Cheapest Homeowners Insurance in North Carolina (2024 Rates)


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ByMark Fitzpatrick
Edited byRae Osborn
ByMark Fitzpatrick
Edited byRae Osborn

Updated: May 22, 2024

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In North Carolina, homeowners have access to a variety of cost-effective home insurance options, such as State Farm. State Farm remains the top pick whether you own a high-value home or need coverage for a new property. Even homeowners with poor credit scores, those with claims history and high deductibles can benefit from their budget-friendly options. For bundled insurance packages, State Farm is the best option.

MoneyGeek Logo IconCheapestHome InsuranceNorth Carolina
2024

Why Trust MoneyGeek? MoneyGeek used information from the North Carolina Department of Insurance and Quadrant Information Services to obtain data on insurance rates, discounts and more.

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These rates reflect the cheapest home insurance quotes in North Carolina as of 2024.

Overall Cheapest Homeowners Insurance in North Carolina

The cheapest home insurance company in North Carolina for $100K in dwelling coverage is State Farm, with a yearly premium of $611. Bear in mind that home insurance rates significantly change based on your dwelling coverage. Consider the following options:

  • Cheapest for $100,000: State Farm at $611 per year
  • Cheapest for $250,000: State Farm at $1,061 per year
  • Cheapest for $500,000: State Farm at $1,514 per year

Compare cheap home insurance to understand how costs adjust with dwelling coverage.

Data filtered by:Results filtered by:
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
Construction Year:
Construction Year:2000
State FarmAnnual Premium$611
Auto-Owners InsuranceAnnual Premium$1,144
Heritage InsuranceAnnual Premium$1,529
NationwideAnnual Premium$1,950
FarmersAnnual Premium$2,152
ErieAnnual Premium$2,195

Compare North Carolina Home Insurance Quotes Online

Comparing rates from different companies is a smart move to get cheap home insurance in North Carolina. Use MoneyGeek’s home insurance calculator for convenient access to North Carolina quotes without sharing personal details initially.

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Rates updated:

Jun 23, 2024

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California
26-29
Excellent (750-850)
Home
$500,000
$500
$150,000
$100,000
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User Info
California
26-29
Excellent (750-850)
Home
$500,000
$500
$150,000
$100,000

Cheapest Home Insurance in North Carolina for High-Value Homes

State Farm is the best option for home insurance for high-value homes in North Carolina as it provides the lowest rate for $750K in dwelling coverage, charging an average of $2,009 annually. Since dwelling coverage largely impacts home insurance costs, higher-value homes can face higher premiums. Check out the most budget-friendly options:

  • Cheapest for $750,000: State Farm at $2,009 per year
  • Cheapest for $1MM: State Farm at $2,516 per year

Securing dwelling coverage for your home’s rebuild cost, separate from property value, is a wise decision. Discover more about varying dwelling coverage costs with MoneyGeek.

Data filtered by:Results filtered by:
Coverages:
Coverages:$750K Dwelling / $375K Personal Property / $500K Liability
Construction Year:
Construction Year:2000
State FarmAnnual Premium$2,009
Auto-Owners InsuranceAnnual Premium$5,594
UPC InsuranceAnnual Premium$7,295
Heritage InsuranceAnnual Premium$7,441
ErieAnnual Premium$10,856
FarmersAnnual Premium$12,452
NationwideAnnual Premium$12,518

Cheapest Home Insurance in North Carolina for New Homes

In North Carolina, the most affordable home insurance for new homes, specifically for a $100K dwelling coverage, is offered by Nationwide at an annual premium of $138. Lower insurance costs in the state can be attributed to newer homes typically being more structurally sound and containing efficient security and safety features, therefore presenting fewer risks. Here are the cheapest insurers for varying dwelling coverages:

  • Cheapest for $100,000: Nationwide at $138 per year
  • Cheapest for $250,000: Nationwide at $245 per year
  • Cheapest for $500,000: Nationwide at $411 per year

Look over MoneyGeek's detailed table to understand how costs fluctuate based on dwelling coverages for newly constructed homes in North Carolina.

Data filtered by:Results filtered by:
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
NationwideAnnual Premium$138
State FarmAnnual Premium$190
Auto-Owners InsuranceAnnual Premium$476
Heritage InsuranceAnnual Premium$657
FarmersAnnual Premium$1,176
ErieAnnual Premium$1,632

Cheapest Home Insurance in North Carolina for Low Credit Scores

For those with poor credit in North Carolina, State Farm offers the most affordable home insurance for $100K in dwelling coverage, charging an average of $1,506 annually. Credit scores are pivotal, as insurers consider it to measure the risk of a policyholder defaulting on payments.

  • Cheapest for $100,000: State Farm at $1,506 per year
  • Cheapest for $250,000: State Farm at $2,618 per year
  • Cheapest for $500,000: State Farm at $3,735 per year

The impact of a poor credit score is clear when comparing the yearly average home insurance cost for those with poor credit ($3,975) versus those with good credit ($1,597) for $100K in dwelling coverage.

