We looked at renters insurance quotes for a sample policy that included $30,000 in personal property coverage in 101 cities in the state of North Carolina in order to determine which cities had the highest and best annual renters insurance costs.
Compare cheap renters insurance options in North Carolina
Renters in North Carolina pay on average $240 per year for renters insurance for their home or apartment. Renters insurance prices in North Carolina vary by over 120% between the cities in our study. Below, we profile the most and least expensive cities in North Carolina for renters insurance. Read more about our study’s findings, or use our quote tool above to find renters insurance quotes in your area.
- Cheapest Renters Insurance Companies in North Carolina
- Top 5 Least Expensive Cities for Renters Insurance In North Carolina
- Top 5 Most Expensive Cities for Renters Insurance in North Carolina
- What Does Renters Insurance Cover in North Carolina?
Cheapest Renters Insurance Companies in North Carolina
We collected quotes for our sample policy across 101 cities from State Farm, Allstate, Liberty Mutual, Amica and Nationwide. Quotes from each company were averaged to find which insurance companies had the best insurance rates in North Carolina. The graph below displays the average annual cost to insure our sample residence by company alongside the state average:
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Top 5 Least Expensive Cities for Renters Insurance in North Carolina
1. Hickory, NC
Hickory is a small city in North Carolina located in the foothills of the Appalachian Mountains. The construction and subsequent opening of Lenoir Rhyne College was one of the first events that allowed Hickory to grow in size. Further growth is attributed to the construction of Interstate 40. Today, the interstate runs through several major American cities, including Nashville and Oklahoma city.
Hickory has the cheapest renters insurance rates in North Carolina. Residents of Hickory pay an average annual renters insurance rate of $176, which is 27% less than the state average. Based on our study, Amica provides the most affordable renters insurance rates in Hickory by a margin of $22. Amica quoted our sample policy an annual renters insurance rate of $132.
2. Hendersonville, NC
Hendersonville, not to be confused with Henderson, is well known for its mountainous terrain. The city is the largest in the county and is situated 2,200 feet above sea level. The city’s major industry is tourism, which is aided by industrial development restrictions that have been put in place. Hendersonville is in close proximity to a few designated green areas, including the Gorges State Park and the Dupont State Forest.
Hendersonville has the second cheapest renters insurance rates in North Carolina. Our research found that the average annual cost of renters insurance in Hendersonville was $179, which is 26% less than the state average. Allstate and Nationwide offered the least affordable renters insurance quotes at an annual cost of $220 and $230, respectively.
3. Morganton, NC
Morganton is the county seat of Burke County, which is the largest county in Western North Carolina. The city was named in recognition of Brigadier General Daniel Morgan, who served in the American Revolutionary War. However, the city cycled through a few names before finally settling on Morganton, including Morgansborough and Morgantown.
Morganton is the third best city for renters insurance in North Carolina. On average, residents of Morganton pay $180 per year for their renters insurance, which represents a rate that is $60 less than the state mean. Allstate and Nationwide offered rates that differed by just $1, at an annual cost of $220 and $221, respectively. The cheapest renters insurance rate in the city was offered by Amica at $132 per year.
4. Asheville, NC
Asheville is located in the western region of the state and near the North Carolina-Tennessee border. Like many other American cities, Asheville was greatly impacted by the Great Depression. While other cities chose to default on Depression-era bonds, Asheville selected to pay back the city’s debt. As a result, other cities underwent revitalization in the 1950s and 1960s, but Asheville lacked the funds to do the same. Today, the city’s past hardships have a silver lining as the city is popular for its classic architecture, which would have been mostly removed if the city defaulted on its debt like so many other cities did.
Asheville ranks as the fourth cheapest city for renters insurance in North Carolina. The average annual renters insurance rate in the city was $181, just $1 shy of the third best city, Morganton. We recommend that renters in Asheville compare quotes from Amica, State Farm and Liberty Mutual as they offered the cheapest renters insurance rates in the city.
5. Lenoir, NC
The city of Lenoir is located in the northwestern region of North Carolina. One of the largest initial industries to exist in the city was furniture manufacturing. In fact, it wasn’t unusual for large furniture buyers to travel to Lenoir to get a sneak preview at upcoming furniture lines. Today, the city has a more diverse economy, but a few of those early furniture companies are still operating.
If you’re looking for the best renters insurance in Lenoir, we recommend starting with Amica. It quoted our sample policy an annual renters insurance rate of $132. State Farm offered a slightly higher rate at $169 per year, which is $37 greater. Based on our study, Lenoir is the fifth best city for renters insurance in North Carolina.
Top 5 Most Expensive Cities for Renters Insurance in North Carolina
1. Clinton, NC
Clinton is the largest and oldest city in Sampson County. The county is named after John Sampson, while Clinton itself is named after Sampson’s son, Richard Clinton. Both men were heavily involved in local government and served in the military. Richard Clinton is credited for ensuring that an act that led to the creation of Sampson County was passed.
