Your Guide to Raleigh, NC Homeowners Insurance | Trusted Choice

Raleigh Homeowners Insurance

Your Complete Guide to Raleigh, NC Homeowners Insurance

Find the right homeowners insurance policy for you.

Meg Stefanac | March 1, 2020

North Carolina’s state capital, Raleigh, is home to more than 464,000 people. The many oak trees that line the streets of this beautiful southern city have earned Raleigh the moniker, The City of Oaks. If you are among Raleigh’s proud homeowners, you will want to be sure to protect your investment with a reliable and all-inclusive home insurance policy. Independent insurance agents can help you find the best and most affordable insurance coverage for your house in Raleigh. Find an agent near you to learn more, and you can soon start comparing customized homeowners insurance quotes.

Cost of Homeowners Insurance in Raleigh, NC

North Carolina is the 26th most expensive state for home insurance in the US. The average home insurance cost in this state is slightly lower than the national rate; but in Raleigh, the average rate is higher. When you shop around for coverage, however, you can find a great policy at an affordable price.

  • National average yearly premium: $1,173
  • North Carolina average yearly premium: $1,075
  • Raleigh average yearly premium: $1,234

The quotes you get from insurance companies are likely to differ from the average rate shown above. This is because costs are calculated individually based on a number of considerations. In a city like Raleigh, with its wide range of property values, rates can vary significantly. Your home insurance costs can be influenced by factors such as: 

  • The size, age, construction, and value of your house 
  • Whether the property you are insuring is your primary residence
  • The number of stories in your house and whether or not you have a basement
  • The crime rate and weather risks in your ZIP code
  • Your claims history and credit score
  • Whether you are bundling your coverage with another policy like car insurance or life insurance

Each insurance company has its own proprietary method for calculating rates. Comparing quotes enables you to choose the homeowners policy that offers the best value for your coverage. Independent agents in Raleigh make comparison shopping easy.

Burglary Rate in Raleigh

The burglary rate in North Carolina is much higher than the national average; and in Raleigh, the rate is even higher. Residents of this city report more than 3,000 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 Raleigh: 7.36

Your home insurance can reimburse you for loss or damage following a burglary. Of course, it is better to take precautionary steps to lower your risk of being targeted. The most effective theft deterrent is a burglar alarm. Most insurance companies offer discounts to policy holders who have installed home security systems. Learn about this and other potential discounts by talking to your independent insurance agent.

Catastrophic Events in North Carolina

Your homeowners insurance policy is designed to cover you against many of the hazards you are likely to face as a property owner in Raleigh. This includes everything from electrical fires to severe weather events. 

  • 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.

Residents of Raleigh are most at risk for damage caused by hurricanes and severe storms. While hurricane damage in this city may not be as bad as it is along the coast, it can still be significant. Also, severe storms can spawn tornadoes like the F4 twister that touched down less than seven miles from the Raleigh city center in 1988. This tornado caused more than $50 million worth of property damage. Bear in mind that although your policy may cover hurricane damage, it will not cover the flooding that often accompanies these storms. Fortunately, your local independent agent can also help you get flood insurance coverage.

Liability Insurance for Raleigh Homeowners

Your home insurance also includes liability coverage. This personal liability insurance is designed to cover the various expenses (e.g., court costs, legal fees, and damages) that you may accrue if you are sued for a covered event. Some examples of situations in which your homeowners liability coverage can protect you include:

  • A visitor in your home trips on loose carpeting on the stairs and is seriously injured.
  • Your child kicks a football through a neighbor’s window.
  • Your dog bites a passerby who is severely injured and requires stitches.
  • You are accused of libel or slander because of something you wrote in your blog.

An independent agent can explain your homeowners liability insurance in greater detail. If you wish to have even more liability coverage than your home insurance coverage will allow, your agent can also help you acquire a competitively priced umbrella insurance policy.

Second Home and Vacation Home Insurance

Maybe you own a vacation home in Nags Head. Or perhaps you own a second house that you rent to students at North Carolina State University. Whatever the reason, if you own more than one house, you will need to cover all of your properties with appropriate home insurance. A house that is not your primary residence will often have additional inherent risks. Insurance companies will take these and other factors into consideration when calculating rates for your extra properties. 

  • Vacation homes that are left unoccupied for several months out of the year have an increased risk of property damage. In this case, vacant home insurance may be needed. 
  • Vacation homes that are located in areas that have a high risk of floods or earthquakes may need to have supplementary flood insurance or earthquake insurance since these hazards are not covered by home insurance.
  • 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.

Your local independent agent can help you review the coverage needs of any additional properties you may own, and can assist you with finding the best and most reasonably priced insurance to cover them.

Why Work with an Independent Insurance Agent?

The easiest way to find reliable homeowners insurance at a great price is by working with an independent insurance agent. These agents work for you, not for a specific insurance company, so you can be sure that you are getting trustworthy advice as well as the coverage you need at a reasonable cost.

Independent agents in Raleigh are ready to help. Contact an agent near you, and you can start comparing customized home insurance quotes in no time.

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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