How much is renters insurance in Cary, NC

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Renters insurance in Cary, costs $314 per year for $40,000 in personal property, $300,000 in liability and a $1,000 deductible, which is $52 less than the state average of $366 annually.

Your renters insurance premium could be higher or lower depending on the coverage and liability limits you select. Purchasing renters insurance is a good idea, as it helps protect your personal property from damage or loss due to events like fire, smoke, theft and vandalism.

Want to know who has the most affordable rates? Here are the most affordable renters insurance companies in Cary.

Key Takeaways

Renters insurance in Cary costs an average of $314 per year or $26 monthly.
North Carolina Farm Bureau offers the cheapest renters in Cary, with a monthly premium of $11.
Renters can save more on insurance by taking advantage of discounts, including those for having a security system or bundling policies.

What is the average cost of renters insurance per month in Cary?

The average monthly cost of renters insurance in Cary is $26, which is $5 less than the state average of $31. This rate is for a coverage limit of $40,000 in personal property, $300,000 in liability protection and a $1,000 deductible.

Renters insurance rates vary by city depending on the coverage and the insurance company you choose. For example, renters in Cary pay $14 monthly for $20,000 in personal property coverage with a $1,000 deductible. If you increase your personal property coverage to $40,000, the cost will rise by $12.

Higher coverage limits are recommended if you own valuable items like jewelry, furniture, and electronics.

How much is renters insurance in Cary by deductible?

Renters insurance in Cary costs an average of $202 per year for a $500 deductible and $20,000 in personal property coverage.

The deductible is the amount you pay before your insurance coverage applies. By increasing your deductible, you can lower your insurance premium. For instance, raising your deductible from $500 to $1,000 will save you $30 annually.

The table below shows renters insurance premiums for varying personal property coverage and deductible amounts.

Deductible	$20,000 personal property	$40,000 personal property	$60,000 personal property
$500	$202	$355	$487
$1,000	$172	$314	$430

Note: The liability protection coverage is $100,000.

Who offers cheap renters insurance in Cary?

Your search for affordable renters insurance ends here.

North Carolina Farm Bureau has the lowest rates in Cary, with an annual premium of $137 a year or $11 per month. Based on our data, State Farm and Allstate also offer cheap rates.

Below, you’ll find the average annual and monthly rates for cheap renters insurance companies in Cary.

Renter insurance provider	Average annual rate	Average per month rate
North Carolina Farm Bureau	$137	$11
State Farm	$208	$17
Allstate	$288	$24
Auto-Owners	$290	$24
Erie Insurance	$339	$28
Nationwide	$430	$36
Metropolitan	$570	$48
USAA*	$139	$12

*USAA is only available to military community members and their families.

Tips for reducing the cost of renters insurance

Here are some tips to help reduce renters insurance costs in Cary:

Bundle insurance policies. If you have other insurance policies, such as car insurance, consider bundling them with the same insurer. Many insurers offer discounts for bundling in Cary.

Increase deductible. Opting for a higher deductible can lower your premium in Cary, but make sure you’re comfortable with the amount you’d pay out-of-pocket in case of a claim.

Choose the right coverage. Review your policy regularly to ensure you don’t have extra coverage. For example, you might not need as much coverage for personal property if you don’t own many valuables.

Avoid small claims. Filing too many small claims can increase your rates over time. Consider paying for minor damages out-of-pocket instead of claiming them through insurance.

Shop around. Don’t settle for the first quote you receive. Compare renters insurance quotes in Cary from multiple providers to find the best price for the coverage you need.

Renters insurance in Cary, offers valuable protection for renters at an affordable price. While premiums can vary depending on location, coverage amount and individual circumstances, the peace of mind it provides is worth the investment. By understanding your coverage needs, comparing quotes and taking advantage of discounts, you can find an affordable policy that suits your budget.

Methodology

Insure.com, with the help of Quadrant Information Services, gathered data for renters insurance rates in Cary in 2023 for $40,000 personal property coverage, $300,000 liability coverage, and a $1,000 deductible. The data presented are those with a good credit tier alignment.

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Shivani Gite

Contributing Writer

Shivani Gite is a personal finance and insurance writer with a degree in journalism and mass communication. She is passionate about making insurance topics easy to understand for people and helping them make better financial decisions.