Insurance
North Carolina Homeowners Insurance Calculator: Free Cost Estimator (2024)
Updated: May 22, 2024
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MoneyGeek’s home insurance calculator will give you a ballpark estimate of your cost — it’s free, no personal information required, no spam.
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Jul 26, 2024
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Overall, the cheapest homeowners insurance provider in North Carolina based on MoneyGeek’s analysis is Universal North America. Buyers can expect to pay around $946 per year for a dwelling coverage of $250,000.
For those looking for an ideal balance of cost and quality, MoneyGeek also determined that the best overall homeowners insurance provider in North Carolina is Auto-Owners Insurance Co.
How to Estimate the Cost of Your Homeowners Insurance Policy in North Carolina
Depending on your needs, the cost of homeowners insurance in North Carolina can vary. To get a personalized estimate for your policy, you can enter details into our calculator, such as your desired dwelling coverage, deductible and credit score.
North Carolina
The cost of home insurance in North Carolina can vary based on a number of factors.
Your location plays a huge part in determining your home insurance rates. Areas with higher incidents of theft, crime or weather-related disasters may pay higher rates than less risky locations.
Dwelling Coverage
Dwelling coverage can help pay for the cost of rebuilding or repairing your home after damage. Factors such as the age of your house, number of floors you have, your home’s construction materials, your heating and plumbing system and location can impact the overall cost.
You will want to make sure you have enough dwelling coverage to pay for the cost of fully rebuilding your home in a covered event.
Deductible
A deductible is an amount you must pay before your insurance provider begins to cover those costs. Typically, the higher your deductible, the lower the cost of your premium.
Although a high deductible can save you money on your premium, you should ensure that you have enough money to cover the cost of your deductible in the event that you need to file a homeowners insurance claim.
Liability
Personal liability covers the legal fees, repair costs and medical bills that you’ll need to pay if someone else gets injured on your property.
However, personal liability does not cover bodily injury intentionally caused by you or a family member.
You can increase this coverage by thousands for just a few extra dollars.
Personal Property
Personal property insurance covers the cost of damage or replacement for items in your home, such as clothing, furniture and electronics.
You can use the calculator below to calculate the value of your personal property. Simply take an inventory of the valuable items in your home.
Credit Score
A higher credit score can lower the cost of your homeowners insurance premium, while a lower credit score can increase your annual rate. However, this depends on the state that you live in. In some states, your credit score will not impact the cost of your premium.
To get your credit score, you can request a free annual credit report from Equifax, Experian or TransUnion.
Personal Property Coverage Calculator
When figuring out how much renters insurance you need, experts recommend the standard $100,000 in liability insurance and enough personal property protection to cover your possessions. Use MoneyGeek's calculator to estimate the value of your possessions so you know how much personal property coverage to buy.
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Average Cost of Home Insurance in North Carolina
According to MoneyGeek’s data, North Carolina is currently ranked 26th out of 50 states in terms of affordability for $250,000 of dwelling coverage, which is slightly more affordable than average. Most North Carolina homeowners pay an average annual premium of $2,114.
However, if you need different amounts of dwelling coverage to pay for the cost of home repairs, you can consult the table below for other cost estimates.
Average Annual Premium in North Carolina for Homeowners Insurance
| $100,000 | Average Annual Premium$1,365 |
| $250,000 | Average Annual Premium$2,114 |
| $500,000 | Average Annual Premium$4,729 |
| $750,000 | Average Annual Premium$6,695 |
| $1,000,000 | Average Annual Premium$8,613 |
| $2,000,000 | Average Annual Premium$16,332 |
| $3,000,000 | Average Annual Premium$24,101 |
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You should purchase enough dwelling coverage to pay for the cost of rebuilding your property after it is destroyed. Insurance companies establish this value using a combination of algorithms, market research and public data. However, it can vary significantly depending on the size and age of your home as well as other factors.
For a more accurate estimate of your home’s value, you can get an appraisal. In addition, you can also consider looking into extended replacement coverage, guaranteed replacement cost and inflation guard to ensure you aren’t left with a huge bill if you need to rebuild your home.
Average Cost of Home Insurance in North Carolina Cities
Depending on the city where you live, the cost of home insurance premiums can vary due to the likelihood of natural disasters, crime rates and differences in rebuilding costs. MoneyGeek’s table below can help you compare the average premiums across different cities in North Carolina.
Average Annual Premium in North Carolina Cities for Homeowners Insurance
| Charlotte | Average Annual Premium ($100K Dwelling Coverage)$974 | Average Annual Premium ($250K Dwelling Coverage)$1,781 |
| Durham | Average Annual Premium ($100K Dwelling Coverage)$1,050 | Average Annual Premium ($250K Dwelling Coverage)$1,900 |
| Fayetteville | Average Annual Premium ($100K Dwelling Coverage)$1,416 | Average Annual Premium ($250K Dwelling Coverage)$2,812 |
| Greensboro | Average Annual Premium ($100K Dwelling Coverage)$927 | Average Annual Premium ($250K Dwelling Coverage)$1,682 |
| Raleigh | Average Annual Premium ($100K Dwelling Coverage)$1,036 | Average Annual Premium ($250K Dwelling Coverage)$1,887 |
| Wilmington | Average Annual Premium ($100K Dwelling Coverage)$4,733 | Average Annual Premium ($250K Dwelling Coverage)$9,387 |
| Winston-Salem | Average Annual Premium ($100K Dwelling Coverage)$925 | Average Annual Premium ($250K Dwelling Coverage)$1,829 |
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According to MoneyGeek’s research, the best overall company for homeowners insurance in the U.S. is Allstate if cost isn’t a factor for you. It offers effective customer service and has good value for your money across its range of plans.
You can also consult MoneyGeek’s detailed analysis of top home insurance options to help you find the best fit for your needs. We’ve selected our top picks based on service, bundles, online tools and a variety of other factors.
Frequently Asked Questions About Home Insurance in North Carolina
If you still have questions about the average home insurance cost in North Carolina or how much coverage to buy, here are some of the answers that might help.
How much does homeowners insurance cost in North Carolina?
The cost of homeowners insurance in North Carolina can vary depending on your city, but you can expect to pay around $2,114 per year for $250,000 of dwelling coverage. It is one of the cheaper states for homeowners insurance, costing 13% cheaper than the national average.
How do I know how much dwelling coverage to get?
The average dwelling coverage in North Carolina is $250,000. However, the right amount of dwelling coverage for your needs will depend on the size of your home, value of your assets, age of your home and overall appetite for risk. To get an accurate estimate of your home’s value, you can hire a professional appraiser or use an online valuation tool.
Insurance
Methodology
To determine the average cost of homeowners insurance in North Carolina, MoneyGeek sourced pricing data from Quadrant Information Services.
MoneyGeek chose a standard home profile to provide the most reliable and relevant data for developing a thorough analysis of homeowners insurance. This standard home profile consists of the following attributes:
- Construction year: 2000
- Construction type: Frame
- Composition roof
- Three-mile radius from the fire department
- Assumed value of other structures on the property: 10% of the dwelling coverage
- Personal property coverage: 40% of the dwelling coverage
- Liability limit: $100,000
- Deductible: $1,000
About Mark Fitzpatrick
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.