Key Takeaways
- State Farm has the cheapest home insurance in North Carolina, with premiums averaging $104 a month.
- Erie Insurance offers the best customer satisfaction among the state’s top home insurance companies.
- The average cost of homeowners insurance in North Carolina is nearly $700 a year higher than the national average.
In this article
The cheapest home insurance providers in North Carolina
State Farm is the cheapest homeowners insurance company in North Carolina, charging an average $1,246 a year for a typical policy. This is less than half the state average home insurance premium.
| Insurance company | Annual premium |
|---|---|
| State Farm | $1,246 |
| North Carolina Farm Bureau | $1,574 |
| Travelers | $1,648 |
| Allstate | $2,295 |
| Nationwide | $2,668 |
| USAA | $3,159 |
| UPC | $3,918 |
| Erie | $4,266 |
| State average | $2,597 |
| Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |
These are average rates. What you pay for home insurance from these and other companies may be higher or lower than the amounts above.
To find a policy that offers you the best combination of price and coverage, compare home insurance quotes from several companies.
How much is home insurance in North Carolina?
The average cost of home insurance in North Carolina is $2,597 a year. Paid monthly, this comes out to $216.
This is 36% higher than the average cost of home insurance in the U.S., which is $1,903 a year or $159 a month.
Several factors determine what you pay for home insurance in North Carolina, including:
- Your ZIP code
- Your insurance claim history
- The age of your home
- The materials used to build your home
Your home insurance policy’s deductible amount factors into the price of your home insurance policy, too. Usually, a lower deductible means a higher premium.
If you ever need or want to lower your home insurance premium, raise your deductible. Always make sure you can afford to pay your deductible amount, though. There’s no point to raising your deductible to an amount you can’t pay.
| Deductible amount | Annual premium |
|---|---|
| $500 | $2,859 |
| $1,000 | $2,597 |
| $1,500 | $2,412 |
| $2,000 | $2,274 |
| Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |
The dwelling coverage amount you choose for your home insurance policy also impacts your premium. In particular, a lower dwelling coverage amount often means a lower premium as well.
| Dwelling coverage amount | Annual premium |
|---|---|
| $200,000 | $1,991 |
| $275,000 | $2,597 |
| $350,000 | $3,099 |
| $425,000 | $3,647 |
| $500,000 | $4,171 |
| Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |
Don’t choose a low dwelling coverage amount just to save money on your home insurance costs. If you have a mortgage, your lender will likely require you to insure it for its replacement value. You won’t be able to choose a lower amount even if you want to do so.
Get cheap homeowners insurance in North Carolina
The best home insurance companies in North Carolina
State Farm: Best rates
$1,246 a year
52% cheaper than the state average
$2,597 a year
If you want the lowest home insurance premium or rate in North Carolina, get a quote from State Farm. Not only does State Farm offer the cheapest average home insurance rate in North Carolina, but its average rate is 21% lower than that of its closest competitor, North Carolina Farm Bureau.
Cheapest average home insurance premium in North Carolina.Also charges the cheapest premiums in nine of the state’s 10 largest cities.
J.D. Power customer satisfaction score is the highest of the companies we surveyed.
NAIC Complaint Index rating is higher than it is for most of North Carolina’s other top insurers.
North Carolina Farm Bureau: Best local provider
$1,574 a year
39% lower than the state average
$2,597 a year
If you want to get affordable home insurance from a local company, North Carolina Farm Bureau is your best bet. Bonus: it provides great customer service, too.
Second-lowest average home insurance rate in North Carolina.
Second-best NAIC Complaint Index rating of the companies surveyed.
Company promises a “personally assigned local agent.”
You must pay a membership fee of $25 a year to access NC Farm Bureau’s insurance products.
Erie: Best for customer satisfaction
0.14
High J.D. Power customer satisfaction score827
Erie is the best home insurance company in North Carolina for customer service, based on our research. It earns high marks for customer satisfaction and receives few complaints – a winning combination.
