Cheapest home insurance in North Carolina (2024)

With rates ranging from $791 to $923, Kemper, State Farm, and Allstate all make our list of the cheapest home insurance companies in North Carolina.

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Rachael BrennanSenior Editor & Licensed Auto Insurance ExpertRachael Brennan is a senior editor and a licensed auto insurance expert at Policygenius. Her work has also been featured in MoneyGeek, Clearsurance, Adweek, Boston Globe, The Ladders, and AutoInsurance.com.

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Jennifer GimbelJennifer GimbelSenior Managing Editor & Home Insurance ExpertJennifer Gimbel is a senior managing editor at Policygenius, where she oversees all of our insurance coverage. Previously, she was the managing editor at Finder.com and a content strategist at Babble.com.

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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. 

Compare home insurance rates in North Carolina

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

Kemper

$791

State Farm

$900

Allstate

$923

Bankers Insurance

$1,036

Lititz Mutual Insurance

$1,210

Farm Bureau Insurance

$1,210

Universal Property

$1,384

Lighthouse Property Insurance

$1,433

Narragansett Bay

$1,735

Farmers

$1,764

USAA

$1,809

Erie

$1,876

Nationwide

$2,395

Auto-Owners Insurance

$2,447

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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

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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

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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

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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

Compare home insurance rates in North Carolina

Author

Rachael Brennan is a senior editor and a licensed auto insurance expert at Policygenius. Her work has also been featured in MoneyGeek, Clearsurance, Adweek, Boston Globe, The Ladders, and AutoInsurance.com.

Editor

Jennifer Gimbel is a senior managing editor at Policygenius, where she oversees all of our insurance coverage. Previously, she was the managing editor at Finder.com and a content strategist at Babble.com.

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