The Best Cheap Homeowners Insurance in Wilmington, North Carolina for 2022: Quotes and Reviews

In Wilmington, North Carolina, the average cost of homeowners insurance is $6,565 per year or $547 monthly. The cheapest company, State Farm, offers plans at $2,807, up to $16,748 cheaper than the most expensive company, Erie, at $19,554 per year. You can get significant savings on your home insurance costs by shopping around. If you’re looking for a combination of cost and quality, we’ve also ranked the best homeowners insurance in Wilmington.

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Last Updated: 6/25/2022
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The Cheapest and Best Homeowners Insurance in Wilmington

The Cheapest Home Insurance Companies in Wilmington

When buying homeowners insurance in Wilmington, cost should be an important consideration since most companies offer similar core coverages.

The cheapest home insurance companies in Wilmington for policies with $250,000 in dwelling coverage are:

  • State Farm: $2,807 per year
  • Universal North America: $3,184 per year

If you are looking for affordable home insurance quotes in Wilmington for an expensive home, the cheapest options for home insurance with $2,000,000 in dwelling coverage are:

  • State Farm: $14,678 per year
  • Universal North America: $17,116 per year

You can toggle the table below to see how home insurance rates vary for different dwelling coverage limits.

The Cheapest Home Insurance in Wilmington, Ranked

Dwelling Coverage:

$250,000

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For this study, policies with the initial baseline dwelling coverage of $250,000 have personal property limits of $100,000 and policies with dwelling coverage of $2 million have personal property limits of $800,000. All policies offer $100,000 in liability coverage.

If you live elsewhere in the state, you can look up average homeowners insurance rates for North Carolina.

The Average Cost of Homeowners Insurance in Wilmington for 2022

Wilmington$6,565
NC$1,498
U.S.$2,103

The cost of home insurance in Wilmington averages $6,565 per year, significantly higher than home insurance cost for the state, which averages $1,498. Home insurance rates in Wilmington are also higher than the average national home insurance rate of $2,103 per year.

Calculate the Cost of Home Insurance in Wilmington

Home insurance quotes in Wilmington can vary depending on your location, the dwelling coverage limit you need, the value of personal property to be covered and your credit score. MoneyGeek’s home insurance calculator can help you compare home insurance quotes in your state based on these rating factors.

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Home Insurance Calculator

State

North Carolina

Dwelling Coverage

$250,000

Deductible

$500

Liability

$300,000

Personal Property

$50,000

Credit Score

Excellent
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low end

on average

high end

These are annual estimates. Get a personalized quote to determine your costs.

The Best Home Insurance Companies in Wilmington

Cost should not be the only factor you consider when shopping for the best homeowners insurance in Wilmington. You should also look at the Insurer’s customer service experience and financial stability ratings. This will help you identify an insurance company that will handle your claim promptly and fairly if you need to file one.

Based on MoneyGeek’s analysis, the best homeowners insurance companies in Wilmington are:

  • Best Overall: State Farm
  • Runner Up: Auto-Owners Insurance Co

MoneyGeek ranked home insurance companies in Wilmington based on affordability, user satisfaction and financial stability ratings.


1
State Farm
Score:94.4

5/5

Affordability

4.1/5

User Satisfaction

5/5

Financial Stability

Geek Quick Take
Geek Quick Take

State Farm’s home insurance policy is the most affordable in Wilmington at an average cost of $2,807 per year. State Farm also scores highly for financial stability and customer satisfaction ratings. Homeowners can get quality coverage that includes add-ons like vacancy coverage.

More About State Farm

If your home is unoccupied and empty of contents for more than thirty days, you can opt for vacancy coverage to reimburse you in case of vandalism or glass breakage. State Farm also offers energy-efficient upgrade coverage, so if you replace damaged equipment with more energy-efficient alternatives, State Farm will cover the extra cost. Homeowners can also take advantage of discounts like protective device discounts for having security systems installed.

2
Auto-Owners Insurance Co
Score:93.6

4.7/5

Affordability

4.5/5

User Satisfaction

5/5

Financial Stability

Geek Quick Take
Geek Quick Take

Auto-Owners ranks second for customer satisfaction in Wilmington and ties in first place for financial stability. Apart from this, Auto-Owners stands out for offering lower rates for a no-mortgage policy if you fully own your home.