Data filtered by:Results filtered by:
Credit Score:
Credit Score:Poor
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
Construction Year:
Construction Year:2000
State FarmAnnual Premium$1,506
Heritage InsuranceAnnual Premium$1,683
FarmersAnnual Premium$2,900
NationwideAnnual Premium$4,085
ErieAnnual Premium$6,370
Auto-Owners InsuranceAnnual Premium$7,305

Cheapest Home Insurance in North Carolina with a Claims History

State Farm is the most affordable home insurance provider in North Carolina for those who have filed one claim in the past 5 years and own a home built in 2000. Be aware, though, that having a history of claims can lead to higher premiums. Here's a rundown of the cheapest options for various coverage levels:

Cheapest for $100,000: State Farm at $611 per year Cheapest for $250,000: State Farm at $1,061 per year Cheapest for $500,000: State Farm at $1,514 per year

It's important to note that in North Carolina, homeowners with two previous claims pay an average of $646 more per year than those with no claims. Remarkably, you can save that amount by keeping a clean claim record.

Data filtered by:Results filtered by:
Claims History:
Claims History:1 claim in past 5 years
Construction Year:
Construction Year:2000
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
State FarmAnnual Premium$611
Auto-Owners InsuranceAnnual Premium$1,144
Heritage InsuranceAnnual Premium$1,735
ErieAnnual Premium$2,195
NationwideAnnual Premium$2,506
FarmersAnnual Premium$3,054

Cheapest Home Insurance in North Carolina by Home and Roof Materials

The type of home construction and roof materials significantly influence the cost of home insurance. For a "frame" construction type home with a shake-treated roof in North Carolina, State Farm offers the most economical annual premium. Such home characteristics tend to drive up the cost of insurance due to their susceptibility to damage.

Here are the most competitive offers from State Farm in North Carolina for the specified coverage values:

  • Cheapest for $100,000: State Farm at $611 per year
  • Cheapest for $250,000: State Farm at $1,061 per year
  • Cheapest for $500,000: State Farm at $1,514 per year

Your choice of frame construction with a shake-treated roof can add to your insurance costs. The annual premiums can be as much as $473 higher compared to superior construction with a tile roof. This shows the substantial cost savings possible with higher-quality building materials. Remember, low-risk homes attract lower insurance costs. This advice is particularly relevant for North Carolina residents given the state's vulnerability to severe weather events like hurricanes and hailstorms. Therefore, investing in durable construction materials may save you money in the long term.

Data filtered by:Results filtered by:
Home Construction Type:
Home Construction Type:Frame
Roof Material:
Roof Material:Shake-Treated
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
State FarmAnnual Premium$611
Auto-Owners InsuranceAnnual Premium$1,144
Heritage InsuranceAnnual Premium$1,529
NationwideAnnual Premium$1,950
FarmersAnnual Premium$2,152
ErieAnnual Premium$2,195

Cheapest Home Insurance in North Carolina by Deductible

Adjusting your deductible could save hundreds annually. In North Carolina, the most affordable house insurance provider for a $2,000 deductible is Nationwide, charging $397 per annum. Yet, for a $500 deductible, State Farm is the most economical at $944 yearly.

The least expensive insurers for $100K in dwelling coverage are:

  • $2,000 deductible: Nationwide at $397 per year
  • $1,500 deductible: State Farm at $588 per year
  • $1,000 deductible: State Farm at $611 per year
  • $500 deductible: State Farm at $944 per year

Deductibles in home insurance are paid out-of-pocket before coverage applies. The average differential between a $500 and $2,000 deductible is $850.

Data filtered by:Results filtered by:
Deductible:
Deductible:2000
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
Construction Year:
Construction Year:2000
NationwideAnnual Premium$397
State FarmAnnual Premium$526
Auto-Owners InsuranceAnnual Premium$973
Heritage InsuranceAnnual Premium$1,340
FarmersAnnual Premium$1,702
ErieAnnual Premium$1,962

Cheapest Home and Auto Bundle Insurance in North Carolina

Discover unbeatable savings with North Carolina's cheapest home and auto bundle policy offered by State Farm at a yearly rate of $1,256. You can reap significant discounts by uniting home and auto insurance.

  • State Farm at $1,256 per year
  • Kemper at $2,087 per year

Beyond monetary savings, bundling offers the convenience of managing both policies under one insurer. It eases the insurance process, letting buyers manage policies more effectively with a single touchpoint. Discover more about the best North Carolina insurance bundle and unlock these benefits.

State FarmAnnual Premium$1,256
KemperAnnual Premium$2,087
NationwideAnnual Premium$2,594

Cheapest Home Insurance in North Carolina by City

State Farm is the most affordable home insurance provider in a majority of North Carolina cities, offering rates at $212. Costs considerably vary between cities depending on local building codes, weather risks, and crime rates.

  • For instance, Greensboro enjoys the lowest annual premium from the cheapest company, State Farm, at $212.
  • Conversely, Wilmington has the priciest annual premium also for State Farm, reaching up to $4,328.

It's crucial to shop around as insurers calculate rates differently for each region, potentially leading to major savings.

CaryCheapest CompanyState FarmAnnual Premium$283
CharlotteCheapest CompanyState FarmAnnual Premium$216
DurhamCheapest CompanyState FarmAnnual Premium$269
FayettevilleCheapest CompanyState FarmAnnual Premium$443
GreensboroCheapest CompanyState FarmAnnual Premium$212
High PointCheapest CompanyState FarmAnnual Premium$220
RaleighCheapest CompanyState FarmAnnual Premium$275
WilmingtonCheapest CompanyState FarmAnnual Premium$4,328
Winston-SalemCheapest CompanyState FarmAnnual Premium$250

About Mark Fitzpatrick


Mark Fitzpatrick headshot

Mark Fitzpatrick has analyzed the property and casualty insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. Currently, he leads P&C insurance content production at MoneyGeek. Fitzpatrick has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.

Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.