Best Homeowners Insurance In North Carolina For April, 2024

State Farm offers the best homeowners insurance in North Carolina.

min read
Updated: 12 March 2024
Written by
Bob Phillips
On this page Open

Hurricanes, tropical cyclones, storms, tornadoes, ice and snow storms, and flooding are some of the severe weather events common in North Carolina.

Choosing the right insurance coverage for your home and belongings can be challenging. You may be seeking a carrier that offers comprehensive coverage against losses from extreme weather or other causes, all at an affordable price.

Based on my research, State Farm emerges as a leading homeowners insurance company in North Carolina. However, it’s important to carefully review this information and select a policy that aligns with your specific insurance needs.

Best Homeowners Insurance In North Carolina, 2024

Best Home Insurance, North Carolina, 2024

Compare The Best Home Insurance In North Carolina

Overall Rating Best For A.M Best Rating J.D Power Rating Online Experience Get A Quote
State Farm
4.9

Best Overall

A++

829

9/10

Instant Quote
Allstate
4.7

Discounts

A+

816

9/10

Instant Quote
Farmers
4.4

Policy Perks

A

792

9/10

Instant Quote
Nationwide
4.6

Coverage Options

A+

815

8/10

Instant Quote
Chubb
4.8

Cheap Rates

A++

809

7/10

Instant Quote
Scroll to see comparisons

Our Methodology

When trying to decide which home insurance companies in North Carolina are the best, we make our choices from information about such things as customer reviews and ratings, ratings from established companies like AM Best along with J.D. Power, and more. Our data on customer satisfaction we obtain from J.D. Power. Our source of statistics regarding an insurer's strength financially we get from AM Best. We also check out online reviews left by policyholders, along with my own experience.

51

Quotes Analyzed

17

Brands Reviewed

15+

Years Of Experience

27+

Research Hours

The Best Homeowners Insurance Companies In North Carolina


Best Overall

Overall Rating
4.9

Key Statistics

10/10 Affordability
9/10 Customer Reviews
9/10 Claims
10/10 Coverage Level

Why We Like Them

State Farm is our top choice for the best homeowners insurance in North Carolina. The company boasts an impressive A++ rating from AM Best for its financial strength and stability. J.D. Power also gives State Farm a high rating (829 out of 1000) for customer satisfaction, based on positive online reviews from policyholders. With numerous offices and agents across the state, State Farm provides excellent service to its policyholders.

State Farm offers coverage that sets it apart from other insurers, even in its standard home insurance policy. This includes protection against credit card fraud and coverage for complying with strict HOA regulations or seeking legal representation. State Farm policies also cover various other issues.

Starting the home insurance purchasing process with State Farm is quick and easy, as you can take the initial steps online. However, to purchase insurance from State Farm, you’ll need to meet with one of their agents.

Once you’re a policyholder, you can manage your account online through the app or website, making tasks like setting up paperless billing, filing a claim, or paying premiums through automatic payments convenient. State Farm also provides a resource library on their website for those looking to learn more about insurance.

Benefits & Drawbacks

Benefits
  • Higher than the average number of coverage options
  • Many local offices as well as agents
  • Highest rating from AM Best in financial stability along wth strength
Drawbacks
  • State Farm doesn't allow going through an independent agent to purchase a policy

Best For Discounts

Overall Rating
4.7

Key Statistics

8/10 Affordability
7/10 Customer Reviews
8/10 Claims
8/10 Coverage Level

Why We Like Them

The average homeowners insurance policy offers around 7 discounts, but Allstate stands out by providing policyholders with 11 discounts. This substantial difference can result in significant savings on insurance premiums. Many home insurance analysts agree that Allstate’s discounts are designed to meet various needs.

Allstate’s discounts include:

  • Claims Free: A 5% discount upon policy renewal if you haven’t filed a claim in the past year.
  • Early Payment: A 10% discount if you purchase a new policy within 7 days of your old policy’s expiration.
  • Automatic Payment: A 5% savings when you choose automatic premium deductions from your bank account.
  • Deductible Reward: A $100 reduction in your deductible when you buy an Allstate policy.
  • Loyalty: Up to a 10% discount upon policy renewal.
  • Claims Forgiveness: This feature prevents a rate increase after a claim.
  • Protective Device: A discount for installing theft and fire protection devices.
  • Bundle: Up to a 25% discount for bundling coverage, such as having auto and home policies with Allstate.
  • New Home: A discount for newly constructed homes.
  • New Home Buyer: A discount for recent home buyers.
  • Responsible Payment: A discount for maintaining a good payment history.

