Renters Insurance North Carolina

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The average estimated cost of a rental insurance policy in North Carolina was $92 a year in 2013. Renters insurance is cheaper than most people realize; average homeowners insurance is $610 a year in North Carolina

Comparing Renters and Owners Insurance in 2013 in North Carolina

The landlord's policy does not cover renter's damages like burglary. There were 99323 burglaries reported in North Carolina in 2012. So, to protect one from events like fire, burglary or other disasters renters insurance is required.

Renters Insurance Coverage Types:

Actual cash value policy:
The Actual cash value policy covers the depreciated value of loss. An example of this is – a $620 Laptop might be worth only $310 in six months and that is the amount the insurance pays for.

Replacement Coverage Policy in North Carolina:

  • In that same example, you won't necessarily get what you paid for your Laptop, but you'll get enough to buy another one just like it. Replacement Cost Insurance in North Carolina costs about $23.0 more than the Actual Cash Value policy.
  • Considering the median rent of $980 per month in North Carolina, the average renters insurance of $10 per month is 1.02% of median monthly rent.

Estimated Renters Insurance for Different House Types in North Carolina

House Type Median Rent Estimated Renters Insurance
Single Fam $1,000 $90
Condo $950 $85
Duplex $800 $72
One Bed $750 $67
Two Bed $780 $70
Three Bed $1,000 $90
Four Bed $1,320 $118
Many Bed $1,700 $153

Deductibles in North Carolina:

An average of $10.12 can be saved on the insurance premium by choosing a $500 deductible over a $250 deductible.