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Best homeowners insurance companies in North Carolina for 2024

Lisa McArdle is an insurance editor who joined the Bankrate team in 2023. She has more than 15 years of experience writing, editing and managing content in a variety of industries, including insurance, auto news and pop culture.

Thomas is a well-rounded financial professional, with over 20 years of experience in investments, corporate finance, and accounting. His investment experience includes oversight of a $4 billion portfolio for an insurance group. Varied finance and accounting work includes the preparation of financial statements and budgets, the development of multiyear financial forecasts, credit analyses, and the evaluation of capital budgeting proposals.

In a consulting capacity, he has assisted individuals and businesses of all sizes with accounting, financial planning and investing matters; lent his financial expertise to a few well-known websites; and tutored students via a few virtual forums.

Lisa McArdle is an insurance editor who joined the Bankrate team in 2023. She has more than 15 years of experience writing, editing and managing content in a variety of industries, including insurance, auto news and pop culture.

Thomas is a well-rounded financial professional, with over 20 years of experience in investments, corporate finance, and accounting. His investment experience includes oversight of a $4 billion portfolio for an insurance group. Varied finance and accounting work includes the preparation of financial statements and budgets, the development of multiyear financial forecasts, credit analyses, and the evaluation of capital budgeting proposals.

In a consulting capacity, he has assisted individuals and businesses of all sizes with accounting, financial planning and investing matters; lent his financial expertise to a few well-known websites; and tutored students via a few virtual forums.

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Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

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Bankrate’s insurance editorial team, which includes licensed agents, took a deep dive into homeowners insurance in North Carolina and came up with data-driven results to help you make the best decision for your home. Policyholders pay an annual average home insurance cost in North Carolina of $2,535 for $300,000 of dwelling coverage, which works out to about $211 a month.

We looked at more than price, though. Third-party scores for customer service and financial strength ratings were also evaluated, as was the ease of doing business online or through a mobile app. Finally, we looked at the range of coverage options and available discounts. All these factors were compiled to see which companies offer the best homeowners insurance in North Carolina. Here are some other notes to keep in mind:

Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

This content is powered by HomeInsurance.com, a licensed insurance producer (NPN: 8781838) and a corporate affiliate of Bankrate.com. HomeInsurance.com LLC services are only available in states where it is licensed and insurance coverage through HomeInsurance.com may not be available in all states. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

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Compare the best homeowners insurance companies in North Carolina

The average cost of homeowners insurance in North Carolina is $2,535 per year, or about $211 a month, for $300,000 in dwelling coverage. North Carolina homeowners insurance is, on average, slightly cheaper than the national average of $2,153 per year. Keep in mind that your own rate is likely to differ since it is based on multiple factors that are unique to your situation, such as the age and condition of your home, your ZIP code and more.

Bankrate's research indicates that the top five North Carolina homeowners insurance companies are USAA, Travelers, State Farm, Erie and North Carolina Farm Bureau. We evaluated these companies based on premium data from Quadrant Information Services, as well as third-party scores from J.D. Power's 2024 U.S. Home Insurance Study and AM Best financial strength ratings. We also looked at factors like the functionality of each company's website and app. Taking all this into account, we gave each insurer a Bankrate Score out of 5.0, where higher-rated companies fared better.

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Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

Bankrate's trusted insurance industry expertise

The home insurance market can be complicated, but Bankrate's insurance editorial team used our unique perspective to bring readers information they need to make educated decisions when shopping for home insurance.

46

years of industry expertise

122

carriers reviewed

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ZIP codes examined

1.2M

quotes analyzed

The top 5 home insurance companies in North Carolina

Best for military-focused coverage

4.7

4.7

Avg. premium for $300K dwelling

$253/mo

Avg. premium for $300K dwelling

$3,042/yr

Customer satisfaction

881/1,000

Why USAA made our list: Homeowners in North Carolina who qualify for USAA have a wide selection of coverage options to choose from, making it easy to build a policy that will meet your needs. The company has consistently earned high customer satisfaction scores per J.D. Power, despite its average premiums being a bit higher than the state average. The downside to USAA is that it is only available to veterans, active-duty military members and their immediate families.

Who USAA may be good for: Those who need military-focused coverage, including individuals stationed at Fort Bragg, New River or Camp Lejeune, may appreciate USAA's attention to their specific needs, which includes coverage for uniforms.

