The typical price of homeowners insurance in North Carolina is $1,800 per year. In addition to commuters, we also found cheaper than average rates from the North Carolina Farm Bureau and State Farm.
A good homeowners insurance policy should be affordable, reliable, and comprehensive enough for your needs. To find out which insurers offer the best coverage for North Carolina homeowners, we pulled together thousands of homeowners insurance quotes and analyzed policy details from dozens of companies.
best cheap home insurance in north carolina
cheapest homeowners insurance options in north carolina
That makes Travelers 59% less expensive than the average insurer statewide and $222 per year less expensive than the second cheapest option, the North Carolina Farm Bureau.
best for most people: travelers
Travelers stands out as the best North Carolina homeowners insurance option for the typical homeowner. travelers has the best prices in the state. also offers a variety of helpful upgrades for consumers to add to their policies, like water backup protection or replacement cost coverage for their belongings.
Even without upgrades, homeowners with travelers insurance offers enough protection for most people at a price that’s hard to beat. The company’s average fee of $734 per year is the lowest in North Carolina. Travelers’ list of discounts, such as a new homebuyer discount and a green home discount, allow policyholders to lower their prices even further.
however, customer service from travelers gets mixed reviews. Although it receives fewer customer complaints than other insurers of the same size according to the National Association of Insurance Commissioners (NAIC), Travelers received a low customer satisfaction score from J.D. Energy. that means owners can probably find a better customer service experience elsewhere.
Top Rated: North Carolina Agricultural Bureau
For home insurance customers who prioritize excellent service, while still appreciating an affordable rate, we recommend North Carolina Farm Bureau. Although it is the second largest homeowners insurance provider in the state, Farm Bureau maintains a network of agents who are truly local residents. this puts the company in a better position to provide coverage tailored to your local needs.
farm bureau is the second cheapest insurer in the state. its median price of $956 per year is 47% less than the typical price overall in north carolina. however, the farm bureau does not have an online quoting tool, which means owners will need to speak with an agent to compare rates.
the north carolina farm bureau is rated “a” (excellent) for best morning financial strength. this means that it has an excellent financial capacity to pay claims, even at times of high demand for claims, such as after a hurricane.
best for military families: usaa
usaa should be a household name for just about anyone associated with the military, for good reason. usaa’s stellar word-of-mouth reputation has a real basis in numbers. It has an impressively low complaint rate from the National Association of Insurance Commissioners (NAIC). in addition, a financial strength rating a.m. best of a++ indicates that it is highly unlikely that you will default on your claim payments.
In addition to all these signs of quality service, homeowners insurance usa. uu. includes protections for damaged uniforms and replacement cost coverage, a helpful way to replace your lost property for full value. however, usaa is not the cheapest option in north carolina. The average annual premium for a standard ho-3 policy is $1,775, which is slightly cheaper than the state average of $1,800.
usaa is only available to people associated with the usa. uu. military, or have a current or former member of the us. uu. in your family. As long as you meet the eligibility requirements, we recommend USAA as a top option for home insurance and any other financial services you may need, from deposit accounts to loans.
best homeowners insurance companies in north carolina
The top rated homeowners insurance companies in North Carolina are Farm Bureau and USAA. both insurers received perfect scores in our national analysis of home insurance companies. car, series and state farm owners also rated highly.
highest homeowners insurance risks in north carolina
hurricanes are the biggest homeowners insurance concern in any state along the atlantic coast, and north carolina is no exception. each year, homes in the tar heel state suffer millions of dollars in damage from high winds and flooding. However, lightning also causes significant losses to North Carolina homeowners.
To keep your property financially protected in any event, you need to understand the average costs of these risks, as well as the rules homeowners insurers follow when paying for them.
hurricane and flood insurance in north carolina
hurricanes and tropical storms are common events in north carolina, with an average of two tropical storms per year and one hurricane every three years. Since hurricanes and floods can be devastating one year and non-existent the next, the best policy is to have active insurance coverage at all times.
Wind damage from hurricanes and storms is almost always covered as part of your standard homeowners insurance. this includes things like falling roof tiles and uprooted trees. however, you should always confirm this by reading your coverage details. If you live in an area that insurers consider to be high risk, they may exclude wind damage from your base policy and require you to purchase it as additional coverage.
Flood damage, on the other hand, is never covered by standard home insurance. Floods can be extremely costly for insurers when they occur, affecting thousands of insured properties at the same time. If you are in a high-risk flood zone, you should consider obtaining a separate flood insurance policy through the government-sponsored National Flood Insurance Program (NFIP) or a private flood insurer.
lightning strikes in north carolina
Lightning on private property is also responsible for thousands of claims in North Carolina each year.
On average, lightning-related insurance claims cost North Carolina homeowners just over $11,500 per incident. the most serious incidents involve fires caused by lightning strikes, while the most common are power surges that overload electronics and appliances connected to the home.
Homeowners insurance covers most damage that lightning can cause to your property. however, the amount you actually receive from insurance for lightning-related losses depends on your ability to prove the cause of the damage. this may be easier for fires or affected trees than for storm surges.
north carolina home insurance rates by city
By contrast, the cheapest city for homeowners insurance in the state is Hayesville, where an equivalent policy costs just $843 per year.
The cost of homeowners insurance varies depending on where you live. For example, you’ll likely pay more for coverage if your home is near the coast and therefore susceptible to tropical storms, hurricanes, and flooding.
If you’re curious about how North Carolina premiums compare to home insurance rates in the rest of the country, you should start by understanding the state’s unique rate-setting process. While most other states require insurance companies to submit proposed rate changes individually, the North Carolina Rate Bureau (NCRB) fills that role in the Tar Heel state. The NCRB represents all North Carolina property insurers and proposes annual rate changes (almost always increases) that must be approved by the state insurance department.
Our survey of North Carolina homeowners insurance quotes included estimates from eight of the state’s largest insurers. For each business, we collect quotes from every zip code in the state. The sample property we use in all listings was built in 1985 and insured at $183,000, the median age and value of owner-occupied homes in North Carolina.
Specific insurers we covered included:
To determine the best homeowners insurance companies in North Carolina, we consulted data from the National Association of Insurance Commissioners, J.D. power and a.m. best, along with internal research and analysis.
Our analysis used insurance rate data from Quadrant Information Services. We obtained these rates publicly from insurer filings, which means they should only be used for comparison purposes. the rates you request for your own coverage may be different.