Renters insurance is a type of insurance that covers your personal belongings, liability, and additional living expenses if you rent a home or apartment.
Renters insurance is not required by law in South Carolina, but it may be required by your landlord or property manager.
Renters insurance can protect you from financial losses due to fire, theft, vandalism, water damage, and other perils.
In this article, we will review the best renters insurance companies in South Carolina, the factors to consider when choosing renters insurance, and the average cost of renters insurance in South Carolina.
Best Renters Insurance Companies in South Carolina
There are many renters insurance companies in South Carolina, but not all of them offer the same level of service, coverage, and price. Based on our research, we have selected the following four companies as the best renters insurance providers in South Carolina:
1. State Farm
State Farm is the cheapest and best renters insurance company for most people in South Carolina. It offers a standard policy that covers personal property, liability, loss of use, and medical payments to others. You can also add earthquake coverage to your policy, which is useful for renters in some parts of South Carolina. State Farm has a high customer satisfaction rating and a strong financial stability rating.
Amica is the best renters insurance company for customer service in South Carolina. It has a low complaint ratio and a high J.D. Power score. Amica offers a comprehensive policy that covers personal property, liability, loss of use, medical payments to others, personal property replacement costs, credit card coverage, and identity fraud expense coverage. You can also add water backup coverage and valuable items coverage to your policy.
Allstate is a good option for renters who want more coverage options and discounts. Allstate offers a basic policy that covers personal property, liability, loss of use, and guest medical payments. You can also add scheduled personal property coverage, identity theft restoration coverage, business property coverage, water backup coverage, and personal umbrella coverage to your policy. Allstate also offers discounts for having multiple policies, having safety devices, being 55 or older, being claim-free, paying in full, and signing up online.
USAA is the best renters insurance company for military members and their families in South Carolina. USAA offers a standard policy that covers personal property, liability, loss of use, and medical payments to others. You can also add earthquake coverage, flood coverage, valuable personal property coverage, moving and storage coverage, and identity theft coverage to your policy. USAA also offers discounts for having multiple policies and being claim-free. However, USAA is only available to eligible military members and their families.
Factors to Consider When Choosing Renters Insurance
When choosing renters insurance in South Carolina, you should consider the following factors:
- Coverage options: Different renters insurance companies offer different types of coverage for your personal belongings, liability, and additional living expenses. You should compare the coverage options and limits of each company and choose the one that meets your needs and budget.
- Cost of premiums: The cost of renters insurance premiums depends on several factors, such as your location, the value of your personal property, the amount of coverage you choose, the deductible you select, and the discounts you qualify for. You should shop around and compare quotes from different companies to find the best deal.
- Customer service ratings: Customer service ratings reflect how well a renters insurance company handles claims, complaints, and inquiries from its customers. You should check the customer service ratings of each company from sources such as J.D. Power, NAIC, BBB, and online reviews. You should choose a company that has a good reputation for providing quality service and support.
Average Cost of Renters Insurance in South Carolina
The average cost of renters insurance in South Carolina is $290 per year or $24 per month. This is slightly higher than the national average of $251 per year or $18 per month. However, the actual cost of renters insurance in South Carolina may vary depending on your location, personal property value, coverage amount, deductible amount, and discounts.
The table below shows the average annual cost of renters insurance in South Carolina by ZIP code:
|Average annual cost