How much is renters insurance in Winston-Salem, NC

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Your renters insurance premium could be higher or lower depending on the coverage and liability limits you select. Purchasing renters insurance is a good idea, as it helps protect your personal property from damage or loss due to events like fire, smoke, theft and vandalism.

After carefully evaluating renters insurance companies, we’ve compiled a list of the most affordable insurers for Winston-Salem renters. Keep reading to learn which insurers offer the lowest rates in Winston-Salem

Key Takeaways

The average cost of renters insurance in Winston-Salem is $312 annually or $26 monthly.
The cheapest option for renters in Winston-Salem is North Carolina Farm Bureau, offering coverage at $12 per month.
Renters can reduce their insurance costs by taking advantage of discounts, such as discounts for installing a security system or bundling policies.

What is the average cost of renters insurance per month in Winston-Salem?

On average, renters in Winston-Salem pay $26 per month for renters insurance, which is $5 less than the state average of $31. The policy includes $40,000 in personal property, $100,000 in liability protection and a $1,000 deductible.

The cost of renters insurance in Winston-Salem varies depending on your carrier and the coverage limit you select. Renters in Winston-Salem typically pay $14 monthly for $20,000 in personal property coverage and a $1,000 deductible. If you decide to increase your coverage to $40,000, you’ll see an increase of $12 more in your monthly premium.

You’ll need to decide on the coverage that best fits your needs and budget. However, choosing higher coverage limits is a good idea if you own valuable items like jewelry, electronics, or furniture.

How much is renters insurance in Winston-Salem by deductible?

The renters insurance cost in Winston-Salem is $201 per year for a $500 deductible and $20,000 as personal property coverage.

A deductible is an amount you agree to pay before your insurance coverage kicks in. If you increase your deductible limit, your insurance cost will go down. For instance, if the personal property coverage is the same, i.e., $20,000, but you increase your deductible limit from $500 to $1,000, you will pay $30 less every year for insurance.

Below are the renters insurance rates for different personal property coverage and deductible amount.

Deductible	$20000 personal property	$40000 personal property	$60000 personal property
$500	$201	$352	$482
$1,000	$171	$312	$426

Read our guide to know what does renters insurance cover.

Who offers cheap renters insurance in Winston-Salem?

Your search for the cheapest renters insurance company ends here.

North Carolina Farm Bureau offers the cheapest renters insurance in Winston-Salem at $145 a year or $12 per month. According to Insure.com’s data analysis, State Farm ranks second on our list followed by Allstate.

Our experts at Insure.com evaluated renters insurance quotes from all the big and small insurance companies in Winston-Salem and put together a list of the most affordable insurance carriers.

Below are the average annual and monthly rates of the cheap renters insurance companies in Winston-Salem, NC.

Renter insurance provider	Average annual rate	Average per month rate
North Carolina Farm Bureau	$145	$12
State Farm	$240	$20
Allstate	$255	$21
Auto-Owners	$276	$23
Erie Insurance	$344	$29
Nationwide	$411	$34
Metropolitan	$580	$48
USAA	$147	$12

Tips for lowering the cost of renters insurance

Follow these tips to reduce the cost of your renters insurance in Winston-Salem:

Bundle policies: If you have other insurance policies, such as car insurance, consider bundling them with the same company. Many insurers in Winston-Salem provide discounts for bundled policies.

Increase your deductible: Opting for a higher deductible can lower your premium in Winston-Salem, but make sure you’re comfortable with the potential out-of-pocket costs if you file a claim.

Choose the right coverage amount: Review your renters insurance policy regularly to ensure you aren’t paying for unnecessary coverage, such as excess personal property coverage if you don’t own many valuables.

Avoid filing too many claims: Filing frequent small claims can increase your rates. It might be worth paying for minor damages out-of-pocket instead of using your insurance.

Compare quotes: Don’t accept the first quote you get. Shop around and compare renters insurance rates from different insurers in Winston-Salem to find the best deal.

Final thoughts

Renters insurance in Winston-Salem, NC, offers valuable protection for renters at an affordable price. While premiums can vary depending on location, coverage amount and individual circumstances, the peace of mind it provides is worth the investment. By understanding your coverage needs, comparing quotes and taking advantage of discounts, you can find an affordable policy that suits your budget.

Methodology

Insure.com, with the help of Quadrant Information Services, gathered data for renters insurance rates in Winston-Salem for $40,000 personal property coverage, $300,000 liability coverage, and a $1000 deductible. The data presented are those with a good credit tier alignment.

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Shivani Gite

Contributing Writer

Shivani Gite is a personal finance and insurance writer with a degree in journalism and mass communication. She is passionate about making insurance topics easy to understand for people and helping them make better financial decisions.