CheckmarkPros

Close XCons

Members of the military will appreciate USAA’s thoughtful homeowners insurance policies. USAA offers add-on options like:

Best for optional coverage

4.4

4.4

Avg. premium for $300K dwelling

$237/mo

Avg. premium for $300K dwelling

$2,848/yr

Customer satisfaction

856/1,000

Why Erie made our list: Erie is a regional carrier available through local independent agents in 12 states and Washington, D.C. The company offers the standard range of property coverage types and discounts but allows you to personalize your coverage with a range of optional endorsements. Erie home insurance typically includes animal coverage up to $500 and optional coverage for computer and equipment breakdowns. Although Erie is highly rated for customer satisfaction with J. D. Power — perhaps due to the service of its local agents — its Bankrate Score also reflects its limited state availability and premiums that may be higher than those of other carriers.

Who Erie may be good for: If your situation means that you need a policy that is customized to your own circumstances, check out Erie. The company's wide range of endorsements, or add-ons, gives you the flexibility to personalize your insurance to suit your needs.

CheckmarkPros

Close XCons

Erie is a regional insurance provider, but it offers competitive home insurance coverage to its policyholders. The company also allows its policyholders to add the following endorsements:

Best for local offices

4.2

4.2

Avg. premium for $300K dwelling

$77/mo

Avg. premium for $300K dwelling

$920/yr

Customer satisfaction

829/1,000

Why State Farm made our list: As the largest insurance company in the United States by market share, it may be no surprise that State Farm makes our list as one of the best homeowners insurance companies in North Carolina. If you prefer to do business in person, State Farm may be an excellent choice as it has hundreds of agencies throughout North Carolina. In addition to its low average rates, State Farm policyholders may be eligible for a unique perk not found with other companies — a free electrical fire monitoring device through its partnership with Ting.

Who State Farm may be good for: State Farm has low average rates for North Carolina, so if you're looking for the cheapest North Carolina homeowners insurance, it may be worth asking for a quote. Its high ranking on J.D. Power's list suggests it's also a good option for those who value responsive customer service.

CheckmarkPros

Close XCons

State Farm provides extensive coverage as the largest company for homeowners insurance in the U.S. However, it also gives policyholders the option to add:

Best for potential discounts

4.1

4.1

Avg. premium for $300K dwelling

Not available

Avg. premium for $300K dwelling

Not available

Customer satisfaction

790/1,000

Why Travelers made our list: Travelers is known for competitive average rates that are complemented by a handful of potential discounts that may lower your premium even more — including a home buyer discount and a discount for having a green home. You can personalize your policy with endorsements for jewelry, furs and other high-value items and add coverage for water backup and sump pump overflow. While coverage comes with an average premium that is lower than the state average, it may be worth considering that Travelers ranked near the bottom for customer satisfaction in the 2023 J.D. Power Home Insurance Study. However, Travelers has a low number of complaints for homeowners policies on the customer complaint index according to the National Association of Insurance Commissioners (NAIC).

Who Travelers may be good for: If saving money is most important to you, consider Travelers. Its listing of possible discounts is larger than some companies, and its average rate for North Carolina homeowners is the second lowest on our list.

CheckmarkPros

Close XCons

Travelers is known for allowing customers to customize their policies. Some additional endorsements that may be available include:

Best for local knowledge

4.1

4.1

Avg. premium for $300K dwelling

$159/mo

Avg. premium for $300K dwelling

$1,910/yr

Customer satisfaction

Not rated

Why North Carolina Farm Bureau made our list: If you are a member of the North Carolina Farm Bureau, you have access to home insurance through the organization. North Carolina Farm Bureau might be a good fit if you value working with agents who are local to your area and may more intimately understand the needs of homeowners in the state. However, the company’s digital tools aren’t as easy to use as some of its competitors, so if you like to handle your policy online or on your mobile phone, North Carolina Farm Bureau might not be a good fit.

Who North Carolina Farm Bureau may be good for: If you prefer to handle your insurance business with an in-person agent rather than a smartphone app, consider asking Farm Bureau for a quote. It might also be a good option if you're looking for guaranteed replacement cost coverage, which can pay up to 125 percent of your dwelling limit if you need to rebuild.

CheckmarkPros

Close XCons

North Carolina Farm Bureau is one of the largest and cheapest providers of home insurance in the state. Although its website doesn’t provide details about its options coverages, you can speak to an insurance agent about the following products:

Additional North Carolina home insurance companies to consider

Bankers Insurance Group

Who this may be best for

Homeowners looking for coverage specific to North Carolina.

