Average Costs and Cheapest Homeowners Insurance Companies in North Carolina

The average cost of homeowners insurance in North Carolina is approximately $1,498 per year. MoneyGeek determined the cheapest provider in the state and found Universal North America is the most affordable at roughly $946 annually. The costs used by MoneyGeek are for a sample policy and home. MoneyGeek also analyzed costs for different home types and people with varying backgrounds in North Carolina.

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Last Updated: 6/26/2022
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Universal North America is the overall cheapest provider and also the cheapest for residents with expensive homes in North Carolina. Travelers is the cheapest for those with newer homes or a pool, while Heritage is the cheapest if you have a poor credit score.

MoneyGeek determined the average cost of homeowners insurance in North Carolina using thousands of rates from different insurers.

If you’re looking to balance affordability with a strong service experience, MoneyGeek also scored the best home insurance companies in North Carolina.

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The Cheapest Homeowners Insurance in North Carolina

The Cheapest Homeowners Insurance Quotes in North Carolina

MoneyGeek estimated the average cost of homeowners insurance in North Carolina using thousands of quotes sourced across different dwelling coverage levels. Based on the estimates, Universal North America is the cheapest for a baseline coverage of $250,000 at roughly $946 per year.

The cheapest provider may vary depending on your dwelling coverage. In North Carolina, the top providers are:

  • Cheapest for $100,000: Heritage
  • Cheapest for $250,000: Universal North America
  • Cheapest for $500,000: Universal North America

To estimate how much dwelling coverage you need for your home, you can use its replacement cost. Toggle between the table below to see how rates change across different dwelling coverage levels.

CHEAPEST HOMEOWNERS INSURANCE BY DWELLING COVERAGE

Dwelling Coverage:

$250,000

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How Much Homeowners Insurance Costs in North Carolina on Average

How much is homeowners insurance in North Carolina? The cost of your homeowners insurance in the state depends on the dwelling coverage level you buy. A higher dwelling coverage results in increased rates and vice versa.

A policy with baseline dwelling coverage of $250,000 costs $1,498 per year. Meanwhile, dwelling coverage of $100,000 and $3 million will cost an average of $747 and $13,377 per year, respectively.

AVERAGE COST OF HOMEOWNERS INSURANCE BY DWELLING COVERAGE

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  • Dwelling Coverage
    Average Annual Premium
  • $100,000
    $747
  • $250,000
    $1,498
  • $500,000
    $2,609
  • $750,000
    $3,704
  • $1,000,000
    $4,765
  • $2,000,000
    $9,054
  • $3,000,000
    $13,377

Find the Cheapest Homeowners Insurance in North Carolina With MoneyGeek’s Calculator

To determine homeowners insurance cost in North Carolina, carriers assess multiple factors, including your home’s age, location, roofing quality, dwelling value, chosen deductible and others. Houses in locations that are more exposed to the risk of damage might have higher home insurance prices.

You can use MoneyGeek’s calculator to compare rates across different dwelling coverage levels, deductible amounts and other limits.

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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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on average

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

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The Cheapest Homeowners Insurance Companies for Expensive Homes

If you own an expensive home, MoneyGeek determined the most affordable homeowners insurance in North Carolina to ensure you find the best home insurance rates.

According to our research, the most affordable insurers on average for a policy with $2 million in dwelling coverage and an expensive home are:

  • Universal North America: $5,223 per year
  • Heritage: $5,527 per year

Your rates may vary from these figures depending on your dwelling coverage and background. MoneyGeek recommends that you compare quotes across companies if you want to secure the lowest rates.

CHEAPEST HOMEOWNERS INSURANCE COMPANIES FOR HIGH-VALUE HOMES

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The Cheapest Homeowners Insurance Companies for Newer Homes

MoneyGeek ranked the best homeowners insurance in North Carolina for newer homes by evaluating thousands of quotes across the state. The rates used for this analysis represent a sample policy for a home built in 2015 and a $250,000 dwelling coverage.

On average, the cheapest homeowners insurance in North Carolina for newer homes comes from:

  • Travelers: $757 per year
  • Nationwide: $1,154 per year

Rates can vary by $360 for newer homes in North Carolina built in 2015 versus a home built in 2000.

Note that costs for the homes built in 2000 may vary from the first section due to the difference in the ZIP code collection process.

CHEAPEST HOMEOWNERS INSURANCE COMPANIES FOR OLDER HOMES

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The Average Cost of Homeowners Insurance in North Carolina for Newer Homes

The average cost of homeowners insurance in North Carolina for newer homes is $1,247 per year, which is roughly $360 less than homes built in 2000.

Typically, you will pay more for homeowners insurance if you have an older home. This is because older homes have higher rebuilding and repair costs and are built using older materials that are prone to wear and tear. These materials are more expensive to replace.

