What to Know about Homeowners Insurance

in North Carolina

Facts about North Carolina Home Insurance 

Unlike auto insurance, home insurance coverage is not mandatory by law. It is, however, required by lenders if you have a mortgage or take out a home equity loan. A well-planned home insurance policy can prevent North Carolina property owners from facing large financial losses due to severe events such as hurricanes, tornadoes, fires, property crimes and many common liability lawsuits.

More North Carolina home insurance facts

  • Hurricane Florence caused $18 billion in damage in NC in 2018.
  • NC residents see an average of 29.1 tornadoes a year.
  • The burglary rate in NC is 51% higher than the US rate.
  • NC homeowners average $1.4 billion in claims per year.

Average Cost of Home Insurance in North Carolina

The national average cost of home insurance is $1,173 a year. In North Carolina, rates are a bit lower with an average cost of $1,075. Rates are based on several factors such as the size, age, and value of your housee, your claims history, and even your credit score. Every insurance company uses a different method for assessing risk and calculating rates, so reviewing a few quotes before making a purchase lets you be sure you are getting your policy at a competitive rate. Independent agents make comparison shopping easy and stress-free.

Average Cost of Homeowners Insurance

average cost of homeowners insurance in north carolina

Why Choose an Independent Agent in North Carolina?

  • Local agents are familiar with the risks you face in your city.
  • Unlike captive agents, independent agents can shop for rates.
  • Independent agents can help with all of your insurance needs.

Find an independent agent in North Carolina

I bought a new home and called my old insurance company and they gave me this website to try. I started two weeks ago; I just told them that I was looking for somebody and there were a couple of people that called me right away. I was happy with them. I wanted to get somebody that was in the same town where we have the home in, so if something happens, we'd be able to contact them right away. I got what I wanted. I'd recommend TrustedChoice.

5 stars Peggy of Raleigh, NC Consumer Affairs

What Does a Homeowners Insurance Policy Cover?

Home insurance can cover you against most of the risks you face as a property owner in North Carolina. If you own any particularly expensive property such as fine art, family heirlooms, or valuable collections, your independent agent can advise you about whether a special endorsement is necessary to ensure that these items are fully covered.  A typical homeowners insurance policy will provide you with the following:

  1. Compensation for weather damage: Inclement weather, from hurricanes to tornadoes, can cause expensive damage to your home. Your policy can cover the cost to rebuild, replace, or repair your property if it is damaged by severe weather.
  2. Compensation for accidental damage: Sudden, uncontrollable accidents such as out-of-control cooking fires and frozen pipes are typically covered by home insurance. However, damage caused by a long-term, ignored problem usually are not.
  3. Compensation for loss due to crime : If burglars target your home, your insurance can cover the cost to replace your stolen items and make repairs for related damages. It can also cover against other property crimes like vandalism and arson.
  4. Protection from costly liability lawsuits: Home insurance policies include personal liability insurance. This can cover legal expenses and judgments if you are sued for negligent actions that cause property damage, injuries, or financial harm to others.
  5. Payment for temporary living expenses, if needed: Your home insurance can cover the cost of temporary accommodations, meals, and other related expenses if your house is rendered uninhabitable following a covered event like a fire. 

Flood damage is not covered by homeowners insurance, even if it is the direct result of a covered hurricane. Many properties in North Carolina are at risk for flooding, so be sure to talk to your insurance agent about the benefits of supplementing your home insurance policy with flood insurance through the National Flood Insurance Program (NFIP).

Top Insurance Companies That Support Independent Agents in North Carolina

There are currently 693 independent insurance agencies in North Carolina who are ready to help. Independent agents work with a variety of insurance companies, so they can provide you a selection of customized home insurance quotes that you can review and compare together. Let a local independent agent help you find the best policy to meet your coverage and budgetary needs.

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Why Go Independent When Looking for Homeowners Insurance?

  • Agents find the best insurance
  • Insurance you can understand
  • Multiple quotes

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