Finding the Best Renters Insurance in South Carolina

Renting a home or apartment comes with risks of personal property damage or liability for accidents. Having renters insurance provides important financial protection. But with many insurance companies to choose from, it can be a challenge picking the right policy in South Carolina.

This guide will walk through how to find and compare the best renters insurance options for your needs in South Carolina.

Overview of Renters Insurance

Renters insurance has three primary coverages:

• Personal property – Pays to repair or replace your belongings if damaged, stolen, or destroyed.

• Liability – Covers injuries to others or damage you cause to the property of others.

• Additional living expenses – Provides funds for temporary housing if you can’t live in your rental due to a covered loss.

Additional options like medical payments coverage or scheduled item coverage for valuable items may also be available.

When choosing limits, make sure you have enough coverage to replace all your personal belongings. Liability of at least $100,000 is also recommended.

Average Cost of Renters Insurance in South Carolina

Renters insurance costs vary based on location, amount of coverage and other factors. Statewide average annual premiums are:

• South Carolina: $166
• National Average: $179

So South Carolina is slightly below the national average cost for renters insurance. Of course, your individual quotes may be higher or lower.

Major Factors That Impact Your Rates

Insurance companies set your renters insurance premium based on:

• Location – Urban areas cost more than rural zones
• Age – Rates are higher for younger renters
• Credit score – Better credit leads to lower premiums
• Claims history – Prior renters insurance claims will increase your rates
• Coverage limits – Higher coverage for property or liability raises rates
• Deductible – Choosing a lower deductible increases your premium

Improving things like your credit score and choosing a higher deductible can potentially save you hundreds per year.

Best Renters Insurance Companies in South Carolina

After extensive research, we ranked these renters insurance providers as the best options for South Carolina:

• Lemonade – Best for a fast digital experience
• USAA – Best rates for military members
• Allstate – Best choice for renters over 55
• Auto-Owners – Best for bundling renters with other policies
• State Farm – Most widespread agent availability

Be sure to compare quotes from several companies to find the best rate for your situation.

How to Save Money on Your Policy

To get the lowest renters insurance premium possible:

• Raise deductibles – Increasing from $500 to $1000 can lower rates 25% or more. Just be sure you have savings to cover the higher deductible amount if you ever need to file a claim.

• Bundle policies – Having renters with the same company as your auto or life insurance can save up to 15%.

• Improve credit – Maintaining excellent credit saves you the most, but even minor improvements help lower premiums.

• Add security system – Having a monitored security system, especially in urban areas, can reduce rates 5-15%.

• Seek discounts – Take advantage of any multi-policy, safety feature, loyalty, or claims-free discounts from your insurer.

Work With a Local Independent Agent

Using an independent insurance agent to buy renters insurance provides great benefits:

• They shop multiple top insurers to find you the best rate.

• They explain important coverages and exclusions.

• They provide ongoing policy support and guidance.

For example, finding an Allstate, State Farm, or Nationwide agent gives you access to a trusted advisor plus strong national insurance carriers.

How to Get Renters Insurance Quotes

Getting renters insurance quotes from top insurers only takes a few minutes. You’ll need to provide details like:

• Your age, marital status, and occupation
• The address of the rental property
• Your desired coverage types and limits
• Amount of personal property coverage needed

Shopping around with multiple carriers ensures you find an affordable premium and great coverage. Comparing quotes is fast and easy with our online quote tool. Just enter your zip code now to get matched with top local agents.

Frequently Asked Questions

What does renters insurance cover?

Typical renters insurance covers your personal belongings against theft, damage, or destruction. It also provides liability coverage and additional living expenses if you can’t stay in your rental.

How much renters insurance do I need?

A renters policy should cover the full replacement value of all your personal property. Liability limits of $100,000 are also recommended.

Does renters insurance cover water damage?

It depends on the cause. Sudden water damage from things like storms or pipe bursts is generally covered. But gradual damage from leaks or flooding may have limited or no coverage.

Can my landlord make me get renters insurance?

Yes, most standard lease agreements allow landlords to require you carry a minimum amount of renters insurance coverage.

Who has the cheapest renters insurance?

Rates from top insurers can vary quite a bit based on your location and individual factors. Getting quotes from several companies ensures you find the lowest price.

Find the Best Renters Insurance Rates