, many landlords make it mandatory for their tenants to buy renters insurance.

How much is renters insurance in North Carolina?

The average cost of renters insurance in North Carolina is $175 per year.

What are the renter insurance laws in North Carolina?

The state law of North Carolina doesn’t require tenants to have renters insurance.

Is flood and wind damage covered under renters insurance in North Carolina?

Most standard renters insurance policies in North Carolina include coverage for damages caused by wind. But you have to buy additional coverage for flood damage.

Does North Carolina renters insurance cover liability outside the house?

Most renters insurance in NC provides liability coverage for damages outside the house, like the ones caused by you to a neighbor’s property. 

Can a landlord require renters insurance in North Carolina?

Yes, a landlord can make it essential for its tenant to have renters insurance in North Carolina.