Best And Cheapest Home Insurance In Charlotte, NC

Charlotte has been known to feel the brunt of some pretty epic storms, with hurricanes roaring in from the Atlantic, or tropical storms sweeping up from South Carolina – destroying everything in their path. Not only that, but the people of Charlotte are also at a much higher risk of falling victim to crimes committed against their property than any other city in North Carolina.

It’s for this reason that home insurance in Charlotte costs, on average, over $6,5000 a year – much higher than the state average of $1,500. Naturally, Charlotte homeowners are constantly seeking the cheapest home insurance, as well as looking for a reliable provider that can guarantee good coverage.

Well, they no longer need to endure a grueling search as we’ve done all the hard work for them – discovering that State Farm offer the best rates and best policies for home insurance in Charlotte at an annual cost of $2,807.

State Farm are undoubtedly the best provider overall; however, personal circumstances may mean that another home insurance provider could be more appropriate for you and your needs. Our research revealed that Universal North America is extremely competitive for newly built homes, whereas Allstate is best suited for homeowners in need of extra personal property coverage.

We also discovered that USAA is a fantastic choice for military families, North Carolina Farm Bureau is superb when it comes to customer support, and Heritage is the best choice for those with a poor credit score.

Cheapest Overall Rates In Charlotte

Cheapest Overall For Newly Built Homes

Cheapest Overall Rates In Charlotte

Cheapest Rates For Military Families

Best For Customer Service

Cheapest Rates For People With Poor Credit

How To Decide On The Best Home Insurance Provider For You

When deciding on the most affordable policy for home insurance in Charlotte, it’s important to take the time to review and research all options available to you. Many providers offer cost-friendly policies with good coverage within the city. We have hand-picked six providers in Charlotte that could potentially offer you a policy with fantastic protection for your home, and your belongings. Below are a few tips to follow when seeking the best, and cheapest, home insurance in Charlotte, North Carolina.

Consider your property: When deciding on a policy for your property, you must be prepared to provide specific information on the building in question. This will include details such as the age of the property, the materials it’s made up of, and the age of the roof. It’s vital that you have this information readily available when looking for accurate quotes.

Consider insurers: When deciding on an insurance provider, it’s important that you choose wisely. Begin by looking at a few companies that initially caught your attention. Take the time to then do your research and look at each of the company’s websites, to help you decide whether or not they meet your specific needs. If you prefer to deal with your insurance business online, make sure that the website or app allows you to perform everyday tasks such as paying your premium, and filing claims with ease. If you prefer an in-person discussion, then look for providers with local agents in Charlotte.

Gather quotes: We suggest getting quotes from a few insurers to ensure that you’re making an informed decision. You can obtain quotes either online or via an agent, depending on the company. When doing so, make sure that the requests are identical so that you can compare their rates accurately.

Choose the company that best meets your needs: Every individual’s situation is unique to them, meaning that certain insurers will be better suited to your needs. Some providers may offer the best deal or discounts, whereas another may rank higher for customer satisfaction. This is why it’s important to do your own research and compare each of the quotes to determine which provider is best for you and your requirements.

Largest Home Insurance Companies In North Carolina

Average Cost Of Home Insurance In Charlotte, NC

Compared to the average rates for North Carolina and the whole of the United States, Charlotte has the highest home insurance premiums in the state. Fortunately, all major insurers, as well as other much smaller companies, do business in North Carolina. Here are the average prices for five of the major home insurance providers in Charlotte.

Average Cost Of Home Insurance By ZIP Code (Coastal North Carolina)

Average Cost Of Home Insurance In North Carolina By Coverage Amounts

Average Cost Of Home Insurance In North Carolina By Deductible Amount

How To Get An Online Home Insurance Quote In Charlotte

Getting an online quote for home insurance in Charlotte can be done in four simple steps:

Step One: Try to decipher how much coverage is needed. If you’re a little confused about the amount of personal property liability protection you require, take a walk around your home and take a thorough inventory. Recording a video as you do so can also be helpful, in case you need to make a claim in the future.

Step Two: Select three providers and receive quotes. Get in touch with three separate providers and obtain a quote after communicating your needs. You can either ask an agent to get the quotes on your behalf or go online and use a quote tool.

Step Three: Ensure you’re receiving the same quote from each provider. Both the coverage limits and deductible should be the same across all insurers, thus helping you to make a more informed decision.

