The short version

The NAIC report published in July 2026 reports 2023 average annual renters premiums of $174 in North Carolina and $173 nationwide (HO-4, Table 5, printed pages 170 and 136). Those figures describe past policies, not a price available to every renter today.

The report year and the price year are different: the report was published in 2026 using 2023 data. Your current quote depends on the property, coverage choices, insurer, and other rating factors.

Compare current quotes with the same limits, deductibles, and property valuation method. An average alone cannot tell you whether your policy is good value.

The gap between renting and owning is wider than most people expect once you compare it against what homeowners insurance costs in NC.

What actually drives your price

How much personal property coverage you buy

This is the biggest lever. A renter insuring $20,000 of belongings pays less than one insuring $60,000. Most people guess low on this — walk through what it would cost to replace everything and the number is usually larger than expected. We cover the method in how much Renters Insurance you need.

Replacement cost versus actual cash value

Replacement cost can provide a different claim settlement from actual cash value. The added premium varies by insurer and policy; there is no single percentage increase that applies to all quotes.

Your liability limit

Liability is inexpensive to increase, and many Charlotte-area landlords require a minimum amount anyway. Raising it is usually one of the cheapest improvements available on the policy.

Your deductible

A higher deductible lowers the premium. Just make sure the number is one you could actually write a check for.

Where you live and what you are renting

Location, building construction, and safety features all factor in. So does your claims history.

The bundling point — this is the real answer

If you need auto insurance too, request both bundled and separate quotes. A multi-policy discount may be available, but it does not guarantee that using one insurer costs less overall.

Compare the total annual cost of all policies, including installment fees, using the same coverage. Check whether a discount changes if either policy is canceled or moved.

Our North Carolina bundling guide explains how to compare combined quotes. A standalone renters quote is still useful; evaluate it alongside the separate auto cost.

What you are actually buying for that price

It is worth remembering what the premium covers, because the cost conversation makes more sense next to it: your belongings against 16 named perils, liability protection when you are legally responsible for injuring someone or damaging their property, no-fault medical payments for injured guests, and additional living expenses if a covered disaster forces you out. The full picture is in what Renters Insurance covers.

A covered liability claim can exceed the cost of premiums by a wide margin. Choose protection based on your risks and policy terms, not only the lowest price.

Ways to pay less without buying less

Bundle with your Auto Insurance. Raise the deductible to a level you can genuinely absorb. Ask about discounts for monitored alarms, smoke detectors, sprinklers, and secure entry. Pay annually rather than monthly if the carrier discounts it. And compare more than one company — pricing on a policy this size varies more between carriers than most renters expect.

How The Jordan Insurance Agency helps

The Jordan Insurance Agency can help compare available renters policies and any eligible renters-and-auto discounts. Ask how we are compensated and whether any fee applies before proceeding.

Source: NAIC: 2023 homeowners and renters report, published July 2026. Reviewed September 8, 2026.