Kemper is the cheapest home insurance company in North Carolina, with rates as low as $791 per year — around $1,000 cheaper than the national average of $1,724 annually.
Cheapest homeowners insurance companies
Based on our analysis, Kemper, State Farm, and Allstate are the three cheapest home insurance companies in North Carolina, with statewide average premiums ranging from $791 to $923 per year. (Allstate and State Farm also made our list of some of the best home insurance companies in North Carolina.)
Bankers Insurance, Lititz Mutual Insurance, and Farm Bureau Insurance are also among the most affordable home insurance carrier options for North Carolina residents in 2024, as detailed in the table below.
Company | Average annual cost |
|---|---|
$791 | |
$900 | |
$923 | |
Bankers Insurance | $1,036 |
Lititz Mutual Insurance | $1,210 |
$1,210 | |
Universal Property | $1,384 |
Lighthouse Property Insurance | $1,433 |
$1,735 | |
$1,764 | |
$1,809 | |
$1,876 | |
$2,395 | |
$2,447 |
Methodology & why you can trust our rates
Policygenius has analyzed home insurance rates provided by Quadrant Information Services in March 2022 for ZIP codes in all 50 states plus Washington, D.C., for a 40-year-old female homeowner with no claim history, good credit, a $1,000 deductible, and the following coverage limits:
Dwelling: $300,000
Other structures: $30,000
Personal property: $150,000
Loss of use: $60,000
Liability: $300,000
Medical: $1,000
All rates based on the above coverage limits except where otherwise noted.
Some carriers may be represented by affiliates or subsidiaries. Rates provided are a sample of costs. Your actual quotes may differ.
Learn more >> Our complete guide to home insurance in North Carolina
Cheapest home insurance rates with a history of claims
One of the biggest factors that plays a role in your home insurance premium is your claims history. You'll typically pay more for home insurance if you have multiple claims on your record, since insurers perceive you as posing a greater risk of filing more.
Here's the cheapest home insurance companies in North Carolina for a homeowner with three claims within a five-year period:
Company | Average annual cost |
|---|---|
State Farm | $903 |
Allstate | $923 |
Lititz Mutual Insurance | $1,210 |
Farm Bureau Insurance | $1,210 |
Kemper | $1,328 |
Bankers Insurance | $1,504 |
Lighthouse Property Insurance | $2,302 |
Auto-Owners Insurance | $2,483 |
Erie | $2,488 |
Narragansett Bay | $2,585 |
USAA | $3,082 |
Universal Property | $4,368 |
Nationwide | $4,810 |
Farmers | $6,028 |
Cheapest home insurance rates if you have poor credit
Generally, individuals with better credit scores enjoy lower home insurance premiums. Insurance companies have found that customers with lower credit scores file more claims for small losses, like a pipe leak, since they may not be in a financial position to pay for these damages out of pocket.
With an average rate of $923 per year, Allstate has the cheapest home insurance rates in North Carolina for a homeowner with poor credit, while Auto-Owners Insurance average yearly premium of $8,534 is the highest.
Company | Average annual cost |
|---|---|
Allstate | $923 |
Kemper | $1,129 |
Farm Bureau Insurance | $1,210 |
Lititz Mutual Insurance | $1,210 |
Bankers Insurance | $1,411 |
Lighthouse Property Insurance | $1,522 |
State Farm | $1,549 |
Universal Property | $1,718 |
Narragansett Bay | $1,839 |
Farmers | $2,180 |
Nationwide | $3,376 |
USAA | $3,401 |
Erie | $4,964 |
Auto-Owners Insurance | $8,534 |
Cheapest home insurance rates if you have an older home
The median age of homes in North Carolina is 32 years old, according to an analysis of U.S. census data by House Method. And like many other factors, the age of your home plays a role in how much you pay for home insurance in North Carolina.
Older and historic homes are usually more expensive to insure than newer homes. This is because insurers consider them a higher risk than newer homes since they can be fragile, their construction materials may be obsolete, and certain structural components like the plumbing or roof may not be in good shape or up to current-day code. Because of this, they'll charge higher premiums to offset the risk.
Here are the cheapest home insurance options in North Carolina for a 50-year-old home.
Company | Average annual cost |
|---|---|
Kemper | $791 |
State Farm | $903 |
Allstate | $923 |
Bankers Insurance | $1,036 |
Farm Bureau Insurance | $1,210 |
Lititz Mutual Insurance | $1,210 |
Lighthouse Property Insurance | $1,522 |
Universal Property | $1,786 |
USAA | $2,037 |
Farmers | $2,094 |
Narragansett Bay | $2,278 |
Auto-Owners Insurance | $2,315 |
Erie | $2,488 |
Nationwide | $2,970 |
How to lower the cost of home insurance
You can lower the cost of homeowners insurance in North Carolina by taking advantage of discounts offered through your home insurance company. This might mean bundling your home and auto policies together for discounts off your premiums, or adding security systems to your home.
Another way to lower your homeowners insurance rates is by shopping around for home insurance in North Carolina and opting for a higher deductible. Just keep in mind a higher deductible means you’ll have to pay more money out of pocket when you file a claim.
Common home insurance discounts
Many insurance companies offer discounts for bundling home and auto insurance, paying your premium up front, not filing claims, and more. These are just some of the discounts that can add up to big savings on your policy:
Bundling discount
Claims-free discount
Affiliation discount
Protective devices discount
New construction discount
Learn more >> 13 common homeowners insurance discounts