Lowest NAIC Complaint Index rating of North Carolina’s top home insurers.
Second-highest score in the J.D. Power 2022 U.S. Home Insurance Study.
Bundle your home and auto insurance with Erie and you could earn a discount of up to 25%.
Average annual premium is the highest of the companies we surveyed.
Although Erie’s multi-policy discount is good, its other home insurance discounts are lacking compared to its main competitors.
Customer service ratings for North Carolina home insurance companies
State Farm and Erie have the highest customer service scores of North Carolina’s top homeowners insurance companies.
| Insurance company | Overall satisfaction score |
|---|---|
| Allstate | 815 |
| Erie | 827 |
| Nationwide | 816 |
| North Carolina Farm Bureau | Not included |
| State Farm | 829 |
| Travelers | 794 |
| UPC | Not included |
| USAA | 884* |
| Source: J.D. Power 2022 U.S. Home Insurance Study | |
J.D. Power’s customer satisfaction scores are based on customer surveys that rate home insurers on interaction, policy offerings, price, billing process, policy information and claims. Higher scores are better than lower ones.
Erie and North Carolina Farm Bureau have the lowest NAIC Complaint Index ratings of the companies we surveyed.
| Insurance company | Complaint Index rating |
|---|---|
| Allstate | 0.62 |
| Erie | 0.14 |
| Nationwide | 0.29 |
| North Carolina Farm Bureau | 0.19 |
| State Farm | 0.35 |
| Travelers | 0.30 |
| UPC | Not applicable |
| USAA | 0.31 |
| Source: National Association of Insurance Commissioners (2022 data) | |
The NAIC Complaint Index compares insurance companies by confirmed complaints. A company with a 2.0 Complaint Index rating has twice as many confirmed complaints as expected for its size. A 0.5 rating reflects half as many as expected.
How much does home insurance cost in North Carolina by city?
Homeowners in Winston-Salem pay the lowest average home insurance premiums among North Carolina’ biggest cities at $1,542 a year. That equals a monthly average of $129.
| City | Annual premium |
|---|---|
| Charlotte | $1,648 |
| Raleigh | $1,815 |
| Greensboro | $1,574 |
| Durham | $1,805 |
| Winston-Salem | $1,542 |
| Fayetteville | $2,497 |
| Cary | $1,820 |
| Wilmington | $10,098 |
| High Point | $1,603 |
| Concord | $1,551 |
| Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |
Cheapest home insurance companies in Charlotte
For cheap home insurance in Charlotte, go to State Farm. Its average premium of $730 a year is the city’s cheapest by almost $400.
| Insurance company | Annual premium |
|---|---|
| State Farm | $730 |
| North Carolina Farm Bureau | $1,115 |
| Travelers | $1,174 |
| Allstate | $1,510 |
| Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |
Cheapest home insurance companies in Raleigh
Homeowners in Raleigh can get even cheaper home insurance from State Farm. The provider offers an average annual premium of $554. That’s less than half the average rate charged by its nearest competitor, Travelers.
| Insurance company | Annual premium |
|---|---|
| State Farm | $554 |
| Travelers | $1,190 |
| North Carolina Farm Bureau | $1,276 |
| Allstate | $1,557 |
| Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |
Cheapest home insurance companies in Greensboro
State Farm is the cheapest homeowners insurance company in Greensboro, too. Its average premium is just $520 a year, or $43 a month.
| Insurance company | Annual premium |
|---|---|
| State Farm | $520 |
| North Carolina Farm Bureau | $1,137 |
| Travelers | $1,174 |
| Allstate | $1,375 |
| Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |
Cheapest home insurance companies in Durham
Durham homeowners will find the lowest home insurance rates from State Farm, which charges an average premium of $626 a year.
| Insurance company | Annual premium |
|---|---|
| State Farm | $626 |
| Travelers | $1,196 |
| North Carolina Farm Bureau | $1,255 |
| Allstate | $1,635 |
| Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |
Cheapest home insurance companies in Winston-Salem
State Farm is also the best source of cheap homeowners insurance in Winston-Salem. Here, the company charges $501 a year, on average. That’s only $42 a month.
| Insurance company | Annual premium |
|---|---|
| State Farm | $501 |
| North Carolina Farm Bureau | $1,149 |
| Travelers | $1,169 |
| Allstate | $1,431 |
| Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |
How much does home insurance cost in North Carolina by county?
