Finding the Best Homeowners Insurance in North Carolina
With over two thousand insurance providers nationwide, finding the best homeowners insurance for your North Carolina property can be difficult. But you need homeowners insurance to protect yourself and your belongings in the event of a covered incident. Shopping around for quotes and comparing policy packages is the best way to find cheap homeowners insurance in North Carolina. You can get a North Carolina homeowners insurance quote by calling your local providers and giving them some basic information about your property and your lifestyle; they can then give you an estimated quote for your homeowner's insurance plan. Some companies have online tools that can give you a quote in minutes and others have mobile apps that let you buy a plan then and there without involving a clerk. We have listed some key things to keep in mind when negotiating your homeowner's insurance deal to ensure that you get the policy you need for the right price. Many factors affect the estimated price of your yearly North Carolina homeowners insurance, so we’ve made it our goal to help make the homeowner's insurance purchasing process as uncomplicated as possible. Keep reading to find out how you can get the best deal on your homeowner's insurance.
| North Carolina Homeowners Insurance Cost Broken Down | Rates |
|---|---|
| Yearly Cost of Homeowners Insurance in North Carolina | $1,316.00 |
| Costs Per Month for Homeowners Insurance in North Carolina | $109.67 |
How Much is Homeowners Insurance in North Carolina
Finding the best homeowners insurance in North Carolina doesn’t have to be difficult. Homeowners in North Carolina pay less on average on their insurance premiums when compared to other states because of many factors; however, if you live in a high-risk location, you may find yourself paying more to protect your home. For example, if you live near a beach, you may be more susceptible to peril than if your home is located in an urban area. Other factors that can affect your homeowner's insurance price include the crime rate in your area, the deductible you select for your policy, the age of your home, your home's ability to withstand potential perils, and the dollar amount of your coverage plan. You can influence the price by adding additional coverage, adding safety features to your property, or creating a bundle of two insurance policies from the same insurer. The cheapest homeowners insurance in North Carolina is available in Asheville, with the average homeowner's insurance policy at only $80 per month or $1,006 per year. In contrast to this, Cary's homeowners spend a quarter of their income on housing. With premiums averaging at $1516 a year, Cary is the most expensive city in the state for homeowners insurance. However, the average cost of home insurance with flood protection in North Carolina represents about 3% of the typical homeowner's housing expenses meaning insuring your home is affordable in North Carolina.
| City in North Carolina | Monthly Costs | Yearly Costs |
|---|---|---|
| Charlotte, NC | $69.25 | $831.00 |
| Raleigh, NC | $69.67 | $836.00 |
| Greensboro, NC | $64.33 | $772.00 |
| Durham, NC | $69.25 | $831.00 |
| Winston-Salem, NC | $64.83 | $778.00 |
| Fayetteville, NC | $93.08 | $1,117.00 |
| Cary, NC | $69.50 | $834.00 |
| Wilmington, NC | $260.25 | $3,123.00 |
| High Point, NC | $65.58 | $787.00 |
| Concord, NC | $67.83 | $814.00 |
| Greenville, NC | $98.33 | $1,180.00 |
| Asheville, NC | $61.17 | $734.00 |
| Gastonia, NC | $70.75 | $849.00 |
| Jacksonville, NC | $178.50 | $2,142.00 |
| Chapel Hill, NC | $66.00 | $792.00 |
| Huntersville, NC | $69.17 | $830.00 |
| Rocky Mount, NC | $80.42 | $965.00 |
| Apex, NC | $69.00 | $828.00 |
| Burlington, NC | $65.33 | $784.00 |
| Kannapolis, NC | $67.58 | $811.00 |
North Carolina Homeowners Insurance Laws
Homeowners insurance in North Carolina is sold as a personal package policy and is designed to cover a variety of perils associated with owning a home. Although homeowners insurance for your property is not required by state law, if your home is mortgaged, your lender may require that you purchase a homeowners insurance plan for your home. This is because a lender needs to protect their investment and a homeowners insurance policy protects both the homeowner and the lender from financial loss in the event of an incident. You should check your mortgage contract to see if you need to buy a homeowners insurance policy. But even if it is not required, we recommend that you buy coverage for your North Carolina property to give you financial security due to the increasing number of natural disasters that happen in the state every year. When shopping, make sure to look for disaster coverage clauses in providers' policy plans. Most providers do not include these in their basic plans and instead supply this type of coverage using an add-on system. Keep in mind that the amount of coverage you get will directly affect your homeowner's insurance premium.
What Does Homeowners Insurance Cover in North Carolina
Most providers in North Carolina have basic plans that include the same type of coverage. Compare these basic coverage options to your potential providers to see if you should look for a plan with more coverage. Dwelling coverage gives you protection for your home and any attached buildings if damaged in a relevant incident. This coverage can include fixtures like plumbing, heating, and permanently installed air-conditioning systems, electrical wiring, and supplies on or adjacent to the residence premises for use in the construction, alteration, or repair of the dwelling or other structures not attached to the dwelling. Personal Property coverage protects the contents of your home and personal belongings. This coverage is limited for certain types of items that are particularly vulnerable to loss, like cash, jewellery, and stamp or coin collections. Loss of Use coverage assists you with additional living expenses if a covered peril damages your home and you cannot reside in your property. Personal Liability and Medical coverage can cover you if a household resident is injured on the property. Still, this coverage does not protect you in all situations, so make sure that you read the fine print in the event of a claim.