AVERAGE COST OF HOMEOWNERS INSURANCE BY HOME AGE

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  • Year of Construction
    Average Annual Premium
  • 2015
    $1,267
  • 2000
    $1,626

The Cheapest Homeowners Insurance Companies in North Carolina if You Have a Pool

To determine the cheapest homeowners insurance in North Carolina for homes with pools, MoneyGeek evaluated costs from various insurers across the state.

The cheapest homeowners insurance companies on average for a home with a pool and a dwelling coverage of $250,000 are:

  • Travelers: $952 per year
  • Erie: $1,662 per year

USAA had the second-cheapest rate at $1,445 per year, although it’s not included in our rankings because its policies are limited to military members and their families.

Having a pool on your property can cause your insurance rates to increase considerably since insurers consider pools to be liabilities.

CHEAPEST HOMEOWNERS INSURANCE COMPANIES FOR HOMES WITH A POOL

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The Average Cost of Homeowners Insurance in North Carolina for Pool Owners

Homeowners insurance rates might be higher in North Carolina if you have a pool on your property. For dwelling coverage of $250,000, you will pay an average of $1,626 if you do not have a pool in your home. However, if you have a pool, you could pay approximately $1,649 per year for coverage.

AVERAGE COST OF HOMEOWNERS INSURANCE WITH AND WITHOUT POOL

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  • Have a Pool?
    Average Annual Premium
  • With Pool
    $1,649
  • No Pool
    $1,626

Cheapest Home Insurance in North Carolina if You Have Poor Credit

MoneyGeek compared thousands of quotes from insurers in North Carolina to find the best options for residents with poor credit scores.

From the findings, the top insurers on average for those with a poor credit score in North Carolina and dwelling coverage of $250,000 are:

  • Heritage: $979 per year
  • Auto Owners Insurance Company: $1,269 per year

If you have a poor credit score, you are likely to pay higher rates for homeowners insurance in North Carolina than residents with a good score. This is because your risk level is higher, and you are viewed as more likely to file a claim in the event of damage to your property.

CHEAPEST HOMEOWNERS INSURANCE COMPANIES FOR POOR CREDIT

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The Average Cost of Homeowners Insurance in North Carolina by Credit Score

Some insurance companies determine the average cost of homeowners insurance using several factors, including your credit score. A poor credit score results in higher coverage costs.

North Carolina residents with a high credit score could pay around $938 less than those with poor credit.

AVERAGE COST OF HOMEOWNERS INSURANCE BY CREDIT SCORE

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  • Credit Score
    Average Annual Premium
  • Poor
    $2,413
  • Below Fair
    $2,064
  • Fair
    $1,725
  • Good
    $1,474
  • Excellent
    $1,308

Cheap Homeowners Insurance Quotes in Your North Carolina City

The cost of homeowners insurance also varies depending on where you live. Insurers charge different rates for different cities. MoneyGeek determined rates across six cities in North Carolina and found that the cheapest city is Greensboro with an average cost of $1,348. The most expensive city is Fayetteville with an approximate cost of $2,081.

Heritage and Universal North America are the cheapest providers in the state. You can click on your city to see its average rates.

AVERAGE COST OF HOMEOWNERS INSURANCE BY CITY

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  • City
    Average Annual Rate
    Cheapest Company
    Average Annual Rate
  • $1,417
    Heritage
    $828
  • $1,524
    Universal North America
    $942
  • $2,081
    Heritage
    $1,521
  • $1,348
    Universal North America
    $812
  • $1,508
    Universal North America
    $942
  • $1,355
    Universal North America
    $812

How to Get Cheap Homeowners Insurance Quotes in North Carolina

You need to provide all the requested personal details to your carrier to get an accurate cost of your home insurance premiums in North Carolina. You’ll also need to provide an estimated cost of your home, your personal possessions in it as well as any installed add-ons. If you entertain a lot of visitors and guests, it’s wise to get medical payments protection to cover costs if any of them gets injured and sues you. The insurance firm will pose questions to you. Based on your responses, they will prepare a personalized quote for you.

To obtain an anonymous estimate of your costs, you can use the MoneyGeek home insurance calculator for North Carolina. Our rates are based on thousands of quotes collected from various insurers across the state.

FAQs About Home Insurance Costs in North Carolina

In North Carolina, homeowners insurance rates vary based on a variety of factors. These include your background as well as the dwelling coverage and insurer you choose.

Methodology

MoneyGeek analyzed homeowners insurance premiums from 10 of the top insurance companies in North Carolina that were provided in partnership with Quadrant. Our analysis includes quotes from ZIP codes across North Carolina. Quotes were gathered with an average home profile of 2,500 square feet, built in 2000, with an average dwelling coverage value of $250,000, liability coverage of $100,000 and personal property coverage of $100,000.

About the Author


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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.