Best Homeowners Insurance In North Carolina For May, 2024

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.

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.

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.

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.

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.