6 Best Renters Insurance Companies in South Carolina of 2022
Many residents of South Carolina rent a place to live, whether they do so in a major city such as Charleston or Columbia or in a small town like Greenwood or Port Royal.
There is no law in South Carolina that requires renters to purchase renters insurance, but many landlords require their tenants to buy coverage to protect their personal property and avoid disputes in the event that a tenant’s property is damaged.
PropertyNest recommends at least basic renters insurance for every renter in the Palmetto State to ensure their peace of mind if their belongings are damaged, destroyed, or stolen.
The national average for renters insurance is $15 per month, while the South Carolina state average is slightly higher, coming in at $17 per month.
We have spent time evaluating and comparing the best renters insurance companies in South Carolina.
Best Renters Insurance Companies in South Carolina
- Liberty Mutual: Best for Low Minimum Coverage
- Allstate: Best for Retirees in South Carolina
- State Farm: Best for Affordable Coverage
- Amica: Best for Customer Service
- USAA: Best for Active Duty Military Service Members
- Nationwide: Best for Policy Riders
Liberty Mutual: Best for Low Minimum Coverage
Liberty Mutual has been around for over a century, providing an array of insurance coverage, including affordable renters insurance.
The company has received excellent ratings for its financial strength and claims-paying ability, but we selected them for our list because they offer policies with lower limits than the other companies we’ve reviewed.
Even if you choose a low-limit policy, you’ll have the option of scheduling high-value items separately and may still save money on your total premium.
We also like Liberty Mutual for its excellent customer service.
Liberty Mutual’s average cost of homeowners insurance is $30 per month, which is higher than the state and national average, but you can save by applying multiple discounts.
Read a full Liberty Mutual renters insurance review.
Liberty Mutual Renters Insurance Discounts
South Carolina renters can qualify for up to five discounts to help them save money on renters insurance.
- Bundling. If you buy two or more policies with Liberty Mutual you can save on both.
- Autopay. Sign up to pay your monthly premium automatically to get this discount.
- Claims-free. You can save if you’ve never filed a renters insurance claim.
- Early shopper. Buy your new policy before your old one expires to save.
- Online purchase. Get your quote and buy your coverage online to qualify for this discount.
Liberty Mutual Renters Insurance Pros & Cons
- Liberty Mutual offers lower coverage limits than other carriers.
- Customer service is well reviewed and available 24/7/365.
- You can take advantage of up to five discounts to save.
- Filing claims can be done easily online.
- Online quotes may not be available in some areas.
- Liberty Mutual’s standard policy doesn’t cover water damage.
- The maximum available limit for renters insurance is $25,000.
|J.D. Power (out of 1,000)||834|
|A.M. Best - Financial Strength Rating||A|
|NAIC Complaint Index||2.37|
Allstate: Best for Retirees in South Carolina
Allstate is one of the largest property and casualty insurers in the United States and has earned a place in the Fortune 500.
The company has a free mobile app and does a great job with online accessibility, but we chose them because they offer a special discount to help retired people afford renters insurance.
We also like that renters can purchase flood insurance via Allstate, which is something that’s not an option with most rental insurance companies.
The average cost of Allstate renters insurance in South Carolina is $18 per month, which is just above the average.
Read a full Allstate renters insurance review.
Allstate Renters Insurance Discounts
Renters in South Carolina can save with four potential discounts from Allstate.
- Easy pay. If you enroll to make automatic payments, you’ll get a break on your premium.
- Policy bundling. Buy two or more policies to save.
- Safe home. Every South Carolina renter can claim this discount since smoke detectors are legally required in rental units.
- 55 and retired. If you’re 55 or older, you can save up to 25% on your renters insurance with Allstate.
Allstate Renters Insurance Pros & Cons
- Allstate provides a free online tool that you can use to estimate how much coverage you need.
- The company has a user-friendly, free app for filing claims and more.
- Additional coverage is available for flood damage, high value items, and identity theft protection.
- There is a special discount available to help retirees save.
- We wish Allstate’s website had more information about the different coverage options.
- The lowest policy limit is $25,000.
- Allstate has received a slightly higher than average volume of customer complaints.
|J.D. Power (out of 1,000)||837|
|A.M. Best - Financial Strength Rating||A+|
|NAIC Complaint Index||2.05|
State Farm: Best for Affordable Coverage
State Farm started providing auto insurance all the way back in 1922 and today provides an array of coverages including renters insurance.
Allstate has excellent customer service, but we chose them for our list because they have the least expensive renters insurance in South Carolina.
We also like that they offer high coverage limits, which are ideal for renters who own a lot of items and want to be completely protected.
The average monthly cost of State Farm renters insurance in South Carolina is just $14 per month, less than the state average.
Read a full State Farm renters insurance review.
State Farm Renters Insurance Discounts
State Farm offers two discounts on renters insurance, both of which are accessible to most South Carolinians.
- Multi-policy. If you bundle auto and renters insurance, you can get this discount.
- Security. Get this discount thanks to South Carolina’s legal requirement to have smoke detectors for rental units.
