Best homeowners insurance in Charlotte, NC for 2022

Charlotte, North Carolina is a beautiful city to own a home. The homes are affordable, the weather is beautiful, and despite its growing size, Charlotte still has a small town charm that many homeowners love. Despite the risk of damage from the storms that come up the Carolina coasts, homeowners insurance is affordable and on par with the rest of the state.

The average cost of homeowners insurance in Charlotte is $1,605 per year or $134 a month. This is around 5% lower than the statewide average of $1,678 per year, and about 15% lower than the national average of $1,899 per year. 

However, cost isn’t the only factor to consider when choosing a home insurance company. Not sure what to look for? Policygenius can help you figure out your coverage needs and compare quotes from multiple top companies in Charlotte, NC.  

Best homeowners insurance companies in Charlotte

Of the companies that we analyzed, Allstate has the lowest rate, with an average annual policy cost of $870, almost half the state average. 

In addition to policy cost, it’s also important to look at a company’s customer and claim satisfaction ratings through J.D. Power to see if the company can deliver when it comes time to use your coverage. 

Looking at the largest home insurance companies in Charlotte by market share, Policygenius analyzed the latest rate data from Quadrant Information Services to find out how much you can expect to pay with each company in 2022. We then looked at 2021 J.D. Power customer satisfaction scores and compared that with the coverage needs of Charlotte residents to find the best homeowners insurance in Charlotte.

State Farm

There's a reason State Farm is one of the top-rated insurance companies in the U.S. — its customer satisfaction ratings are through the roof, it offers a slew of coverage add-ons for full protection, and makes filing claims through its mobile app a breeze.

Pros

• Top-tier coverage add-ons, including equipment breakdown, water backup, and service line coverage

• Get up to $1 million in personal liability coverage

• Score discounts for bundling, installing security devices, and choosing a high deductible

• File and track claims online, over the phone, in person, or through its mobile app

• High customer satisfaction and financial strength ratings

Cons

• No discounts for first-time homebuyers or going a year without a claim

Read our full State Farm home insurance review

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Why State Farm tops our best list

In choosing State Farm for homeowners insurance, Charlotte homeowners are getting a company that prioritizes customer satisfaction. In addition to great customer service ratings with J.D. Power, State Farm also makes it easy to file a claim online or over the phone.

And its slew of coverage add-ons allow you to customize your policy to suit your specific needs — something that gives this large insurance company the small town feel that Charlotte residents prize.

How to get a quote

Online through State Farm

North Carolina Farm Bureau Insurance

North Carolina Farm Bureau Insurance offers everything from home, auto, and farm insurance to flood and windstorm/hail-only coverage — allowing you to keep all of your policies under one roof.

Pros

• Offers a slew of insurance products on top of home insurance — including auto, life, liability, and farm insurance — to keep all of your policies with one company

• Flood insurance and windstorm/hail-only policies available — a rarity among insurers

• Mobile home insurance coverage available

• Solid customer service ratings

• File claims online

Cons

• Farm Bureau membership required for coverage

• No information about specific coverages and discounts available online

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Why North Carolina Farm Bureau Insurance tops our best list

Wind and hailstorms are common in the Charlotte area, so homeowners should make sure their homes are fully protected in the event of inclement weather. North Carolina Farm Bureau Insurance offers both home insurance as well as separate windstorm/hail coverage for policies with wind and hail exclusions — something that may prove valuable for high-risk homes in Charlotte. Rather than having to take out policies from several different companies, North Carolina Farm Bureau Insurance allows Charlotte homeowners to get everything in one place.

How to get a quote

By calling North Carolina Farm Bureau Insurance

USAA

USAA's robust coverages and high marks for customer service and claims satisfaction make it a solid home insurance option for military members and their families.

Pros

• Score discounts for zero claims, being a loyal USAA member, opting into e-billing, and more

• Base policy includes coverages that cost extra with most other companies

• Offers earthquake coverage — which is hard to come by

• Get discounted home security systems and a discount on premiums through its partnership with ADT

• Industry-best customer service and claims satisfaction ratings

Cons

• Only available to military families

• Doesn’t offer extended or guaranteed replacement cost dwelling coverage

Read our full USAA home insurance review here

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Why USAA tops our best list

USAA, an insurance company only available to members of the military and their families, has excellent coverage options, great customer service ratings, and several available discounts for Charlotte residents. USAA’s basic policies include numerous coverages that are considered “add-ons” at other companies, making this a great option for anyone looking for a little more from their insurance provider.

