How much is homeowners insurance in Winston-Salem, NC

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As per Insure.com’s rate data analysis, the average cost of homeowners insurance in Winston-Salem is $2,111 per year (for the coverage level of $300,000 for dwelling, $100,000 for liability protection and $1000 deductible), It’s $393 less than the national average of $2,504.

Homeowners insurance rates differ significantly from one home to another. Home insurance rates in Winston-Salem depend on several factors, including:

• Size of your home
• Age of your home
• Amount of coverage you need
• Location
• Your credit score

State Farm is the cheapest homeowners insurance company in Winston-Salem with an average annual premium of $772 per year.

This guide covers everything from available coverage options to companies with the cheapest homeowners insurance rates in Winston-Salem. Keep reading to learn about the monthly cost of homeowners insurance in Winston-Salem, the cost for different dwelling coverage levels, and discover which companies provide the most affordable home insurance in Winston-Salem.

How much is homeowners insurance in Winston-Salem per month

Winston-Salem homeowners pay an average of $176 a month, based on our rate analysis. It’s $68 less than the state average of $244 and $33 less than the national average for home insurance across the United States. The price of your homeowners insurance policy in Winston-Salem may vary depending on where you live, the value of your home, and the coverage you choose.

How much is homeowners insurance for a $200,000 house in Winston-Salem

The average cost of homeowners insurance in Winston-Salem, NC is $1,378 annually for the dwelling coverage of $200,000 and the liability protection of $100,000. The amount you pay for home insurance each year depends on many different things. The types of natural disasters or events that take place in your area affect how much you pay for coverage in your city.

Some areas are more at risk for natural disasters, like flood, hurricanes, or tornadoes. This means that if something happens, the cost of rebuilding would be higher in those areas, thereby leading to higher insurance premiums. Your insurance policy might not cover damage caused by floods or hurricanes. So, if you live in a flood-prone area, consider buying flood insurance coverage.

How much is homeowners insurance for a $300,000 house in Winston-Salem

As per rate analysis by Insure.com, homeowners residing in Winston-Salem typically pay an average of $2,111 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 $733 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 Winston-Salem by company

Among the carriers analyzed, State Farm is the most affordable homeowners insurance company in Winston-Salem, offering an average annual rate of $772, while North Carolina Farm Bureau ranks second.

Researching a company thoroughly before selecting a homeowners insurance policy is essential. Insure.com has meticulously reviewed all insurance companies operating in Winston-Salem and compiled a list of the most affordable options.

Below are the details of home insurance companies in Winston-Salem and their average annual premiums.

Common natural disasters in North Carolina that may affect home insurance

Natural disasters can happen unexpectedly and cause serious damage to your home and belongings. It’s important to know these risks so you can make sure your home insurance covers you properly if something happens.

Ice storm and Winter weather are some of the common natural disasters in North Carolina that could affect your home insurance costs.

How home insurance protects you against natural disasters

Home insurance can provide valuable protection against the financial impact of natural disasters. Standard home insurance policies typically cover damages from fire, windstorms, hail and lightning. However, events such as floods, earthquakes or landslides are often excluded and require purchasing additional policies or endorsements. For example, flood insurance must be purchased separately, as it is not typically covered by a standard home insurance policy.

Home insurance helps pay for home repairs, replacement belongings and temporary living expenses if your dwelling becomes uninhabitable due to damage. The protection offered by home insurance can significantly reduce the financial impact of natural disasters.

Methodology

Insure.com, with the help of Quadrant Information Services, gathered data for homeowners insurance rates in Winston-Salem 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.

Shivani Gite

Contributing Writer

 

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Shivani Gite is a personal finance and insurance writer with a degree in journalism and mass communication. She is passionate about making insurance topics easy to understand for people and helping them make better financial decisions.

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