The Best Cheap Renters Insurance in North Carolina

North Carolina sees its share of natural disasters, especially hurricanes and tropical storms. That’s why you might want to buy renters insurance to cover your belongings.

NerdWallet compared rates from a dozen companies to find the cheapest renters insurance in North Carolina.

The average cost of renters insurance in North Carolina is $148 a year, or about $12 a month, according to NerdWallet’s rate analysis. That’s a little cheaper than the national average of $168.

On average, renters in Charlotte pay about $147 a year, while those in Raleigh pay about $139. See the table below for average rates in North Carolina’s 25 biggest cities.

We analyzed rates from a dozen insurers to find the cheapest renters insurance companies in North Carolina.

North Carolina Farm Bureau: Membership, at an annual cost of $25, is required to buy Farm Bureau renters insurance. It includes other benefits such as hotel and rental car discounts. Learn more about .

Heritage: This Florida-based company sells insurance through independent agents. It receives significantly more consumer complaints to state regulators than expected for a company of its size.

Auto-Owners: You may be able to save on your Auto-Owners renters policy if you haven’t filed any recent claims, buy more than one type of insurance through the company or pay your premium in full each year. Auto-Owners sells policies through independent agents.

State Farm: stands out for including replacement cost coverage for personal belongings, which means you’ll get enough to buy brand-new items if your stuff is stolen or destroyed. Many companies cover your things on an “actual cash value” basis, paying only what your belongings are worth at the time of your claim.

Nationwide: You can get a quote for online, over the phone or working directly with an agent. You might get a discount if you bundle your renters and auto policies, haven’t filed any recent claims or have smoke detectors in your home.

USAA: Only active-duty military, veterans and their families can buy USAA renters insurance, but it’s worth considering if you’re eligible. Unlike most insurance companies, USAA includes flood and earthquake coverage in its standard renters insurance policies.

If you’re looking for a highly rated national carrier, consider one of these insurers from NerdWallet’s list of .

Due to its coastal location, North Carolina often finds itself in the path of hurricanes and tropical storms. If such a storm destroys your belongings, renters insurance may be able to help.

A standard renters policy generally covers damage from wind but not flooding. For example, say hurricane winds blew part of the roof off your apartment building and rain got in through the gap, ruining your furniture. In most cases, your renters insurance policy would cover the cost of replacing your lost items.

But if the same hurricane caused a flash flood on your street, sending water into your unit, any damage likely wouldn’t be covered unless you had .

There are exceptions to the above. For example, your insurance company may expressly exclude wind damage from coverage or charge you a separate, higher deductible for windstorm damage if you live along the coast.

If your carrier doesn’t offer wind coverage for your home, you can buy a North Carolina Insurance Underwriting Association policy, the state’s last-resort insurer.

Here’s how renters insurance might help when dealing with other potential disasters in North Carolina.

Fires. Most standard renters insurance policies cover damage due to fire or smoke.

Tornadoes. As noted above, your renters policy will likely cover wind damage unless you live in a coastal area at risk for hurricanes and tropical storms.

Earthquakes. Most renters insurance will not cover earthquake damage, though you may be able to add it to your policy for an extra cost.

Ice storms. Burst pipes could cause water damage to your belongings, which would likely be covered by renters insurance.

Some policies may also offer coverage for food lost in your refrigerator during a power outage due to a covered disaster.

Your rates may differ from the averages listed above based on the following factors:

Insurers may charge more for renters insurance if they think your location makes you more likely to file a claim. So if you live in a neighborhood with a high crime rate or in a hurricane-prone area along the coast, prepare to pay a little more.

Many companies use a to help set renters insurance rates. While this isn’t identical to your traditional credit score, the two are typically similar. So the worse your credit, the more you may pay for renters insurance.

Below are the companies offering the cheapest North Carolina renters insurance for people with poor credit.

The higher your coverage limits, the more you’ll pay for a policy. So if you’ve got lots of stuff to cover, expect a higher premium.

Raising your — the amount of a claim you pay out of pocket — can lower your renters insurance premium. Just be sure it’s an amount you’d feel comfortable covering in a pinch.

If you’ve filed a renters claim in the past few years, insurance companies may consider you a higher risk for filing another one. Below are the North Carolina carriers with the cheapest rates for renters who’ve previously filed a theft claim.

your renters insurance with another policy from the same insurer is an easy way to get a discount from many companies.

Insurers often offer discounts if your home has a burglar alarm, smoke detectors, deadbolt locks or other protective devices.

Some companies will charge you more for renters insurance if you have a dog they consider an aggressive breed, such as a pit bull or Rottweiler. That’s because dog bites are a common source of claims.