Living in North Carolina means having majestic mountains, incredible landscapes and hiking trails basically in your backyard, but the weather can be tricky. The Tar Heel State has a higher risk of natural disasters such as hurricanes, tornadoes, flooding, snow and ice storms and lightning strikes.
To find the top home insurance companies in North Carolina, we compared average annual premiums, discounts and coverage policies for the largest providers in the state. We also evaluated the customer satisfaction ratings, online resources and the flexibilities of their policies. In our list, we got national players in the home insurance industry that are part of the best cheap homeowners insurance companies like Erie Insurance and Nationwide. Other companies made it to our best homeowners insurance companies, like State Farm and USAA.
The 5 Best Homeowners Insurance Companies in North Carolina
Compare the Best Homeowners Insurance in North Carolina
| Reviews.com Score | Average Price | AM Best AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim. | J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality. | ||
|---|---|---|---|---|---|
| Pin Travelers | 4.25 | $738 | A++ | 796 | Show Details PROS
CONS
|
| Pin Nationwide | 3.75 | $750 | A+ | 796 | Show Details PROS
CONS
|
| Pin Erie Insurance | 4.25 | $919 | A+ | 838 | Show Details PROS
CONS
|
| Pin USAA | 4 | $1,090 | A++ | 878 | Show Details PROS
CONS
|
| Pin State Farm | 3.75 | $1,411 | A++ | 831 | Show Details PROS
CONS
|
Information as of 09/07/2020
Travelers
Travelers Insurance is a company with over 165 years in the insurance business offering an outstanding variety of policies across insurance industries such as auto, travel, event and umbrella coverage. Their comprehensive options allow their customers to bundle their multi-policies to save more money on their total premium costs.
Best for Eco-Friendly Homes
Why we chose it
Why we chose it
Pros
- National homeowners insurance coverage
- Multiple coverage options
- Discounts available for policy bundles and green homes
Cons
- Below average claims and customer satisfaction
- You might have to complete purchase over the phone
Discounts available
- Protective devices and smart home system
- Newly purchased home (up to 12 months)
Unique features
Travelers’ green home coverage will help repair, replace or rebuild with eco-friendly materials after you experience a loss.
*J.D. Power 2019 Home Insurance Customer Satisfaction Survey, based on a 1,000-point scale
Further Reading on Travelers:
- Travelers Homeowners Insurance Review
- Travelers Renters Insurance Review
- Travelers Auto Insurance Review
Nationwide
Nationwide offers multiple discounts and a wide variety of coverage. Their primary homeowners’ policies include dwelling, personal property, personal liability and even credit card coverage. This provider’s premiums are usually on the higher end, but that can be attributed to the value of the coverage you’re getting.
Best for Discounts
Why we chose it
Why we chose it
Pros
- Brand New Belongings policy
- Wide range of discounts
Cons
- Mobile app not geared toward homeowners insurance
Discounts available
- Home renovation credit
- Gated community discount
- Home purchase discount
Unique features
You can save money on your premium based on your roof’s age and surface type. If your belongings get damaged or stolen, the company will cover the full cost of repairing or replacing them.
*J.D. Power 2019 Home Insurance Customer Satisfaction Survey, based on a 1,000-point scale
Further Reading on Nationwide:
- Nationwide Homeowners Insurance Review
- Nationwide Motorcycle Insurance Review
- Nationwide Life Insurance Review
Erie Insurance
Erie has been in the insurance business for over 95 years. The company offers standard homeowners insurance and a variety of extras such as coverage for pets, expanded theft protection, guaranteed replacement cost among others. Erie is a good option to look at for homeowners in the 12 states they serve.
Best for Base Pay
Why we chose it
Why we chose it
Pros
- Thorough base policy
- Two options for flood insurance coverage
- Great customer satisfaction ratings
Cons
- No mobile app for home insurance
- Not many online capabilities
- Can’t file a claim online
Discounts available
- Multi-policy
- Advance quote discount
- Sprinkler system credit
Unique features
Erie offers one of the highest savings for multi-policy that could be found out there. The company advertises up to a 25% discount when you choose to bundle car and home insurance.
*J.D. Power 2019 Home Insurance Customer Satisfaction Survey, based on a 1,000-point scale
Further Reading on ERIE Insurance:
USAA
Like Amica, USAA appears at the top of rating lists for its excellent customer service, comprehensive policies, and fair prices. The only catch is that you must be a current or former member of the military community to purchase a policy — but if you are, the company should be your first stop.
Best for Military Families
Why we chose it
Why we chose it
Pros
- Outstanding customer service
- Policies tailored to military family needs
- Competitive pricing
Cons
- Only available to current and former military members and their families
- Limited discounts
Discounts available
- Save 10% if you bundle with auto
- Claims-free 10% discount
- Home security system discount
Unique features
USAA’s policies are written with service men and women in mind. This means they have details that anyone in the military can appreciate, such as full coverage for uniforms for active duty or deployed members.
*J.D. Power 2019 Home Insurance Customer Satisfaction Survey, based on a 1,000-point scale
Further Reading on USAA:
State Farm
State Farm offers above-average customer support along with competitive pricing and solid coverage options. For those new to home ownership, its Simple Insights blog can tell you everything you need to know about homeownership in general.
