Fayetteville, NC Homeowners Insurance

Experts break down Fayetteville home insurance costs, coverages, companies, and more.

Written by Meg Stefanac
Written by Meg Stefanac

Financial blogger and business owner, Meg Stefanac, has more than 15 years experience working in the financial services industry and enjoys helping individuals make solid financial decisions. Meg has extensive experience writing about insurance and finances and is a key contributor to TrustedChoice.com.

Reviewer: Jeffrey Green Reviewed by Jeffrey Green
Reviewer: Jeffrey Green
Reviewed by Jeffrey Green

Jeff Green has held a variety of sales and management roles at life insurance companies, Wall street firms, and distribution organizations over his 40-year career.  He was previously Finra 7,24,66 registered and held life insurance licenses in multiple states. He is a graduate of Stony Brook University.

New Home construction. Find Fayetteville North Carolina homeowners insurance.

Fayetteville, NC is home to more than 200,000 people. With its many diverse neighborhoods, it is easy to find a house that is perfect for you and your family in this coastal plain city. Once you have purchased a house, you can protect the investment you have made in it with a good homeowners insurance policy.

Independent agents in Fayetteville are not tied to just one insurance provider. This means they can help you compare a variety of policies and customized quotes so you can find the best and most affordable policy. Contact an independent insurance agent near you to learn more.

Is Homeowners Insurance Required in Fayetteville, NC?

Homeowners insurance is not required by law, but it is required by lenders if you have a mortgage or have taken out a home equity loan or line of credit. Once your loans are paid off, this coverage is optional.

Whether or not you are required to have it, homeowners insurance is an extremely good idea. If you own your house outright and it is destroyed in a disaster like a fire, you will lose all the money you have invested in it unless you have a home insurance policy.

How Much Does Homeowners Insurance Cost in Fayetteville, NC?

Overall, homeowners insurance rates in North Carolina are lower than the national average. In Fayetteville, rates tend to be even lower. This is great news for Fayetteville homeowners who are looking for an affordable policy.

  • National average yearly premium: $1,211
  • North Carolina average yearly premium: $1,086
  • Fayetteville average yearly premium: $899

Your actual quoted costs will be based on several factors such as:

  • Your home’s age, value, and size
  • The type of home you are insuring (e.g., single-family detached house, condotownhousemobile home, etc.)
  • The crime rate and weather risks in your ZIP code
  • Your claims history and credit score

You can typically earn lower insurance rates if you bundle your homeowners' insurance with another policy like car insurance or life insurance.

Why Compare Homeowners Insurance Quotes before Purchasing a Policy?

Every insurance company has its own way of calculating costs. This means that every company you contact is likely to offer you coverage at a different rate.

Comparing customized quotes from a few different homeowners insurance providers lets you be sure you are choosing the policy that is offered at the most competitive price.

Independent insurance agents in Fayetteville make comparison shopping easy.

What Does Fayetteville Homeowners Insurance Cover?

Your homeowners' insurance covers your property and your finances by providing three types of very important coverage:

  • Coverage for your property
  • Coverage against displacement
  • Coverage against liability lawsuits

Read on to learn more about each of these coverage types.

How Fayetteville Homeowners Insurance Covers Your Property

Homeowners insurance can cover the cost to rebuild, repair, or replace your property if it is damaged or lost due to a covered event. Some of the covered risks most likely to be experienced by homeowners in Fayetteville include:

  • Fire, including damage caused by flames, smoke, and firefighting efforts
  • Property crimes, such as burglary and vandalism
  • Severe weather like thunderstorms, tornadoes, high winds, and hail

Your homeowners' insurance policy provides two main types of property coverage. Dwelling insurance covers the structure of your home and contents insurance covers your personal property.

You will want to be sure that your coverage limits in both categories are high enough to enable you to rebuild a house of comparable size and fully replace all of your property if you experience a total loss, such as may happen if your house burns down or is leveled by a tornado.

