Best Home Insurance North Carolina

Contributor, Benzinga

Want to find the best coverage? Most of our readers prefer Lemonade for their home insurance needs.

North Carolina is well-known for its temperate climate and mild weather. Although some trauma may happen near the coast, the Appalachian Mountains shield the state from storms and extreme temperatures in the west.

This makes homeowner’s insurance more affordable in North Carolina compared to the national average. However, prices can still vary according to the county. Areas more prone to tornados, hurricanes, and flooding can lead to higher premiums.

The Best Homeowners Insurance in North Carolina

Liberty Mutual Liberty Mutual
Best For
Tailored coverage
N/A
1 Minute Review

Liberty Mutual protects your home against a variety of common dangers and losses. An optional provision, known as loss forgiveness, helps prevent rates from going up after you file your first claim, while inflation protection helps protect your belongings each time your policy renews to help balance it with the cost of living. Damaged items are replaced at full cost, so you don’t have to worry about those items being depreciated and having to pay the difference out of pocket.

Get home insurance, renters and landlord policies from Liberty Mutual.

Best For
  • Homeowners who want the freedom to customize some aspects of their coverage
  • Homeowners looking for insurance that covers the full replacement cost of their personal property
  • Those who are looking to save money with a solid selection of discounts
  • People who want to be able to view and manage their policy online
Pros
  • A long and considerable list of discounts that can save you hundreds of dollars
  • Ability to manage and track claims directly from computers or mobile devices
  • Excellent claims rating
  • Established company
Cons
  • Decent financial stability, but could be improved
  • Customer service and claims handling not always consistent or satisfactory
Nationwide Nationwide
Best For
Customizable policies
N/A
1 Minute Review

As one of the United States’ largest insurance providers, Nationwide offers homeowners insurance options across the country. If you already have a policy with Nationwide, you can easily bundle multiple coverages together to save on both policies. In addition to bundling, Nationwide also allows you to save using many other discounts, including discounts for having a security system installed in your home and for remaining claims free.

Unlike some other insurance providers, Nationwide makes it easy to claim a quote online (though you can speak with an in-person representative if you choose). Though Nationwide quoted higher than the national average price for homeowner’s insurance, these costs can vary widely by location. Overall, Nationwide provides homeowners with a quick and easy option to get covered. 

 

Best For
  • Homeowners looking for fast coverage
  • Homeowners who want the option to speak with an agent
  • Anyone who already has a Nationwide policy
Pros
  • Instant quote tool allows you to see prices quickly
  • Loss-of-use and credit protections included on standard policies
  • Offers a range of insurance products for bundling discounts
Cons
  • Confusing customer contact system
  • Pricing higher than average in some areas
Allstate Allstate
Compare Quotes securely through Allstate’s website
Best For
No Recent Claims
N/A
1 Minute Review

Allstate is one of the best-known insurance companies in the business and for good reason. It offers a range of coverage options so you can tailor your coverage to your needs. You can apply for a policy through a local agent or online. Even if you buy a policy online, you can still get assistance from a local agent, which can be helpful when it’s time to file a claim. 

Allstate’s claims process is clear and you can track it online so you know exactly what’s going on. It also has a mobile app that you can use to pull up ID cards, take photos for a claim and pay your bills. Allstate is a good choice for those with multiple policies and who like personal service.

Best For
  • Home owners with multiple policies
  • Home owners without a recent claim
Pros
  • Ease of online service or through an agent
  • Clear claims process
  • Useful mobile app
Cons
  • Average customer satisfaction for claims
  • Optional coverage like yard and garden not available in every state
Farmers Farmers
Best For
Those who own investment properties
N/A
1 Minute Review

Farmers Insurance makes it easy to buy home insurance. It has 3 packages that you can start with (Standard, Enhanced and Premier), and you can customize each package to meet your needs. It insures single-family homes, condos, mobile homes, manufactured homes, specialty homes like investment properties and even vacant homes. It sells its policies through agents, and your agent can help you determine what coverage is the best fit for you and your needs. 

Farmers also offers other lines of insurance like auto and life so that you can bundle coverage for additional savings. According to J.D. Power, it has above-average ratings for its claims service but below-average ratings for its overall customer service. In other words, you may run into challenges with day-to-day issues, like updating your billing information, but when it comes to claims, Farmers does an excellent job. If you do have a customer service issue, you can always talk to your agent.

