Table of Contents
- How much does renters insurance cost in South Carolina?
- Average price of renters insurance in South Carolina by city
- Average price of renters insurance in South Carolina by insurance company
- The cheapest renters insurance in South Carolina: State Farm
- The best renters insurance in South Carolina: Liberty Mutual
- Other South Carolina renters insurance providers you should consider
- What else do you need to know about renters insurance in South Carolina?
- How we gathered our data on South Carolina renters insurance prices
How much does renters insurance cost in South Carolina?
On average, renters insurance in South Carolina costs $19.40 per month, which is consistent with the state average ($20). State Farm provided the cheapest quote that we received in the state, selling policies in Aiken for $13.33 per month. GEICO, Progressive, and Midvale quoted the highest prices we found, selling policies in Myrtle Beach for $28.08 per month.
Myrtle Beach ($28.08) is the most expensive city for insurance overall, which isn’t surprising because the city has one of the highest crime rates in America. Premiums are higher in areas where more property crimes are committed because insurers know that you’re likely to make a claim if your belongings are stolen.
Other factors affect renters insurance, including:
- Your building: If you live in an old building that presents a fire risk, or one that’s located far from the nearest fire station, your policy will be more expensive.
- Your claim history: If you’ve filed several claims in the last few years, your insurer will increase your renters insurance premiums. Conversely, if you’ve been claims-free for many years, your insurer will lower them.
- Your coverage: You’ll pay higher premiums if you want lots of coverage, and lower ones if you don’t need as much protection.
The price of renters insurance may also be affected by your credit score and the prevalence of extreme weather in your area (e.g. whether your state gets hit by a lot of hurricanes or tornadoes).
Average price of renters insurance in South Carolina by city
The table below shows the average cost of renters insurance in SC by city.
|City||Average price (monthly)||Average price (yearly)|
|Hilton Head Island||$26.12||$313.47|
We couldn’t get quotes from Allstate, State Farm, Liberty Mutual, or Nationwide in coastal cities like Myrtle Beach and Hilton Head Island. Because these areas are so prone to severe weather, many insurers determine rates on a case-by-case basis instead of providing automatic quotes online. Contact a local insurance agent for prices in your area.
Average price of renters insurance in South Carolina by insurance company
The following table shows the average prices that the seven major insurers quoted us for renters insurance in SC.
|Insurer||Price||Difference from average|
The cheapest renters insurance in South Carolina: State Farm
State Farm has the cheapest renters insurance in South Carolina, selling policies for $14.44 on average, which is 25% below the state’s average.
Benefits of State Farm renters insurance in South Carolina
- More loss-of-use coverage: State Farm is one of the few insurers that offers up to 24 months of additional living expenses if a covered peril makes your home uninhabitable. This is a significant benefit considering that hurricanes are common in South Carolina.
- Large network of agents: State Farm is the country’s largest renters insurance provider, and they have a large network of insurance agents in almost every state. It’s helpful to have that kind of support if you ever need help filing a claim or have urgent questions about your policy.
Disadvantages of State Farm renters insurance in South Carolina
- No flood insurance: South Carolina’s shoreline cities are vulnerable to coastal flooding, and unfortunately, State Farm’s renters insurance doesn’t cover floods. If you live on the coast you’ll need to buy a separate policy from another insurer that works with the National Flood Insurance Program (State Farm doesn’t work with them).
The best renters insurance in South Carolina: Liberty Mutual
On average, Liberty Mutual’s policies cost $18.91 per month, which is slightly better than the state average ($19.40). They provide the best renters insurance in SC because they offer flood insurance and an optional endorsement that adds earthquake coverage to your policy.
Benefits of Liberty Mutual renters insurance in South Carolina
- Flood insurance: Liberty Mutual partners with the NFIP, which means you can buy flood insurance from them. Note that this is a separate policy, and it will cost more than just buying renters insurance alone.
- Earthquake endorsement: South Carolina is in an earthquake hazard zone, but unfortunately, renters insurance doesn’t usually cover earthquakes. However, Liberty Mutual offers an earthquake endorsement that protects you against earthquake damage incurred within 15 days of the initial event. Moreover, they’ll also send catastrophe insurance experts to your area in the wake of the earthquake to help you file your claim.
- Discounts: Liberty Mutual offers a lot of discounts on renters insurance. They provide five discounts on their website, including one for buying online and another if you’ve been claims-free for more than five years. They also offer discounts of around 12% for alumni from universities in South Carolina, such as the College of Charleston.
