Chapel Hill Homeowners Insurance

Your Complete Guide to Chapel Hill, NC Homeowners Insurance

Find the right homeowners insurance policy for you.

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The college town of Chapel Hill, NC is home to nearly 58,000 people. With its beautiful neighborhoods, nationally recognized public schools, and varied art and culture scene, this city is a wonderful place to raise a family. If you are among the proud property owners in Chapel Hill, you will want to be sure to have a reliable and comprehensive homeowners insurance policy. Independent Insurance Agents can help you obtain the best and most competitively priced insurance coverage for your Chapel Hill home. Find an insurance agent near you to start comparing a selection of customized homeowners insurance quotes.

How Much Does Homeowners Insurance Cost in Chapel Hill, North Carolina?

The average cost of homeowners insurance in North Carolina is slightly lower than the national average. But in Chapel Hill, where there are many high-value homes, the average cost is much higher. This makes shopping around for the best rate especially important.

  • National average yearly premium: $1,173
  • North Carolina average yearly premium: $1,075
  • Chapel Hill average yearly premium: $1,860

Of course, you can expect your actual home insurance quotes to be different from the average Chapel Hill rate shown above. This is because insurance costs are calculated on a case-by-case basis and are based on several considerations that may include:

  • The age, value, and square footage of your house
  • The materials used in your home’s construction
  • The crime rate and weather risks in your ZIP code
  • Your claims history and credit score
  • Whether you are bundling your coverage with other policies like car insurance, life insurance, or business insurance

Each insurance company has its own way of computing costs, so comparing a variety of quotes enables you to choose the home insurance policy that offers you the best value for your money. Independent insurance agents in Chapel Hill make comparison shopping easy.

Homeowners Insurance Offers Coverage against Burglary in Chapel Hill

The burglary rate in North Carolina is much higher than the national rate. However, in Chapel Hill, the risk is slightly lower than the national average. This city averages about 300 burglaries a 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 Chapel Hill: 4.67

If your house is broken into, it can be very stressful to deal with the invasion of your privacy and the loss of your belongings. The good news is that your home insurance can reimburse you for your losses as well as for any damage the burglars may have done to your home. Your local insurance agent can help you be sure that your contents coverage is high enough and that your most valuable possessions are properly insured. Sometimes this involves purchasing special endorsements or riders to cover things like collections or fine art.

Of course, it is best to avoid being burglarized altogether. Home security systems are among the most effective theft deterrents. That is why many insurance companies offer discounts to policyholders who have burglar alarms. Talk to an independent insurance age to learn more about this and other available discounts.

Catastrophic Events in North Carolina

Chapel Hill homeowners insurance is designed to cover you against most of the hazards you are likely to face as a resident of this North Carolina city. This includes everything from out-of-control household fires to inclement weather events like heavy winds, hail, and hurricanes.

  • 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.

Hurricanes pose the most significant risk in this city. Although most home insurance policies cover against the wind and rain damage a hurricane can bring, they do not cover flood damage, even when the flood is the direct result of a covered hurricane. The good news is that Chapel Hill is an NFIP-participant city, so a local independent agent can help you supplement your home coverage with an affordable, government-backed flood insurance policy. Talk to your insurance agent to learn more.

Liability Insurance for Chapel Hill Homeowners

If you do not have insurance protection, a liability lawsuit could potentially lead to a catastrophic financial loss, which could cause you to lose your home. That is why your homeowners insurance also provides you with personal liability coverage. Homeowners liability insurance is designed to cover your court costs, legal defense fees, and damages if you or someone in your household is responsible for third-party injuries or property damage. Some examples of times this liability coverage may be of use include:

  • A visitor to your home is seriously injured in an accident.
  • Your child breaks a neighbor’s window while playing ball with friends.
  • Your dog gets loose and bites a delivery man.
  • You accidentally break a friend’s ankle during a friendly game of basketball in the park.

If you want to have more liability coverage than your home insurance policy will offer, you can supplement your coverage with an umbrella insurance policy. This is an affordable way to significantly raise all of your liability coverage. 

Second Home and Vacation Home Insurance

Some Chapel Hill residents own additional houses. Maybe you have a vacation home on Pleasure Island, or perhaps you own a house near the UNC campus that you rent out to students or visiting professors. If you own more than one house, you will need to cover all of your properties with appropriate home insurance policies. A house that does not serve as your primary residence often has additional risk factors that insurance companies will take into consideration. These properties may, therefore, need specialized home insurance coverage. 

  • Vacation homes that are left unoccupied for several months out of the year have an increased risk of property damage and burglaries. These houses may need to be covered by vacant home insurance during the times they are not being used. 
  • Second homes that are occupied by renters have lower contents coverage needs, but higher liability risks. If you are leasing out your home to tenants, the property will need to be covered by landlord insurance.

A local independent insurance agent can help you find appropriate policies to cover all of your residential properties.

Why Work with One of Chapel Hill’s Independent Insurance Agents?

The easiest way to find the right homeowners insurance policy is by working a local independent agent. These agents work for you, not for an insurance company, so you can be sure that you are receiving trustworthy guidance in your search for reliable coverage at an affordable rate.

Contact an independent insurance agent with an office in or near Chapel Hill to start comparing customized, competitively priced home insurance quotes.

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