State Farm Renters Insurance Pros & Cons
- The average cost of SC renters insurance is lower than the national average.
- You can augment your policy with additional coverage, including ID restoration.
- Policy limits of up to $30,000 are available.
- State Farm pays claims quickly and with a minimum of fuss.
- There are only two renters insurance discounts offered.
- The lowest policy limit is $10,000.
- Telephone support is not available 24/7.
- The only online support is FAQ.
|J.D. Power (out of 1,000)||836|
|A.M. Best - Financial Strength Rating||A++|
|NAIC Complaint Index||1.77|
Amica: Best for Customer Service
Amica was founded all the way back in 1907 and has been providing insurance for 115 years.
Amica has a broad array of riders available, but we chose them for our list because they provide the best customer service.
We also like that their costs are affordable, and there’s no upper limit for renters insurance policies.
Amica’s average cost in South Carolina is $17 per month, which is equal to the state average.
Amica Renters Insurance Discounts
Amica provides five discounts for South Carolina renters, including two that most will qualify for.
- Bundling. Buy two or more policies to get this discount.
- Automatic payments. Sign up for autopay to get a break on your premium.
- Claims-free. You can get this discount if you have gone three years without a claim.
- Loyalty. If you keep your renters insurance with Amica for 2+ years, you can save.
- Paperless. Sign up to receive bills and policies electronically to get this discount.
- There is no upper limit on coverage for your personal property.
- There are several add-ons to help you customize your coverage.
- Amica has excellent customer service and receives only a quarter of the complaints of other companies its size.
- The company has a user-friendly website and mobile app.
- There are five discounts that can be layered to maximize your savings.
- We like their website but feel it could have more information to clarify which events are covered by their standard policy.
- Customer service is excellent but not available around the clock.
|J.D. Power (out of 1,000)||854|
|A.M. Best - Financial Strength Rating||A+|
|NAIC Complaint Index||0.32|
USAA: Best for Active Duty Military Service Members
Unlike the other companies on our list, USAA serves an exclusive group of renters: US military members and their families.
USAA offers excellent customer service, but we selected them for our list because they provide special coverage and low prices to military members.
We also like that USAA offers built-in flood insurance, something that’s rare and useful for anybody who lives near the water.
USAA’s average cost of renters insurance in South Carolina is less than $12 per month, making it the least expensive option on our list.
USAA Renters Insurance Discounts
USAA already has low prices, but they offer four discounts for renters insurance, including one unique to service members who live on a military base.
- Policy bundling. You’ll save money if you bundle your renters insurance with life or auto insurance.
- Security. Save if you have installed smoke detectors or alarms in your rental.
- No claims. You’ll get a discount if you’ve never filed a renters insurance claim.
- On-base. Some active duty military members who live on base can save up to 28% with this discount, but you’ll need to check to see if the discount is available in your area.
USAA Renters Insurance Pros & Cons
- USAA has the most affordable coverage for military members.
- Replacement cost coverage comes standard.
- Flood & earthquake insurance are included.
- There’s a zero deductible option for damaged military uniforms.
- The company receives the highest ratings for its ethical practices.
- The on-base discount may not be available in all regions.
- Coverage is only available to military service members & their families.
- USAA has received an average volume of customer complaints for its size.
|J.D. Power (out of 1,000)||886|
|A.M. Best - Financial Strength Rating||A++|
|NAIC Complaint Index||0.88|
Nationwide: Best for Policy Riders
Nationwide Insurance is a well-known company and has a solid reputation for reliable claims payments and customer service.
We selected Nationwide for our list because they offer a broad array of riders and endorsements that allow renters to customize their policies and expand their coverage.
We also like that Nationwide has excellent customer service and reasonable prices.
The average cost of Nationwide renters insurance in South Carolina is $20 per month, which is slightly higher than the state average.
Nationwide Renters Insurance Discounts
Nationwide doesn’t offer as many discounts as some other companies, but they offer three that may apply to most South Carolina renters.
- Policy bundling. Bundle your renters insurance with car insurance or life insurance to save.
- Protective devices. Get a discount if your rental unit has an installed smoke detector.
- Claims free. You can get this discount if you’ve never filed a renters insurance claim.
Nationwide Renters Insurance Discounts
- Nationwide has exceptional customer service and is well-reviewed by policyholders.
- There are three easily-accessible discounts to help you save.
- The company has a free and well-reviewed mobile app that can be used to file and track claims.
- Nationwide offers several unique riders which include credit card protection, repairs related to code violations, and reimbursement for spoiled food.
- Live customer support is only available from 8 AM to 8 PM Eastern time.
- Nationwide doesn’t offer as many discounts as other companies.
|J.D. Power (out of 1,000)||859|
|A.M. Best - Financial Strength Rating||A+|
|NAIC Complaint Index||0.04 (Very Low)|
|Company||PropertyNest Rating||J.D. Power (out of 1,000)||A.M Best Rating||BBB Rating|
How We Selected Best Renters Insurance Companies for South Carolina
Evaluating insurance companies is a complex endeavor. Here are the five main criteria we used to select the best renters insurance companies in South Carolina.