Disadvantages of Liberty Mutual renters insurance in South Carolina
- Actual cash value: Liberty Mutual’s standard policies provide actual cash value coverage, which is less comprehensive than replacement cost coverage. You’ll have to pay extra if you want to upgrade.
Liberty Mutual has several advantages in South Carolina and minimal disadvantages, which is why they’re our pick for the overall best renters insurance in the state.
Other South Carolina renters insurance providers you should consider
Everyone has different requirements when it comes to renters insurance in SC, which is why we’ve gone over some other options below:
Best South Carolina renters insurance for tidal flooding: USAA or Liberty Mutual
Coastal flooding is a common symptom of hurricanes, and if you live in one of South Carolina’s shoreline cities like Myrtle Beach or Hilton Head Island, you probably need flood insurance.
As mentioned, renters insurance doesn’t usually cover floods, but USAA offers flood coverage with every policy for no extra charge. If you’re unsure whether you need flood insurance, the NFIP has a flood map finder that you can use to find out if you live in a risk zone.
Unfortunately, USAA is only available to serving military members, veterans, and the children and spouses of USAA members. If you’re ineligible, Liberty Mutual is a good alternative because they’re still partnered with the NFIP.
Best South Carolina renters insurance if you already have auto insurance: your current provider
You can usually get a bundling discount when you buy renters insurance from the same provider that you bought your auto policy from. Cars are much more expensive to insure than rental units (auto insurance costs around $1,500–$1,600 per year on average), so if your insurer’s bundling discount extends to your auto policy, it might virtually cancel out the cost of your renters insurance.
If your current provider doesn’t provide a bundling option, or if they’ll only apply it to your renters insurance policy, it might be worth switching insurers when your auto policy expires.
How to learn more about renters insurance providers in South Carolina
You can learn more about the best-rated renters insurance in SC by reading our reviews of:
- State Farm
- Lemonade (they don’t currently sell policies in South Carolina, but they might soon)
What else do you need to know about renters insurance in South Carolina?
Before you choose a policy, you should know a few more things about renters insurance in SC:
Does renters insurance cover hurricane damage in South Carolina?
Yes, renters insurance often covers hurricane damage in South Carolina. Although hurricanes won’t be specifically mentioned anywhere in your policy, most of the damage they can cause is covered.
For example, renters insurance covers lightning damage, so you’ll be protected if your home is struck during a hurricane. Your renters insurance also covers:
Hurricane-related floods generally aren’t covered, and a few insurers also write special exclusions for windstorms into their policies in hurricane-prone areas. Check your policy or speak to your provider to find out if you’re covered.
Does renters insurance require a credit check in South Carolina?
Yes, renters insurance providers are allowed to run your credit in South Carolina, so it’s doubtful that you’ll be able to get renters insurance with no credit check. If you have a poor credit score, you’ll have to pay a bit more for insurance because your provider will see you as a higher risk.
Can landlords require renters insurance in South Carolina?
Yes, your landlord can write a renters insurance requirement into your tenancy agreement in South Carolina. You’re not legally obligated to buy a renters insurance policy, but if you don’t, your landlord can decline to rent to you (or can evict you if you already moved in).
How we gathered our data on South Carolina renters insurance prices
All of the quotes we received are based on the following information:
- Insured party: 30-year old male, employed, unmarried, with no pets
- Personal property coverage: $30,000
- Personal liability coverage: $100,000
- Guest medical coverage: $1,000
- Loss-of-use coverage: Insurer’s default (usually based off personal property coverage)
- Deductible: $500
Because insurers base their premiums on factors like your age, the amount of coverage you pick, and your renters insurance deductible, the quotes you receive might be a little different from ours.
The prices we collected don’t include installation fees, which many of the insurers we looked at charge. Usually they require the equivalent of one month’s premium. If you want to get renters insurance with no down payment, offer to pay in advance for a year’s worth of insurance.
The price of renters insurance in South Carolina: complete data set
The following table includes all of the quotes we received for renters insurance in SC.
|City||Allstate||Geico||Progressive||State Farm||Liberty Mutual||Nationwide||Midvale|
|Hilton Head Island||$22.08||$26.25||$28.08||-||-||-||$28.08|
We’ve marked “N/A” where we were unable to get quotes.
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