The Best North Carolina Homeowners Insurance Quotes
Are you in the market for homeowners insurance in North Carolina?
At Insurance Geek, we’re quick to get homeowners set up with the ideal insurance accessible. We link owners with an assortment of offers to secure the least expensive rate, but at the same time, to offer the best insurance possible.
Let’s discover how a North Carolina home insurance policy can help you.
North Carolina Home Insurance: The Basics
From Cape Hatteras to the mountain paradise of Asheville, North Carolina has a lot to offer.
In the past 5 years, high school graduation has increased by 10%, smoking has decreased by 18%, and children in poverty have decreased by 18%. The presence of state and national programs and the commitment of North Carolinians to create the best state possible all helped spurn this boon.
Owner-occupied housing is right around 65%, with fewer populations renting. Depending on where you’re at in North Carolina, home and property value are increasing, so now is a good time to buy.
North Carolina’s homeowners insurance coverage rates are some of the highest values in the nation and not much lower than the national average.
Considering it’s an east coast state alongside Virginia, Maryland, New Jersey, Georgia, and South Carolina, North Carolina does have issues with hurricanes. North Carolina’s hurricanes have caused over $11 billion in damage as of 2008 and are responsible for the deaths of around 1.000 people.
Inland areas also become treacherous during winter snowstorms. Ice and snow have the potential to damage homes or property. Thunder and hail storms in the summer also create issues for homeowners.
In homeowners insurance lingo, a PERIL refers to anything that could cause damage to your home, no matter how significant.
In the event of a covered loss (i.e., damage caused by peril), you can file a claim and receive compensation.
You will usually find which perils are covered on your policy’s declarations page.
To get the best coverage, it is important to be protected from the most prominent perils in North Carolina, such as:
- Drain and sewer backup
Before your homeowners insurance companies pay out, you have to make the payment that is called the deductible. The deductible is the amount of money you’ve previously agreed upon paying out of your pocket.
Clients interested in a lower premium for their coverage pay a higher deductible or vice versa.
So, when discussing the policy features with your insurance agent of choice, you will decide to pay more upfront or later on. Make sure that you mention this when shopping for home insurance in North Carolina.
How are Premiums Determined in North Carolina?
Home insurance rates in North Carolina vary from insurance company to insurance company.
With such differences, the other factors that affect the average cost and home insurance rates that you get oscillate wildly, but there is a common understanding about what can affect your coverage.
To break it down to essentials, how much your home insurance costs can be affected by:
Value of your home;
Home insurance rates depend on the value of your home.
All the factors (age of your home, the materials utilized in its build, to its current state) affect the home insurance rates in North Carolina.
This amount is commonly known as the replacement cost coverage in the lingo of homeowners insurance. Replacement cost is the specific amount of money that it would take for your home to be rebuilt or repaired if the need arises.
The distance from the fire station or a fire hydrant can affect your premium price, too. If you live near it, your premium will be lower.
Your credit rating;
While it is not the only factor affecting the home insurance rates in North Carolina, your credit score does hold a lot of weight over it. A good credit score can lower the rates significantly.
If you have an untidy credit record, you should pay more attention to paying your debts on time and being more punctual with your payments to show your insurance company that you are a reliable and stable customer.
Whether or not you’ve filed a claim before;
Previously filed claims for your property reflect that it is a potentially high risk. Therefore, many companies are inclined to give you a higher premium on account of the claims history.
Auto credit and other discounts.
In addition to homeowners insurance, you can bundle home policies with other kinds of policies (life and auto, for example) with one company and get significant discounts on your homeowners insurance premium.
There is also a home buyer discount and pay in full discount.
We will help you find the best homeowners insurance and save up!
What is the Best Option for Home Insurance in North Carolina?
Homeowners insurance companies offer a plethora of different insurance coverage options and policies.
For your convenience, we’ve broken this complexity down to its essence. In general, you can get two types of homeowners policies:
A NAMED home insurance policy includes only the perils explicitly included and stated within the policy itself, with no other possibilities open.
From our experience, customers usually get this kind of coverage to patch the missing fields of their existing policy (e.g., get a separate windstorm or hail policy if those perils haven’t been already covered). However, make sure to talk to your agents, as your situation might be wholly different in itself.
ALL PERIL Policy
If you want peace of mind from all the types of homeowner perils, an ALL PERIL policy might be the right way to go.