Best For
  • Home owners who prefer personal service
  • Home owners with unique needs, like a vacant home, manufactured home or investment properties
Pros
  • Prepackaged options that make buying easy
  • Other lines of insurance available
  • Above-average claims service and accepts prior claims
  • Accepts rural properties
Cons
  • Below-average customer service ratings
  • Must buy coverage through an agent

Average Annual Premium in North Carolina

Annual homeowner’s insurance premiums in North Carolina average at about $1,075. This amount is slightly lower than the national average of $1,034.

Considering the low rate of natural disasters and calm weather, North Carolina’s homeowner insurance premiums are correspondingly lower. Although rates are lower than the national average, premiums can vary drastically depending on the insurance provider.

Finding the Best Premium for Your Home

There are a variety of factors to consider when looking for the best homeowner’s insurance premiums in North Carolina. Premium rates depend on a number of different aspects, so it’s important to compare rates before buying a house. Some factors to take into consideration include:

  • Your credit and insurance score – Insurance companies have come up with a magic number called an insurance score. This score takes your age, marital status, credit score, and other factors into consideration when figuring out the cost of your homeowner’s insurance. Having a good credit score can mean your premiums are much lower than someone with the same house and a poor credit score.
  • Age of the home – The build year of your home can have a substantial influence on the cost of your homeowner’s insurance. Newly built homes receive a New Home Discount for the first ten years. The older the house becomes, the higher premiums tend to be.
  • Type of construction – Homes in North Carolina are typically categorized as either Masonry Veneer of Frame. Veneer homes are covered in a majority of brick or cement fiber and usually have lower premiums compared to frame homes. Frame homes, made of aluminum, wood, vinyl, etc. are considered to be higher risk and carry higher insurance premiums.
  • Marital status – Some insurance companies in North Carolina offer discounts to married couples. Similarly, premiums can be higher for singles and unmarried couples.
  • Public Protection Class rating – Depending on the proximity of fire departments, fire hydrants, and available fire department resources, your home will receive a Public Protection class rating from 1 to 10. Whether or not you have a fire hydrant within 1000 feet of your home could mean hundreds of dollars difference in premiums each year. Ratings are determined by the fire station that serves your property.
  • Your deductible – A higher deductible will lower your premium. However, it’s important to weigh out the advantages and disadvantages of a high deductible. The split deductible option is a new choice available to North Carolina insurance customers. Homeowners can now choose a separate deductible for wind and hail claims, while other deductibles stay the same. The wind and hail deductible usually ranges from 1% to 5%.

Flood Insurance

Many flood-zone areas are eligible for special protection from the National Flood Insurance Program.

This particular insurance is available through the federal government and can often be purchased through your current homeowner’s insurance. Visit the following link for more information about the National Flood Insurance Program or call 800-638-6620.

The North Carolina Floodplain Mapping Program (NCFMP), an initiative created by the Federal Emergency Management Agency (FEMA), is helping communities in North Carolina better prepare for flood disasters. Up-to-date, digital Flood Insurance Rate Maps (FIRMs) allow communities to calculate and manage flood risks.

This allows for real-time forecasting of flood threats with state-wide coverage. Through modernized floodplain mapping, residents of North Carolina can better prepare themselves and their property when a natural disaster strikes. The goal of this project is to provide more accurate flood maps, increase public awareness, and ensure more affordable rates for flood insurance.

Best Home Insurance in North Carolina

The following list below contains the five highest rated insurance companies in the state of North Carolina. Each company offers basic homeowner’s insurance as well as a variety of supplemental policies.

There are a wide variety of insurance policies available that can fit the needs of any homeowner. Below is a short summary of each insurance company, information about their customer service, and description of what sets them apart from the competition.

Best For
Tailored coverage
Pros
  • A long and considerable list of discounts that can save you hundreds of dollars
  • Ability to manage and track claims directly from computers or mobile devices
  • Excellent claims rating
  • Established company
Cons
  • Decent financial stability, but could be improved
  • Customer service and claims handling not always consistent or satisfactory

Liberty Mutual

Liberty Mutual has been serving customers for over 100 years, providing insurance coverage nationally and internationally.

Customers can easily manage their accounts, file claims, and make payments online. Liberty Mutual, also with an A rating from A.M. Best, stresses the importance of seeing customers as human beings. This is an insurance company dedicated to the safety and well-being of its customers by providing exceptional service.

