Winston-Salem, NC Homeowners Insurance

Winston-Salem residents pay around $93 a month for home insurance. Are you paying too much?

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Find cheap home insurance in Winston-Salem

 

Home insurance is a critical element of homeownership. Fire, vandalism, theft, and wind damage are just some of the perils from which homeowners insurance can protect your dwelling and personal property. Given the relatively frequent occurrence of these incidents and the substantial cost of replacing a home, homeowners coverage 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 frozen pipes, hail, windstorms, or wildfires, home insurance rates may be higher to account for the extra risk. Learn more information about the specifics of home insurance coverage.

If you want to find cheap home insurance in Winston-Salem, North Carolina, start with looking around and comparing different policies. Check out the below summary of average home insurance rates in Winston-Salem to help you get as much information as possible when you start your search for homeowners insurance. One thing to note is that the yearly cost of homeowners coverage is determined based on your chosen coverage limits as well as a number of other rating factors.

 
Winston-Salem, North Carolina, homeowners insurance — contents:
  1. Rates by insurance company
  2. Rates by coverage level
  3. Rates by ZIP code
  4. Rates by deductible amount
  5. Policy bundling discounts
 

 

Home insurance in Winston-Salem by insurance company

What you pay for homeowners insurance in Winston-Salem will depend on the insurance company you get your policy through. The most affordable home insurance in Winston-Salem is Safeco offering average annual rates at just $661 per year. This is considerably cheaper than the city’s average homeowners premium of $1,112.

To get started with your homeowners insurance policy search, take a look at this list of the cheapest companies in Winston-Salem, North Carolina.

 
CHEAP HOMEOWNERS INSURANCE COMPANIES IN WINSTON-SALEM
CompanyAverage Annual Rate
Safeco$661
North Carolina Farm Bureau$897
Liberty Mutual$929
Nationwide$932
Erie$1,011
 

 

Average homeowners insurance prices in Winston-Salem by coverage level

How much you spend on home insurance coverage is greatly affected by the level of coverage you choose. In Winston-Salem, carrying $200K dwelling coverage costs an average of $735, while carrying additional coverage up to $400K costs $1,352/year.

 
HOMEOWNERS INSURANCE RATES IN WINSTON-SALEM — POPULAR COVERAGE LIMITS
Coverage LevelAverage Annual Rate
$100K Dwelling$465
$200K Dwelling$735
$250K Dwelling$936
$400K Dwelling$1,352
 

 

Winston-Salem homeowners insurance prices by ZIP code

Home insurance premiums can vary depending on what area of Winston-Salem in which you live. Policies are often priced on local variables such as the number of claims filed in the immediate area, meaning the neighborhood in which you live could have a major impact on how much you pay to insure your home.

If you're looking for the cheapest homeowners insurance premiums in Winston-Salem, take at look at the 27040 ZIP code. In the 27040 area, homeowners coverage usually costs just $1,099 per year on average — a full $13 less than the Winston-Salem average. Find the best places to live in Winston-Salem for cheap home insurance by looking at the following table.

 
AFFORDABLE ZIP CODES FOR HOMEOWNERS INSURANCE IN WINSTON-SALEM
ZIP CodeAverage Annual Home Insurance Rate
27040$1,099
27101$1,099
27104$1,099

Some parts of Winston-Salem, however, are prone to home insurance costs that are higher on average. Fire risks, crime rates, and even your proximity to emergency services such as fire and police stations could impact rates the risk level of certain parts of the city, which could drive up the area's insurance costs. One of the costliest ZIP codes for home insurance in Winston-Salem is 27107, with an annual average rate of $1,152.

 
EXPENSIVE AREAS FOR HOMEOWNERS INSURANCE IN WINSTON-SALEM
ZIP CodeAverage Annual Home Insurance Rate
27107$1,152
27103$1,104
27105$1,104
 

 

Home insurance deductibles in Winston-Salem

Among the numerous options homeowners face when buying homeowners insurance is how high or low to set the deductible. A deductible is the amount for which a homeowner is responsible before an insurance company steps in to cover costs. The deductible that you decide on can impact your insurance rates directly.

On the whole, having a low deductible means that your insurance rates will be higher. As such, if you want lower insurance rates, aim for a higher deductible. Be mindful of the fact that your deductible should only be as high as you can reasonably afford if you suffer a loss.

Have a look at may of the typical deductibles offered by home insurance companies and an estimate of what you can expect your premiums to be.

 
HOME INSURANCE COSTS BY DEDUCTIBLE LEVEL IN WINSTON-SALEM
Deductible LevelAverage Annual Home Insurance Rate
$500$1,083
$1,000$936
$1,500$869
$2,000$736
$5,000$651
 

 

Money-saving tip: bundle home and auto insurance in Winston-Salem

If saving money is something you are worried about, you might purchase insurance for your home and auto through the same insurance company. Bundling home and auto insurance is one way to save substantially on your monthly car insurance premiums. In fact, bundling policies in Winston-Salem leads to average annual savings of 6%.

 
CHEAPEST CAR INSURANCE WITH HOME BUNDLE IN WINSTON-SALEM
CompanyAvg. Annual Auto Insurance Rate (With Bundle)
GEICO$540
State Farm$634
North Carolina Farm Bureau$734
Erie$787
AmTrust NGH$860
 

A great way to save on insurance is to bundle your home and auto policies with the same insurance company.

 

Compare homeowners insurance rates side-by-side!

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Ross Martin LinkedIn

As a licensed insurance agent, Ross is responsible for researching and writing about all matters related to auto and home insurance. He has a background in writing and education, as well as a master's degree from Royal Holloway, University of London. He has been quoted by CNET, iDriveSafely.com, and Kin Insurance.