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Greensboro, NC Homeowners Insurance Quotes (2023)
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Written by
Jackie Cohen
Editorial Manager
Jackie Cohen is an editorial manager at Insurify specializing in property & casualty insurance educational content. She has years of experience analyzing insurance trends and helping consumers better understand their insurance coverage to make informed decisions about their finances.Jackie's work has been cited in USA Today, The Balance, and The Washington Times.
Edited by
John Leach
Insurance Content Editor at Insurify
John Leach is an insurance content editor who has worked in print and online. He has years of experience in car and home insurance and strives to make these topics easy to understand for everyone. He has a linguistics degree from UC Santa Barbara.
Updated February 28, 2022
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Greensboro, NC Homeowners Insurance
The third-largest city in North Carolina, with a metro population of 757,810, is Greensboro. If you’re looking for a lovely and low-key city, then Greensboro is the place to be. The city’s residents love exploring the large, wooded areas, boating, fishing, and biking many of the Piedmont trails. Residents also love reenacting the Revolutionary War battles at National Battlefield Park. It’s not just historical preservation that draws in residents and tourists. It’s also downtown Greensboro, with plenty of restaurants and nightlife entertainment to take in. All of these pleasant activities and its laid-back nature make residents stay in Greensboro, North Carolina.
However, with the pleasant lifestyle come a few unpleasantries. Natural disasters disturb everyday life in Greensboro. Tropical storms and hurricanes, severe storms, winter storms, tornadoes, landslides, and wildfires are typical in Greensboro. These natural disasters can create property damage or destroy homes in their paths. How can you possibly pay for these risks? That’s where homeowners insurance comes in. Home insurance will pay for property damage for most of these hazardous events. But how do you get started?
You can compare home insurance quotes and coverage options with Insurify. You can get a free quote delivered to your inbox in minutes. It’s that easy. Try us out now!
Cheapest Home Insurance Companies in Greensboro
For homeowners in Greensboro, it's important that you evaluate all of your potential insurance options to ensure you are finding the best rate. Comparing the right insurance companies will allow you to get the best possible insurance rate for your home.
To simplify comparing companies, Insurify has analyzed rates from top insurance providers in Greensboro. The following are the best insurance rates from carriers that offer homeowners insurance in Greensboro.
| Cheapest Companies | Quotes The car insurance quotes, statistics, and data visualizations on this page are derived from Insurify’s proprietary database of over 4 million car insurance applications from ZIP codes across the United States. Insurify’s data science team performs a comprehensive analysis of the various factors car insurance providers take into account while setting rates to provide readers insight into how car insurance quotes are priced. |
|---|---|
| Encompass | $678 |
| USAA | $801 |
| Travelers | $815 |
| UPC | $1,613 |
| State Farm | $1,981 |
How to Find Cheap Home Insurance in Greensboro
In Greensboro, North Carolina, more people are on the hunt for homes, as the city is currently experiencing a seller’s market. So, if you are looking at homes or recently bought a home, now is the time to get everything together and plan for the future.
When you buy a home, it’s not required to purchase a home insurance policy, but it’s still something you should do. Homeowners insurance protects your home and personal belongings financially if something bad happens to them, such as fire, theft, or vandalism. Your home insurance will cover financial investments like your property and precious items if a risk occurs. You can even find different coverage options available depending on what you need, your home’s style, and its location. You can even find additional coverage for antiques, jewelry, and other pricey items. There’s something available for everyone in your area!
Keep reading for a full guide on Greensboro, North Carolina, homeowners insurance.
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Cheapest Home Insurance in Greensboro by Company
Homeowners insurance rates aren’t always designed with savings in mind. That’s where Insurify comes in. Our free home insurance comparison tool allows you to find the best policy for the best rate fast. And your information stays private and protected.
As of 2021, the average home insurance premium in the Greensboro area costs $1,463 annually, and the median home value is $177,642.
Greensboro’s average cost of living is slightly lower than the state’s average. Housing prices are around 26 percent lower than North Carolina’s average. Even home insurance prices are less than the national average. But cheaper prices on homeowners insurance will depend on your area of Greensboro and the insurance company. Insurance companies don’t all have the same price. So while Allstate may offer one price, State Farm and Nationwide offer different pricing. Thankfully, you can see the difference between home insurance companies and their pricing. Just compare Greensboro’s best insurance companies. You’ll then gather home insurance quotes and see your savings. Give Insurify’s home insurance comparison tool a try and see the savings now!