More About Auto-Owners Insurance Co

Auto-Owners offers optional equipment breakdown coverage to protect you in case your heating system or other installed equipment gets damaged. Auto-Owners also offers optional guaranteed replacement coverage and identity theft coverage.

Cheapest Home Insurance Companies in Wilmington for Newly Constructed Homes

Buying a home insurance policy for a newly constructed home in Wilmington is cheaper than buying a policy for an older home. Newer homes pose a lower risk to the insurer since modern building materials are more damage resistant and easier to replace. Newly constructed homes cost an average of $5,113 to insure compared to $6,565 for a home built in 2000.

The cheapest insurance companies in Wilmington for new homes with $250,000 in dwelling coverage are:

  • State Farm: $1,981 per year
  • Universal North America: $2,480 per year
The Cheapest Home Insurance in Wilmington for New Homes, Ranked

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Cheapest Home Insurance Companies in Wilmington if You Have a Lot of Personal Property

Home insurance also covers damage to personal property you keep in the home. If you want to cover more personal property, you will pay higher home insurance rates. In Wilmington, it costs $7,555 per year on average for personal property limits of $250,000 with our baseline policy compared to $6,565 per year for $100,000 in personal property coverage limits.

The cheapest insurance companies in Wilmington for those with personal property coverage limits of $250,000 are:

  • State Farm: $3,088 per year
  • Universal North America: $3,664 per year
Cheap Companies in Wilmington for Extra Personal Property Coverage

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Cheapest Home Insurance Companies in Wilmington for High Deductibles

Home insurance quotes in Wilmington will vary depending on the deductible amount. A policy with a low deductible typically costs more in annual premiums than home insurance policies with a high deductible. Home insurance in Wilmington costs $5,481 per year on average if you select a policy with a $2,000 deductible, compared to $6,565 for a policy with a $1,000 deductible.

The most affordable home insurance companies in Wilmington for policies with $2,000 deductibles are:

  • State Farm: $2,405 per year
  • Universal North America: $2,658 per year
The Cheapest Companies in Wilmington for High Deductibles, Ranked

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Cheapest Home Insurance Companies in Wilmington if You Have Poor Credit

Insurance companies in Wilmington use credit scores as a rating factor for home insurance costs. Homeowners with poor credit scores will pay more for home insurance than those with good credit. You will pay $10,742 per year on average for home insurance in Wilmington if you have poor credit, while homeowners with good credit will pay $6,565 per year.

If you are looking for cheap homeowners insurance in Wilmington for poor credit, the most affordable companies are:

  • Heritage: $4,967 per year
  • Universal North America: $4,985 per year
The Cheapest Companies in Wilmington for Poor Credit, Ranked

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Getting Online Homeowners Insurance Quotes in Wilmington

To get online home insurance quotes in Wilmington, you’ll need to provide information including:

  • The replacement cost of your home: Insurers use the replacement cost of your home to determine the dwelling coverage level. Replacement cost is the actual cost of rebuilding your home and is not the same as its market value. You can get an estimate of the replacement cost of your home from a construction professional or building contractor.
  • The value of your personal property: You need to provide information about your personal property's value since your homeowners policy will cover it. Insurers will use this value to determine your home's appropriate personal property coverage limit.
  • Personal information: The insurer will require details including your address, the number of occupants in your home and your insurance history.
  • Information about your house: You need to provide details such as the year of construction of your home, its size and whether you have protective devices installed.
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Ensure you're getting the best rate for your home insurance. Compare quotes from the top insurance companies.

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Homeowners Insurance in Wilmington Analysis: Methodology

MoneyGeek reviewed home insurance quotes from ten insurance companies in Wilmington. Data were provided in partnership with Quadrant. Home insurance quotes were collected for a home with varying coverage levels to calculate affordability scores. Customer satisfaction ratings were drawn from J.D. Power surveys.

The base profile was for a home with 2,500 square feet, built in 2000 with dwelling coverage of $250,000, personal property coverage of $100,000 and liability coverage of $100,000. Policies had a $1,000 deductible. MoneyGeek also collected quotes for homeowners with newly constructed homes, increased dwelling or personal property coverage, higher deductibles and poor credit scores.

About the Author


expert-profile

Mark Fitzpatrick is a senior content manager with MoneyGeek specializing in insurance. Mark has years of experience analyzing the insurance market and creating original research and content. He graduated from Boston College with a Bachelor of Arts and Johns Hopkins University with a Master of Arts.