The Raleigh housing market is projected to continue to be strong, since the city is located in North Carolina’s Research Triangle of emerging tech-startup cities. Reports naming Raleigh among the top emerging rental markets have likely prompted homebuyers to notice an increase in new residents.
It is crucial to protect your appreciation investment. Raleigh is susceptible to flooding, tornadoes and hurricanes that can cause damage. According to annual premiums, homeowners insurance in Raleigh costs $1,247 per annum for $250K of dwelling insurance. Raleigh, North Carolina home insurance is a way for you to financially protect your home from the elements and other situations beyond your control.
If you have to replace, repair, or rebuild your home or any of its contents, you can get financial support from an insurance company through home insurance. Even though rates in this city are lower than the national average cost for the same amount of coverage, Raleigh homeowners may be looking for the best deal. Here are five of the top home insurance companies in Raleigh, North Carolina, chosen based on low premiums and high levels of customer service.
Raleigh’s best home insurance company
Bankrate’s analysis of regional and national home insurance rates yielded premiums for Raleigh’s top home insurers by market share. We also examined the types of homeowner policies offered by each company and evaluated 2020 J.D. to narrow down our list. Based on reviews, we gave each power rating.
Kemper
Kemper Insurance is a good choice for homeowners with tight budgets. The city’s average rate is $1,247 per annum. However, the average annual premium for Kemper Insurance is $774. Kemper may offer affordable coverage to homeowners living in Raleigh’s historic downtown. However, your rates will be affected by your home’s worth and other unique factors.
Kemper offers homeowners insurance packages called Kemper PrimeHome Essential, Elite, and Enhanced. You can start with Essential, which is the entry-level product, depending on what level of coverage you need. The two higher tiers offer more financial protection and include add-ons such as water backup or replacement cost.
Travelers
Raleigh residents are familiar with Travelers insurance for their vehicle coverage. However, homeowners insurance policies can also be an option based on the quoted rates. Home insurance in Raleigh costs an average of $883 annually. Bundling policies for your car and home can help you get the best rates. Bundling may also include insurance for boat or yacht owners.
Erie
Based on Bankrate rates, Erie Insurance ranks third in Raleigh. It has 20 offices around the city and is therefore the most affordable carrier. Erie insurance policies also include guaranteed replacement cost. This is a common option for home insurance companies.
Guaranteed replacement costs pay the full cost to replace items damaged by a covered peril or hazard. Guaranteed replacement cost is different from most cash-value policies that deduct the age or condition of the items. It allows you to buy a new item.
All over the country
Independent agents can help you find Nationwide Insurance in Raleigh. There are 42 available to help you with everything from obtaining quotes to filing a home insurance claim. Nationwide also offers Raleigh homeowners unique optional coverages. Better Roof Replacement, for example, allows you to replace your roof with more durable materials after a claim. While many Raleigh residents may prefer asphalt roof shingles, Nationwide policyholders can choose from better materials the next time their roof needs work, should they choose to upgrade.
USAA
Military personnel currently or formerly stationed in eight of the military bases in North Carolina (or elsewhere) may be eligible for affordable home insurance through USAA. This membership-based association provides coverage for veterans, active-duty military personnel (and their families), that is free and includes extras.
USAA HO-3 policies include identity theft protection as well as replacement cost coverage. USAA can also provide flood insurance for Raleigh residents who have been required by their lender to get flood insurance because of the area their home is located.
Raleigh offers a variety of home insurance options
Raleigh’s neighborhoods are fairly safe, especially areas such as Leesville, Bayleaf and Ten Ten Road. There are many areas that offer a different level of tranquility. Therefore, it is important to ensure you have adequate coverage in case of theft. Floods are another danger Raleigh residents need to be aware of. There are three major rivers that run through the city and areas designated as floodplains. Raleigh residents may want to consider the following coverages:
- Scheduled personal property: Electronics valued at more than $1,000, gold and diamond jewelry, collectibles and other items that are valuable must be listed on the policy. These items are most difficult to replace in the event of a break-in.
- Flood insurance: Raleigh is one of the country’s leaders in building homes in areas at risk for flood. Flood insurance can provide financial protection for flood-related hazards due to the higher likelihood of severe storms or flash flooding.
- Water backup: This isn’t the only kind of water damage that is not covered under a standard policy. If you don’t purchase the add-on you will not be covered for damage to a sump pump that is failing or backed up, as well as costly bills for repairs and replacement of personal property.
Raleigh home insurance discounts
Home insurance in North Carolina averages $1,515 per year for $250K in dwelling coverage, with Raleigh rates coming in lower at $1,247 annually based on rates from Quadrant Information Services. You can find more affordable rates by comparing quotes from different home insurance providers and taking into account any discounts that might be available to you. These could include:
- Advance discount: Carriers prefer policyholders to not lapse in their home insurance coverage. You may be eligible for a discount by renewing your home insurance policy early.
- Bundling: Combining policies such as home and car insurance with the same carrier can lower your premiums.
- Renovations to your home: Raleigh’s historical neighborhoods Oakwood and Mordecai Place have a wide range of Victorian homes as well as bungalows in other styles. You may be eligible for an additional discount by upgrading plumbing, wiring, and other features.
- Protective devices: Having your home secured can provide you with peace of mind and help you to save money on insurance. Some home insurance companies offer ways to lower your premiums. These include deadbolt locks, carbon monoxide detectors, and an alarm system.
Bundling is one of the best ways to save money for Raleigh residents. Bundling could offer a discount on all coverages, not just the homeowners.
Questions frequently asked
Which Raleigh home insurance company is best?
Comparing quotes is a great way to find the best Raleigh home insurance rates. The best home insurance companies in Raleigh according to Bankrate (based on price and customer ratings) are USAA, Nationwide, Erie, Kemper and Travelers.
What is the cost of Raleigh, NC home insurance?
Bankrate’s study found that home insurance in Raleigh, North Carolina averages $1,247 per year for $250K in dwelling coverage, lower than North Carolina’s average premiums of $1,515 per year.
