How much is homeowners insurance in Greensboro, NC

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As per Insure.com’s rate data analysis, the average cost of homeowners insurance in Greensboro is $2,206 per year (for the coverage level of $300,000 for dwelling, $100,000 for liability protection and $1000 deductible), It’s $298 less than the national average of $2,504.

Homeowners insurance rates differ significantly from one home to another. Home insurance rates in Greensboro depend on several factors, including:

• Size of your home
• Age of your home
• Amount of coverage you need
• Location
• Your credit score

State Farm is the cheapest homeowners insurance company in Greensboro with an average annual premium of $775 per year.

This guide covers everything from available coverage options to companies with the cheapest homeowners insurance rates in Greensboro. Keep reading to learn about the monthly cost of homeowners insurance in Greensboro, the cost for different dwelling coverage levels, and discover which companies provide the most affordable home insurance in Greensboro.

How much is homeowners insurance in Greensboro per month

Residents of Greensboro pay an average of $184 a month for homeowners insurance, as per Insure.com’s rate analysis. It’s $60 less than the state average of $244 and $25 less than the national average for home insurance across the United States.

The cost of your homeowners insurance policy in Greensboro may change based on location, property value, and selected coverage options.

How much is homeowners insurance for a $200,000 house in Greensboro

In Greensboro, NC, homeowners pay an average of $1,441 annually for a $200,000 house. The amount you pay for home insurance each year depends on factors such as – natural disasters or events within your locality.

Some regions are more at risk for natural disasters, like floods, hurricanes, or tornadoes, implying higher rebuilding rates in these areas are higher, resulting in higher insurance premiums. It’s essential to note that your insurance policy might not cover damages caused by floods or hurricanes. If you reside in an area prone to flooding, consider buying flood insurance.

How much is homeowners insurance for a $300,000 house in Greensboro

As per rate analysis by Insure.com, homeowners residing in Greensboro typically pay an average of $2,206 annually to insure a home for coverage limits of $300,000 dwelling, $100,000 liability protection with a $1,000 deductible.

Your home insurance rates will be increased by $765 if you increase your dwelling coverage from $200,000 to $300,000. It is advisable to buy enough insurance sufficient insurance to cover the entire cost of rebuilding your home. However, the amount of dwelling coverage you need may vary depending on the size of your home, the features in your home, and the cost of living in your area.

How much is homeowners insurance in Greensboro by company

Among the carriers analyzed, State Farm is the most affordable homeowners insurance company in Greensboro. It’s average annual rate for homeowners in Greensboro is $775, while North Carolina Farm Bureau ranks second.

Research on the company is essential before selecting a homeowners insurance policy. Insure.com has thoroughly examined all insurance companies operating in Greensboro and compiled a list of the most affordable home insurance companies.

Below are details of Greensboro home insurance companies and their average annual premiums.

Common natural disasters in North Carolina that may affect home insurance

Living in North Carolina comes with its unique challenges, particularly when it comes to the risk of natural disasters. These events can cause significant damage to homes and property, leading to potential insurance claims. Understanding which natural disasters are common in your area can help you make an informed decision when choosing your home insurance policy.

Ice storm and Winter weather are some of the common natural disasters in North Carolina that may affect your home insurance rates.

How home insurance protects you against natural disasters

Home insurance plays a crucial role in protecting your home and belongings in case of natural disasters. Events such as hurricanes, floods, earthquakes and wildfires can cause significant damage, and home insurance helps by covering the costs of repairs or replacement of your property. Depending on your policy, it may also provide coverage for temporary living expenses if your home becomes uninhabitable.

In addition to physical damage, home insurance typically covers liability costs if someone is injured on your property. This added protection gives homeowners peace of mind, knowing they have financial support during difficult times.

A standard home insurance policy may not cover all-natural disasters. Review your policy carefully to ensure you’re covered for the specific risks.

Methodology

Insure.com, with the help of Quadrant Information Services, gathered data for homeowners insurance rates in Greensboro for $300,000 dwelling coverage and $100,000 liability coverage with a $1,000 deductible. The data presented are those with a good credit tier alignment.

Shivani Gite

Contributing Writer

 

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Shivani Gite is a personal finance and insurance writer with a degree in journalism and mass communication. She is passionate about making insurance topics easy to understand for people and helping them make better financial decisions.

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