Step Four: Determine which provider you think will be most suited to your needs and proceed with the application.

Factors That Impact The Cost Of Your Home Insurance Policy In Charlotte

Home insurance providers consider a number of factors when deciding how much of a risk they think you’ll be to put forward a claim. The higher the risk they believe you to be, the higher the rates. Below are the factors that providers consider when deciphering the cost of your insurance.

Location. Providers calculate rates with factors as specific as your ZIP code. If you live in an area of Charlotte where a higher number of claims are submitted, the provider will charge you more based solely on this detail.

Coverage amount. The amount your home and your belongings are insured for will impact your premiums. The higher the value, the higher the rates.

Credit history. Home insurance companies can utilize your credit score to decide on your rates. If you have a bad credit score, then a provider may charge you more as statistically speaking, you are more likely to submit a claim.

Claims history. Insurers consider whether you have submitted a claim in the past as statistically, you are more likely to file a claim in the future.

Your home’s age. If you have an older property, then it is more likely to have been built with materials that naturally are deteriorating. For instance, electricals and plumbing. Insurers consider this as damage to these systems can result in water or fire hazards – ultimately leading to a big claim.

Deductible. If your deductible is higher, then your rates will be lower. Ensure that the deductible you select is affordable to you when applying.

For Charlotte homeowners, hurricanes pose a threat as they can often lead to flooding, or other damage. This means that home insurance rates are going to be high.

North Carolina Home Insurance Laws To Be Aware Of

For people residing in North Carolina, there is no requirement to purchase home insurance. However, people with a mortgage or those belonging to a Homeowners Associations (HOA) may be required to.

In The News

WTVD, an affiliate of ABC, reported that homeowners in North Carolina are seeing their premiums rising rapidly. This is because of the cost of lumber rising 21% within the last year, and the prices of roofing now being 22% higher. A report at the beginning of 2023 predicted a 9% rise in home insurance for this year.

Information About Charlotte

Charlotte is the largest city in the state of North Carolina, and the third fastest-growing major city in the United States. As the second-largest banking center in the country, Charlotte is home to the corporate headquarters of the Bank of America, as well as the east coast operations of Wells Fargo.

Charlotte has been dubbed the ‘Queen City’, after being named in honor of Charlotte of Mecklenburg-Strelitz – the former queen of Great Britain. A thriving cosmopolitan hub of culture and excellent food and wine, Charlotte has been a great tourist attraction for visitors.

Home Insurance Discounts In Charlotte

Home insurance rates are high in Charlotte, however, there are a number of discounts available for homeowners that they should take advantage of. Below are some discounts that you can discuss with your insurance agent. They are definitely worth keeping in mind as they could potentially save you a lot of money in the long run!

Your home may have features that can save you some money, including:

New or renovated home discount. Homes that are either newly built or recently renovated are often eligible for discounts due to more modern systems such as plumbing and wiring, reducing the risk of any failures.

Disaster preparedness discount. If you live in an area such as Charlotte which is prone to hurricanes and tropical storms, your insurer could potentially offer you a discount if you take the steps to prevent any damage caused by severe weather. This includes implementing storm shutters, reinforcing a door, and installing shatterproof glass. These are all ways to reduce damage caused by high winds.

Safety and security discounts. This tends to apply to devices such as smoke detectors, fire extinguishers, fire alarms, burglar alarms, sprinklers, water shut-off devices, and implementing deadbolts on exterior doors.

Proximity to a fire hydrant or fire department. Your provider may offer a discount if you live in close range to fire-damage control resources.

Roof age discount. Roof repair expenses are substantial loss-leaders for providers. Companies such as USAA offer discounts based on the age of your roof.

Military discounts. If you are an active military member, a veteran, or family of a military member, you could be eligible for a discount.

Employment, organization, and association discounts. Your provider may offer a discount if you work within a specific industry, such as educators. You may also be eligible if you are a union, organization, or professional association member.

Seniors or retirees. Some home insurance providers offer a price break if you’re retired or are a senior who is working part-time. Usually, the house must be your main residence, you must be over the age of 55, and work outside of your home less than 24 hours a week.

Bundling discount. You receive a discount for having multiple policies with the same provider.

You can also save a bit of money on your home insurance by increasing your deductible and keeping a good credit score.