Top 6 Homeowners Insurance Companies in North Carolina of 2024 (2024)

Based on our in-depth research, here are the top providers of homeowners insurance in North Carolina:

• Hippo: Our pick for fast quotes
• Liberty Mutual: Our pick for discounts
• Farmers: Our pick for customizable coverage
• Allstate: Our pick for extended coverage
• State Farm: Our pick for new homeowners
• Nationwide: Our pick for inclusive standard coverage
• USAA: Our pick for military members

According to 2023 homeowners insurance data from Quadrant Information Services, the average cost of homeowners insurance in North Carolina is $3,528.00, which is higher than the national average of $2,511.25.

Your location significantly affects home insurance rates in North Carolina, especially considering the state is at risk of natural disasters such as hurricanes, floods, hurricanes and other types of storms. We explain other factors insurance providers consider when determining your rates below.

• Risk of severe weather events: If your property is in an area at risk of extreme weather events, insurers will charge you higher rates. For instance, residents of coastal cities like Wilmington and Morehead City are at a higher risk of hurricanes and tropical storms, resulting in more expensive home insurance rates.
• Property age and features: Your property age also determines how much you pay for coverage. For example, homes in historical cities like New Bern may be built with old construction materials that are expensive to repair, leading insurers to charge higher rates. Insurers also consider if you install safety devices that reduce the risk of damage, such as theft or fire, and charge you lower rates as a result.
• Local crime rates: Insurance providers will look at your area's crime rate to determine the risk of theft and vandalism. If you live in an urban area like Charlotte or Raleigh, you may pay higher rates due to an increased risk of crimes.
• Credit score: Your credit score helps an insurer determine how likely you are to file a claim. An insurer may charge you higher rates if you do not have a strong credit history. However, you may qualify for lower rates by improving your credit score.
• Claims history: Insurance companies also consider how often you have filed claims and their severity. Insurers consider individuals who have filed many claims in the past as more risky and may charge higher rates.

There are several ways to save money on home insurance in North Carolina, such as qualifying for discounts, comparing rates, maintaining a good credit score and adjusting your deductible.

Check for Discounts

You can see if you qualify for the following discounts, which most insurance providers offer.

• Policy bundling: You can qualify for a discount if you purchase more than one type of policy from your insurance provider, such as home and auto insurance.
• Claims-free: Homeowners who have not filed a claim for a certain period can save on their policy.
• Home security system: You can get a discount if you have installed a home security system on your property, which can reduce the risk of theft and vandalism.
• Safety features: If your property has features that offer protection against severe weather damage, insurers may provide you with a discount.
• Roofing materials: Insurers might offer a discount when insuring homes with certain types of roofing materials that are more resistant to hail and wind damage.

Modify Your Deductible

Your deductible is the amount you pay before your insurance coverage kicks in. You will pay lower premiums if you choose a policy with a higher deductible. However, doing so will increase your out-of-pocket expenses if you file a claim. It’s important to assess your current situation and select a deductible within your budget in case of a claim.

Shop Around for Policies

We recommend you compare quotes from several insurers before making a final decision — doing so can help you explore your available coverage options. It can also result in significant savings since every insurer will evaluate your application differently and give you a quote based on individual criteria.

Consider Your Credit History

Your credit history is an essential factor in determining home insurance rates, as it helps an insurer analyze the likelihood of you filing a claim. Insurance companies usually charge individuals with lower credit scores higher rates and vice versa. However, you can build your credit history to improve your score and potentially receive a better home insurance rate.

Living on the coast exposes homeowners to natural beauty, but also the potential for natural disasters. Coastal homes, or homes near the coast or major bodies of water, are subjected to more risk from hurricanes, named storms, flooding, erosion and other natural disasters than inland homes. This heightened risk means coastal homes are more expensive to insure and can require certain additional coverage.

Coastal insurance is home insurance for coastal properties. It is pricier, more comprehensive, and less common than traditional home insurance. It is specially designed to protect you from the severe weather risks faced by living in a coastal home. You may also need two other insurance policies, flood insurance and windstorm insurance, to ensure the full protection of your coastal home.