Of the 10 largest counties in North Carolina, homeowners in Buncombe County pay the cheapest average home insurance rate of $1,429 a year.
| County | Annual premium |
|---|---|
| Wake | $1,819 |
| Mecklenburg | $1,642 |
| Guilford | $1,572 |
| Forsyth | $1,543 |
| Cumberland | $2,507 |
| Durham | $1,828 |
| Buncombe | $1,429 |
| Union | $1,602 |
| Gaston | $1,584 |
| New Hanover | $10,228 |
| Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |
Home insurance risks in North Carolina
Severe thunderstorms, tornadoes and flooding are regular threats to North Carolina homes and homeowners. That’s important to keep in mind as you shop for homeowners insurance, as severe weather is one factor companies consider when they calculate your home insurance quote. It's also a primary reason for the high cost of home insurance in North Carolina.
Tornadoes
North Carolina experiences an average of 31 tornadoes a year, according to the National Weather Service. This puts the state’s homeowners at high risk for damage and destruction, and home insurers know it. Also, windstorm and hail damage are not covered by home insurance policies in some parts of North Carolina. This is usually the case in the state's coastal areas. You have to buy wind and hail coverage separately to be fully protected in such situations.
Many home insurance providers sell wind and hail insurance, but if you can't find an affordable policy, you should look into the Coastal Property Insurance Pool (CPIP). This so-called "market of last resort" offers windstorm and hail coverage to homeowners in 18 coastal North Carolina counties.
Flooding
North Carolina has a particularly high flood risk. Standard home insurance does not cover flood damage, though. For that, you need flood insurance. State law doesn’t require homeowners to buy flood insurance, but your mortgage lender probably will.
On average, flood insurance in North Carolina costs $752 a year, or $63 a month. You can purchase flood insurance through insurance agents who take part in FEMA's National Flood Insurance Program (NFIP), as well as some independent insurance providers.
Frequently asked questions
The average cost of homeowners insurance in North Carolina is $216 a month. That’s $2,597 a year.
You may pay more or less than $216 a month for home insurance in North Carolina. Why? Because insurance companies consider several factors when calculating a quote, like how old your home is and whether you’ve filed previous insurance claims.
State Farm has the cheapest homeowners rate in North Carolina at an average of $104 a month.
North Carolina Farm Bureau’s average rate of $131 a month is the state’s second-cheapest offering.
North Carolina law does not require the state’s homeowners to buy insurance. Most lenders do require home insurance, though, so if you have a mortgage, you’ll likely need to get it.
Methodology
We collected quotes from every ZIP code in North Carolina for a standard HO-3 homeowners insurance policy using the following coverages:
- $275,000 dwelling coverage (unless otherwise noted)
- $27,500 other structures
- $137,500 personal property
- $55,000 loss of use coverage
- $100,000 liability
- $5,000 medical payments
- $1,000 deductible (unless otherwise noted)
Home insurance by city
QuoteWizard.com LLC has made every effort to ensure that the information on this site is correct, but we cannot guarantee that it is free of inaccuracies, errors, or omissions. All content and services provided on or through this site are provided "as is" and "as available" for use. QuoteWizard.com LLC makes no representations or warranties of any kind, express or implied, as to the operation of this site or to the information, content, materials, or products included on this site. You expressly agree that your use of this site is at your sole risk.