Bankers Insurance Group contracts with carriers all over the country. But it still may be worth looking into, as the company specializes in certain states, including North Carolina. Particularly, those living on the coast in North Carolina may be interested in Bankers Insurance Group, as the company says it can tailor coverage to specific situations.

Lititz Mutual Insurance Company

Who this may be best for

Homeowners who want a regional insurance provider that offers low rates.

Lititz is a regional insurance provider, but it’s made up of four companies. Lititz Mutual offers standard homeowners insurance at competitive rates. North Carolinians can add a VIP or A Plus package for expanded coverage. Policyholders can rest assured that Lititz is financially sound. It received an A+ rating from the Better Business Bureau and AM Best gave it an A (Excellent).

How Bankrate chose the best home insurance companies in North Carolina

To help you find the best North Carolina homeowners insurance, Bankrate first assessed average rate data from Quadrant Information Services. We then analyzed coverage offerings and discounts, as well as how third-party organizations, including J.D. Power and AM Best, rate the carriers for customer service and financial strength. We compiled this information into a Bankrate Score. The better a company performed in each category, the higher its Bankrate Score, for a maximum score of 5.0 out of 5.0. Utilizing our Bankrate Score can help provide a quick picture of which insurance companies may be worth requesting quotes from during your home insurance search.

Compare home insurance rates

Answer a few questions to see personalized rates from top carriers.

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Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

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Cheapest home insurance companies in North Carolina

Recognizing which insurance providers usually offer the best rates in the state can help you get a jump on finding the cheapest homeowners insurance. The following providers offer some of the lowest average premiums in North Carolina. Keep in mind that coverage varies between the providers, so read policy quotes carefully.

How to get cheap home insurance in North Carolina

It’s typically not difficult to find the best cheap home insurance in North Carolina if you take your time with the decision and consider all your options. There are a number of insurers writing cost-effective policies in the state, including Bankrate’s five chosen companies. Any of them might be able to offer you a policy that will provide excellent protection for your home and property.

Here is a good step-by-step strategy to use when you are looking for cheap home insurance in the state.

Best home insurance discounts in North Carolina

Utilizing discounts that you qualify for might be one of the best ways to save money on your homeowners insurance in North Carolina. Most insurers have at least a few discounts available and they are generally not difficult to qualify for. Here are some of the common ones you may see while searching for your own policy:

How to save on home insurance policy renewals in North Carolina

Once you’ve found the best insurance provider for you, there are still ways you can save on your policy at renewal time:

How much is home insurance in North Carolina?

The average cost of North Carolina home insurance for 2023 is $2,535. This is 29 percent more than the national average of $2,153. Your rate may vary depending on where in the state you live, how populated your city is and what the crime rates are. Additionally, those in coastal regions may pay more to account for the increased risk of hurricanes and windstorms. Aside from your location, the current condition of your home and roof, as well as your claims history, might all impact your insurance rate depending on your state’s regulations.

North Carolina’s average annual home insurance rate falls between surrounding states’ rates. Tennessee homeowners pay $2,395 per year on average, and South Carolina homeowners pay $2,320 per year.

North Carolina homeowners insurance rates by city

Home insurance prices vary by city throughout the Tar Heel State, from coastal towns to mountain cities. Take a look at the data below to get an idea of how much North Carolinians pay for homeowners insurance by city.

*Rates are for $300,000 in dwelling coverage.

What does home insurance cover in North Carolina?

A standard HO-3 home insurance policy covers quite a few perils, like theft, vandalism, and hail, but there are some key perils that aren’t included, which is why it’s important to know what your policy covers. As a coastal state, North Carolina frequently sees damaging hurricanes and tropical storms that can lead to serious flooding. The state also experiences a high number of wildfires and damage caused by wind. Keep these weather events in mind when selecting your insurance coverage. Here are a few of the most common types of damage that might lead North Carolinians to file home insurance claims:

Additional home insurance coverage types in North Carolina

Standard home insurance policies cover your home, detached structures, personal belongings and liability exposure, but you may want to consider additional coverage for more robust financial protection. Here are a few coverage types North Carolinians could benefit from:

Related content:

North Carolina flood insurance Previously Read

Windstorm insurance Previously Read

What is earthquake insurance? Previously Read

Common North Carolina home insurance problems

North Carolina faces its share of severe weather, from coastal flooding to hurricane and wind damage. Insurers in the state look at claims and risk assessment tools like the hurricane hazard assessment tool to determine how costly it is to provide insurance coverage. Unfortunately, more frequent and severe storms are just a few of the challenges facing North Carolinians. Here are a few more problems with getting homeowners insurance in the state:

!