While the U.S. insurance industry typically offers seven types of discounts, Allstate provides close to double that number with eleven available. In addition to standard options like Identity Theft and scheduled personal property coverage, Allstate offers coverage options for those with yards and gardens. This coverage raises limits for repairing or replacing landscaping or equipment like riding lawn mowers.

Benefits & Drawbacks

Benefits
  • Nearly twice the average number of discounts industry wide
  • Numerous offices and agents throughout the state
  • Financially stable and strong
Drawbacks
  • More than the insurance industry average number of complaints from policyholders

Best For Policy Perks

Overall Rating
4.4

Key Statistics

9/10 Affordability
6/10 Customer Reviews
7/10 Claims
9/10 Coverage Level

Why We Like Them

Farmers insurance is highly rated by customers for its policy perks and online experience, likely due to clear explanations of how these perks can save money. This information is valuable when looking for home insurance. Some of Farmers’ policy perks include:

  • Deductible Declines: $50 off your deductible for every year your policy is in force.
  • Discount for Claim-Free Periods: You may qualify for a premium discount after three years without filing a claim.
  • Multi-Line Policies: Having more than one type of coverage with Farmers can save you up to approximately 34% off your annual premium.
  • Claim Forgiveness: Your rates won’t increase if you file a claim after five claim-free years.
  • Replacement Cost Guaranteed: Farmers will pay the full price to rebuild your home if necessary, regardless of the cost.

Farmers has a high rating of 9.3/10, reflecting its lower customer satisfaction ratings based on J.D. Power data.

Benefits & Drawbacks

Benefits
  • Farmers has over 12 discounts available
  • Numerous agents and offices locally
  • Guaranteed replacement cost is part of all homeowners policies
Drawbacks
  • Ratings for customer satisfaction, according to J.D. Power, are lower than the national average

Best Coverage Options

Overall Rating
4.6

Key Statistics

8/10 Affordability
6/10 Customer Reviews
9/10 Claims
9/10 Coverage Level

Why We Like Them

Nationwide has earned high ratings (A+) from AM Best for its financial strength and stability, but its customer satisfaction ratings are lower. Despite this, the company is rated highly overall. Nationwide offers many local offices and agents, providing convenience and good service for policyholders.

Insuring your home with Nationwide offers multiple options not commonly offered by other carriers. These include reimbursement for credit card fraud and ID theft, as well as coverage for legal expenses or complying with stricter HOA codes if you have to rebuild due to a covered loss.

Nationwide’s Better Roof Replacement coverage provides additional protection when you need to repair or replace your roof after a covered severe weather event, allowing you to purchase new and more expensive roofing materials.

With the Brand New Belongings option, you’ll be reimbursed for the depreciated value of your belongings if they are damaged or destroyed. Simply purchase replacements and send your receipts to Nationwide to be reimbursed for the cost difference.

Benefits & Drawbacks

Benefits
  • Multiple local agents and offices for service, claims and sales
  • Many high quality coverage options
  • High AM Best rating in financial strength
Drawbacks
  • Numerous negative customer reviews online
  • Short term rentals like Airbnb aren't covered

Best For Cheapest Coverage

Overall Rating
4.8

Key Statistics

10/10 Affordability
9/10 Customer Reviews
9/10 Claims
8/10 Coverage Level

Why We Like Them

Chubb provides some of the most competitively priced homeowners insurance in North Carolina, with an average policy cost of $1,835 per year. This rate is lower than the state average of $2,325 annually and slightly higher than the national average of $1,428 per year.

Despite its affordability, Chubb offers substantial value. The company provides coverage for higher-valued homes and is known for its exceptional customer service. With Chubb, policyholders benefit from low-cost premiums and extended replacement cost coverage, ensuring that their homes and property can be repaired or replaced, even if the current value is different from the original purchase price.

Benefits & Drawbacks

Benefits
  • You have a broad range of options that let you customize your coverage to suit your own personalized needs
  • Wide variety of coverage options that allow you to fit your coverage to suit your needs
  • Rates are among the lowest in the state
  • Policy coverage with specialized packages for high end homes
Drawbacks
  • You can't get scheduled personal property
  • You cannot obtain a quote online

 Average Cost Of Home Insurance In North Carolina

Insurer Annual Rate
North Carolina Average Rate $1,639
State Farm $982
Nationwide $3,740
Allstate $1,785
Erie $1,740
Travelers $1,176
USAA $2,773

Cheapest Cities For Homeowners Insurance In North Carolina

City Annual Rate
Asheville $890
Hickory $885
Monroe $1,144
Charlotte $1,176
Lexington $1,050

Most Expensive Cities For Homeowners Insurance In North Carolina

City Highest Rate
Atlantic Beach $9,509
Bald Head Island $8,804
Ash $5,341
Atkinson $5,337

