When compared to those of other states, North Carolina home insurance quotes are very reasonable. At $649 a year, the average cost of North Carolina home insurance is well below the national average of $804; with Virginia's average of $662, Tennessee's $706, and South Carolina's $851, Tar Heels even have lower rates than their immediate neighbors. Averages, however, mean very little if you've got the wrong plan or are getting your insurance from the wrong provider. To make sure you're getting the best deal on home insurance, North Carolina residents need to dig a bit deeper.
What North Carolina Homeowners Insurance Quotes Suggest
There are several factors that insurance providers consider when determining quotes, but nearly all of them boil down to a single question: How much will we have to pay out for this policy? Because North Carolina homeowners insurance quotes are statistically lower than those nationwide, it can be assumed that insurance providers deem the average local home to be less likely to cost them money in the future.
Why are N.C. homes less of a risk for insurance companies? First, a large percent of North Carolinians reside in rural areas; the more rural the area, the less likely a home will be damaged by other people (rural homes are also statistically cheaper to repair than urban homes, so when damage does occur, the insurance company doesn't have to pay out as much money). The next reason why North Carolina home insurance quotes are lower than those in other areas has to do with local property values. While there are certainly plenty of houses throughout the state that are assessed at very high values, the average cost of a home remains pretty reasonable in North Carolina. Homeowners insurance is more costly where homes are more costly, and more reasonable where property values are more reasonable. Other factors, like the number of lightning strikes and the frequency of house fires may also play a role in lowering North Carolina homeowners insurance quotes.
North Carolina Home Insurance Coverage and Exclusions
If you are thinking about switching insurance providers or are ready to purchase your first policy, it is important to examine the coverage and exclusions each policy offers before you begin comparing quotes. Most policies cover damages caused by fire, lightning, wind, and hail, but home insurance typically does not cover damages caused by floods. Some home insurance will give you the replacement cost of the items inside your home, while others will give you only the estimated value of these items, which is often considerably less. There are policies that will pay for a hotel while your home is being fixed and policies that will compensate you for trees lost to disease. The bottom line is, North Carolina home insurance can cover just about anything, but you should only compare the quotes of policies that offer similar coverage and exclude similar incidents.
Where to Compare North Carolina Home Insurance Quotes
Of course, you can look up every local insurance company in the phone book and ask each for quotes on similar policies with similar limits and similar exclusions and coverage; this, however, is really more hassle than you need to put yourself through. Using NetQuote, you can get multiple home insurance quotes from providers in your area simply by filling out a brief form and typing in your zip code. NetQuote can quickly and conveniently show you several quotes for policies of similar design available in your area, making side-by-side comparisons easy! Once you have the numbers in front of you, you'll have no problem spotting the best policy for your money. NetQuote even offers advice for lowering your existing home insurance!