Your Complete Guide to Cary, NC Homeowners Insurance | Trusted Choice

Cary Homeowners Insurance

Your Complete Guide to Cary, NC Homeowners Insurance

Find the right homeowners insurance policy for you.

Meg Stefanac | March 2, 2020

The town of Cary is home to nearly 166,000 people. Residents are attracted to this rapidly growing city because of its low crime rate, wide variety of public and recreational facilities, and thriving economy. If you own a house in this affluent North Carolina town, you will want to be sure to protect your investment with a suitable home insurance policy. When you are shopping for the right insurance coverage for your home, a local independent insurance agent can help. Contact an agent near you to start your search for the best homeowners insurance policy in Cary.

Cost of Homeowners Insurance in Cary, NC

North Carolina is the 26th most expensive state for home insurance. Homeowners insurance rates are comparatively low in this state; however, in Cary, the average rate is significantly higher. Shopping around for rates can save you hundreds of dollars.

  • National average yearly premium: $1,173
  • North Carolina average yearly premium: $1,075
  • Cary average yearly premium: $1,662

Actual home insurance quotes will vary from the rate shown above, especially in a city like Cary where you can find a wide range of home values. Home insurance rates are calculated on a case-by-case basis and are based on factors such as: 

  • The size of your house, the year it was built, and the age of your roof
  • The estimated cost to rebuild your home
  • Your claims history and credit score
  • The amount of your deductible
  • Whether you are bundling your homeowners coverage with other policies like car insurance, life insurance, or business insurance

Every insurance company has its own formula for calculating rates, so they are all likely to quote you a different amount for your coverage. Comparing rates lets you choose the homeowners insurance policy that offers the coverage you want at the best price. Independent agents in Cary make comparison shopping easy.

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Burglary Rate in Cary, NC

The burglary rate in Cary is significantly lower than the national rate. This does not mean the risk does not exist, however. There are more than 300 burglaries reported in this town every year. 

  • Number of burglaries per 1,000 homes in the US: 4.69
  • Number of burglaries per 1,000 homes in North Carolina: 7.10
  • Number of burglaries per 1,000 homes in Cary: 2.10

There are precautionary steps you can take to safeguard your home against burglaries. Home security systems, in particular, make excellent theft deterrents. In fact, many insurance companies offer discounts to policyholders who have installed burglar alarms in their homes. If you are the victim of a burglary, you may get some relief from knowing that your home insurance company can reimburse you for the resultant loss and damage. Be sure to keep a copy of the police report, because you will need it when you file a claim. Your independent insurance agent can advise you throughout the claims process.

Catastrophic Events in North Carolina

  • Number of declared disasters in North Carolina: 58
  • Most common reasons for disasters in the state: Hurricanes and Floods
  • Average number of tornadoes per year in North Carolina: 29.1
  • Average amount of property damage per year in NC:  $1,379,438,000
  • 1 in 15 insured homes has a claim each year.

Your home insurance policy is designed to provide coverage against many of the risks you are likely to face as a homeowner in Cary. This includes hazards such as accidental fires, property crimes, and severe weather events like hurricanes and tornadoes. Your independent agent can help you review your contents coverage to be sure that you are sufficiently covered. Sometimes, if you own any highly valuable property such as heirlooms or collections, your contents coverage will not be enough to cover them. In that case, you would have to look into adding special endorsements or riders.

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Liability Insurance for Cary, NC Homeowners

Your home insurance also covers you against some of the liability lawsuits you could potentially face as a homeowner. Most people never need to use the personal liability insurance provided by their home policies, but when they do, they are glad they have it. This coverage can shield you from experiencing large financial losses because of an expensive lawsuit. Homeowners liability insurance is designed to cover expenses such as court costs, legal defense fees, and damages if you are sued for a covered event. 

This insurance is designed to cover lawsuits related to third-party injuries that occur on your property, damage caused by your pets or children, accusations of libel or slander, and other acts of negligence. Many residents of Cary have a lot to lose. Supplementing your homeowners liability insurance with an umbrella policy can provide you with far more liability coverage than your home insurance can offer. This enables you to fully protect your savings, investments, and other assets. An independent agent can explain more about your liability insurance options.

Second Home and Vacation Home Insurance

If you are among the Cary residents who own more than one house, your independent agent can help you appropriately cover all of your properties. A house that is not your primary residence has additional risk factors, which insurance companies will take into consideration when calculating rates. These homes may, therefore, cost a bit more to insure.

Vacation homes are often left unoccupied and unattended for several months of the year. This increases their risk of property damage, so these properties may need to be covered by vacant home insurance. Additionally, second homes that are used as rental properties have higher liability risks. In this case, the house would need to be covered by a landlord insurance policy if it is occupied by tenants. Your local independent agent can help you find the best and most affordable policies to cover all of your houses.

Why Work with an Independent Insurance Agent?

Independent insurance agents make it fast and easy to find the best policy to cover your Cary home. These agents can work with several different insurance providers to make sure you are getting the coverage you need at the lowest rate. 

Find an agent in or near Cary to learn more, and you can soon be comparing customized home insurance quotes from an assortment of highly-rated insurers.

Sources © 2020, Consumer Agent Portal, LLC. All rights reserved.

http://www.naic.org/prod_serv/AUT-PB-14.pdf
https://www.census.gov
http://www.city-data.com

© 2020, Consumer Agent Portal, LLC. All rights reserved.

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