![]() ![]() ![]() Liability coverage amount – The coverage level you choose only has a minor effect on the cost of your policy.RCV policies tend to cost more than ACV plans because they have higher payouts. In this case, the insurer pays for the cost to replace the damaged item with a new one of similar quality and type. The second type is replacement cost value (RCV). The first one is actual cash value (ACV), wherein your carrier pays for the depreciated value of your used items. RCV – Generally, there are two types of insurance in terms of reimbursements. That is because you will be paying more out of pocket in case of a claim. The higher the deductible, the lower the premium. Deductible – How much deductible you agree to pay the insurance company when covering a claim will impact the cost of your renters insurance.However, this factor tends to only have a minor effect. Depending on the neighborhood, the cost of renters insurance can vary. Location within a city – Crime is a factor that affects renters insurance rates.The more property you own, the higher your rates will be for personal property coverage. Personal property coverage amount – This is the most important factor that affects the cost of renters insurance in Charleston.While there are several factors that impact your renters insurance cost, the following are the most impactful to the amount you will spend. What Factors Impact Renters Insurance Costs in Charleston? Average Annual Rates for Personal Property Insurance If you are renting a home in a South Carolina city outside of Charleston, you can compare renters insurance in South Carolina as a whole. Check the table below to see how prices change depending on the personal property coverage limits. All of their policies also cover flood and earthquake damage.Īll prices used in MoneyGeek’s study are for policies with $20,000 in personal property coverage limits, $100,000 in liability coverage limits and a deductible of $500. Generally, USAA offers policyholders better value for their money as the company pays reimbursements at replacement cost. USAA: $140 per year (only available to current and former military members and their families).MoneyGeek found the most affordable rates for Charleston renters looking for cheap renters insurance. To find the best policy, compare renters insurance quotes from various carriers. ![]() The cost of renters insurance in Charleston is an important factor to consider when choosing a policy, as most companies in the city offer similar coverage. The Companies With the Cheapest Renters Insurance in Charleston ![]()
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