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In Raleigh, homeowners pay an average annual rate of $2,616 for a coverage level that includes $300,000 for dwelling, $100,000 for liability protection, and a $1,000 deductible, according to Insure.com’s rate analysis. This is $112 more than the national average of $2,504.
Homeowners insurance premiums can vary significantly from one property to another. In Raleigh, the cost of home insurance is influenced by several factors, including:
- Size of your home
- Age of your home
- Amount of coverage required
- Location
- Your credit score
It’s crucial to compare quotes from multiple insurers to ensure you get the best homeowners insurance policy. This allows you to find the coverage that meets your specific needs.
Read this guide to discover the monthly homeowners insurance cost in Raleigh, explore the insurance costs for different dwelling coverage, and find out which companies offer affordable home insurance in Raleigh.
Key Takeaways
- Homeowners insurance costs $2,616 per year in Raleigh.
- At $694 per year, State Farm offers the cheapest homeowners insurance in Raleigh.
- Your home insurance rates increase by $915 more annually if you increase your dwelling coverage from $200,000 to $300,000.
How much is homeowners insurance in Raleigh per month
Residents of Raleigh pay an average of $218 a month for homeowners insurance, as per Insure.com’s rate analysis. It’s $26 less than the state average of $244 and $9 more than the national average for home insurance across the United States.
The cost of your homeowners insurance policy in Raleigh may change based on location, property value, and selected coverage options.
How much is homeowners insurance for a $200,000 house in Raleigh
Homeowners insurance for dwelling coverage of $200,000 and liability protection of $100,000 costs $1,701 per year in Raleigh, NC. Numerous factors influence your annual home insurance rates, including any natural disaster or event in your locality. For instance, certain regions have a higher risk of natural calamities such as floods, hurricanes, or tornadoes, implying higher expenses for rebuilding in these areas. These increased rebuilding expenses result in increased insurance premiums.
It is important to note that your insurance plan may not cover flood or hurricane damages. So, if you reside in an area prone to flooding, consider buying flood insurancecoverage.
How much is homeowners insurance for a $300,000 house in Raleigh
As per rate analysis by Insure.com, homeowners residing in Raleigh typically pay an average of $2,616 annually to insure a home for coverage limits of $300,000 dwelling, $100,000 liability protection with a $1,000 deductible.
Your home insurance rates will be increased by $915 if you increase your dwelling coverage from $200,000 to $300,000. It is advisable to buy enough insurance sufficient insurance to cover the entire cost of rebuilding your home. However, the amount of dwelling coverage you need may vary depending on the size of your home, the features in your home, and the cost of living in your area.
How much is homeowners insurance in Raleigh by company
Among the carriers analyzed, State Farm is the cheapest homeowners insurance company in Raleigh. It’s average annual rate for Raleigh homeowners is $694, while North Carolina Farm Bureau ranks second.
Before choosing a homeowners insurance policy, it is important to do some research on the company. Our experts have analyzed all the insurance companies across Raleigh and prepared a list of the cheapest home insurance providers. You can find below the Raleigh home insurance companies and their average annual premium.
| Home insurance company | Annual rate |
|---|---|
| State Farm | $694 |
| North Carolina Farm Bureau | $1,491 |
| Nationwide | $3,017 |
| Erie Insurance | $3,044 |
| USAA* | $3,069 |
TIP
Bundling your home insurance with other policies, like auto insurance, can lead to significant savings. Insurance companies often offer discounts for customers who combine multiple policies. By bundling, you can reduce your premiums and manage your insurance needs with one company.
Common natural disasters in North Carolina that may affect home insurance
Living in North Carolina comes with its unique challenges, particularly when it comes to the risk of natural disasters. These events can cause significant damage to homes and property, leading to potential insurance claims. Understanding which natural disasters are common in your area can help you make an informed decision when choosing your home insurance policy.
Ice storm and Winter weather are some of the common natural disasters in North Carolina that may affect your home insurance rates.
How home insurance protects you against natural disasters
Home insurance plays a crucial role in protecting your home and belongings in case of natural disasters. Events such as hurricanes, floods, earthquakes and wildfires can cause significant damage, and home insurance helps by covering the costs of repairs or replacement of your property. Depending on your policy, it may also provide coverage for temporary living expenses if your home becomes uninhabitable.
In addition to physical damage, home insurance typically covers liability costs if someone is injured on your property. This added protection gives homeowners peace of mind, knowing they have financial support during difficult times.
A standard home insurance policy may not cover all-natural disasters. Review your policy carefully to ensure you’re covered for the specific risks.
Methodology
Insure.com, with the help of Quadrant Information Services, gathered data for homeowners insurance rates in Raleigh for $300,000 dwelling coverage and $100,000 liability coverage with a $1,000 deductible. The data presented are those with a good credit tier alignment.
How much is home insurance in other cities
Related Articles
- How much is homeowners insurance in Raleigh per month
- How much is homeowners insurance for a $200,000 house in Raleigh
- How much is homeowners insurance for a $300,000 house in Raleigh
- How much is homeowners insurance in Raleigh by company
- Common natural disasters in North Carolina that may affect home insurance
- How home insurance protects you against natural disasters
- Methodology