Your Guide to Fayetteville, NC Homeowners Insurance | Trusted Choice

Fayetteville Homeowners Insurance

Your Complete Guide to Fayetteville, NC Homeowners Insurance

Find the right homeowners insurance policy for you.

Meg Stefanac | March 1, 2020

The county seat of North Carolina’s Cumberland County, Fayetteville is home to nearly 210,000 people. Residents are attracted to this city because of its affordable housing, parks and recreation, and a strong sense of community. If you own a house in this growing city, you will want to be sure to protect your investment with a solid homeowners insurance policy. When you are shopping for insurance for your Fayetteville home, an independent agent can help you find a reliable, competitively priced policy. Find an agent near you to learn more.

How Much Does Homeowners Insurance Cost in Fayetteville?

  • National yearly premium average: $1,173
  • North Carolina yearly premium average: $982
  • Fayetteville yearly premium average: $899

North Carolina is the 26th most expensive state for home insurance. In Fayetteville, home insurance rates are lower than the state average. Of course, your quoted costs may vary from the figures shown above because rates are calculated individually according to several factors such as:

  • The age, size, value, and other details about your house
  • Whether the property is your primary residence or a second home
  • The type of home you are insuring (e.g., detached single-family house, townhouse or condo, mobile home, etc.)
  • The crime rate and weather hazards common in your ZIP code 
  • Your claims history and credit score
  • The amount of your deductible

If you bundle your home insurance with other coverage like car insurance or life insurance, you can frequently get all of your policies at discounted rates. An independent agent in Fayetteville can help you find the best policy to meet your coverage and budgetary needs.

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Burglary Rate in Fayetteville, NC

The burglary rate in North Carolina is lower than the national average, but in Fayetteville, the rate is extremely high. Residents of this city report about 4,000 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 Fayetteville: 24.65

Because of the high property crime rate in Fayetteville, you may want to consider installing a home security system. Of the many precautions you can take to lower your risk of a burglary, these alarm systems are the most effective. That is why many insurance companies offer discounts to homeowners who have burglar alarms. In the event that your home is broken into, you may take some comfort in knowing that your homeowners insurance policy can compensate you for your losses after you have covered your deductible. Your independent agent can help you review your contents coverage to ensure that your most valuable belongings are properly covered. 

Catastrophic Events in Fayetteville

Homeowners insurance is designed to cover loss or damage to the structure of your house as well as the personal property inside it. You will want to be sure that your coverage limits are high enough to allow you to rebuild, repair, or replace if your house is badly damaged by a catastrophic event like a structure fire or hurricane.

  • Number of declared disasters in North Carolina: 58
  • Most common reasons for disasters in the state: Hurricanes, Tropical Storms 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.

Homeowners insurance is designed to cover you against many of the hazards you are likely to face as a property owner in Fayetteville.  In this city, the biggest risk is from hurricanes. Although most home insurance policies cover hurricane damage, none cover the flood damage that tends to accompany these storms. Parts of Fayetteville are in a designated flood zone, but in extreme conditions, flooding can occur outside this zone. Fortunately, your independent agent can also help you secure a supplementary flood insurance policy through the NFIP.

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Liability Coverage for Fayetteville Homeowners

In addition to property insurance, your homeowners policy provides you with personal liability coverage. This insurance is designed to cover the expenses—such as court costs, legal fees, and damages—if you are sued for a covered event. Some examples of times your homeowners liability insurance can protect you include:

  • If a guest in your home is severely injured due to an accident caused by negligence of upkeep.
  • If your dog gets loose and bites a neighbor.
  • If your child causes damage to another person’s home while playing ball.
  • If you are sued for libel or slander because of something you posted online.

Some home insurance companies will charge you more for coverage if you have a swimming pool on your property or you own a dangerous breed of dog because of the increased liability risks. If you want to have more liability coverage than your home insurance company can provide, umbrella insurance is an affordable way to significantly boost your coverage. That way, you can better protect your assets.

Second Home and Vacation Home Insurance

Houses that do not serve as primary residences have additional risk factors that insurance companies will take into consideration. Often, this results in increased rates for coverage. If you are among the Fayetteville residents who own a second home or a vacation home, your independent agent can help you find the right coverage for each of your properties. A second home that is rented out to tenants, like students at Fayetteville State University, will have higher liability risks and will, therefore, need to be covered by landlord insurance. A vacation home that is frequently left unoccupied has higher property damage risks and may need to be covered by vacant home insurance.

Why Work with an Independent Insurance Agent?

Independent agents are available to assist you with all of your insurance coverage needs. You can turn to a local agent for answers to your insurance-related questions, trustworthy advice, and help in finding the best and most affordable policies.

Contact an agent with an office in or near Fayetteville to learn more. You will soon discover how easy it can be to compare quotes for customized, competitively priced homeowners insurance.

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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