Coastal insurance coverage differs from traditional home insurance in a few ways, including the way in which an insurance company reimburses you for damage. Learn more about the differences in the chart below:

Finding coastal home insurance may be difficult. Traditional home insurance providers tend not to offer coastal home insurance. To find a policy that suits your needs, consider the following:

• Seek coverage from specialty carriers: Traditional insurers may not be of much assistance, but North Carolina is host to numerous specialty insurers that offer beach home coverage. While these providers, such as NC Coastal Insurance and Coastal Insurance, are too niche to make our list of the best home insurance companies in North Carolina, they may be worth considering if your home is at risk of coastal weather events.
• Look into the Coastal Property Insurance Pool (CPIP): Under the North Carolina Joint Underwriting Association – Fair Access to Insurance Requirements (FAIR) plan, CPIP provides property insurance to homeowners who live within 18 eligible coastal counties in the state. Homeowners are encouraged to seek private insurance first and use this option as a last resort.

Although flood insurance is typically not included in standard home insurance policies, damage from hurricanes, windstorms and hailstorms usually falls under a separate deductible. This means if your house or property is damaged after a hurricane, you can file a claim and pay the associated deductible rather than the standard all-peril deductible on your policy. You can expect to choose a wind and hail deductible amount between 2% and 6% of the total dwelling coverage limit on the policy.

Coverage for flood-related damages may be offered as an add-on for your policy. Flood insurance endorsem*nts sold through your provider are likely written by the National Flood Insurance Program (NFIP), which is an organization managed by the Federal Emergency Management Agency (FEMA). Not only does the NFIP offer comprehensive coverage to policyholders who live in flood zones and anywhere in the state, but the program also has a website that includes valuable resources and information to keep North Carolina residents educated and aware.

However, according to the North Carolina Department of Insurance (NCDOI), NFIP policies are not offered in every area. After a study in June 2020, the department found that there are 28 communities throughout the state that do not participate in the program. Although, there may be flood insurance policies offered by private companies in those areas. Check with your insurance agent to see what may be available in your ZIP Code, or reach out to the NFIP to purchase a policy directly.

Gain insight into our ratings for the best home, renters, pet, travel or life insurance providers and find affordable recommendations for necessary insurance products.

• Prominent Pet Insurance Companies
• Premier Travel Insurance Companies
• Outstanding Homeowners Insurance Providers
• Top Renters Insurance Firms
• Budget-friendly Renters Insurance Providers
• National Term Life Insurance Providers
• Cost-effective Homeowners Insurance Companies

Our team surveyed dozens of home insurance providers and created a scoring system to assess and compare each company’s quality and service. Here are the factors that account for our provider scores according to our home insurance rating methodology:

• Cost (27%): We compare cost data for homes nationwide to assess how competitively priced each provider is. We also consider each company’s available discounts when determining its overall cost of coverage.
• Coverage (28%): We analyze the comprehensiveness of each provider’s standard home insurance policy and compare optional policy endorsem*nts to determine the quality of coverage.
• Availability and ease of use (15%): We evaluate each company’s customer service options, such as live chat, a customer support phone line, and multiple channels for filing claims and generating quotes. Similarly, we score providers based on their digital resources, such as a mobile app or online customer portal.
• Brand trust (15%): We gauge reputation by evaluating consumer reviews and third-party financial strength and customer experience ratings, including from J.D. Power, AM Best and customer review aggregators.

Companies with the best customer service exhibit 24/7 availability, useful digital tools and a quick claims-filing process. Providers that offer extensive discount options, endorsem*nts, customizable coverage options and unique features score significantly higher than those that don’t, putting them toward the top of our recommendations to readers.

AM Best Disclaimer

Mark Carroll is a content director with more than a decade of writing and editing experience. He has researched and covered topics related to home finances, home improvement, and home products for MarketWatch, helping answer key consumer questions and connecting readers with the brands that meet their needs. Prior to his time in the home space, Mark worked in sports media as a news reporter and managing editor.