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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. 

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:
  1. Rates by insurer
  2. Rates by coverage amount
  3. Rates by ZIP code
  4. Rates by deductible amount
  5. 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.

 
AFFORDABLE HOME INSURERS IN RALEIGH
Company Average Annual Rate
North Carolina Farm Bureau $82,740
State Farm $119,280
Liberty Mutual $141,246
Erie $185,052
Metropolitan $189,714

 

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
$100K Dwelling $525
$200K Dwelling $844
$250K Dwelling $1,061
$400K Dwelling $1,532

 

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
27603 $1,263
27601 $1,263
27604 $1,263

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
27601 $1,263
27604 $1,263
27605 $1,263

 

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
$500 $1,225
$1,000 $1,061
$1,500 $984
$2,000 $831
$5,000 $732

 

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)
GEICO $567
State Farm $620
North Carolina Farm Bureau $758
Erie $795
AmTrust NGH $879

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Ross Martin photo
Ross MartinManager, Content Quality

As a licensed insurance agent, Ross researches and writes insurance content intended to help users make informed decisions.

Ross's background is in writing and education. He holds a master's degree from Royal Holloway, University of London.

Ross's work has been cited by The New York Times, Investopedia, The Simple DollarThe BalanceCar and Driver and Fox Business. He has been quoted by CNET, I Drive Safely and Kin Insurance

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.