Winston-Salem Homeowners Insurance

Your Complete Guide to Winston-Salem, NC Homeowners Insurance

Find the right homeowners insurance policy for you.

The growing city of Winston-Salem is home to nearly 245,000 people. With its many museums, parks, and shopping options, this cultural city has much to offer its residents. If you are among the proud homeowners in Winston-Salem, you will want to be certain that your house is insured by a reliable and comprehensive home insurance policy. Independent Insurance Agents can help you obtain the best and most affordable insurance coverage for your Winston-Salem home. Find an agent near you to start comparing customized homeowners insurance quotes.

Cost of Homeowners Insurance in Winston-Salem, 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 Winston-Salem, it is much lower.

  • National average yearly premium: $1,173
  • North Carolina average yearly premium: $1,075
  • Winston-Salem average yearly premium: $680

Of course, you can expect your actual home insurance quotes to be different from the average Winston-Salem rate shown above. This is because insurance costs are calculated individually according to several factors, which may include:

  • The size, age, and value of your house
  • The materials used in your home’s construction
  • Your claims history and credit score
  • 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 enables you to choose the home insurance policy that offers the best value for your money. Independent insurance agents in Winston-Salem make comparison shopping easy.

Burglary Rate in Winston-Salem

The burglary rate in North Carolina is higher than the national rate, and in Winston-Salem, the risk is even higher. This city averages about 4,000 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 Winston-Salem: 15.64

If your house is broken into, your home insurance can reimburse you for your losses as well as for any damage the burglar may have caused. Your independent insurance agent can help you be sure that your most valuable possessions are properly insured. Sometimes, this involves purchasing special endorsements or riders to cover things like collections or fine art. Of course, you will want to avoid the burglary in the first place. Taking precautions can reduce your chances of being targeted by a burglar. Home security systems are among the most effective theft deterrents. That is why many insurance companies offer discounts to policyholders who have burglar alarms.

Catastrophic Events in North Carolina

Your homeowners insurance policy is designed to cover you against most of the hazards you are likely to face as a resident of Winston-Salem. This includes everything from out-of-control cooking fires to weather events like heavy winds, severe storms, and hail.

  • 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.

Hurricanes pose the most significant risk in this city. Although most home insurance policies cover against hurricane damage, they do no cover floods, even when they are the direct result of a hurricane. Your independent insurance agent can help you fill this coverage gap with an affordable flood insurance policy through the NFIP. Another threat to area residents is tornadoes. Historically, two F3 twisters have wreaked havoc in this city, one in 1985 and the other in 1989. These tornadoes caused several millions of dollars’ worth of damage to area homes. Your insurance agent can ensure that your policy covers you against these expensive risks.

Liability Insurance for Winston-Salem Homeowners

Without proper insurance protection, a liability lawsuit could potentially lead to a large financial loss, and this could cause you to lose your home. That is why your homeowners insurance also provides you with liability coverage. This personal liability insurance is designed 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 be of use include:

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

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

Second Home and Vacation Home Insurance

Some Winston-Salem residents own additional houses. Maybe you have a vacation home in Myrtle Beach, or perhaps you rent out a house to students at Wake Forest University. Regardless, if you own more than one house, you will need to cover all of your properties with appropriate home insurance policies. A house that does not serve as your primary residence will often have additional risk factors and may therefore need specialized home insurance coverage. 

  • Vacation homes that are left empty 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 during the times they are not in use. 
  • Second homes that are occupied by tenants have lower contents coverage needs, but higher liability risks. If you are renting out your additional home, the property will need to be covered by landlord insurance.

A local independent insurance 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 the best homeowners insurance policy is by working with 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 as well as reliable coverage at a competitive rate.

Contact an independent insurance agent with an office in or near Winston-Salem to start comparing customized, competitively priced home insurance quotes.

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