HomeInsuranceQts

Home Insurance in North Carolina

North Carolina's median home value is $288,900.

Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. The typical home in North Carolina was built around 1991. About 14% of homes were built before 1960.

In North Carolina, the housing stock is 70% single-family homes, 14% apartments in buildings with 5+ units and 11% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.

61% of owner-occupied homes in North Carolina carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.

North Carolina has an owner-occupancy rate of 67% and a vacancy rate of 13%; unoccupied homes typically need a different coverage form.

Most homes in North Carolina - 65% - are primarily heated with electricity. Homes heated with propane can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.

According to the NAIC homeowners insurance report (2023 data), a standard HO-3 homeowners policy in North Carolina carries a statewide average premium of $1,852 per year.

Key figures

Median home value$288,900
Median year built1991
Owner-occupied share67%
Share of owner-occupied homes with a mortgage61%
Home insurance premium$1,852 - statewide average (NAIC, 2023 data)

Counties

Sources