How to get a quote

Online through USAA

Nationwide

Nationwide offers flexible home insurance policy options for every home type and income level. And we love its slew of discounts for everything from having a newish roof to living in a gated community.

Pros

• Offers lots of coverage add-ons, including flood and earthquake insurance

• Option to rebuild roof with stronger, safer materials after a covered loss

• Score discounts for living in a gated community, making home renovations, having a newer roof, and more

• Seamlessly submit claims online or through its mobile app

• Above-average claims satisfaction rating

Cons

• Below-average customer satisfaction ratings

• Water backup coverage is more expensive than with other insurers

Read our full Nationwide home insurance review here

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Why Nationwide tops our best list

While Nationwide’s rates are higher than the Charlotte average, it offers several discounts that can help keep your premium low. In addition to potential savings, Nationwide’s numerous policy add-ons, including better roof replacement and enhanced coverage for expensive valuables, allow Charlotte residents to truly personalize their policies.

How to get a quote

Online through Policygenius or Nationwide

Allstate

Allstate's mix of exceptional customer satisfaction ratings, personalized coverage options, and numerous discount opportunities make it one of the most popular homeowners insurance companies on the market.

Pros

• Several coverage add-ons, including ones for roof surfaces, water backup, green improvements, and mold protection

• 8+ discounts, including autopay, bundling, zero claims, and new homebuyer

• Get up to 25% off your premiums when you bundle home and auto insurance

• Excellent customer service and claims satisfaction ratings

• File and track claims online or through its mobile app

Cons

• Rates are typically high compared to competitors

Read our full Allstate home insurance review

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Why Allstate tops our best list

Allstate offers many high quality coverage add-ons that may appeal to Charlotte homeowners, such as green improvements and water backup coverage. The discount for new homebuyers is especially attractive as Charlotte continues to grow with an influx of new homeowners.

How to get a quote

Online through Policygenius or Allstate

Cheapest homeowners insurance companies by ZIP code in Charlotte

Looking at average home insurance costs for 15 of the most popular companies in Charlotte, we found that the cheapest home insurance in the city can be found in the 28278 ZIP code (suburban Charlotte) with State Farm.

The average State Farm rate in this area is $401 per year, which is $1,200 less than the city average of $1,605 per year. In fact, homeowners in every Charlotte ZIP code will likely find that State Farm or Allstate is their cheapest home insurance option.

The most affordable areas for homeowners insurance in Charlotte

With an average home insurance rate of $1,567 per year, the 28278 ZIP code is one of the most affordable areas for home insurance in Charlotte.

The median value of homes in this area of Charlotte is $458,034, which is close to $100,000 higher than the median home value in all of Charlotte at $367,231, yet insurance premium rates are among the lowest in the city.

As a suburban area of Charlotte with many gated communities, this ZIP code is considered a safe place for families.

The most expensive areas for homeowners insurance in Charlotte

With an average home insurance rate of $1,692, the 28280 ZIP code right in the center of the First, Second, Third, and Fourth Wards is one of the most expensive areas for home insurance in Charlotte.

This area has a slightly higher crime rate than the rest of the city, which may explain the higher home insurance rates.

Shopping for homeowners insurance in Charlotte

When shopping for homeowners insurance, make sure the coverage amounts in your quotes reflect your actual coverage needs. This will allow for a more accurate coverage and rate comparison. A Policygenius expert can help guide you through the process of comparing quotes.

Charlotte residents in particular will want to check to make sure their policies cover wind and hail damage, two perils that are often excluded in high-risk areas. This will allow you to repair your home in case of a storm.

In this section, we break down the average annual home insurance rates in Charlotte for different coverage and deductible levels, as well as the cheapest and most expensive home insurance companies for dog and pool owners. Once you’re ready to shop, a Policygenius expert can help you navigate your coverage needs and help you find the best deal on homeowners insurance in Charlotte.

Charlotte home insurance costs by coverage amounts

Dwelling coverage is the section of your homeowners insurance policy that protects your home from covered losses, such as fire or storm damage. Your dwelling coverage should be equal to the cost to replace your home — not its market value. This cost is determined by things like your home’s square footage and construction costs in your area. 

As the table below indicates, the more dwelling coverage you have, the higher your annual premium will be. In Charlotte, for every $100,000 in dwelling coverage, the insurance premiums increase approximately $400 per year. 

Liability coverage is the section of your policy that covers legal, medical, and repair bills if someone is injured or their property is damaged and you are legally responsible. This covers instances such as dog bites, injuries in a pool or on a trampoline, or if a visitor falls down your stairs. 

