Charlotte Homeowners Insurance

Your Complete Guide to Charlotte, NC Homeowners Insurance

Find the right homeowners insurance policy for you.

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More than 859,000 people live in the rapidly growing city of Charlotte. With its diverse population and its nearly 200 distinct neighborhoods, this city offers something for everyone. Whether you grew up in the Charlotte area or recently moved to this lively city for your job, you will want to be sure to protect the investment you have made in your home with a suitable homeowners insurance policy. When you are shopping for insurance for your Charlotte home, an independent insurance agent can help you find the best and most affordable coverage. Contact an agent with an office near you to learn more.

How Much Does Homeowners Insurance Cost in Charlotte?

North Carolina is the 26th most expensive state for home insurance. The average cost of homeowners insurance in this state is lower than the national rate, and in Charlotte, where severe weather events are not very common, costs are even lower. This is good news if you are in the market for an affordable policy.

  • National yearly premium average: $1,173
  • North Carolina yearly premium average: $1075
  • Charlotte yearly premium average: $938

Insurance companies calculate rates individually. They are based on several factors such as the age, size and value of your home, the crime rate and weather risks in your ZIP code, the amount of coverage you are purchasing, and, often, even your credit score. Given the wide range of home values in the Charlotte area, you can expect rates to vary significantly within this city. In many cases, if you bundle your home insurance with other policies like car insurance or life insurance, you can get all of your policies at reduced rates. An independent agent in Charlotte can help you find comprehensive home insurance at the most competitive price.

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Burglary Rate in Charlotte, NC

The burglary rate in North Carolina is higher than the national average, and in Charlotte, the rate is even higher. About 6,700 burglaries are reported in this city every year. Fortunately, your home insurance can reimburse you for losses caused by property crimes.

  • 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 Charlotte: 8.95

If your house is broken into, you should first make sure that you and your family are safe, and then call the police. You will need a copy of the police report when you file an insurance claim. There are a few preventive measures you can take to lower your risk of a robbery. Home security systems are among the most highly effective theft deterrents, which is why insurance companies frequently offer discounts to policyholders who have installed burglar alarms in their houses.

Catastrophic Events in North Carolina

In 1989, an F4 tornado touched down in the Charlotte suburb of Indian Trail. Several homes were destroyed or badly damaged. In 1994, another twister touched down near the Charlotte Douglas International Airport, causing extensive damage to area homes and businesses. Your homeowners insurance is designed to cover you against many of the hazards, such as tornadoes, that you are likely to face as a property owner in Charlotte.

  • 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.

The property coverage included in your home insurance is divided into two parts: building and contents. The first covers the structure of your house, and the second covers your personal belongings. You will want to be sure you have a sufficient amount of coverage in each category so that you can afford to rebuild, repair, and replace following a catastrophic event like a fire or tornado.

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Liability Coverage for Charlotte Homeowners

Homeowners insurance also provides policyholders with personal liability insurance. This insurance absorbs the costs associated with most of the liability lawsuits you are likely to face as a property owner. Examples of times your homeowners liability insurance may protect you include:

  • If your dog bites someone while you are out for a walk.
  • If a guest is severely injured on your property and sues for medical costs.
  • If your child accidentally damages another person’s property while playing ball.
  • If you are accused of libel or slander because of something you posted on social media.

Because of the increased liability risks, if you have a swimming pool or own a dangerous breed of dog, your home insurance company may charge you higher rates for your coverage. Some homeowners in Charlotte wish to have more liability coverage than their home insurance can provide. If this applies to you, your independent agent can help you find an affordable umbrella insurance policy, which can significantly boost your liability coverage. 

Second Home and Vacation Home Insurance

Perhaps you own a vacation house along the coast. Or maybe you have a second home that you rent out to students at the University of North Carolina. Regardless, if you are insuring a property that is not your primary residence, the costs to cover it may be a bit higher. This is because insurance companies will be taking additional risk factors into consideration. 

Second homes that are occupied by tenants have higher liability risks and need to be covered by landlord insurance. Vacation homes that are frequently left unoccupied for long periods have higher risks of property damage and may need to be covered by vacant home insurance when they are not in use. A local independent agent can identify the various coverage needs associated with all of your properties. These agents can then help you find the best and most affordable insurance policies to cover them.

Why Work with an Independent Insurance Agent?

When you are looking for the best insurance for your house in Charlotte, local independent agents can help. These agents make comparison shopping easy. Find an agent near you for answers to your insurance-related questions, advice, and help with all of your insurance coverage needs. 

Contact an agent in Charlotte to get started.

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