Raleigh, NC Homeowners Insurance

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.

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.


Raleigh, North Carolina, home insurance — table of contents:
  1. Rates by insurance company
  2. Rates by coverage level
  3. Rates by ZIP
  4. Rates by deductible level
  5. Insurance bundle discounts

Homeowners insurance in Raleigh by insurance 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, at just $82,740 per year. This compares favorably to 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 companies in Raleigh, North Carolina.


CHEAP HOMEOWNERS INSURERS IN RALEIGH
CompanyAverage Annual Rate
North Carolina Farm Bureau$82,740
State Farm$119,280
Liberty$141,246
Erie$185,052
Metropolitan$189,714

Average home insurance prices in Raleigh by coverage amount

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.


HOMEOWNERS INSURANCE RATES IN RALEIGH — POPULAR COVERAGE LIMITS
Coverage LevelAverage Annual Rate
$100K Dwelling$525
$200K Dwelling$844
$250K Dwelling$1,061
$400K Dwelling$1,532

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Raleigh homeowners insurance prices 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 AREAS FOR HOMEOWNERS INSURANCE IN RALEIGH
ZIP CodeAverage 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 AREAS FOR HOMEOWNERS INSURANCE IN RALEIGH
ZIP CodeAverage Annual Home Insurance Rate
27601$1,263
27604$1,263
27605$1,263

Home insurance deductibles in Raleigh

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.


HOMEOWNERS INSURANCE COSTS BY DEDUCTIBLE LEVEL IN RALEIGH
Deductible LevelAverage Annual Home Insurance Rate
$500$1,225
$1,000$1,061
$1,500$984
$2,000$831
$5,000$732

Money-saving tip for home and auto insurance in Raleigh: bundling

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 AUTO INSURANCE RATES WITH A POLICY BUNDLE IN RALEIGH
CompanyAvg. Annual Auto Insurance Rate (With Bundle)
GEICO$567
State Farm$620
North Carolina Farm Bureau$758
Erie$795
AmTrust NGH$879

It's definitely worth considering bundling both your auto and home policies as a potential way of saving money.


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Ava Lynch LinkedIn

Based in Austin, TX, Ava has been in the insurance industry as a licensed agent for 4-plus years. Ava is currently one of The Zebra’s resident property insurance experts and has been featured in publications such as US News Report, GasBuddy, and Yahoo! Finance.