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Renters insurance in Nashville, NC, costs $335 per year for $40,000 in personal property, $300,000 in liability and a $1,000 deductible, which is $31 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 Nashville.
Key Takeaways
- Renters insurance in Nashville costs an average of $335 per year or $28 monthly.
- North Carolina Farm Bureau offers the cheapest renters in Nashville, with a monthly premium of $13.
- 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 Nashville?
On average, renters in Nashville pay $28 per month for renters insurance, which is $3 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 Nashville varies depending on your insurance company and the coverage limit you buy. Renters in Nashville typically pay $15 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 $13 more in your monthly premium.
Choosing higher coverage limits is a good idea if you own valuable items like jewelry, electronics, or furniture.
How much is renters insurance in Nashville by deductible?
Renters insurance in Nashville costs $215 per year for a $500 deductible and $20,000 in personal property coverage.
Your deductible is the amount you agree to pay before your insurance coverage kicks in. If you increase your deductible limit, your insurance cost will go down. For instance, if the personal property coverage is the same (e.g., $20,000) but you increase your deductible limit from $500 to $1,000, you will pay $32 less every year for insurance.
Below are the renters insurance rates for different personal property coverage and deductible amounts.
| Deductible | $20,000 personal property | $40,000 personal property | $60,000 personal property |
|---|---|---|---|
| $500 | $215 | $378 | $518 |
| $1,000 | $183 | $335 | $457 |
Note: The liability protection coverage is $100,000.
Who offers cheap renters insurance in Nashville?
Your search for affordable renters insurance ends here.
North Carolina Farm Bureau has the lowest rates in Nashville, with an annual premium of $160 a year or $13 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 Nashville, NC.
| Renter insurance provider | Average annual rate | Average per month rate |
|---|---|---|
| North Carolina Farm Bureau | $160 | $13 |
| State Farm | $248 | $21 |
| Allstate | $287 | $24 |
| Auto-Owners | $311 | $26 |
| Erie Insurance | $391 | $33 |
| Nationwide | $443 | $37 |
| Metropolitan | $575 | $48 |
| USAA | $156 | $13 |
Tips for reducing the cost of renters insurance
Here are some tips to help reduce renters insurance costs in Nashville:
- 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 Nashville.
- Increase deductible. Opting for a higher deductible can lower your premium in Nashville, 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 Nashville from multiple providers to find the best price for the coverage you need.
Renters insurance in Nashville, NC, 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 Nashville 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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