More than 111,000 people live in the growing city of High Point. It is well known for its furniture manufacturing, is home to three universities, a variety of galleries and museums, and, of course, the world’s largest chest of drawers. If you are among the proud homeowners in this North Carolina city, you will want to be sure you have a reliable homeowners insurance policy. When you are shopping for insurance for your High Point home, an independent insurance agent can help you find the best and most affordable coverage. Contact an agent with an office near you to start comparing quotes.
How Much Does Homeowners Insurance Cost in High Point?
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 High Point, where severe weather events are not very common and there is an abundance of affordable housing, rates 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: $982
- High Point yearly premium average: $660
Insurance companies calculate rates according to several factors such as the age, size, and value of your home, the crime rate and weather risks in your ZIP code, and, often, even your credit score. In many cases, if you bundle your home insurance with other coverage like car insurance or life insurance, you can get all of your policies at reduced rates. An independent agent in High Point can help you find comprehensive home insurance at the most competitive price.
Burglary Rate in High Point, NC
The burglary rate in North Carolina is higher than the national average, and in High Point, the rate is even higher. There are about 800 burglaries 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 High Point: 9.19
If your house is broken into, you should first make sure that you and your family are safe, and then notify the authorities. You will need a copy of the police report and a detailed list of your lost or damaged property when you file an insurance claim. There are a few preventive measures you can take to lower your risk of a robbery, such as keeping a radio on when you are not home, using motion-sensitive outdoor lights, and keeping doors and windows locked. Home security systems are among the most highly effective theft deterrents. That is why insurance companies frequently offer discounts to policyholders who have installed burglar alarms in their houses.
Catastrophic Events in North Carolina
Your homeowners insurance is designed to cover you against many of the hazards you are likely to face as a property owner in High Point.
- 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 home insurance property coverage 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 that you have enough coverage in each category to enable you to rebuild, repair, and replace following a catastrophic event like a fire or hurricane.
Some High Point residents—particularly those in close proximity to Deep River, Boulding Branch, and other area waterways—are at risk for damage caused by flash flooding. However, home insurance policies exclude flood damage from their coverage. Fortunately, you can get supplemental flood insurance policy through the NFIP. Your local independent agent can help you review quotes for this coverage.
Liability Coverage for High Point Homeowners
In addition to property coverage, homeowners insurance also provides policyholders with personal liability insurance. This coverage absorbs the costs associated with most of the liability lawsuits you are likely to face as a property owner in High Point.
Examples of times your homeowners liability insurance may be of use include:
- If your dog gets loose and bites a jogger.
- If a guest in your home is severely injured and sues for medical costs.
- If your child damages a neighbor’s property while playing ball.
- If you are accused of libel or slander because of something you posted on social media.
Some homeowners in High Point want to have higher liability limits than their home insurance can provide. If you are among them, your independent agent can help you find an affordable umbrella insurance policy, which can significantly increase your overall liability coverage.
Second Home and Vacation Home Insurance
Perhaps you own a vacation property in Nags Head. Or maybe you have a second home that you rent out to students at High Point University. Regardless, when you are insuring a property that is not your primary residence, insurance companies will be taking additional risk factors into consideration. Second homes that are occupied by tenants have higher liability risks but lower contents coverage needs. These properties need to be covered by landlord insurance.
Vacation homes that are left unoccupied for long periods have a higher risk of property damage. These houses may need to be covered by vacant home insurance when they are not in use. A local independent insurance agent can identify the various coverage needs associated with all of your properties and can 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 High Point home, local independent agents can help. These agents make comparison shopping easy by doing the legwork for you. Find an agent near you to get answers to your insurance-related questions, trustworthy advice, and help with all of your insurance coverage needs.
Contact an insurance agent in High Point, North Carolina to get started.