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Charlotte, 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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Charlotte, NC Homeowners Insurance
Charlotte, North Carolina, is home to the NASCAR Hall of Fame, the Charlotte Hornets NBA team, and the Carolina Panthers NFL team. With a metropolitan area with over two million residents, Charlotte is the most populous city in North Carolina. And the Queen City is regarded as the second-largest city in the Southeast. But residents say Charlotte still has that small-town feel. The attraction to the town is a great sign. Real estate investors and homebuyers alike are flocking to Charlotte as the city grows in popularity year after year. But as Charlotte grows, property owners need to protect their homes with the best home insurance policy. Charlotte is known for its humid subtropical climate. This climate can bring tropical storms that leave behind all kinds of devastation. Having the best coverage on homeowners insurance in Charlotte with extra protection against a covered loss is vital.
Insurify makes it easy for homeowners in Charlotte, NC, to find the best and cheapest home insurance. Compare the best insurance companies at the best home insurance rates now!
Cheapest Home Insurance Companies in Charlotte
For homeowners in Charlotte, 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 Charlotte. The following are the best insurance rates from carriers that offer homeowners insurance in Charlotte.
| 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 Charlotte
Charlotte, North Carolina, has a somewhat competitive housing market as demand is starting to outpace supply. If you’ve managed to snatch up a property in Charlotte, you know that it isn’t easy to find the best home on the block. But once you’ve secured a property, you need to protect your real estate investment. Natural disasters, fires, and theft can come with little to no warning. How can you get financial liability for your property from these risks? The answer is home insurance.
There are different coverage options available. It all depends on the property type, location, and other various factors related to your home. And there are ways you can save on protecting your dwelling, personal belongings, and personal liability.
Keep reading for a full guide on Charlotte home insurance.
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Cheapest Home Insurance in Charlotte 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 Charlotte area costs $1,463 annually, and the median home value is $260,711.
Charlotte, North Carolina, is regarded as diverse in its economy and quality of life. It’s also known as one of the fastest-growing cities in the country. Residents enjoy living expenses at around five percent lower than the national average. That means homeowners have room to save on homeowners insurance and additional coverage. You may need coverage like flood insurance, which is an exclusion on typical homeowners coverage. And since most residents need coverage for repairs after a tropical storm, flood insurance may be necessary.
Insurance companies like State Farm, Allstate, and Nationwide offer different coverage options. And they all come at different prices. But how do you know which home insurance companies offer the best insurance plans at the best rates? By comparing home insurance quotes in Charlotte by company.
See below the average cost of homeowners insurance in Charlotte, NC.
| Average Home Cost in Charlotte 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 Charlotte 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. |
|---|---|
| $260,711 | $1,463 |
Average Annual Home Insurance Premium in Charlotte 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 Charlotte for Home Insurance
Some Charlotte residents may live in areas with a higher risk of flooding and tropical storms than others. But that doesn’t mean you have to face the same risks and pricing as someone across town.
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 Charlotte 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 Charlotte
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.
Charlotte Homeowners Insurance and Flood Insurance
Severe storms, drought, tornadoes, and hurricanes happen in Charlotte, North Carolina. But the most significant threat is flooding on your Charlotte property. Charlotte is known for its humid and subtropical climate and the nearby Catawba River. High rainfall and severe tropical storms lead to surges in flooding. Unfortunately, flood insurance is not included with a standard homeowners insurance policy. The best way to protect yourself from flooding when you need to make an insurance claim is to purchase flood insurance. You can buy flood insurance through the National Flood Insurance Program (NFIP). The program will help you recover quickly when your property becomes flooded. Talk to your local agent about insurance options regarding flood insurance.
Bundling For Savings in Charlotte
Bundling can be a great money-saver when purchasing insurance coverage. Bundling lets you buy multiple insurance products. You can bundle things like life insurance and car insurance with home insurance. At the same time, you get discounts from the insurance agency. Insurers want their customers to purchase multiple insurance products at once and remain loyal to them. So they’re happy to offer deals and discounts. Talk to your local agent about bundling insurance policies. You can also get a quote by comparing the best insurance companies, like Liberty Mutual and State Farm, all at once. All you need to do is use Insurify’s home insurance comparison tool. Then, as soon as you know it, you’ll have quotes delivered straight to your email. It’s that simple!
How to Find the Cheapest Home Insurance in Charlotte
Charlotte, North Carolina, is a booming city with a competitive real estate market. You should get the right coverage for your home in Queen City. There are so many coverage options based on your property’s type, its location, and the varying risks where you live. But finding the cheapest home insurance in Charlotte doesn’t have to defeat you.
The answer is simple. Use Insurify to compare home insurance premiums for your property in Charlotte.
Frequently Asked Questions
Many large insurance companies offer to bundle with motorcycle insurance. Do you currently have auto insurance and want to know about bundling additional insurance products? Talk to your insurance agent. If you are looking for quotes, check out our comparison tool to ensure you get the best deal.
Yes, Erie Insurance offers coverage in North Carolina. However, Erie does not provide insurance in South Carolina. So if you plan to move there, be aware.
Many small and large insurance companies offer business insurance. For instance, State Farm is one of many to provide business insurance. Ask your local agent to find out if they provide business insurance.
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