You should have enough coverage to cover the value of all of your assets in the event that the victim decides to sue. That means you’ll want to consider the value of your home, automobiles, future earnings, and anything else that holds value. 

As seen in the table, more liability coverage doesn’t always mean higher average rates. In this case, $300,000 in liability coverage has a higher average than $400,000 of liability coverage in Charlotte. Even though your premiums will differ slightly from the average, opting for high liability coverage limits is a great value add for your policy.

Charlotte home insurance costs by deductible amount

Your deductible is the amount that you will need to pay toward a loss when you file a claim. That means if you file a claim for $5,000 and you have a $1,000 deductible, your insurer would pay out $4,000 for the loss. 

Choosing a high deductible will lower your premiums, but there is a risk in doing this. You’ll want to make sure it’s set to an amount you can afford in the event of a loss.

As seen in the table below, Charlotte residents can save around $260 on home insurance by choosing a $2,000 deductible over the $500 option.

Home insurance discounts in Charlotte

Insurance companies offer small discounts for installing safety features in your home, such as smoke alarms, burglar alarms, and deadbolts. If you protect your home with safety features, your chances of filing a claim go down, and insurance companies want to incentivize this proactive protection. 

Although Charlotte does not experience a ton of crime, there are still areas in Charlotte where adding a security system can make your home safer and reduce your insurance costs.

While you won’t get a huge discount if your house has one of the following features and nothing else, they can add up if you have several protective devices in your home. Here is the average annual rate and average discount percentage for homes in Charlotte with deadbolts, smoke alarms, or burglar alarms.

Home insurance companies in Charlotte for dog owners

Because certain breeds of dogs are responsible for most dog bite claims, insurance companies often charge higher rates if you have what they consider to be an “aggressive breed.” Homeowners with these breeds will see an increase in their premiums over the average.

With an average rate of $870 per year, Allstate has the cheapest home insurance rates in Charlotte for a home with a dangerous dog breed. Meanwhile, Nationwide's average yearly premium of $2,426 is the highest. 

Home insurance companies in Charlotte for poor credit

You’ll also need to consider your credit score when you shop for homeowners insurance in Charlotte. Although not every insurance company takes credit score into consideration, many do. In general, the lower your credit score, the higher your insurance premiums will be, and vice versa. 

With an average rate of $870 per year, Allstate has the cheapest home insurance rates in Charlotte for a homeowner with poor credit. Meanwhile, USAA's average yearly premium of $3,308 is the highest. 

Home insurance companies in Charlotte for pool owners

If you own a pool, your insurance company may also consider you to be more risky to insure. A pool will impact both your liability coverage, since the risk of injury is high, and your dwelling coverage, since the structure of your pool will factor into your coverage limits.

Not every insurance company will put the same weight on pool ownership. If you are a pool owner, make sure you compare policies.

With an average rate of $870 per year, Allstate has the cheapest home insurance rates for Charlotte homes that have a swimming pool, while Nationwide's average yearly premium of $2,426 is the most expensive.

How to buy homeowners insurance in Charlotte

Finding the right amount of coverage at the right price may seem like an overwhelming endeavor, but it’s actually fairly easy if you know what to look for in a company and policy. Since Charlotte’s average annual premium of $1,688 is below the national average, you will still enjoy lower rates than most, but there are other things you should consider when choosing a policy.

Here are a few steps to follow as you shop for homeowners insurance in Charlotte: 

1. Reach out to a licensed Policygenius agent. Our team of licensed insurance experts are waiting to help you figure out how much coverage you need and what company offers it at the best price. Our agents do this for free with no impact to your credit score.

2. Ask about NCJUA — North Carolina’s FAIR Plan provider. If you are unable to obtain coverage in the private market due to being labeled “high risk,” ask your Policygenius agent about whether a policy through North Carolina’s FAIR Plan makes sense. 

3. Consider purchasing hail and wind insurance. Since wind and hail is sometimes excluded from home insurance policies in areas of North Carolina at risk of tropical storms, you may need separate windstorm insurance to make sure you’re fully protected. A Policygenius agent can help you do this, too.

4. Figure out how low of a deductible you can afford. You’ll want to set this to an amount you can afford to pay in the event you need to file a claim due for loss or damage. 

5. Compare quotes from a Policygenius agent. Once you’ve nailed down your coverage needs, limits, and chosen a deductible, a Policygenius agent will walk you through quotes from a few different companies to help you find the best policy for your needs.

6. Sign the policy and pay your first premium. After you’ve chosen the policy you want, your Policygenius agent will complete all of the paperwork for you. The only thing left to do is sign the policy and pay your first premium.  

Methodology

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.