| Costs of Home Insurance in North Carolina by County | Monthly Average Costs | Yearly Average Costs |
|---|---|---|
| Alamance County, NC | $65.33 | $784.00 |
| Buncombe County, NC | $61.17 | $734.00 |
| Cabarrus County, NC | $67.71 | $812.50 |
| Cumberland County, NC | $93.08 | $1,117.00 |
| Durham County, NC | $69.25 | $831.00 |
| Edgecombe County, NC | $80.42 | $965.00 |
| Forsyth County, NC | $64.83 | $778.00 |
| Gaston County, NC | $70.75 | $849.00 |
| Guilford County, NC | $64.96 | $779.50 |
| Mecklenburg County, NC | $69.21 | $830.50 |
| New Hanover County, NC | $260.25 | $3,123.00 |
| Onslow County, NC | $178.50 | $2,142.00 |
| Orange County, NC | $66.00 | $792.00 |
| Pitt County, NC | $98.33 | $1,180.00 |
| Wake County, NC | $69.39 | $832.67 |
Top Rated Homeowners Insurance Companies in North Carolina Based on Ratings
The average cost of homeowners insurance in the USA is $1211 a year, but a homeowners insurance policy in the state of North Carolina is lower than the national average at $1037 per anum. Even so, your quote will vary depending on your insurance provider. Nationwide has one of the most affordable insurance policies in North Carolina, with its cheapest coverage starting at $750 per year. They have an online quote tool that makes getting quotes quick and easy. With an A.M. Best Financial Rating of A+, Nationwide can consistently meet its policy and contract obligations. However, their overall customer satisfaction rating from J.D. Power is 3 out of 5, which falls just below the average mark, so you may not be delighted with the customer service you receive from this provider. State Farm has a J.D. Power Score of 4 out of 5. With an A.M. Best Financial Strength Rating of A++ and an NAIC Complaint Index score of 0.35, they are not only able to competently handle your claims, but they are also the provider who is most likely to remain solvent in the event of a natural disaster that may necessitate widespread claim payouts. However, their premiums are also significantly higher than other providers, averaging $1411 per year for homeowner’s insurance coverage. Moreover, they do not provide flood coverage which is essential for residents of North Carolina.
| North Carolina Home Insurance Company | JD Power Rating | NAIC Rating |
|---|---|---|
| State Farm Ratings for Homeowners Insurance in North Carolina | 3/5 | 0.2 |
| North Carolina Farm Bureau Ratings for Homeowners Insurance in North Carolina | N/A | 0.36 |
| Nationwide Ratings for Homeowners Insurance in North Carolina | 3/5 | 0.41 |
| USAA Ratings for Homeowners Insurance in North Carolina | 5/5 | 0.15 |
| Allstate Ratings for Homeowners Insurance in North Carolina | 3/5 | 0.41 |
| Erie Ratings for Homeowners Insurance in North Carolina | 3/5 | 0.17 |
| Liberty Mutual Ratings for Homeowners Insurance in North Carolina | 3/5 | 0.43 |
| Travelers Ratings for Homeowners Insurance in North Carolina | 2/5 | 0.48 |
| Auto-Owners Ratings for Homeowners Insurance in North Carolina | 3/5 | 0.1 |
| Farmers Ratings for Homeowners Insurance in North Carolina | 3/5 | 0.43 |
| American Family Ratings for Homeowners Insurance in North Carolina | 2/5 | 0.66 |
| MetLife Ratings for Homeowners Insurance in North Carolina | 2/5 | 0.22 |
| Universal Insurance Ratings for Homeowners Insurance in North Carolina | N/A | 8.6 |
| Assurant Ratings for Homeowners Insurance in North Carolina | N/A | 1.14 |
| Amica Ratings for Homeowners Insurance in North Carolina | 5/5 | 0.24 |
| UPC Ratings for Homeowners Insurance in North Carolina | 2/5 | 7.02 |
| Cincinnati Insurance Cos. Ratings for Homeowners Insurance in North Carolina | 4/5 | 0.38 |
| Progressive Ratings for Homeowners Insurance in North Carolina | N/A | 0.8 |
| Chubb Ratings for Homeowners Insurance in North Carolina | 3/5 | 0.09 |
| TWIMG Ratings for Homeowners Insurance in North Carolina | N/A | 0.91 |
| Penn National Ratings for Homeowners Insurance in North Carolina | N/A | 0.27 |
How to Lower Homeowners Insurance in North Carolina
With the prices of policies increasing every year, it is important to know how to lower your home insurance premium if you want to save your money. You should consider creating a bundle of your homeowners and auto insurance policies. This can lead to an average yearly discount of $55 which can substantially impact your savings in the long run. Check in each year before your renewal date and ask your agent if you are eligible for any discounts. You may be offered a discount if you have recently installed a burglar alarm system, deadbolt locks, or a smoke alarm. If you are residing in a new build with these features built-in, you may be eligible for these discounts automatically. Another way to lower your premium is to increase your deductible, but if you consider this option, you should think about how much of a loss you can afford to absorb if you have to make a claim. The most effective way to lower your premium is to shop around before you buy. Keep reading to find out how to do this effectively and save money on your homeowner's insurance premium.
Compare Homeowners Insurance in North Carolina Before Buying
Shopping around for estimates on your homeowner's insurance policy is critical if you want to find the best policy for you at the right price. To do this effectively, you should know what insurance coverage you need before you start looking. List what coverage options you need from a provider and what add-ons you are interested in adding to your plan. Then find out how much this coverage will cost from an insurer. Rather than comparing this figure to the national average, compare this price to the average cost of homeowners insurance in your state specifically, so you don’t waste time considering insurers with low national rates but high rates in your state. List the insurers you are interested in, and then compare the provider's plans to find the best one for you. If you are stuck between two providers, contact the companies individually and ask them to give you a personalized quote. Clerks may apply discounts you weren't aware of to get your business.