Liberty Mutual differs from other companies because:

  • They offer a Personal Property Replacement® service. With this additional service, customers can quickly and easily have damaged property replaced.
  • The Home Protector Plus® policy provides full replacement of all lost belongings, including accommodation costs while the home undergoes repairs.
  • Emergency Home Repairs takes care of repairs within a 24-hour period.
Best For
Customizable policies
Pros
  • Instant quote tool allows you to see prices quickly
  • Loss-of-use and credit protections included on standard policies
  • Offers a range of insurance products for bundling discounts
Cons
  • Confusing customer contact system
  • Pricing higher than average in some areas

Nationwide

Established in 1925, this insurance company has an A.M. rating of A+ and assets of over $158 billion. Customers have the opportunity to take part in a Nationwide On Your Side® review, which is a free annual consultation service.

This offers homeowners the chance to change their deductibles, review coverage options, and make policy updates. Nationwide differs from other companies because:

  • They protect your family and property as well as your home.
  • Additional coverage, such as the Brand New Belongings policy, helps pay for damage to property in the home. The Better Roof Replacement policy offers additional protection for your roof.
  • They offer unique savings options for homeowners over 60 years of age, multi-policy discounts, and rewards for claims-free customers.
Best For
No Recent Claims
Pros
  • Ease of online service or through an agent
  • Clear claims process
  • Useful mobile app
Cons
  • Average customer satisfaction for claims
  • Optional coverage like yard and garden not available in every state

Allstate

Allstate has been protecting its customers since 1931, with an A.M Best rating of A+. This insurance company is well known for its Good Hands slogan and mission to make a difference in communities.

Through Allstate’s catastrophe response network, reputation as innovators, and community involvement, the company has been able to see through on its mission. This insurance company has an excellent reputation for customer service.

Through its use of innovative new products and online support system, Allstate offers some of the best customer service available. Allstate differs from other companies because:

  • In addition to high-quality coverage, customers can expect extensive customer service options. The Allstate website provides a variety of educational tools and resources to inform homeowners of relevant safety information.
  • Homeowners have the ability to customize policies with additional coverage. Some of these extras include electronic data recovery, identity theft restoration, musical instruments, sports equipment, yard and garden, water backup, and green improvement reimbursement.
Best For
Those who own investment properties
Pros
  • Prepackaged options that make buying easy
  • Other lines of insurance available
  • Above-average claims service and accepts prior claims
  • Accepts rural properties
Cons
  • Below-average customer service ratings
  • Must buy coverage through an agent

Farmers

Established in 1928, Farmers insurance serves over 10 million customers nationwide. This company has an A.M. Best rating of A, has embraced change over the years in order to accommodate homeowners’ evolving needs.

As one of the nation’s largest home insurers, Famers is owned by policyholders and managed by a board of directors. Farmers differs from other companies because:

  • They constantly look for ways to keep insurance affordable using a unique tool called the Risk Assessment Indicator
  • Discounts are available for customers with updated heating, plumbing, and electrical systems. Similarly, homeowners with security systems, smoke alarms, and new roofs receive additional savings.
  • They offer additional options to protect possessions. Identity Management Services assist homeowners who have lost important documents due to damage. Eco-Rebuild is an extra option that provides funds for green materials. With Contents Replacement Cost coverage, policyholders are reimbursed for the new value of lost items, as opposed to the depreciated value.

Due to mild weather and a temperate climate, homeowner insurance premiums in North Carolina are typically lower than the national average. Some areas, especially those prone to damage from hurricanes, tornados, and flooding have higher premiums.

Home insurance in coastal beach areas and cities low on the floodplain map can expect to pay higher premiums as well.

Final Thoughts

Before searching for home insurance, it’s a good idea to review the needs of your family and your home. The age of your home, your marital status, deductible, type of construction, and public protection class rating all affect the price of your premium.

Additionally, your credit and insurance scores will have an impact on the cost of insurance. Although North Carolina usually experiences mild weather, inclement weather conditions can still strike at any time. Since flood insurance isn’t included in most standard home insurance policies, it’s necessary to explore additional options.

Want to learn more about insurance? Check out Benzinga’s guides to the best car insurance companies in Charlotte, the best affordable health insurance and the best life insurance companies.