The price of renters insurance can be a barrier to purchase, so we chose insurance companies that offer affordable rates for renters in comparison with the South Carolina state average and the national average.
Most insurance companies offer renters insurance discounts, which is why we selected companies that offer two or more discounts on renters insurance with special attention to those with discounts that apply to the majority of renters.
Coverage for renters insurance varies between companies, so we selected companies that offered a broad array of coverage levels and endorsements to help renters customize their policies.
Online & Mobile Services
Many South Carolinians prefer to purchase insurance and file claims online, so we made sure to pick companies with well-designed websites and mobile apps and an array of online services.
Customer support is never more important than when you need to file an insurance claim, which is why we focused on companies with strong customer service ratings and reviews and easily-accessible support options.
Why Should South Carolina Renters Purchase Renters Insurance?
There’s no denying that renters insurance is an added monthly expense on top of rent and utilities, but we still believe that it’s a must for every renter for these reasons.
- The cost of renters insurance is significantly less than what you would spend if you needed to replace your personal belongings.
- Your landlord’s property insurance won’t provide coverage if your belongings are lost or damaged.
- Most people don’t have enough money set aside to pay to replace their belongings or pay for a new place to live if their rental unit becomes uninhabitable.
- Your coverage will protect you even if your personal belongings are not in your apartment when they are stolen, damaged, or destroyed.
- You can easily add coverage if you have high-cost electronics, artwork, or jewelry.
- You’ll get liability protection if someone is hurt or their property is damaged in your rental unit, plus coverage to pay for a portion of their medical expenses.
- You’ll have some peace of mind knowing that you’re protected if something should happen to your property.
The monthly cost of renters insurance in South Carolina is just $17, meaning that in exchange for just a few dollars each week, you can have the protection you need to replace your belongings, shield you from personal liability, and pay for you to live elsewhere if the need arises.
What Factors Impact the Price of Renters Insurance?
While we’ve provided average costs for each of the companies on our list, you should know that there are four main factors that will affect how much you pay for renters insurance.
- Deductible. Every renters insurance policy comes with a deductible that you’ll need to pay out of pocket; policies with low deductibles cost more than policies with high deductibles.
- Coverage limit. Your coverage limit should be enough to cover the replacement cost of all of your belongings; choosing a high limit or scheduling high-cost items will add to your premium.
- Riders. You can use riders to add coverage to your policy, including food spoilage or ID restoration; each rider comes with a price attached.
- Location. Rentals in low-risk areas will have lower renters insurance premiums than those in high-risk areas.
You may want to look at quotes with different deductibles and weigh your risk before choosing a policy.
How Much Renters Insurance Coverage Do You Need?
One of the questions we are frequently asked has to do with how much renters insurance coverage people should buy.
We suggest starting with an inventory that includes the following items.
- Small appliances & kitchen gear
- Home decor items
We suggest taking photographs of your belongings to document what you own and calculating the actual cash value (what you paid) and the replacement value (what it would cost to buy a new item) to determine how much coverage to buy.
Keep in mind that any high-value items you own should be scheduled separately at an additional cost.
What Does Renters Insurance Cover (and What Isn’t Covered)?
South Carolina renters should understand the things that are covered by a typical renters insurance policy and what isn’t covered.
Here are the things that most renters insurance will cover.
- Damage, destruction, or theft of personal property. If your personal property is damaged, destroyed, or stolen–whether it’s in your apartment or not–your renters insurance will cover the loss by paying you either the actual cash value or replacement cash value according to your policy.
- Personal liability. If someone sustains an injury or their property is damaged in your rental unit, your policy will provide you with limited liability protection.
- Guest medical coverage. Your renters insurance will pay a portion of the medical expenses incurred by a guest in your rental unit.
- Alternative living expenses. You’ll receive money to pay for you to stay in a hotel or rent another living space if your apartment becomes uninhabitable due to a covered event.
Here are some things that are not covered by rental insurance.
- Damage above the policy limit. Any expenses that exceed your policy limits will not be covered.
- Non-covered events. Most property damage will be covered, but there are exclusions, including flood damage and personal negligence of property.
- Unscheduled valuables. Some high-value items, such as art and jewelry, must be scheduled separately at an additional cost; if they are not scheduled, your policy will not pay to replace them.
You should be sure to read your entire renters insurance policy to be sure that you understand what’s covered and what isn’t and at what limits.
At PropertyNest, we recommend that every renter in the Palmetto State buy renters insurance to protect themselves.
As a reminder, you won’t be protected by your landlord’s property insurance, so you’ll need to take steps to protect yourself with renters coverage.
Renters in South Carolina who live near the beach or another body of water may want to purchase flood insurance from the National Flood Insurance Program (NFIP), since standard renters insurance won’t offer protection from flood damage.
We suggest getting a minimum of three quotes from three companies to compare costs and coverage, taking advantage of all available renters insurance discounts.