How much is renters insurance in Charlotte, NC

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In Charlotte, NC, the average cost of renters insurance is $316 annually for $40,000 in personal property, $300,000 in liability and a $1,000 deductible. It is $50 less than the state average of $366 per year.

Renters insurance costs may differ depending on the coverage you opt for and the amount of liability coverage included in your policy. If you’re living in a rental property, it’s worth considering this type of insurance to protect your belongings from damages caused by fire, smoke, theft, vandalism and other covered events.

We conducted an in-depth analysis of insurance companies to find the most affordable insurers for renters in Charlotte. Continue reading to know the cheapest renters insurance companies in Charlotte.

Key Takeaways

The average cost of renters insurance in Charlotte is $316 annually or $26 monthly.
The cheapest option for renters in Charlotte is North Carolina Farm Bureau, offering coverage at $13 per month.
Renters can reduce their insurance costs by taking advantage of discounts, such as discounts for installing a security system or bundling policies.

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

On average, renters in Charlotte pay $26 per month for renters insurance, which is $5 less than the state average of $31. The policy includes $40,000 in personal property, $300,000 in liability protection and a $1,000 deductible.

The cost of renters insurance in Charlotte varies depending on your carrier and the coverage limit you select. Renters in Charlotte typically pay $14 monthly for $20,000 in personal property coverage and a $1,000 deductible. If you decide to increase your coverage to $40,000, you’ll see an increase of $12 more in your monthly premium.

You’ll need to decide on the coverage that best fits your needs and budget. However, choosing higher coverage limits is a good idea if you own valuable items like jewelry, electronics, or furniture.

How much is renters insurance in Charlotte by deductible?

Renters insurance in Charlotte costs an average of $203 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	$203	$357	$488
$1,000	$173	$316	$431

Read our guide to know what does renters insurance cover.

Who offers cheap renters insurance in Charlotte?

Your search for the cheapest renters insurance company ends here.

North Carolina Farm Bureau offers the cheapest renters insurance in Charlotte at $151 a year or $13 per month. According to Insure.com’s data analysis, State Farm ranks second on our list followed by Auto-Owners.

Our experts at Insure.com evaluated renters insurance quotes from all the big and small insurance companies in Charlotte and put together a list of the most affordable insurance carriers.

Below are the average annual and monthly rates of the cheap renters insurance companies in Charlotte, NC.

Renter insurance provider	Average annual rate	Average per month rate
North Carolina Farm Bureau	$151	$13
State Farm	$240	$20
Auto-Owners	$245	$20
Allstate	$272	$23
Erie Insurance	$355	$30
Nationwide	$444	$37
Metropolitan	$532	$44
USAA	$160	$13

Tips for lowering the cost of renters insurance

Follow these tips to reduce the cost of your renters insurance in Charlotte:

Bundle policies: If you have other insurance policies, such as car insurance, consider bundling them with the same company. Many insurers in Charlotte provide discounts for bundled policies.

Increase your deductible: Opting for a higher deductible can lower your premium in Charlotte, but make sure you’re comfortable with the potential out-of-pocket costs if you file a claim.

Choose the right coverage amount: Review your renters insurance policy regularly to ensure you aren’t paying for unnecessary coverage, such as excess personal property coverage if you don’t own many valuables.

Avoid filing too many claims: Filing frequent small claims can increase your rates. It might be worth paying for minor damages out-of-pocket instead of using your insurance.

Compare quotes: Don’t accept the first quote you get. Shop around and compare renters insurance rates from different insurers in Charlotte to find the best deal.

Final thoughts

Renters in Charlotte, NC should purchase renters insurance to protect their personal belongings, provide liability coverage, and cover additional living expenses if their rental becomes uninhabitable due to a covered event. Premiums may differ based on location, coverage amount and individual circumstances, but the peace of mind it offers is worth the investment. You can get an affordable policy that fits your budget by assessing your coverage needs, comparing quotes and taking advantage of available discounts.

Methodology

Insure.com, with the help of Quadrant Information Services, gathered data for renters insurance rates in Charlotte 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.