Home Insurance Premiums By Deductible In North Carolina

Deductible Average Annual Rate
$500 $1,669
$1,000 $1,434
$1,500 $1,332
$2,000 $1,126
$5,000 $973

Home Insurance Prices By Coverage Level In North Carolina

Coverage Level Average Annual Rate
$100,000 Dwelling $706
$200,000 Dwelling $1,036
$250,000 Dwelling $1,430
$400,000 Dwelling $1,938

How To Find The Best Home Insurance Company For You

Finding the right homeowners insurance in North Carolina can be challenging, but it’s essential to protect your most valued asset. To make an informed decision, you’ll need to research home insurers in the state and determine the coverage you need. Here are five steps to help you choose the best homeowners insurance:

  1. Research and narrow down your choices to three insurers.
  2. Determine the coverage you need, possibly with the help of an agent.
  3. Obtain quotes from the three carriers.
  4. Compare coverage, rates, financial strength, and customer feedback to decide on a provider.
  5. Complete your application for coverage, which can often be done online.

How To Get An Online Home Insurance Quote In North Carolina

Researching home insurance in North Carolina has never been easier thanks to online resources. To get the information you need quickly, follow these three steps:

  1. Fill out the quote form with information about your home, its contents, value, square footage, age, exterior composition, location, and any other relevant details.
  2. Double-check that you’ve answered all questions before submitting the form to get quotes.
  3. Once you’ve chosen a suitable insurer, complete an application for homeowners coverage. Note that some carriers may require you to contact an agent if they don’t offer online quotes.

Factors That Impact Cost Of Your Home Insurance Policy In North Carolina

Several factors influence the cost of homeowners insurance in North Carolina:

  1. Proximity to flood zones: Homes near the coast, rivers, or lakes face higher flood risks, leading to higher insurance rates.
  2. Age of the home: Older homes (30 years or more) may have higher premiums due to stricter building codes and higher rebuilding costs.
  3. Deductibles and coverage amounts: Lower deductibles result in higher premiums, while higher coverage for expensive homes increases insurance costs.
  4. Zip code: Homes in zip codes prone to extreme weather events (e.g., floods, storms, hurricanes, hail, ice, snow, earthquakes, wildfires) often have higher insurance rates.
  5. Claim history: If you’ve filed previous home insurance claims, insurers may charge higher premiums.

North Carolina Home Insurance Laws To Know

North Carolina law doesn’t stipulate that you carry home insurance. But if you have a lender and a mortgage on the property, it requires you to be insured. North Carolina does not have a Bad Dog law for homeowners.

Home Insurance Discounts In North Carolina

When speaking with an agent about home insurance, inquire about available discounts that could help lower your deductible or premium. You might qualify for multiple discounts, such as:

  1. Claims Free: You could receive a 25% discount if you haven’t filed a claim in at least a year.
  2. New Home: Building a new home may qualify you for a discount on your premium.
  3. Early Payment: Getting a new policy within 7 days before your old one expires could earn you a discount.
  4. Bundle: Insuring multiple properties, like your home and vehicles, might result in up to a 25% discount.
  5. Automatic Payment: Enrolling in automatic premium deductions from your checking account could lead to a discount.
  6. Responsible Payment: Maintaining a good payment history by paying your premiums on time could earn you a discount.

The Most Affordable Areas For Homeowners Insurance In North Carolina

Homeowners insurance in North Carolina varies by ZIP code. It may range from a low of $898 in Newton, in zip code 28658, to as much as $9,503 in Atlantic Beach, zip code 28512. The lowest rates according to zip codes are:

ZIP Code City Lowest Rate
28658 Newton $898
28601 Hickory $885
28715 Asheville $890
28112 Monroe $1,680

FAQs

Is home insurance more expensive in North Carolina?

Yes. With the varying climates and severe weather of all kinds, it’s easy to understand  why rates for home insurance would be higher than the national average. North Carolina’s annual home insurance rates are about $550 more a year than the average rate for the nation as a whole.

How much per month is a million-dollar home insurance policy in North Carolina?

Rates vary depending on multiple factors such as zip code, value of residence, deductible amount, the insurer and more. However, two carriers with the lowest home insurance rates in North Carolina are State Farm at $982 annually, and North Carolina Farm Bureau at $995 a year.

What is the average monthly cost of home insurance in North Carolina?

Homeowners insurance premiums are based on things such as the value of your home and your personal belongings, where your home is located, the amount of your deductible, and  your home’s age, among other things. The average North Carolina home with a value of about $250,000 normally costs about $1,639 per year.

Go back to top