Check out the average cost of homeowners insurance in Greensboro, NC, below.
| Average Home Cost in Greensboro The car insurance quotes, statistics, and data visualizations on this page are derived from Insurify’s proprietary database of over 4 million car insurance applications from ZIP codes across the United States. Insurify’s data science team performs a comprehensive analysis of the various factors car insurance providers take into account while setting rates to provide readers insight into how car insurance quotes are priced. | Average Annual Insurance Premium in Greensboro The car insurance quotes, statistics, and data visualizations on this page are derived from Insurify’s proprietary database of over 4 million car insurance applications from ZIP codes across the United States. Insurify’s data science team performs a comprehensive analysis of the various factors car insurance providers take into account while setting rates to provide readers insight into how car insurance quotes are priced. |
|---|---|
| $177,642 | $1,463 |
Average Annual Home Insurance Premium in Greensboro by Company
Average prices for standard homeowners insurance for a 7-15 year old home, $200,000 in coverage
Encompass$678
USAA$801
Travelers$815
UPC$1,613
State Farm$1,981
Auto-Owners$2,029
Allstate$2,691
Nationwide$2,961
Erie$3,219
Cheapest ZIP Codes in Greensboro for Home Insurance
Homeowners insurance pricing is varying. So while you’re paying one price for home insurance on the north side of Greensboro, your family on the south side of Greensboro is likely paying a different price.
Like property costs, home insurance varies in price from city to city. Pricing is determined by ZIP code–specific variables, such as the volume of claims filed nearby, crime rates, and property costs, and risk variables, such as natural disaster frequency. Even your specific neighborhood may determine if you pay more or less on your annual premiums.
Rates in Greensboro can be relatively high or low compared to the national average; it all depends on which area you live in.
Home Insurance Coverage Types in Greensboro
There are several types of home insurance. Specific terms of insurance policies may vary by city, but in general, the standard policy types are as follows:
The simplest and least comprehensive type of homeowners insurance
Provides coverage for a handful of potential problems, including
- Dwelling coverage for damages from some natural disasters (storms, fires, wind, lightning, volcanic eruption),
- explosions,
- theft,
- damage from vehicles,
- or civil commotion.
Broad form homeowners insurance policies include all basic form coverage, plus protection from:
- falling objects,
- damage from the weight of ice, snow, or sleet,
- freezing of household systems including HVAC and pipes,
- sudden and accidental damage to pipes and other household systems from artificially generated electrical current,
- accidental discharge or overflow of water or steam,
- sudden and accidental damage.
HO-2 policies typically cover both dwelling protection and personal property.
In some cases, broad form coverage may also include liability coverage. However, it still only covers the specific damages listed in the policy.
The most common form of homeowners insurance is known as a “special form” policy.
While HO-1 and HO-2 policies are “named peril” policies (meaning they only cover dangers that are specifically listed in the policy), HO-3 policies are “open peril” policies meaning they’ll cover all dangers except those specifically excluded in the policy documents.
HO-4 policies, also known as renters insurance, are for people who lease rather than own their homes.
Tenant’s form policies typically cover all the same dangers as HO-2 policies.
These policies include personal property coverage and liability coverage but don’t cover the physical structure of the house.
Some HO-4 policies may also include loss of use coverage for the tenants.
Comprehensive form policies are usually the broadest and provide the highest level of coverage; not surprisingly, they also tend to be the most expensive type of homeowners insurance policy.
The biggest difference between HO-3 and HO-5 policies is that most HO-3 policies are “actual cash value” policies, whereas typically HO-5 policies are “ replacement cost value” policies.
An actual cash value policy will only reimburse you for the actual value of a damaged or destroyed item, while a replacement cost value policy will reimburse you for however much it would cost to completely replace or repair the damaged or destroyed item (up to the coverage limits on the policy).
HO-5 policies also provide personal property coverage against a wider range of dangers than the typical HO-3 policy. Many HO-5 policies also have extra coverage for high-value personal property, such as jewelry and artwork.
