Best cheap homeowners insurance in Winston-Salem

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Winston-Salem is home to almost 248,000 residents who call the city, located within Forsyth County, North Carolina, home. Over 53% of the population are homeowners, which means the need for the best cheap homeowners insurance company in Winston-Salem is essential. The average cost of homeowners insurance is $1,085 per year for $250,000 in dwelling coverage, which is well below the national average of $1,312.

Coverage options for policies in this southern city are varied, as well as the number of discounts available to residents. However, there are numerous ways to save while still getting the maximum coverage for your home.

Best home insurance companies in Winston-Salem

Residents in Winston-Salem have a multitude of options for homeowners insurance. Bankrate reviewed several carriers to determine which ones have the most competitive rates in 2021 and high customer satisfaction ratings based on the 2020 J.D. Power Home Insurance Study.

Home insurance company Average annual premium for $250K liability J.D. Power score
Kemper $734 N/A
Travelers $856 803 / 1,000
*USAA $1,132 *889 / 1,000
Nationwide $1,170 808 / 1,000
MetLife $1,258 824 / 1,000

*Based on membership eligibility restrictions, USAA is considered rank-ineligible by J.D. Power.


Kemper provides a number of insurance products in the Winston-Salem area, including homeowners. Kemper has a tiered coverage approach for homeowners insurance. The Kemper Prime Home Essentials policy includes the basic coverage for your home, with the option to add on coverages such as Personal Property Replacement Cost, water backup and other specialty options.

The Enhanced plan includes the same basic and optional coverages as the Essentials plan, but includes higher limits for those who want larger payouts to cover potential damages. The Prime plan is similar to the Enhanced plan, but allows for even higher limits to maximize your coverage and minimize the amount you pay out of pocket.


A homeowners insurance policy with Travelers includes the basic coverages you would expect for your dwelling, including dwelling coverage, personal property coverage, other structure and loss of use. Travelers offers numerous options, including water backup, contents replacement costs, additional replacement cost protection and a personal articles floater.

Discounts are as plentiful as the options available, with savings up to 12% offered if you have multiple policies, savings being a recent homebuyer, a loss-free discount for those who have not filed any claims and a green home discount.


USAA offers policies for eligible active members of the military, veterans and qualifying immediate family members. USAA policies include options for home-sharing coverage if you rent out part of your home and earthquake coverage.

But USAA offers other unique protections you may not receive with other insurance carriers. For instance, your military uniform is covered if you experience a loss while serving as an active or deployed member. USAA also covers your personal belongings at their current replacement cost, with no depreciation so you receive the full replacement amount.


Nationwide offers a wide range of coverages, both as standard and optional for your policy. Standard protection includes everything you might expect, as well as ordinance insurance for rebuilding to your home to code following a covered loss. Nationwide also features credit card coverage in case your credit information is used in a case of identity theft or forgery. Plus you can purchase optional add-ons such as water backup and flood insurance for greater coverage.

Discounts on Nationwide policies are abundant with savings for multi-policy holders, home purchase, protective devices (such as fire alarms and security systems), claims-free and for a gated community. You may even be eligible for a discount if you update your home’s electrical, heating or plumbing systems to a more updated version.


MetLife scores above the industry average for overall customer satisfaction with homeowners insurance and offers plenty of policy options as well. MetLife home was recently acquired by Farmers Insurance, but still has its own rates as of April 2021.

Discounts on your policy include savings for bundling with an auto insurance policy, a claims-free discount and safety equipment discounts. If you have a fire alarm, smoke detectors or a security system, then you might save even more through MetLife.

Home insurance coverage options in Winston-Salem

Homeowners insurance is not required by law in North Carolina, unlike auto insurance. However, a thorough policy provides additional financial protection for what is arguably your largest investment. Not only does a policy help you rebuild or repair your residence if there is damage from a covered peril, but it could also provide peace of mind by ensuring that you will not solely responsible for the necessary expenses. The following coverages may be beneficial for residents of Winston-Salem.

  • Extended replacement coverage: This option offers coverage that could extend past your policy’s limits if your home is damaged or destroyed from a qualifying peril. For example, the coverage could be 150% of your dwelling coverage amount, helping to rebuild your home as it was before even if the cost of rebuilding is more than the property’s value.
  • Flood insurance: Winston-Salem does have areas with an increased risk of flooding. Since a standard HO-3 homeowners insurance policy does not typically include protection against damage from flooding, a separate flood insurance purchase may be warranted for your area. In North Carolina, the average cost of flood insurance per year is $732.96.
  • Other structures: Other structures coverage provides financial protection for structures on your property that are separate from your main dwelling. Examples of this include a detached garage, tool shed or fence.

Home insurance discounts in Winston-Salem

While home insurance rates in Winston-Salem average less than other parts of the country or North Carolina, you will likely still want to save money where possible. Fortunately, there are a number of discounts available to Winston-Salem residents, including:

  • Security equipment: If your home is equipped with an alarm system, either with a smart home device or professional monitoring service, then you may save on your premiums.
  • Automatic payments: Setting up automatic drafts from your checking or savings account may make you eligible for additional discounts.
  • Bundling: Purchasing your homeowners insurance policy through the same carrier you purchase your auto insurance from could result in savings on premiums.
  • Claims free: The longer you have your policy without making a homeowners insurance claim, the more likely you are to receive a claims-free discount.

Not only are discounts an effective way to find the best cheap homeownership rates in Winston-Salem, but shopping around with multiple carriers is another. By comparing several carriers side by side, you not only see the available coverage options, but you often find which carrier offers the lowest rates.

Frequently asked questions

What is the best home insurance company?

The best home insurance company is based on numerous factors, and ultimately you determine which carrier is best suited for your circumstances and budget. Insurers that offer sufficient coverage, and maybe even extended options for your property, may end up at the top of your list.

How much does home insurance in Winston-Salem cost?

The average homeowners insurance rate in Winston-Salem is $1,085 per year for $250,00 in dwelling coverage. However, your rates for homeowners insurance will vary since the rates are dependent on personal factors such as your zip code, credit score, previous claims history and other factors.


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
Sara Coleman
Insurance Contributor
Sara Coleman has three years of experience in writing for insurance domains such as Bankrate, The Simple Dollar,, and numerous other personal finance sites. She writes about insurance products such as auto, homeowners, renters and disability.