Living in the Tar Heel state is a wonderful thing, but it
does mean that some things like home insurance can be more
expensive. That’s why Insurance-Rates-Online.com is
going to show you the best way to shop for North
insurance, including types of coverage, what affects
premiums and what makes North Carolina unique. Finally
you’ll enter your zip code in the box below to find the
top North Carolina home insurance companies for
competitive quotes so you can get the best coverage at the
best rate possible.
Covered by North Carolina Home Insurance
Homeowners insurance in North Carolina is a multi-peril
policy, which means it combines coverage for both property and
casualty in one policy. Basically there are up to six
parts to each home insurance policy:
- Dwelling and attached structures. Must be at least 80%
of the replacement cost value.
- Other Structures, like detached garages and tool sheds;
usually 10% of dwelling amount.
- Personal property, includes contents and personal
belongings; usually 50% of the dwelling amount. There are
limits on certain types of property, like jewelry and
- Loss of Use, provides funds to pay expenses when you
can’t live in your home during covered repairs; usually 20%
of dwelling amount.
- Personal liability pays expenses if you or a family
member is legally responsible for injury to others or
property belonging to others, including legal expenses.
Usually limited to $100,000.
- Medical payments pays medical bills if someone is
injured on your property or by someone living in your home,
usually limited to $1,000.
of North Carolina Home Insurance Policies
There are several choices of home insurance policies
available to North Carolina homeowners. Choosing a policy with
full coverage will cost more than selecting a policy with a
lower level of coverage. Only you can decide what level of
coverage is sufficient to meet your needs and fit your
- Homeowners Broad Form covers
homes against specific perils, or events that cause damage
to property. This coverage protects against things like
fire, theft, vandalism, windstorm, explosions, etc.
- Homeowners Special Form offers
coverage against anything except whatever is specifically
excluded by name in the policy. The coverage is much more
extensive, which is great, but the price is definitely
- Homeowners Comprehensive Form was
designed for single family dwelling or townhouse. It has an
open perils basis.
- Homeowners Unit-Owners Form is
appropriate for condos and personal property in
- Homeowners Modified Coverage
Form protects older homes where the actual
cash value (the replacement cost less depreciation) would
cost more to replace the home than the market value.
Affecting North Carolina Home Insurance
Several factors are involved in determining what the price
will be of each home insurance policy in North Carolina.
Knowing what those factors are can help you save money on your
- Type of construction – brick
homes are less expensive to insure than frame homes because
brick is more resistant to many types of perils.
- Age of the dwelling – newer homes
are less expensive to insure because all of the systems,
like electrical, plumbing, and heating, are new and up to
- Location – if you live in a high
crime area, or an area prone to natural occurances like
windstorms or earthquakes, your rates will be higher. For
example home insurance is more expensive in Wilmington and
Fayetteville than in Asheville or Greensboro.
- Fire protection – how far do you
live from a fire station? Is a fire hydrant near your home?
How good is your fire department? All these items are
factors in your rates.
- Past history – insurance
companies can see what your claim history was at other
times when you were covered by home insurance. If you have
a history of filing lots of claims, your rates will be
higher because the new company expects you to do the same
For plenty of ideas on how to save money on home
insurance, visit Home Insurance Shopping Tips.
Factors in North Carolina Home insurance
Though North Carolina is a beautiful place to live, its
terrain presents several problems for home insurance companies
that affects the coverage offered to homeowners.
For example, because of high risk, coverage against
windstorm or hail damage may be excluded for homes along the
coast. Some homes run the risk of mine subsidence because of
mines that exist in the earth beneath them.
Normal homeowners insurance policies do not include coverage
for things like water backup or sump overflow, but this
coverage can be added to your policy for an additional
Flood insurance is only available through the National Flood Insurance Program, which is
a federal program. Visit Floodsmart.gov for specific
information based on your home’s location.
Best Way to Save on North Carolina Home
Like most things in life, the best way to keep the cost of
your home insurance policy under control is to comparison shop.
Insurance companies base premiums on their past experience in
your specific neighborhood, so companies with good experiences
have low rates, and others with bad experiences have high
The only way to know for sure is to request free quotes from
several companies. Fortunately finding great North Carolina
home insurance companies is easy. Just enter your zip code in
the box below and you’ll be instantly matched with several top
companies offering coverage in your area. Choose at least four
and request a free quote. Before you know it, you’ll have a
great home insurance policy at a price that still leaves some
money in your wallet. Don’t wait another minute – enter
your zip code now!