Best and Cheapest Renters Insurance in South Carolina (September 2024)

While Chubb has the highest MoneyGeek score of 93 and an average annual premium of $120, Allstate ranks the highest in affordability with a score of 68.

Your best options can vary based on needs: Travelers is ideal for quality service, USAA suits veterans perfectly.

Auto-Owners is the best renters insurance provider in South Carolina, with a MoneyGeek score of 93 out of 100 and an annual premium of $97 for $20K in personal property coverage. This provider typically balances cost and customer service effectively. The two best renters insurance providers in South Carolina for the same policy are:

• Auto-Owners: MoneyGeek score of 93 out of 100 ($97 per year)
  
• Chubb: MoneyGeek score of 93 out of 100 ($120 per year)

Auto-Owners perfectly balances customer satisfaction and affordability with the lowest annual premium. However, the best choice for you will still depend on your individual needs.

Auto-Owners offers the cheapest renters insurance in South Carolina with an annual premium of $97 for $20K in personal property coverage and a $1,000 deductible. The two cheapest providers are:

• Auto-Owners: $97 per year
• Allstate: $118 per year

Cheap renters insurance policies often have low personal property coverage limits. However, higher personal property coverage limits can lead to higher monthly costs but offer better protection if you have many belongings.

The cheapest renters insurance company for $20,000 in personal property coverage with a $2,000 deductible in South Carolina is Auto-Owners, with an annual premium of $91. For the same coverage and deductible, the top two cheapest providers in South Carolina are:

• Auto-Owners: $91 per year
• Chubb: $103 per year

A deductible is the amount you must pay before your insurance starts covering expenses. It directly affects your insurance costs; a higher deductible usually means lower premiums. You can examine how rates change with the table provided below.

Travelers is the best renters insurance company for service quality in South Carolina for $20K in personal property coverage, with an annual premium of $271. The two best providers are:

• Travelers: MoneyGeek score of 95 out of 100 ($271 per year)
• Nationwide: MoneyGeek score of 94 out of 100 ($175 per year)

Great customer service is crucial for renters because it ensures quick and hassle-free assistance during unexpected events, such as making a claim. When you file a claim, having a provider that handles your concerns promptly and professionally can make all the difference.

State Farm is the best renters insurance company for renters who need $100K of personal property coverage in South Carolina, with an annual premium of $249. The two best providers are:

-State Farm: MoneyGeek score of 95 out of 100 ($249 per year)
-Auto-Owners: MoneyGeek score of 93 out of 100 ($243 per year)

Renters with more personal belongings need higher personal property coverage. Personal property coverage protects your items from theft, damage or loss. Higher coverage usually comes at a higher cost. Therefore, finding a provider that balances cost and great service is vital.

USAA is the best renters insurance company for those with military backgrounds in South Carolina, with an annual premium of $164. The following providers are the top two best providers in South Carolina for military members who need $20K in personal property coverage:

• USAA: MoneyGeek score of 100 out of 100 ($164 per year)
• Auto-Owners: MoneyGeek score of 93 out of 100 ($97 per year)

USAA offers a range of products tailored for those with a military background, providing discounts and coverages that suit the military lifestyle. USAA is not the cheapest option, its tailored offerings make it worth considering for military families.

Chubb is the best renters insurance company in South Carolina for people with poor credit, with an annual premium of $120. The two best providers are:

• Chubb: MoneyGeek score of 98 out of 100 ($120 per year)
• Nationwide: MoneyGeek score of 94 out of 100 ($258 per year)

Rates for people with poor credit are often higher. Insurers view poor credit as a sign of financial instability, indicating a higher likelihood of filing claims. However, you can improve your credit score to lower rates and take advantage of available discounts.

The average cost of renters insurance in South Carolina is $163 annually, which breaks down to $14 per month. This is higher than the national average of $146 per year. South Carolina renters pay $17 more annually compared to the national average. These rates are based on a renters insurance policy with $20K personal property limits, $100K liability limits, and a $1,000 deductible.

The average cost of renters insurance in South Carolina may vary greatly depending on the amount of personal property coverage you purchase. Personal property coverage protects your belongings in case of damage or theft. Use the tool below to get an estimate for your renters insurance based on your needs.

The average cost for renters insurance not only varies by state but also by city. For instance, the average cost in Charleston is $186, whereas in Columbia, it is $151. These rates are based on a renters insurance policy with $20K personal property limits, $100K liability limits, a $1,000 deductible, and a good credit score. See the average cost in your city using the table below.

The cost of renters insurance in South Carolina is influenced by multiple factors, including the location of the rental property and the amount of coverage desired. Understanding these variables is key to finding a policy that fits your budget and needs.

• Location: The area where you live can affect your premium due to crime rates and weather-related risks.
• Coverage Amount: Opting for higher coverage limits will typically increase your insurance costs.
• Deductible: Choosing a higher deductible can lower your monthly premium, but you'll pay more out-of-pocket in case of a claim.
• Claims History: Renters with a history of claims may face higher premiums due to perceived risk.
• Credit Score: Insurance companies may use your credit score to determine your premium, with higher scores often leading to lower costs.

Determining your personal property coverage involves creating a personal inventory of all your belongings at home. A personal inventory is a detailed list of items you own, including their descriptions and values. Follow these steps to create one:

1. Start With Big-Ticket Items: List all high-value items first, such as electronics, jewelry and furniture, noting their make, model and serial numbers when available.
2. Document With Photos or Videos: Take clear photographs or video recordings of your belongings, capturing any identifying marks or conditions.
3. Include Receipts and Appraisals: Attach purchase receipts, warranty cards and appraisal documents for items of significant value.
4. Store Information Securely: Keep your inventory list and supporting documents in a safe, accessible location, such as a cloud storage service.
5. Update Regularly: Review and update your personal inventory annually or whenever you acquire or dispose of items.

Renters insurance primarily protects your personal belongings from damage, but it also extends to other areas such as liability and additional living expenses. Here's what a typical policy may cover:

• Personal Property Coverage: Safeguards your possessions against covered perils like theft to help you replace them.
• Personal Liability Coverage: Protects you from legal responsibility for injuries or damage to others, such as if a guest is injured in your rental unit.
• Loss of Use Coverage: For additional living expenses if your rental is uninhabitable due to a fire, for example, loss of use coverage can cover temporary housing costs.

Renters insurance typically applies to specific events, like theft, vandalism or specific natural disasters. Here's what most policies cover:

• Fire or lightning
• Windstorm or hail
• Explosions
• Riots
• Damage caused by aircraft
• Damage caused by vehicles
• Smoke damage
• Vandalism
• Theft
• Volcanic eruption
• Falling objects
• Weight of ice, snow or sleet
• Water-related damage from home utilities
• Electrical surge damage

Although renters insurance provides a safety net for your personal property and liability, it does not universally cover all losses. For instance, damage from floods typically falls outside standard policies. Here's what else is usually not included:

• Natural Disasters: Standard policies often exclude events like floods and earthquakes.
• High-Value Items: Expensive jewelry or electronics may exceed policy limits.
• Business Equipment: Items used for business purposes may require additional coverage.
• Roommate Property: Your policy does not cover your roommate's belongings.
• Pest Damage: Infestations and damage from pests are generally not covered.
• Car Theft: Personal vehicles are covered under auto insurance, not renters insurance.

Understanding these exclusions can help you seek additional coverage if necessary, ensuring you're protected against a wider range of potential risks.

Choosing the best renters insurance provider depends on your specific needs and circumstances. In this FAQ section, we've answered common questions to help you navigate your options and make an informed decision.