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How to find affordable homeowners insurance in Raleigh
Home insurance is an important investment for any homeowner. Along with your personal property, homeowners insurance covers your dwelling against many different perils, including fire, wind damage, vandalism, and theft. Given the relatively frequent occurrence of these incidents and the substantial cost of replacing a home, a homeowners insurance policy is a solid investment. Raleigh, North Carolina homeowners pay a monthly average of $105 for home insurance. This is less than the national average.
What you pay for homeowners insurance factors in variables such as the cost of building materials, the value of your personal belongings, and the overall value of the primary dwelling. The location of your home also contributes to the price of your homeowners insurance policy. In areas prone to perils like hail, frozen pipes, volcanoes, or fire, home insurance rates may be higher to account for the extra risk. Learn more information about the specifics of home insurance coverage.
Finding the cheapest home insurance in Raleigh starts with shopping around and comparing policies. Take a look at the summary below showing average Raleigh homeowners insurance premiums to ensure you start your search with as much background info as possible. One thing to note is that the yearly cost of home coverage is determined based on your chosen coverage limits as well as a number of other rating factors.
Table of contents:
- Rates by insurer
- Rates by coverage amount
- Rates by ZIP code
- Rates by deductible amount
- Policy bundling savings
Raleigh home insurance by company
Raleigh homeowners insurance rates will vary depending on which insurance company you choose. North Carolina Farm Bureau offers the most affordable home insurance in Raleigh, coming in lower than the city’s average homeowners premium of $1,263.
To get started with your homeowners insurance policy search, take a look at this list of the cheapest home insurance companies in Raleigh, North Carolina. Then, see our list of which home insurance carriers ranked best for customer satisfaction.
AFFORDABLE HOME INSURERS IN RALEIGH
|Company||Average Annual Rate|
|North Carolina Farm Bureau||$82,740|
Raleigh homeowners insurance prices by coverage level
How much you spend on home insurance coverage is greatly influenced by the level of coverage you choose. Homeowners in Raleigh who carry $200K in dwelling coverage pay an average of $844 per year, while those with coverage up to $400K pay around $1,532 per year.
POPULAR COVERAGE LIMITS IN RALEIGH
|Coverage Level||Average Annual Rate|
Raleigh home insurance rates by ZIP code
Not every area of Raleigh has equal home insurance costs. One of the factors that insurers use when pricing your policy is the number of claims filed in your surrounding area. As such, your neighborhood's location can drastically influence your home insurance premium.
To find the most affordable home insurance premiums in Raleigh, look no further than 27603. In the 27603 area, homeowners coverage usually costs just $1,263 per year — a full $0 less than the Raleigh average. The below table shows the best places to live in Raleigh if you’re looking for affordable homeowners insurance.
AFFORDABLE HOME INSURANCE AREAS IN RALEIGH
|ZIP Code||Average Annual Home Insurance Rate|
Other areas of Raleigh, it should be noted, face homeowners rates that are higher than the city average . Fire risks, crime rates, and even your how close you are to emergency services could lead insurance companies to see certain neighborhoods as higher risk, which could drive up area rates. The most expensive ZIP code for homeowners insurance in Raleigh is 27601, where the average annual rate is $1,263.
EXPENSIVE HOME INSURANCE AREAS IN RALEIGH
|ZIP Code||Average Annual Home Insurance Rate|
Raleigh homeowners insurance deductibles
One of the decisions that you will make when buying a homeowners insurance policy is where to set your deductible. A deductible is the amount for which a homeowner is responsible before an insurance company steps in to cover costs. Choosing your deductible can have a major impact on how much you pay for insurance.
Put simply, having a higher deductible translates to cheaper insurance premiums. Therefore, you may want to think about setting a higher deductible if you aim to pay lower home insurance premiums. Remember that your deductible should not be set at an amount that you would have difficulty paying in the event of a loss.
The chart below illustrates the typical premiums associated with deductibles offered by most home insurers.
HOME INSURANCE PREMIUMS BY DEDUCTIBLE LEVEL IN RALEIGH
|Deductible Level||Average Annual Homeowners Insurance Rate|
Home and auto insurance bundling in Raleigh
If you’re searching for ways to save on your overall insurance costs, consider purchasing your home and auto policies from the same insurance company. Bundling your homeowners and auto insurance can be a good money-saving option. Bundling policies in Raleigh could, in fact, lead to average annual savings of 6%.
CHEAPEST CAR INSURANCE RATES WITH HOME BUNDLE IN RALEIGH
|Company||Avg. Annual Auto Insurance Rate (With Bundle)|
|North Carolina Farm Bureau||$758|
Compare quotes on Raleigh, NC home insurance today!
About The Zebra
The Zebra is not an insurance company. We publish data-backed, expert-reviewed resources to help consumers make more informed insurance decisions.
- The Zebra’s insurance content is written and reviewed for accuracy by licensed insurance agents.
- The Zebra’s insurance content is not subject to review or alteration by insurance companies or partners.
- The Zebra’s editorial team operates independently of the company’s partnerships and commercialization interests, publishing unbiased information for consumer benefit.
- The auto insurance rates published on The Zebra’s pages are based on a comprehensive analysis of car insurance pricing data, evaluating more than 83 million insurance rates from across the United States.