Best Cheap Homeowners Insurance Companies In Wilmington, NC

One of the most storm-prone cities in North Carolina is Wilmington. Hurricanes and tropical storms sweeping in off the Atlantic or charging north from Georgia and South Carolina have been known to cause extensive damage with high winds and flooding. Wilmington insurers and residents also are at a higher risk of property crimes and vandalism than other cities in North Carolina.

Because of this, homeowners insurance in Wilmington averages over $6,500 per year, compared to the state average of $1,500. Due to the high cost of home insurance in Wilmington, residents want to find the cheapest and best home insurance policy available. Fortunately, we’ve done that homework for them, and our research has uncovered that State Farm offers the cheapest and best homeowners insurance in Wilmington at $2,807 per year.

While State Farm is the best overall, you may find that another insurer will better meet your needs based on your situation. For example, we found that Universal North America is very competitive for newly constructed homes, that Allstate will serve you well if you need extra personal property coverage, that USAA is the best for military families, that North Carolina Farm Bureau is tops for customer service, and Heritage is your best option if you have poor credit.

Cheapest Overall Rates In Wilmington

Cheapest Overall For Newly Constructed Homes

Cheapest Overall Rates In Wilmington

Cheapest Rates For Military Families

Best For Customer Service

Cheapest Rates For People With Poor Credit

How To Find The Best Home Insurance Company For You

When looking for affordable home insurance in Wilmington, take your time to consider all your options. Numerous insurers are offering cost-effective policies with great coverage in the area. We have selected six companies that could offer you a policy providing excellent protection for your home and property. Follow this strategy to find the best cheap home insurance in Wilmington, North Carolina.

Consider your property: When looking for insurance for your property, you should be prepared to provide specific information about your house. This includes details such as the age of your home, the materials it’s made of, and even the age of your roof. It’s essential to have this information handy when requesting quotes so that you can receive an accurate price.

Consider insurers: When deciding on an insurance company, it’s important to choose wisely. Begin by selecting a few companies that pique your interest. Then, take a moment to explore each company’s website and determine if they meet your needs. If you prefer to handle your insurance business online, ensure that the website or app allows you to perform everyday tasks like paying your premium and filing claims easily. Alternatively, if you prefer the personal touch, seek out companies with local agents in Wilmington.

Gather quotes: To make a well-informed decision, obtaining quotes from multiple insurance companies is recommended. Some companies offer online quotes, while others require you to speak with an agent. It is important to ensure that you request identical coverage amounts from each company to compare their rates accurately.

Choose the company that best meets your needs: Every individual has unique needs, and some companies may provide the best deal, while others may excel in customer service, and some may offer various endorsements that suit your requirements. It’s important to compare the quotes and research you’ve done on each company to identify the one that best meets your needs.

Largest Home Insurance Companies In North Carolina

Average Cost Of Home Insurance In Wilmington, North Carolina

Compared to the average rates for the state of North Carolina and the U.S. as a whole, Wilmington has the highest home insurance rates in the state. Fortunately, all major insurers, along with some smaller companies, do business in North Carolina. Here are the average prices for five major insurers selling homeowners insurance policies in Wilmington.

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 Wilmington

Getting an online home insurance quote in Wilmington can be done in four easy steps:

Step One: Determine how much coverage you need. If you’re unsure how much personal property liability protection you need, go throughout your home and take a detailed inventory. Taking a video of your belongings can be very helpful if you ever need to submit a claim.

Step Two: Choose three insurers to get quotes from. You can contact three insurance companies for a quote, ask an independent insurance agent to get three quotes for you, or use an online home insurance quote tool to provide you with pricing.

Step Three: Make sure you’re getting an apples-to-apples quote from each insurer. The coverage limits and deductible should be identical for you to make an educated decision.

Step Four: Decide which insurance company you feel will best meet your needs, and then complete the application.

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

Home insurers use several factors to determine how much of a risk they believe you’ll be to file a claim. The more of a risk they think you are, the higher your premiums will be. Here are factors home insurers use that impact your cost of insurance.

Location. Insurers get as specific as your ZIP code when they calculate rates. For example, if you live in an area of Wilmington where more claims are filed, the insurer will charge you more.

Coverage amount. How much your home and its contents are insured for will affect your rates. The more valuable your home and possessions are, the more you’ll pay.

Credit history. Insurers in North Carolina can use your credit history to help determine your rates. For example, insurers charge you more if you have poor credit because you’re statistically more likely to file a claim.

Claims history. If you’ve filed claims in the past, insurance companies have found that you’re more likely to file claims in the future.

Your home’s age. The older the house, the more likely it is that aging materials can lead to damage to certain aspects of your home, such as electrical or plumbing. Damage to these systems can cause fire or water damage, which translates into large claims.

Deductible. The higher your deductible is, the lower your premium will be. But be sure to choose a deductible you can afford.

For Wilmington homeowners, there is a high risk of damage to their homes due to a hurricane, flooding, or other natural hazards. As a result, home insurance rates in Wilmington are the highest in the state.

North Carolina Home Insurance Laws To Know.

The state of North Carolina does not require its homeowners to carry home insurance. However, North Carolinians with a mortgage or who belong to a Homeowners Association (HOA) may be required to.

In The News

ABC affiliate WTVD in Raleigh reports that North Carolina homeowners are seeing their insurance rates rising, partly due to the cost of lumber being up 21% over last year and roof prices being 22% higher. One 2023 report predicts a 9% increase in home insurance premiums in 2023.

Information About Wilmington

According to Wilmington and Beaches, “The heart of Wilmington is concentrated in its lively, walkable River District, which showcases the city’s progressive culture and historic setting. Defined by its rich past and a bright future, Wilmington, NC, is a vibrant riverfront city with timeless character that has preserved its historic places while fostering an ever-evolving independent spirit.

As history moves forward with each exciting new addition, the city mingles historic architecture with modern design and new attractions like a waterfront park and amphitheater, hotels, and restaurants – all connected by the nearly two miles of scenic Riverwalk, making it easy to move around. At the center of it all is the Cape Fear River that inspires new experiences and fresh ideas, as seen from the local storefronts and cafes to the film industry and local arts and music scene.”

Home Insurance Discounts In Wilmington

Although home insurance rates are high in Wilmington, there are plenty of discounts homeowners can take advantage of. Here are some discounts you should ask your insurance agent about. It may save you a lot of money over the course of owning your home.

Your house itself might have features that can save you money, such as:

New or renovated home discount. Newly built or renovated homes are often eligible for discounts because upgraded systems like wiring and plumbing are less likely to fail and result in an insurance claim.

Disaster preparedness discount. If you live in an area like Wilmington that’s prone to severe weather, your insurer may give a discount if you take steps to prevent damage. For example, storm shutters, reinforcing a door, and shatterproof glass can reduce damage from high winds.

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

Proximity to a fire hydrant or fire department. If you live close to fire-damage control resources, your insurer may offer a discount.

Roof age discount. Roof repair costs are significant loss-leaders for insurers. Some, like USAA, offer discounts based on the age of your roof.

Military discounts. If you are a current military member, a veteran, or the spouse or child of a military member, you may be eligible for a discount.

Employment, organization, and association discounts. Your insurer may offer a discount for certain occupations, such as educators. You might also qualify if you are a union, organization, or professional association member.

Seniors or retirees. Some home insurance companies offer a price break if you’re retired or a senior working part-time. Typically, the house must be your primary residence, you must be over 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 insurer.

You can also save money on your home insurance by raising your deductible and maintaining good credit.