The time to get a renters insurance policy is before you find yourself needing one.  A fire, a leaky pipe, an injured guest can cause financial stress that could be avoided if you’re prepared.  If you’re a renter in South Carolina, looking for how much a renters insurance policy may cost, discounts to help you save, or what is covered–this guide is for you.

The Price For South Carolina Renters Insurance

On average, the cost of rental insurance in South Carolina is $196 per year—or a little under $17 per month. That’s 5% more expensive than the national average, but it’s still cheap when you consider all it covers. Based on the minimum wage in the Palmetto State, working just 27 hours earns you enough to pay for an entire year’s premium.   Compare that with the cost of replacing your belongings and it’s easy to see that renters insurance is money well spent.

 South Carolina Rental Insurance Coverage

There were 45,086 burglaries reported in South Carolina in 2012. Depending on the items taken, the result can be a substantial financial loss. By helping cover the cost of replacing your stolen belongings, renters insurance reduces the financial burden of a break-in.

Renters insurance may also protect your things if they are damaged or destroyed by fire, plumbing leaks, vandalism, or other covered perils. The benefits don’t end there. Even when you take your belongings outside of your rental, they may still be covered.

 Discounts for Renters

Factors that can have an effect on your renters insurance premium include: the area you live in, the things you own, claims history, and other policies from insurance companies you might currently have.
Renters insurance is already budget-friendly, but there are still discounts you should see if you qualify for:

  • Multi-Policy: Bundle auto or another insurance plan with renters insurance and save.
  • No Prior Claims: Save on your insurance bill if you have a clean claims record.
  • Safety Devices: Installing safety systems like smoke alarms and security systems can result in premium discounts.
  • Higher Deductibles: If you opt into a plan with a higher deductible, you’ll have a lower payment amount every month. Watch out for this though. Your deductible is something you’re responsible for paying if you file a claim.

Did You Know?

In South Carolina 31% of residents are renters. Our research shows that they spend $758 per month for a two-bedroom rental, which adds up to about $9,000 per year. Getting a year’s worth of renters insurance protection costs just $196 annually. The numbers make it clear—getting renters insurance is a sound financial decision.

Get Expert Help

Are you ready to start comparing quotes? Or do you need additional information?  South Carolina insurance experts are ready to help.  Call 855-462-2213 .

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