Cheapest and Best Homeowners Insurance in North Carolina as Rated by Customers in 2023
As a homeowner, you probably don't want to think about something damaging your home and requiring a homeowners insurance claim. However, you have to be prepared because, unfortunately, there are a number of things that may lead to a claim ranging from storm damage to a break-in or an injury to a third party. You want to be sure you have one of the best North Carolina homeowners insurance companies to protect your home.
To help you be more confident in your homeowners' insurance company, we have reviews and rankings for hundreds of homeowners insurance companies so you can evaluate and compare the best North Carolina home insurance companies. In the table above, you can sort through every homeowner's insurance company ranked on Clearsurance. Next to each insurer, you'll find the company's rating, which is based exclusively on the reviews and ratings provided by customers. Note: Only those companies with at least 25 homeowners insurance reviews are eligible to appear in the rankings of the best North Carolina homeowners insurance companies.
It's important to know as much as you can about a company and their policies before signing on with them. Make sure you ask questions to fully understand what they can offer you. Important things to ask about including the average cost of their quotes, what additional coverage they offer, if they have any bundling discounts, what their standard home insurance is, and what their policies entail. Make sure you know how much coverage you have to cover property damage, and if you have replacement cost coverage. A conversation with an experienced, licensed insurance agent should answer these questions.
If you're looking for additional information on one of these highly-rated homeowners insurance companies in North Carolina, you can visit the company's profile page where you'll learn about the company, additional coverages, and potential discounts offered. You can also read reviews to see what other policyholders have to say about the home insurance company.
On this page:
- Best homeowners insurance rates in North Carolina for a $200K dwelling
- Best homeowners insurance rates in North Carolina for a $400K dwelling
- North Carolina property crime statistics
- North Carolina disaster statistics
Among the five companies analyzed, Nationwide offers the cheapest home insurance rates on average for a $200K North Carolina Home. You can compare average homeowners insurance rates in North Carolina for five companies in the table below for a $200K home.
|Company||Average rates for $200K dwelling|
|North Carolina Farm Bureau Mutual Insurance Company||$853|
|State Farm Insurance Company||$1,067|
These rates are based on a $200,000 dwelling with the following coverage limits: $100,000 personal property, $20,000 loss of use, $20,000 other structures, $300,000 liability and $5,000 medical. The policy has a $1,000 deductible. The house used for the profile was constructed in 2004 and the individual had a good insurance score. The rates displayed should only be used for comparative purposes as individual rates in North Carolina will differ. Rate data is provided by Quadrant Information Services.
Of the five companies analyzed, North Carolina Farm Bureau has the cheapest average homeowners policy rates for a $400K home in North Carolina. Wondering which home insurance company offers the cheapest homeowners insurance rates for a $400K home in North Carolina? In the table below, you can compare average home insurance rates in North Carolina for five insurers.
|Company||Average rates for $400K dwelling|
|North Carolina Farm Bureau Mutual Insurance Company||$1,499|
|State Farm Insurance Company||$1,844|
These rates are based on a $400,000 dwelling with the following coverage limits: $200,000 personal property, $40,000 loss of use, $40,000 other structures, $300,000 liability and $5,000 medical. The policy has a $1,000 deductible. The house used for the profile was constructed in 2004 and the individual had a good insurance score. The rates displayed should only be used for comparative purposes as individual rates in North Carolina will differ. Rate data is provided by Quadrant Information Services.
Theft and vandalism or malicious mischief are among the 16 perils a standard homeowners insurance policy protects you from. So, how does crime in North Carolina compare to other states around the country? The FBI published the following statistics on crime in North Carolina for 2016:
- Property crime - 277,765
- Burglary - 72,082
- Larceny theft - 190,377
When compared to the national average rate per 100,000 inhabitants, all three crime statistics for North Carolina rank above the national average. It is important to know whether or not your home insurance policy protects against crime, most policies do.
Weather-related incidents are typically among the costliest homeowners insurance claims. FEMA has published statistics for each state since 1953. Data is updated through August 2018. Here’s a look at the North Carolina federally declared disasters since 1953:
- Hurricane - 25
- Flood - 8
- Severe storm - 8
- Fire - 4
- Severe ice storm - 4
- Snow - 4
- Tornado - 4
- Mud/Landslide - 1
It is important to know if your homeowners' policy has protection such as flood insurance and earthquake insurance. Most insurance plans do however, you can add these coverages to your plan if they are not originally offered.
How are homeowners insurance rates calculated in North Carolina?
Ever wonder why you pay what you do for your home insurance quote? Some things may be obvious, like the age of your home. But other factors that contribute to the price of homeowners insurance in North Carolina may not be as obvious. Here's a list of some of the things homeowners insurance companies consider when quoting you a rate:
- The level of coverage required
- The size of your mortgage
- Your credit score
- The square footage of your home
- The geographic location of your home in North Carolina
- The condition of your home
- The age of your home
- The proximity of your home to a fire station
- Your previous claims record
- The amount of your deductible
- Optional add-ons like umbrella insurance
Zillow estimates that homeowners can expect to pay approximately $35 each month for every $100,000 of your home's value.
The average cost of homeowners insurance in North Carolina is quite similar compared to the national average annual premium. Homeowners should be aware of the weather conditions when looking for home insurance. Severe weather events such as wind damage or flooding, and hurricanes may cause home damage or loss. Besides hurricanes and tropical storms, North Carolina is prone to frequent hail storms, tornadoes and other windstorms. The most common causes of loss in this state include: accidental injury experienced by others, hail damage, wind damage, theft and burglary, hurricane and flood damage, fire and lightning.
If you carry the appropriate coverage, your home insurance in North Carolina should provide dwelling coverage, personal property coverage, liability coverage and additional living expenses. However, considering the most common causes of loss in North Carolina, there are some additional coverage options that homeowners may choose such as: flood insurance, windstorm and hail, and earthquake damage endorsement.
How does Clearsurance rate and rank the best homeowners insurance companies in North Carolina?
Consistent with its mission towards greater transparency, Clearsurance does not keep its rating and ranking formulas in a black box. Our algorithm analyzes a range of inputs from our independent community of insurance customers, including:
- Customer Service
- Claim service
- Likelihood to renew
The algorithm also takes into account the percentage of what customers say the company does well vs. the percentage of what customers say the company could do better.
The Clearsurance customer ratings and rankings are derived entirely from customer reviews and ratings.
Homeowners Insurance Guide
Your home is likely your most valuable asset, making it that much more important that you insure your home with one of the best North Carolina homeowners insurance companies. But beyond just picking a company, it's crucial to have the right coverage and to understand that coverage. Did you know that a standard homeowners insurance policy has six types of coverage? And did you know that there are usually 16 types of perils found in a homeowners insurance policy? Make sure you understand what insurance products you are purchasing from the company, and what your policy does and does not cover.
At Clearsurance, we want to make sure you have a strong understanding of your homeowners insurance coverage and what it all means. Check out our homeowners insurance guide to become a smarter insurance customer. And for more educational content on other homeowners insurance topics, check out our homeowners insurance blog!
Frequently Asked Questions
Who offers the best homeowners insurance rates in North Carolina for a $200K home?
Among the five companies analyzed, Nationwide offers the cheapest home insurance rates on average for a $200K North Carolina Home.
Who offers the best homeowners insurance rates in North Carolina for a $400K home?
Of the five companies analyzed, North Carolina Farm Bureau has the cheapest average homeowners insurance rates for a $400K home in North Carolina.