North Carolinians have been shocked by the recent news that Nationwide, one of the state’s biggest insurance providers, will no longer renew coastal properties for over 10,500 policyholders.

The move comes after the insurance provider utilized a hurricane hazard assessment tool and North Carolina’s Beach Plan, prepared by the North Carolina Insurance Underwriting Association.

According to their research, climate severity, weather-related losses, and the renewal market all make North Carolina a riskier market to insure. This led to the decision in February 2023 not to renew policies for properties due to hurricane risk.

Nationwide noted that these nonrenewed policies could eventually be renewed if the North Carolina Insurance Underwriting Association covers wind exposure and other underwriting guidelines are met.

For some North Carolinians, this move doesn’t come as a surprise. Nationwide hasn’t written new policies in coastal areas for over a decade. However, the company is trying to help customers find the coverage they need.

Frequently asked questions

What is the cheapest homeowners insurance company in North Carolina?

The cheapest home insurance provider for you will depend on numerous rating factors. These factors typically include your home’s size, age and rebuild cost, its proximity to a fire station, your ZIP code and other personal factors. If any discounts are available to you from your provider, your premium may be reduced. Keep in mind, though, that the cheapest home insurance company isn’t always the best home insurance company for your needs. Reviewing more than just price — including coverage options and third-party ratings — can be helpful when choosing a company.

The cheapest home insurance provider for you will depend on numerous rating factors. These factors typically include your home’s size, age and rebuild cost, its proximity to a fire station, your ZIP code and other personal factors. If any discounts are available to you from your provider, your premium may be reduced. Keep in mind, though, that the cheapest home insurance company isn’t always the best home insurance company for your needs. Reviewing more than just price — including coverage options and third-party ratings — can be helpful when choosing a company.

Are hurricanes and tropical storms covered in my basic homeowners insurance policy?

Hurricane and tropical storm damage may be covered by a basic homeowners insurance policy, but it depends on what kind of damage you sustain. Wind damage is usually included in standard home insurance policies, but in some high-risk areas, there may be exclusions that dictate the need to buy additional coverage. Flood damage is never covered by standard home insurance policies and typically requires a separate policy. In North Carolina, homeowners in certain counties are also subject to a hurricane deductible, which is often 1-5 percent of the home's insured value. Comparing home insurance quotes from several companies can be a helpful strategy to help ensure you’re getting the right coverage for your needs.

Hurricane and tropical storm damage may be covered by a basic homeowners insurance policy, but it depends on what kind of damage you sustain. Wind damage is usually included in standard home insurance policies, but in some high-risk areas, there may be exclusions that dictate the need to buy additional coverage. Flood damage is never covered by standard home insurance policies and typically requires a separate policy. In North Carolina, homeowners in certain counties are also subject to a hurricane deductible, which is often 1-5 percent of the home's insured value. Comparing home insurance quotes from several companies can be a helpful strategy to help ensure you’re getting the right coverage for your needs.

Does my homeowners policy include additional living expenses?

Usually, yes, standard home policies include additional living expenses coverage, also called loss of use coverage. This coverage is designed to pay for your expenses if you can’t live in your home due to a covered loss. The coverage might pay for things like hotel bills, temporary rental fees, restaurant meals, laundromat services and even boarding for your pets.

Usually, yes, standard home policies include additional living expenses coverage, also called loss of use coverage. This coverage is designed to pay for your expenses if you can’t live in your home due to a covered loss. The coverage might pay for things like hotel bills, temporary rental fees, restaurant meals, laundromat services and even boarding for your pets.

Methodology

Bankrate utilizes Quadrant Information Services to analyze May 2024 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on married male and female homeowners with a clean claim history, good credit and the following coverage limits:

The homeowners also have a $1,000 deductible, a $500 hail deductible and a 2 percent hurricane deductible (or the next closest deductible amounts that are available) where separate deductibles apply. 

These are sample rates and should be used for comparative purposes only. Your quotes will differ.

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