This type of policy will keep you safe and covered from all the above-mentioned perils relevant to the state of North Carolina, as it covers those perils unless they are specifically and explicitly omitted.
Because of its inclusivity, we recommend this type of coverage at all times and get protected for every covered loss.
Get Home Insurance Quotes Today
With many different nuances, getting the best homeowners insurance seems a tad complex, doesn’t it?
Insurance Geek has your back, as we have decided to help you grasp the idea of homeowners insurance in North Carolina. We also aim to help you find the most affordable homeowners insurance rates and connect you to the best and most suitable home insurance company in North Carolina.
Being a licensed insurance producer, we at Insurance Geek are happy to say that we work with more than 30 insurance companies.
The competitive pricing tool that we developed has been of great help to North Carolina homeowners.
Wondering how we manage to do so?
The only thing you need to do in order to compare homeowners insurance rates from multiple providers and get the cheapest homeowners insurance is to enter some basic information – the ZIP code in North Carolina and your full address.
Insurance Geek agents closely work with insurance carriers using the Fat Agent App to provide the best homeowners insurance for you.
Your average premium is affected by claim history, multiple household lines of insurance, auto credit ad discounts, insurance credit score, dwelling value, and more.
Keep in mind that there exist various discounts that you can score. Each client has different needs, so make sure to talk to our agents and let them know about your specific concerns.
We work closely with carriers to find you the best deal possible and the cheapest provider! Let’s talk about your specific situation and how we can help you!
Top Cities & Metro Suburbs in North Carolina for Homeowners
Our clients from North Carolina come from each corner of the state.
The biggest cities are no exception, either:
And it is always good to keep in mind that the average cost of homeowners insurance in North Carolina is significantly lower if you chose to situate yourself in the suburbs. Many high-value homes of local residents are located in the suburbs.
See the top suburbs in North Carolina:
- Chapel Hill
- Wake Forest
- Biltmore Forest
- Holly Springs
- Oak Ridge
We work with Nationwide, Safeco, and Progressive to provide you with the most cost-effective home insurance rates in North Carolina. All of these insurance companies are licensed by the North Carolina Department of insurance.
Who Should Get North Carolina Homeowners Insurance?
Whether your homeowners status is a newfound one or not, you should definitely have home insurance to aid you in protecting both yourself and your property from any potential damages that can occur.
Existing homeowners know that home insurance can not only be beneficial but can relieve the stress in a time of extreme need.
State laws do not mandate home insurance in North Carolina, but homeowners across North Carolina should be properly insured and safe.
You might not even be sure what exactly you are looking for those among you that are new homeowners.
Existing homeowners who know the ropes of insurance companies perhaps want to switch their policies, get some extra coverage or change their carrier. The bottom line is, you want to keep your investments and hard-earned money safe.
With that being crystal-clear, on your road to financial stability, make sure to make one essential stop and get adequate home insurance within a trusted home insurance company.
It is also imperative to state that the majority of mortgage lenders will require homeowners, new or not, to have home insurance as proof that the home can be rebuilt.
What Does Home Insurance Coverage Include?
Home insurance coverage options vary from state to state and from company to company, so there is no “easy” answer to the aforementioned question.
However, some parts of the standard coverages and often recommended by the home insurance company.
The coverage details are excessive but can be broken down in order to see what fits in a policy.
Here’s what you might see if you examine your average home insurance policy:
- Coverage A – Dwelling Coverage
Dwelling coverage or dwelling amount covers the physical structure of your home.
It has coverage limits that should be founded on the replacement cost coverage of your home, thus making sure that the entire rebuild is possible in the event of need.
- Coverage B – Separate Structures
Your dwelling coverage does not include the structures that exist outside of the structure of your home.
That is why your homeowners insurance policy has separate structure coverage to help you cover the cost of these outside structures. They can include mailboxes, attached garages, fences, sheds, etc.
- Coverage C – Personal Property
Personal property coverage acts as a shield for your personal property items, i.e., personal belongings. If you wonder what falls under this category – things that are inside your house, from clothes to furniture and appliances.
Should you need additional protection for the valuables that do not fit into the coverage limits of the policy (antiques, heirloom, jewelry, etc.), you’ll be able to choose between carefully curated add-on coverage.