How Fayetteville Homeowners Insurance Covers against Displacement

Fayetteville has a high risk of tornado activity and the city experiences an average of two tornadoes a year. If serious damage from a covered disaster like a tornado or a structure fire leaves your home unsafe for habitation, loss of use insurance can help.

Loss of use insurance is a standard part of your home insurance. It is designed to pay for your temporary living expenses while your house is being repaired. It can pay for things like:

  • Hotels or other reasonable accommodations
  • Meals, if your accommodations do not include a kitchen
  • Moving and storage fees
  • Mileage reimbursement if you must drive further to get to work
  • Pet boarding, if needed

Your coverage can continue until your house has been repaired and is safe to return to or until you have built or purchased a new home.

How Fayetteville Homeowners Insurance Covers against Liability Lawsuits

Accidents, negligence, and errors in judgment can sometimes cause serious harm to others. This can lead to expensive lawsuits. Fortunately, homeowners insurance companies provide policyholders with a significant amount of personal liability coverage as a standard part of their coverage.

Homeowners liability insurance is designed to cover expenses like court costs, legal defense fees, mediation costs, settlements, and judgments if you or someone in your household is unintentionally responsible for injuries, financial losses, property damage, or other harm to others.

Homeowners insurance companies typically offer between $100,000 and $500,000 in personal liability coverage.

If you want to have even more liability coverage than your homeowners' insurance policy can provide, you may want to also purchase an umbrella insurance policy. This is an affordable way to boost all of your personal liability coverage.

What Is Not Covered by Fayetteville Homeowners Insurance?

It is important to be aware that flood damage is not covered by homeowners insurance. This is true even if the flooding is the direct result of a covered storm.

FEMA warns that just one inch of rainwater in your home can cause as much as $25,000 in property damage. And in Fayetteville, more than 6,600 properties have a greater than 26% chance of sustaining significant flood damage over the next 30 years. That is around 9% of all the homes and businesses in this city.

If your property is at risk, an independent agent can help you supplement your home insurance with an affordable flood insurance policy through the National Flood Insurance Program (NFIP).

This program, which is administered by FEMA, provides homeowners with guaranteed flood insurance policies. You can protect your property by purchasing up to $250,000 in dwelling coverage and up to $100,000 in contents coverage.

What Is the Burglary Rate in Fayetteville, NC?

The burglary rate in the state of North Carolina is significantly higher than the national rate, and in Fayetteville, the risk is even greater. Residents of this city report more than 1,300 burglaries a year.

  • Number of burglaries per 1,000 homes in the US: 3.76
  • Number of burglaries per 1,000 homes in North Carolina: 6.00
  • Number of burglaries per 1,000 homes in Fayetteville: 6.51

You can reduce your risk of being targeted for burglary by keeping your doors and windows securely locked when you are away from home, ensuring that all entryways are well-lit and unobstructed, and even by getting a guard dog.

Home security systems are the most effective theft deterrent. That is why many insurance companies offer discounts to policyholders who have burglar alarms installed in their homes.

Of course, nothing is 100% foolproof against a determined burglar, so if you are the victim of a robbery, you may gain some peace of mind from knowing that your homeowners' insurance can compensate you for your losses. You will need a copy of the police report when you file your claim.

What Are the Best Homeowners Insurance Companies in Fayetteville, NC?

Good home insurance companies consistently provide excellent customer service, reliable coverage, and competitive rates.

Independent insurance agents in Fayetteville have teamed up with some of the best homeowners insurance companies in North Carolina. This means that you can rest assured that any policies these agents recommend to you are offered by trustworthy insurers.

How Can an Independent Agent Help Me Find the Best Home Insurance in Fayetteville?

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, for advice you can trust, and for help finding the best and most affordable policies.

Arrange an obligation-free consultation with an independent insurance agent near you to learn more. You will soon discover how easy it can be to compare customized homeowners insurance quotes from some of the best insurance providers in Fayetteville, NC.

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