Best homeowners insurance in North Carolina for 2023

Compare the best homeowners insurance companies in North Carolina

The average cost of homeowners insurance in North Carolina is $1,294 per year, or about $108 a month, for $250,000 in dwelling coverage. North Carolina homeowners insurance is, on average, slightly cheaper than the national average of $1,428 per year. Keep in mind that your own rate is likely to differ, since it is based on multiple factors that are unique to your situation, such as the age and condition of your home, your ZIP code and more.

Bankrate's research indicates that the top five North Carolina homeowners insurance companies are USAA, Travelers, State Farm, Erie and North Carolina Farm Bureau. We evaluated these companies based on cost as well as third-party scores, including J.D. Power's 2022 U.S. Home Insurance Study and AM Best financial strength ratings. We also looked at other factors such as the functionality of each company's website and app. Taking all this into account, we gave each insurer a Bankrate Score out of 5.0.

*USAA not officially ranked by J.D. Power due to eligibility restrictions.

How much is home insurance in North Carolina?

The average cost of North Carolina home insurance for 2023 is $1,294. This is $134 less than the national average of $1,428. Your rate may vary depending on where in the state you live. Those in coastal regions, for example, may pay more to account for the increased risk of hurricanes and wind storms that make land on the state's coast. 

North Carolina’s average annual home insurance rate falls between surrounding states’ rates, with Tennessee’s average at $1,755 annually and South Carolina’s average at $1,172 annually. 

There are several factors that can affect your North Carolina insurance premium, like being in a more populated area with higher crime rates or in a hurricane-prone area. Geographical location aside, the current condition of your home and roof, as well as your claims history, might all impact your insurance rate, depending on your state’s regulations.

Average annual premium by coverage level in North Carolina

How to find the best cheap home insurance in North Carolina

It’s typically not difficult to find the best cheap home insurance in North Carolina if you take your time with the decision and consider all your options. There are a number of insurers writing robust and cost-effective policies in the state, including our five chosen companies. Any of them might be able to offer you a policy that will provide excellent protection for your home and property. Here is a good strategy to use when you are looking for the best cheap home insurance in the state:

1. Consider your property: Potential insurers will want to know all about your house, including its age, what it's made of, and even details like the age of your roof. When you are ready to gather quotes, you'll need to have these details available in order to receive an accurate price.
2. Consider the choices: Pick a handful of companies that interest you, such as the ones on our list. Check out each company’s website. See if they have the answers to your questions and are easy to use. If you like doing your insurance business online, make sure you can handle common tasks like paying your premium and filing claims via the website or an app. If you prefer an in-person approach, look for companies that have local agents in your area.
3. Gather quotes: It's a good idea to request a free quote from more than one company. Many insurers let you get a quote online after answering a few questions about your home. Others require you to call an agent. Make sure you are quoting the exact same amounts from each company, so that you can do an apples-to-apples comparison of their rates.
4. Choose the company that best meets your needs: Everyone’s needs are different and some companies may offer you the best price, while others will offer excellent customer service, and still others might offer lots of endorsements that fit your needs. Compare your quotes and your research on each company to determine which one is right for you.

Common home insurance discounts in North Carolina

Utilizing discounts that you qualify for might be one of the best ways to save money on your homeowners insurance in North Carolina. Most insurers have at least a few discounts available and they are generally not difficult to qualify for. Here are some of the common ones you may see while searching for your own policy:

Types of home insurance in North Carolina

Standard home insurance policies cover your home, detached structures, personal belongings and liability exposure, but you may want to consider additional coverage for more robust protection. North Carolina sees its share of natural disasters each year, so depending on where you live, you may want to consider the following:

• Flood insurance: Standard homeowners insurance does not cover flood damage, so you will need to obtain flood insurance separately if you want it. Flood insurance is available through FEMA’s National Flood Insurance Program and dozens of private flood insurers or as an endorsement to your standard home policy.
• Windstorm and hail: Depending on where you live in the state and your insurance company, windstorm and hail coverage may be excluded from your standard coverage. Some homeowners may need to purchase a separate windstorm and hail policy. If included in your policy, this coverage may come with a separate deductible, typically 1-5 percent of your home’s insured dwelling value.
• Earthquake damage: An earthquake endorsement can cover repairs needed due to earthquake damage and may cover other structures not attached to your house, like a garage or shed. It can also insure your personal property, the cost to remove debris and extra living expenses you may have while your home is being rebuilt or repaired after an earthquake. While major earthquakes aren’t incredibly common in the state, without the endorsement, there is typically no coverage for earthquake damage on most North Carolina homeowners insurance policies.

Frequently asked questions