Your Guide to Greensboro, NC Homeowners Insurance | Trusted Choice

Greensboro Homeowners Insurance

Your Complete Guide to Greensboro, NC Homeowners Insurance

Find the right homeowners insurance policy for you.

Meg Stefanac | March 1, 2020

Greensboro is the third most populous city in North Carolina. Residents are attracted to this city because of its plentiful housing options, easy access to major interstate highways, and large number of recreational facilities. If you are among the many homeowners in Greensboro, you will want to be certain that your house is protected by a reliable and responsive home insurance policy. Independent Insurance Agents can help you obtain the best and most affordable insurance coverage for your Greensboro home. Find an agent near you to start comparing customized homeowners insurance quotes.

Cost of Homeowners Insurance in Greensboro, NC

North Carolina is the 26th most expensive state for home insurance in the US. The average cost in this state is lower than the national average, and in Greensboro, where there is an abundance of affordable housing, it's even lower.

  • National average yearly premium: $1,173
  • North Carolina average yearly premium: $1,075
  • Greensboro average yearly premium: $681

You can expect your actual home insurance quotes to be different from the average Greensboro rate above. This is because insurance costs are calculated individually according to a number of factors, which may include:

  • The type of home you are insuring (e.g.,single-family detached home, multi-family home, mobile home, townhome, etc.)
  • Whether the house you are insuring is your primary residence
  • The size, age, and value of your house and the materials used in its construction
  • Your claims history and credit score
  • The amount of your deductible
  • The crime rate and weather risks in your ZIP code
  • 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 rates, so comparing a variety of quotes lets you choose the home insurance policy that is offered at the best price. Independent agents in Greensboro make comparison shopping easy.

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Burglary Rate in Greensboro

The burglary rate in North Carolina is higher than the national rate, and in Greensboro, the risk is even higher. Residents of this city report approximately 2,500 burglaries 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 Greensboro: 23.69

If your house is burglarized, your home insurance can reimburse you for your losses as well as for any damage the burglar may have caused. Your independent agent can help you be certain that your most valuable possessions are properly insured. Sometimes, you will need to purchase special endorsements or riders to cover things like collections or family heirlooms. Of course, the ideal scenario is to avoid the burglary in the first place. 

Taking precautionary steps like using motion sensor lighting, keeping a radio on while away, and keeping entryways well-lit and unobstructed can lower the chances that your house will be targeted by a burglar. Home security systems are among the best theft deterrents. That is why many insurance companies offer discounts to policyholders who have burglar alarms installed in their houses.

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 homeowners insurance policy is designed to cover you against most of the hazards you are likely to face as a resident of Greensboro. This includes everything from out-of-control kitchen fires to inclement weather events like hurricanes. Although your home insurance may cover hurricane damage, it does not cover flood damage—even if the flood is the direct result of a hurricane.  A local independent agent can ensure that you are covered against this risk by helping you secure a flood insurance policy through the National Flood Insurance Program (NFIP).

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Liability Insurance for Greensboro Homeowners

Without insurance protection, a liability lawsuit could potentially lead to a large financial loss that results in you losing your home. That is why your homeowners insurance also provides liability coverage. This is intended to cover court costs, legal defense fees, and damages if you are sued for a covered event. Some examples of times your homeowners liability coverage may help you include:

  • If a guest in your home is seriously injured in an accident that can be attributed to negligence on your part.
  • If your child or pet causes injuries or property damage to a neighbor.
  • If someone accuses you of libel or slander due to something you posted online.

If you wish to have more liability coverage than your home insurance policy will allow, you can supplement your coverage with an umbrella insurance policy. Your independent agent can help you find the liability coverage you want at a price you can afford.

Second Home and Vacation Home Insurance

Some Greensboro residents own additional houses. Maybe you have a vacation home along the coast, or perhaps you rent out a house to students at the University of North Carolina. Regardless, if you own more than one home, you will need to cover all of your properties with appropriate home insurance policies. A house that does not serve as your primary residence has additional risk factors and may, therefore, need specialized home insurance coverage. 

  • Second homes that are occupied by tenants have higher liability risks. If you are leasing out a house, the property will need to be covered by landlord insurance.
  • Vacation homes that are left uninhabited and unattended for several months out of the year have an increased risk of property damage. These houses may need to be covered by vacant home insurance

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

Why Work with an Independent Insurance Agent?

The easiest way to find a suitable and reasonably-priced homeowners insurance policy is by contacting a local independent agent. These agents work for you, not for a particular insurance company, so you can be sure that you are receiving trustworthy guidance and that you are getting the coverage you need at a competitive rate.

Independent agents in Greensboro are ready to help. Contact an agent near you to start comparing customized, competitively priced home insurance quotes.

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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