North Carolina homeowners insurance: what you need to know
The average annual cost of home insurance in North Carolina is $1,166 ($97/month). While this is better than what the average American homeowner pays, North Carolinians can save more by viewing prices from as many insurance companies as possible.
Unlike car insurance, homeowners insurance isn't controlled by state legislation. Even so, major gaps exist in home insurance rates on a state-by-state basis including North Carolina. Policy prices in states can vary based on the total number and value of homeowners claims filed in that particular state, and depend on the value of the belongings and structures covered by the policy.
Learn home insurance rates in North Carolina by reviewing the below data. Remember: your rates will vary, depending on your coverage limits.
Table of contents:
- Rates by company
- Rates by coverage amount
- Rates by deductible amount
- Rates by city
- Bundling savings
- Frequently asked questions
- Natural disaster coverage
The cheapest home insurance companies in North Carolina
Homeowners insurance rates in North Carolina differ based on the insurance company you choose. Safeco offers the best deal on home insurance in North Carolina, at just $659 yearly. This compares favorably to the state average cost of $1,166, providing a $507 price break on rates typical to the state.
Begin your search for affordable homeowners coverage by reviewing the best North Carolina insurance companies, listed below. Or, check out the results of The Zebra's Customer Satisfaction Survey featured in our guide to the best home insurance companies.
AFFORDABLE HOME INSURERS IN NORTH CAROLINA
| Insurance Company | Average Yearly Rate in North Carolina |
| Safeco | $659 |
| North Carolina Farm Bureau | $1,249 |
| Liberty Mutual | $1,297 |
| State Farm | $1,443 |
| Nationwide | $1,841 |
North Carolina home insurance prices by coverage levels
The level of home coverage you select has an impact on your insurance premiums. In North Carolina, maintaining $100K dwelling coverage costs an average of $706 per year, while carrying dwelling coverage up to $400K costs $2,071 per year.
POPULAR COVERAGE LIMITS IN NORTH CAROLINA
| Coverage Level | Average Annual Cost |
| $100,000 Dwelling | $706 |
| $200,000 Dwelling | $1,166 |
| $250,000 Dwelling | $1,430 |
| $400,000 Dwelling | $2,071 |
Homeowners insurance deductibles in North Carolina
Homeowners have a lot of choices to make when deciding on a homeowners policy, including how high or low to set their deductible. The deductible is the total amount that the insured contributes toward a covered loss. Where you set your deductible can play a significant role in the cost of your insurance coverage.
In short, having a higher deductible leads to lower insurance premiums. Therefore, consider a higher deductible if you aim to lock in lower home insurance premiums. Remember that your deductible should only be set as high as you can reasonably afford in the event of a covered loss.
The chart below displays the average premium costs associated with standard homeowners deductibles.
HOME INSURANCE PREMIUMS BY DEDUCTIBLE IN NORTH CAROLINA
| Deductible Tier | Average Annual Homeowners Insurance Rate |
| $500 | $1,633 |
| $1,000 | $1,430 |
| $1,500 | $1,330 |
| $2,000 | $1,124 |
| $5,000 | $976 |
North Carolina homeowners insurance costs by city
Home insurance rates in North Carolina vary depending on the city. Rates depend on locally specific variables such as the number of claims filed in the immediate area, meaning your specific ZIP code impact how much you pay.
The best home insurance rates in North Carolina are available in Alexander. An average home insurance policy in Alexander costs $863 each year — $303 less than the average homeowners policy in other North Carolina cities. The below cities have the most affordable homeowners insurance in North Carolina.
Check out our breakdown of home insurance rates in major North Carolina cities:
Home and auto insurance bundling in North Carolina
If you want to save, consider purchasing both your homeowners and auto insurance policies from one company. Bundling homeowners and auto insurance in North Carolina can save you a substantial sum each month on auto insurance. Bundling policies in North Carolina leads to yearly savings of $55.
HOME AND AUTO BUNDLING DISCOUNTS IN NORTH CAROLINA
|
Avg. Annual Rate (No Bundle) |
Avg. Annual Rate (w/ Bundle) |
Annual Savings ($) |
Annual Savings (%) |
| $939 | $884 | $55 | 6% |
North Carolina homeowners insurance FAQs
Is homeowners insurance required by law in North Carolina?
Your mortgage will require homeowners insurance, but there is no legal mandate to have this coverage in any state, unlike car insurance.
Does GEICO have homeowners insurance in North Carolina?
Yes - GEICO offers homeowners insurance coverage for homes located in North Carolina.
Natural disaster coverage in North Carolina
Does homeowners insurance cover hurricanes in North Carolina?
Because hurricanes can cause devastating destruction and demolish structures altogether, insurance companies remain hesitant to assume the full risk of hurricanes as a whole. If you live in North Carolina, you could face an increased risk of suffering hurricane damage. In fact, 32,282 single-family residences are exceptionally vulnerable to hurricane damage in North Carolina.1
If you live near the coast, it's essential to verify the details of your homeowners insurance policy because a basic home policy won't be sufficient to cover the costs of repairing damage caused by hurricanes — you would need separate windstorm and flood insurance policies, which would work together to cover repairs or replacements. Depending on your location, your insurer may make it compulsory to have a separate hurricane deductible if you reside in an area that's at high risk for hurricanes.
HURRICANE DEDUCTIBLE RATES IN NORTH CAROLINA
| Company | Average Annual Rate w/ Hurricane Deductible |
| Nationwide | $587 |
| North Carolina Farm Bureau | $803 |
| Liberty Mutual | $805 |
| USAA | $842 |
| Erie | $1,034 |
Does homeowners insurance cover flooding in North Carolina?
Damage via flooding, whether from a hurricane or a downpour, is not covered by homeowners insurance. In order to insure your home against flood damage, buy insurance through FEMA's National Flood Insurance Program (NFIP) or via a private insurance company.
Coverage details from private insurance companies vary. If you purchase flood insurance through NFIP, you'll receive:
- $250,000 coverage for your home's structure
- $100,000 coverage for your personal property
If the value of your personal property and home exceeds these limits, consider purchasing a flood insurance policy from our partners at Neptune for additional protection.
Flood insurance is a necessity for many homeowners in North Carolina, which paid out $9, 444,694 in flood insurance claims in 2016, according to the Federal Emergency Management Agency.2
Sources:
1Insurance Information Institute
2Federal Emergency Management Agency (FEMA)