Not surprisingly, condo form insurance is for condominium owners. HO-6 policies generally protect against the same types of dangers as HO-3 policies.
They provide dwelling protection coverage with a twist: HO-6 policies cover the walls, floors, and ceiling of the condo unit but not the rest of the building.
These policies also include personal property and liability coverage and may include loss of use coverage.
If you own a mobile home or manufactured home, you likely have an HO-7 policy.
Mobile home form policies are typically identical to HO-3 policies, except they’re designed specifically for mobile and manufactured homes.
Like HO-3 policies, they provide dwelling protection coverage, other structures coverage, personal property coverage, liability coverage, and possibly loss of use coverage as well.
HO-7 policies generally only protect the home when it’s stationary; if you plan to move your mobile or manufactured home, you’ll need to get a special policy to cover it while it’s in transit.
Older homes have generally been built to less stringent code standards than recently built homes, and so insurers have designed a specialized type of homeowners insurance policy for them.
HO-8 policies often only cover the basic perils listed in HO-1 policies and generally apply to homes that are registered landmarks or otherwise deemed historic homes.
Owners of registered landmarks are typically forbidden from making the updates to HVAC, electrical, and other parts of the home that would enable them to qualify for a standard HO-3 policy, so an HO-8 policy is often the only option for them.
For more detailed North Carolina city level guides, check out these below.
Greensboro Extreme Weather and Home Insurance Rates
Natural disasters happen everywhere. But in Greensboro, North Carolina, hurricanes, tropical storms, and flooding are common occurrences. North Carolina’s coastline is so vulnerable. Even inland areas like Greensboro can be devastated by storm surges, tornadoes, flooding, and landslides.
Wind damage and fire damage are covered as a result of a storm. But flooding, mudslides, and landslides are not typically covered on a homeowners insurance policy. You are probably in a high-risk area for flooding due to the frequency of these storms. No one wants to deal with water damage on their property. Thankfully, flood insurance is available through the National Flood Insurance Program. It’s provided through the Federal Emergency Management Agency (FEMA). Ask your insurance agent for more information on additional coverage like flood insurance.
How to Get the Best Homeowners Insurance Quotes in Greensboro
When you purchase an insurance policy, you can buy more than one at the same insurance company. You could combine home insurance with car insurance and life insurance. This practice of combining insurance policies under one insurance agency is known as bundling. Insurance companies love to reward customers for purchasing more insurance products. The companies do so by providing discounts and deals. The savings don’t stop there, though.
There are other discounts you can get from the insurance industry as well. You can get a loyalty discount for sticking it out with your insurance agency over a specified number of years. Demonstrate a history of no claims over a long period, and your insurance company will reward you with lower rates, too. Next, do you live in a gated community or have a security system? The fewer threats to safety, the more your insurance company is likely to reward you with discounts. There are also discounts for buying a new home, mature homeowners, and life changes like getting married or being widowed. Tons of little discounts here and there add up!
When you’re ready, you can compare and save on your insurance in Greensboro. All you need to do is fill out your information, compare the best insurance companies, and get a quote. Once you have all your ducks in a row with coverage options, personal liability limits, and discounts, you will have peace of mind for your property. Use Insurify to save now!
How to Find the Cheapest Home Insurance in Greensboro
Greensboro, North Carolina, is a pleasant and quiet place to live and play. You’ll love living in an area where outdoor adventures are in your backyard. But when all is said and done, you’ll still need protection on your property in Greensboro. The best way to protect your home is to purchase the right homeowners insurance. It won’t be long until you start saving on your insurance policy.
Use Insurify to compare home insurance premiums for your property in Greensboro.
Frequently Asked Questions
Yes. Most insurance companies welcome the idea. You can also combine your home insurance with life insurance. And, as a perk, you’ll get a discount!
Flood insurance is not included with a home insurance policy in Greensboro, NC. You’ll have to purchase a separate flood insurance policy. Contact your insurance agent for more information and pricing.
You can find insurance groups offering business insurance in Greensboro by searching the National Association of Insurance Commissioners (NAIC) website. There, you can narrow down insurance companies based on your preferences.
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