Clinton ranks as the least affordable city for renters insurance in North Carolina. On average, residents pay $394 per year for renters insurance, which is 64% greater than the state average. The most affordable renters insurance rate in Clinton was offered by Amica at an annual cost of $156. Amica was the only insurance company in the area to offer a quote below the state average.
2. Whiteville, NC
Whiteville is a small city with a population of just over 5,000 residents. Despite its size, the city features a few educational centers, including the North Carolina Museum of Natural Sciences in Whiteville and the Prairie Ridge Ecostation for Wildlife and Leaning. Both centers offer free programs to the city’s residents.
The most affordable annual renters insurance rate in Whiteville was offered by Amica by a margin of $86. Amica offered our sample policy an annual renters insurance rate of $180. The next most affordable insurance company in the city was Liberty Mutual, which offered a quote of $266 per year. Whiteville ranks as the second least affordable city for renters insurance in the state of North Carolina. Residents pay an average annual cost of $361 for renters insurance.
3. Fayetteville, NC
Fayetteville, one of the largest cities in the state, is located south of both Charlotte and Raleigh. The city’s economy is largely supported by two military bases, Fort Bragg and Pope Army Airfield. Together, the two are estimated to bring in $4.5 billion in spending into the region. As a result, the city features over 1,500 retail stores and more than 400 restaurants.
Based on our research, annual renters insurance quotes in Fayetteville vary by $406, which is more than some cities average for renters insurance costs. On average, residents of Fayetteville pay $353 per year for renters insurance, which is 47% greater than the state mean. Allstate offered the least affordable renters insurance rates in the city at an annual cost of $562.
4. Roxboro, NC
The city of Roxboro is located in the northern portion of the state and near the North Carolina-Virginia border. The city is well known for its accessible outdoor activities. Residents of Roxboro and visitors enjoy the city’s proximity to Hyco Lake and the Mayo Lake Park. Both lakes allow visitors to enjoy boating and fishing.
Based on our study, Roxboro ranks as the fourth most expensive city for renters insurance in the state. On average, Roxboro residents pay $311 per year for renters insurance, representing a rate that is 30% greater than the state average. Our study concluded that renters insurance rates in Roxboro vary by $384, which is more than some companies in the city charge for a year of renters insurance coverage.
5. Kinston, NC
Kinston is located approximately 96 miles east of Fayetteville. The city’s largest employers include Lenoir County Public Schools, Sanderson Farms, and Lenoir Memorial Hospital. Together, the three employers account for more than 10% of jobs within the city. A large number of the largest employers in Kinston are government owned entities.
Amica quoted the most affordable renters insurance rate in Kinston at $144 per year, which is $96 less than the state average. However, based on our study, Amica was the only insurance company in Kinston that offered a quote that was less than the state average. Based on our findings, Kinston ranks as the fifth worst city for renters insurance rates in North Carolina.
What Does Renters Insurance Cover in North Carolina?
The extent of your renters insurance coverage will depend on the policy offered by available insurers, not the state you live in. Renters insurance, in North Carolina and elsewhere, will provide financial protection through four main coverage features.
- Personal property coverage: Renters insurance policies will reimburse you for the cost of replacing items damaged or stolen in a covered event. Covered events could include anything from thieves stealing your television to water damage from a burst pipe. Renters insurance does not cover floods, however, so coastal Carolinians whose apartments are vulnerable to flooding should seek out separate flood insurance.
- Personal liability coverage: If you're held liable for injury to others, this feature covers those costs. This could include medical costs of someone injured in your apartment or legal defense if someone sues you for property damage. A typical renters insurance policy will cover up to $100,000 in liability costs. If you're in North Carolina and your landlord requires you have renters insurance, they're likely motivated by a desire to ensure their tenants have liability coverage, as the costs of legal exposure can be quite high.
- Additional living expenses (ALE) coverage: Sometimes referred to as loss of use coverage, this feature covers additional expenses if tenants can't live in their rental property due to a covered event. Coverage will only extend to costs above and beyond your normal expenses. For instance, if smoke damage from a fire makes your apartment uninhabitable, ALE will cover the costs of staying in an Airbnb up to the limits specified in your policy.
- Medical payments coverage: Covers medical costs if a guest is injured on your property. Generally, the limits of this coverage are minimal, ranging from $1,000 to $2,000.
There are no state laws requiring tenants have renters insurance in North Carolina—or any other state—so you typically won't have to buy coverage unless you want to. However, if your landlord mandates renters insurance coverage in your lease, you'll have to buy a policy to rent their apartment.
We always recommend that tenants buy renters insurance given its combination of financial protection and affordability. The average rent of an apartment North Carolina's major cities is about $1,000 per month, and an additional $20 per month to secure the value of your belongings and protect against legal liability is well worth it.
We studied 101 cities, which are spread out geographically throughout North Carolina. The sample renters insurance policy we collected quotes for included $30,000 of coverage. Quotes were obtained from State Farm, Allstate, Liberty Mutual, Amica and Nationwide insurance companies. The renters insurance rates were then averaged to arrive at a mean for each city. Below, we provide an alphabetical list of all the cities included in our study.
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