Wilmington Homeowners Insurance

Your Complete Guide to Wilmington, NC Homeowners Insurance

Find the right homeowners insurance policy for you.

The county seat of North Carolina’s New Hanover County, Wilmington is home to nearly 120,000 people. Residents are attracted to this historic city because of its booming economy, abundance of cultural and recreational facilities, and proximity to beautiful beaches. If you own a house in this rapidly growing port city, you will want to be sure to protect your investment with a solid homeowners insurance policy. Independent Insurance Agents in Wilmington can help you find reliable, competitively priced coverage. Contact an insurance agent near you to learn more.

How Much Does Homeowners Insurance Cost in Wilmington?

  • National yearly premium average: $1,173
  • North Carolina yearly premium average: $1,075
  • Wilmington yearly premium average: $1,909

North Carolina is the 26th most expensive state for home insurance. Average home insurance rates in this state are lower than the national average. However, costs are much higher in Wilmington. This is largely due to high property values and the increased risk of hurricane damage for houses along the Eastern Seaboard. 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 your house is outfitted with shutters and other hurricane protection
  • Whether the property is your primary residence or a second home
  • The crime rate and common weather hazards in your ZIP code 
  • Your claims history and credit score
  • The amount of your deductible

If you bundle your home insurance with other coverage such as car insurance or life insurance, you can often get all of your policies at discounted rates. An independent agent in Wilmington can help you find the right policy to meet your coverage and budgetary needs.

Burglary Rate in Wilmington, NC

The burglary rate in North Carolina is higher than the national average, and in Wilmington, it's even higher. Residents of this city report about 3,500 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 Wilmington: 13.43

Because of the high property crime rate in Wilmington, you may want to consider having a home security system installed in your house. Of the many precautionary measures you can take to lower your risk of a burglary, these burglar alarm systems are the most effective. That is why many insurance companies offer discounts to homeowners who have them. In the event that your house is broken into, you may take some comfort in knowing that your homeowners insurance policy can provide compensation for you for your losses. Your independent agent can help you review your contents coverage to ensure that your most valuable belongings are sufficiently covered. 

Catastrophic Events in North Carolina

Homeowners insurance is designed to cover loss or damage to the structure of your house as well as to the personal property you keep inside it. You will want to be sure that your coverage limits are high enough to allow you to rebuild, repair, or replace damaged items if your house is impacted 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.

Although most home insurance policies cover hurricane damage, these policies do not cover the flood damage that tends to accompany these storms. Residents near Bradley Creek and other area waterways are most at risk for flooding, but during extreme downpours, flash flooding can happen just about anywhere in this city. Be sure to discuss your flood risk with an independent agent. Your agent can help you secure a supplementary flood insurance policy through the National Flood Insurance Program, or NFIP.

Liability Coverage for Wilmington Homeowners

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

  • If negligence in upkeep to your home results in a visitor being seriously injured while on your property.
  • If your dog gets loose and bites someone.
  • If your child accidentally damages another person’s property while playing ball.
  • If you are sued for libel or slander because of something you posted online.

If you wish to have more liability coverage than your home insurance company can provide, umbrella insurance is an affordable way to significantly boost your coverage limits. That way, you can better protect your personal assets.

Second Home and Vacation Home Insurance

If you are among the Wilmington citizens who owns a house that is not your primary residence, this extra property is likely to have additional risk factors that insurance companies will take into consideration. This may result in slightly higher rates for coverage. A second home that is rented out to tenants, such as to students at UNC, will have higher liability risks but lower contents coverage needs. 

Such a house would 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. An independent agent can help you review the coverage needs of your secondary properties and can help you find the best home insurance coverage for all of your houses.

Why Work with an Independent Insurance Agent?

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

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

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