Best cheap homeowners insurance in Greensboro

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Nearly half (48.7%) of the Greensboro, North Carolina population owns and occupies their home. The City of Greensboro’s report finds that residents as a whole are shifting towards an older demographic of 65-plus. Regardless of whether you are a first-time homebuyer or have owned several homes in the past, you understand a home is one of your biggest investments. Because of this, finding the right property insurance is important.

Bankrate found that home insurance rates in Greensboro are $1,111 per year for $250,000 in dwelling coverage. Rates are less than North Carolina’s average of $1,295 per year. The best way to determine the best home insurer for you is by getting quotes from a handful of carriers that offer home insurance in Greensboro. The question is, what insurers offer cheap home insurance rates in Greensboro? Bankrate analyzed quoted premiums from some of the best home insurance companies in the area and compared pricing, policy options, discounts and customer reviews to bring you four carriers worth considering.

Best cheap home insurance companies Greensboro

The following home insurers have a combination of low rates and good customer ratings. J.D. Power’s independent home insurance study rates insurers based on what policyholders say about these carriers. Not all insurance companies make the list. They may be smaller or regional and did not have a large enough representation in the study to make the top 23. Or their ratings were not high enough.

Home insurance company Average annual premium for $250K dwelling JD Power score
Kemper $737 NR
Travelers $863 803/1,000
Nationwide $1,194 808/1,000
USAA $1,223 889/1,000

Kemper

Kemper’s home insurance is the least expensive of all the carriers Bankrate reviewed at $737 per year. There are optional coverages you could add to expand your home’s protection. Some optional coverages worth mentioning include valuable item coverage that places higher coverage limits for high-value items like jewelry and antiques, identity fraud coverage and audio/video insurance, which is unique. Opting for the special coverage protects your digital audio and video content in case of loss. In addition, Kemper offers discounts that can help you save on your annual premium.

Learn more: Kemper Insurance Review

Travelers

Greensboro residents in need of special coverage may find what they need with Travelers. The insurer has the second-lowest rates in the city at $863 per year. The premium savings could be used to add optional coverages such as identity fraud reimbursement and green home coverage. If you are a victim of identity theft, Travelers can provide up to $25,000 in restoration expenses. If you do have a claim, Travelers green home option helps repair your home with green materials.

Learn more: Travelers Insurance Review

Nationwide

Greensboro is home to several new construction houses. If you live in a newer home or one that has been recently remodeled and upgraded, you could get a significant discount on your home insurance premiums. Nationwide’s home insurance rates are already among the lowest in the city. If you live in a gated community, purchased a home within the last 12 months or own a new or upgraded home, you could qualify for additional discounts.

Learn more: Nationwide Insurance Review

USAA

Greensboro homeowners who are veterans, serving in the Armed Forces, retired or an immediate family member of military personnel can qualify for USAA membership to access one of the best home insurance packages offered in the area. USAA’s rates do not beat the city average, but getting coverage with this carrier comes with many perks. A standard HO-3 policy includes replacement cost coverage and identity theft protection. In addition, USAA automatically covers military uniforms for active duty and deployed personnel if the uniforms are lost or damaged.

Learn more: USAA Insurance Review

Home insurance coverage options in Greensboro

Home insurance is not required in North Carolina. However, your lender likely requires coverage while you pay off your mortgage. Even if you are not expected to have home insurance, consider the out-of-pocket cost of rebuilding your home or replacing all your contents.

Keep in mind that hurricane risk in Greensboro may be lower than in cities along the North Carolina coast, but your property could still be subject to wind damage and flooding. While a standard home insurance policy does cover wind damage, flood damage is usually excluded. Some optional coverages or additional policies worth adding to your home coverage may be:

  • Flood insurance: As mentioned, areas of Greensboro are subject to flooding. Flood insurance may be a lender requirement in high-risk areas or a wise choice to protect you financially.
  • Business insurance: Home businesses or people working from home should consider additional business coverage since most homeowners insurance policies have coverage limitations on business usage.
  • Scheduled personal property: Insuring special items separately such as antique watches, designer handbags or high-value jewelry is the best way to cover these items at their value.

Home insurance discounts in Greensboro

Before you sign up for home insurance with one insurer, ask what additional discounts are available. Most companies have a variety of discounts available, such as:

  • New homeowners: You could receive a discount if you purchased your home in the last 12 months or if your home has extra safety features that could reduce the risk of break-ins.
  • Welcome discounts: Some insurers encourage you to switch companies by offering you a reduction in your premiums in your first policy term.
  • Protective devices: Adding deadbolt locks, a security system or a fire alarm could lower your insurance premiums.

Frequently asked questions

What is the best home insurance company?

There are many quality insurance companies you can choose from. Bankrate’s findings of some of Greensboro’s best home insurance companies are USAA, Nationwide, Kemper and Travelers had the lowest prices and best coverage options.

How much does home insurance in Greensboro, NC, cost?

Home insurance rates in Greensboro are $1,111 per year on average for coverage on a $250,000 dwelling. Rates in the city are lower than North Carolina’s state average of $1,295 per year.

Methodology

Bankrate utilizes Quadrant Information Services to analyze 2021 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on 40-year-old male and female homeowners with a clean claim history, good credit and the following coverage limits:

  • Coverage A, Dwelling: $250,000
  • Coverage B, Other Structures: $25,000
  • Coverage C, Personal Property: $125,000
  • Coverage D, Loss of Use: $50,000
  • Coverage E, Liability: $300,000
  • Coverage F, Medical Payments: $1,000

The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required).

These are sample rates and should be used for comparative purposes only. Your quotes will differ.

Written by
Cynthia Paez Bowman
Personal Finance Contributor
Cynthia Paez Bowman is a finance and business journalist who has been featured in Bankrate, Business Jet Traveler, MSN, CheatSheet.com, Freshome.com and TheSimpleDollar.com. She regularly travels to Africa and the Middle East to consult with women’s NGOs about small business development and works with select startups and women-owned businesses to provide growth and visibility.
Edited by
Senior Insurance Editor