Best for Web Experience
Why we chose it
Why we chose it
Pros
- Financially strong
- Excellent web presence
- 19,000+ agents nationally
- Informative blog
Cons
- Limited discounts
- Higher premiums
Discounts available
- Multiple policy discount
- Fire, smoke, or burglar alarms discount
- Impact-resistant roof discount
Unique features
State Farm’s comprehensive website makes it easy to get a detailed quote in minutes. You can also pay your bill, file and manage a claim, and handle most maintenance tasks either online or via the company’s app.
*J.D. Power 2019 Home Insurance Customer Satisfaction Survey, based on a 1,000-point scale
Further Reading on State Farm:
Average Cost of Homeowners Insurance in North Carolina
According to the Insurance Information Institute, the average cost of homeowners insurance in North Carolina is $1,086, nearly $125 less than the national average of $1,211. When it comes to your homeowners’ insurance pricing rate, factors such as home’s age, size, location, and even your credit score can affect what you end up paying for the policy. Your property’s location is especially important in North Carolina due to flooding issues, but this also concerns crime rates and access to resources, which impact your premium. The cheapest home insurance company for you might be different than the ones we found for this article.
Home Insurance Add-Ons That Will Further Protect You
To find the best North Carolina homeowners insurance for you, check if you live near a river, a coast, or a flood plain because, in that case, it’s essential to consider purchasing flood coverage for your home.
It would be best if you considered that this state is also prone to hurricanes and tornadoes. These natural hazards can cause power outages, and disruption to food and water supplies as well. Additional add-ons such as refrigerated property coverage, guaranteed replacement cost coverages and personal property replacement cost might come in handy to save you money in the long run.
The Cheapest Homeowner Insurance Companies in North Carolina
| Largest Companies by Market Share in North Carolina | Average Annual Premium |
| Heritage Prop & Cas Ins Co | $557 |
| Lighthouse Prop Ins Corp | $567 |
| First Community Ins Co | $581 |
| Universal N Amer Ins Co | $584 |
| Lititz Mut Ins Co | $665 |
| North Carolina Farm Bur Mut Ins Co | $686 |
| Safeco | $711 |
| Travelers | $738 |
| Nationwide | $750 |
| Garrison Prop & Cas Ins Co | $847 |
| Erie Insurance | $919 |
| United Prop & Cas Ins Co | $988 |
| Metropolitan Insurance | $1,057 |
| USAA | $1,090 |
| State Farm | $1,411 |
Cost of Homeowners Insurance by Age of Home
| Age of Home (years) | Sample Annual Premium |
| 5 | $814 |
| 20 | $1,053 |
| 35 | $1,084 |
| 50 | $1,102 |
| Average Across Ages | $1,013 |
Top 3 Cheapest Homeowners Insurance Companies in North Carolina
- Heritage Property & Casualty Insurance Company – $557 average annual premium
- Lighthouse Property Insurance Company – $567 average annual premium
- First Community Insurance Company – $581 average annual premium
Top 3 Most Expensive Homeowners Insurance Companies in North Carolina
- State Farm – $1,411 average annual premium
- USAA – $1,090 average annual premium
- Metropolitan Insurance – $1,057 average annual premium
Helpful Resources for North Carolina Homeowners
One of the resources available for North Carolina residents is a comprehensive guide to homeowners insurance published by the NC Department of Insurance. The guide allows readers to make a more informed choice by explaining basic coverage, additional optional coverage, tips and loss prevention. In general, the state’s insurance agency is an excellent resource with more bite-sized articles detailing insurance basics, consumer tips, questions to ask your agent, and much more.
In terms of types of dangers that can affect you, your family and your property and other information homeowners can use to evaluate home insurance providers and their coverages, ReadyNC’s official website informs residents about potential hazards in the state.
Homeowners Insurance FAQ
Is Homeowners Insurance Required in North Carolina?
No, North Carolina law does not require homeowners insurance. But if you have a mortgage, your lender may require you to purchase a policy to protect its assets and cover your personal property.
What is the Cheapest Homeowners Insurance in North Carolina?
The cheapest homeowners insurance in North Carolina according to our research was Heritage Property & Casualty Insurance Company. But this homeowner’s company did not make the cut for the best homeowners insurance companies in North Carolina. The cheapest company in our top list was Travelers insurance with an average annual premium of $738. If you are looking for the most affordable insurance company for you, remember that a lot of factors would come into the equation for prices, so make sure you compare quotes of companies in your area.
Methodology
We evaluated the companies based on their customer rating and experience, financial stability, and coverage to determine the best providers. To compare home insurance companies across the board, we then calculated a Reviews.com score based on the following:
- Customer Ratings — Customer ratings are an indication of satisfaction with the process of filing a claim. We measured this using J.D. Power Homeowners Satisfaction ratings.
- Coverage — As there isn’t one company to fit everyone’s needs, we evaluated companies by the amount of coverage options and add-ons available.
- Confidence — It is extremely important for insurance companies to fulfill customers’ claims. Companies with sound financial strength will not have issues paying out claims, regardless of the amount. However, companies with weak financial strength might not be able to pay out claims. We measured this using AM Best’s ratings, which specializes in assessing the financial strength of insurance companies.
- Customer Experience — The amount of complaints a company receives is an indicator of the overall customer experience as it expresses dissatisfaction. We have based this measure on the NAIC National Complaint Index.
About the Authors
Nina Rodríguez-Quirós is a feature writer for Reviews.com. Over the last year, she has covered insurance providers, claims handling, coverage and more. She has been featured in Allconnect.com and holds a Master’s Degree in Theory and Research of Communications from the University of Puerto Rico. Her favorite review is Millennials and Auto Insurance.