Safeco, a Liberty Mutual insurance company, offers a Valuable Articles Coverage, Nationwide’s solution comes in the form of a Valuables Plus plan, while Progressive has a separate limit for the valuables that exceed the limit.
- Coverage D – Loss of Use
This portion of your insurance policy kicks in if you are unable to utilize your home for a longer period of time.
Loss of use can help you cover the additional expenses and bills that pile up while you are staying elsewhere during, say, home reparations or rebuilding.
- Coverage E – Personal Liability
Personal liability coverage is there to cover you should you be found legally bound to the caused damages or when there is a suit being brought against you. This part of your insurance can cover the legal fees.
Personal liability insurance is there for you, but also not only you. You’ll be pleased to know that this portion of your insurance protects your family members should the occurrence arise.
- Coverage F – Medical Payments
The Medical Payments portion of your home coverage makes sure that you receive compensation for medical expenses in the event of someone being injured while on your property (for example, ambulance transportation, getting an X-ray, and so on).
What Isn’t Included in Your Home Policy?
Under certain circumstances, your home insurance cannot be of much help. Through your insurance company of choice, you can purchase additional policies or other products to cover your needs fully.
Let’s examine the additional coverage options that you can make use of, as well as the most customer-approved insurance products to consider:
Auto Insurance (Car Insurance)
Home and auto insurance are the winning combinations for any newbie.
Vehicle owners know just how important it is to keep one of the most valuable possessions secure, which is why car insurance or auto insurance – however you call it – is one of the most popular products in addition to homeowners insurance.
Find out all about your auto insurance options and estimate the cheapest quotes available using our quote tool here.
It is of utmost importance to mention that flood insurance is not a valid part of your standard coverage option but that you’d need to purchase a separate flood insurance policy. Flood insurance policies are purchased solely through the National Flood Insurance Program, and they cover flood damage.
However, our partner carriers, Safeco, a Liberty Mutual company, Progressive, and Nationwide offer protection against water-related damages at a great price.
These add-on policies make sure that you are protected in case of sewer and drain backup, as well as sump pump failure. Water and flood damage is one of the most commonly occurring disasters (22%, according to the Insurance Information Institute), so it is always a wise choice to consider.
In addition to home and auto insurance, customers consider life insurance one of the best investments.
Make sure to see all the products that our partner carriers offer, with whole life insurance policies leading as the most favored among our customers.
In order to better grasp the differences and similarities between term and whole life insurance, you should move over to our article on article on term vs. whole.
Our quote calculator tool allows you to compare multiple quotes and calculate the price of your rates and which options suit you the most.
In addition to life, home, and auto insurance, there are many different insurance products created to fit loyal customers’ needs.
Insurance Geek agents will eagerly help you navigate the many options and help you pick the best among them.
Property-casualty insurance products like windstorm and hail coverage will keep you safe against natural disasters. At the same time, you should add coverage that protects you from identity theft as it is one of the most affordable (and necessary!) options on the market.
While being generally more affordable and accessible, cheaper insurance products such as equipment breakdown coverage can help you save your hard-earned money.
Home Insurance in North Carolina: FAQ
Q: How much is homeowners insurance in North Carolina?
A: North Carolina homeowners spend around $1,515 annually on their home insurance. While being slightly above the national average, North Carolina homeowners insurance is still considered to be generally affordable. All things considered, the specific cost of your homeowners insurance is closely related to different factors (such as your credit report, the condition of your home, discounts, etc.). To estimate how much you would pay for homeowners insurance, make sure to use our tool on this page.
Q: What are the best home insurance companies in North Carolina?
A: Looking for the best insurance company in North Carolina (as well as in other states) is not an easy task to undertake. After a deep dive into the market along with a steady course of client experience, Insurance Geek employees vouch that the top home insurance companies are Nationwide, Safeco, and Progressive. With a variety of insurance products and specifically tailored rates and quotes, these companies have enjoyed an outstanding reputation. The J.D. Power rating that they have solidifies the answer to the question.
Insurance Geek strives to find you the best home insurance products available.
To look into your various insurance options and see what fits you best, make sure to use our comparison tool in order to compare quotes from different insurance companies.
We aim to secure the cheapest homeowners insurance option for your specific situation and your individual needs. Stop worrying about your future and find a stable pathway towards stability with the help of our Insurance Geek agents!