Winston-Salem has a metropolitan population of 680,876 and a mix of lifelong and new residents who want low living expenses. This city is filled with a rich history of Old Salem and a laid-back and simple lifestyle. They work at the corporate headquarters of companies like Krispy Kreme Doughnuts, Hanes, and Reynolds American. The younger residents come to Winston-Salem to attend Wake Forest University, a private university famous for its law, medical, and business schools. The university’s notable alumni include Maya Angelou, Senator Richard Burr, and Arnold Palmer. In their free time, residents love being in equal reach of the Atlantic Ocean to the east and the Smoky Mountains to the west. The opportunities for fun are endless. 

But the chance of experiencing extreme weather may outweigh all the pros of Winston-Salem living. There’s a high risk of hurricanes, tornadoes, and rain in this city. These intense storms leave properties at risk for costly property damage. How are you supposed to afford the cleanup and repair of such hazardous events? Winston-Salem home insurance is the answer. 

Insurify helps you find the best homeowners coverage based on your insurance needs in Winston-Salem, NC. Compare coverage options and get free quotes delivered to your email in a few minutes. Try it out now!

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How to Find Cheap Home Insurance in Winston-Salem

The Winston-Salem housing market is considered somewhat competitive. Many houses get multiple offers and sell above list price in around 23 days. Have you recently bought a home? Or are you searching for a new home? It would help if you were prepared for what a large financial investment you’re getting yourself into. And there are always risks involved with investments. Don’t worry, though. There are ways you can minimize risks and protect your investment. 

Homeowners insurance in Winston-Salem is the first step towards protecting your property and personal belongings from property damage and providing personal liability. You never know when your property could be hit by a natural disaster, theft, or vandalism. Depending on your location, home type, and other factors, there are coverage options for you.

Keep reading for a full guide on Winston-Salem home insurance

For general information on North Carolina home insurance, check our state guide to best North Carolina homeowners insurance. For more city-specific information, here are our guides to homeowners insurance for  Greensboro homeowners insurance, Durham homeowners insurance, Raleigh homeowners insurance, and Charlotte homeowners insurance.

Cheapest Home Insurance in Winston-Salem by Company

Homeowners insurance rates aren’t always designed with savings in mind. That’s where Insurify comes in. Our free home insurance comparison tool allows you to find the best policy for the best rate fast. And your information stays private and protected.

As of 2021, the average home insurance premium in the Winston-Salem area costs $1,463 annually, and the median home value is $165,277. 

Housing expenses in Winston-Salem are 32 percent lower than the national average. But utility prices are 11 percent higher than the national average. And the average yearly premium is lower than the national average and the average in North Carolina. It will all depend on a few factors. Where you live and which insurance company you choose matter. Every insurance agency prices differently, so you can expect to pay a different price with a company like State Farm than with Nationwide. To see the difference, you should compare the best insurance companies using our insurance comparison tool. Then, you can get your free home insurance quote delivered to your inbox. It’s that easy to use.

See below for the average cost of homeowners insurance in Winston-Salem, NC.

Average Home Cost in Winston-Salem Average Annual Insurance Premium in Winston-Salem
$165,277 $1,463

Cheapest ZIP Codes in Winston-Salem for Home Insurance

No city is priced the same when it comes to premiums. That means if you are living in Clemmons, you’ll be paying a different price on home insurance than your friends in Greensboro

Like property costs, home insurance varies in price from city to city. Pricing is determined by ZIP code–specific variables, such as the volume of claims filed nearby, crime rates, and property costs, and risk variables, such as natural disaster frequency. Even your specific neighborhood may determine if you pay more or less on your annual premiums. 

Rates in Winston-Salem can be relatively high or low compared to the national average; it all depends on which area you live in.

Best and Cheapest Winston-Salem Home Insurance

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Home Insurance Coverage Types in Winston-Salem

There are several types of home insurance. Specific terms of insurance policies may vary by city, but in general, the standard policy types are as follows:



  • The simplest and least comprehensive type of homeowners insurance
  • Provides coverage for a handful of potential problems, including
    • Dwelling coverage for damages from some natural disasters (storms, fires, wind, lightning, volcanic eruption), 
    • explosions, 
    • theft, 
    • damage from vehicles, 
    • or civil commotion. 

Broad Form

  • Broad form homeowners insurance policies include all basic form coverage, plus protection from:
    • falling objects, 
    • damage from the weight of ice, snow, or sleet, 
    • freezing of household systems including HVAC and pipes, 
    • sudden and accidental damage to pipes and other household systems from artificially generated electrical current, 
    • accidental discharge or overflow of water or steam,
    • sudden and accidental damage. 
  • HO-2 policies typically cover both dwelling protection and personal property.
  • In some cases, broad form coverage may also include liability coverage. However, it still only covers the specific damages listed in the policy.

Special Form

  • The most common form of homeowners insurance is known as a “special form” policy.
  • While HO-1 and HO-2 policies are “named peril” policies (meaning they only cover dangers that are specifically listed in the policy), HO-3 policies are “open peril” policies meaning they’ll cover all dangers except those specifically excluded in the policy documents.

Tenant’s Form

  • HO-4 policies, also known as renters insurance, are for people who lease rather than own their homes. 
  • Tenant’s form policies typically cover all the same dangers as HO-2 policies. 
  • These policies include personal property coverage and liability coverage but don’t cover the physical structure of the house. 
  • Some HO-4 policies may also include loss of use coverage for the tenants.


  • Comprehensive form policies are usually the broadest and provide the highest level of coverage; not surprisingly, they also tend to be the most expensive type of homeowners insurance policy.
  • The biggest difference between HO-3 and HO-5 policies is that most HO-3 policies are “actual cash value” policies, whereas typically HO-5 policies are “replacement cost value” policies.
  • An actual cash value policy will only reimburse you for the actual value of a damaged or destroyed item, while a replacement cost value policy will reimburse you for however much it would cost to completely replace or repair the damaged or destroyed item (up to the coverage limits on the policy). 
  • HO-5 policies also provide personal property coverage against a wider range of dangers than the typical HO-3 policy. Many HO-5 policies also have extra coverage for high-value personal property, such as jewelry and artwork.

Condo Form

  • Not surprisingly, condo form insurance is for condominium owners. HO-6 policies generally protect against the same types of dangers as HO-3 policies. 
  • They provide dwelling protection coverage with a twist: HO-6 policies cover the walls, floors, and ceiling of the condo unit but not the rest of the building. 
  • These policies also include personal property and liability coverage and may include loss of use coverage.

Mobile Home Form

  • If you own a mobile home or manufactured home, you likely have an HO-7 policy. 
  • Mobile home form policies are typically identical to HO-3 policies, except they’re designed specifically for mobile and manufactured homes.
  • Like HO-3 policies, they provide dwelling protection coverage, other structures coverage, personal property coverage, liability coverage, and possibly loss of use coverage as well. 
  • HO-7 policies generally only protect the home when it’s stationary; if you plan to move your mobile or manufactured home, you’ll need to get a special policy to cover it while it’s in transit.

Older Home

  • Older homes have generally been built to less stringent code standards than recently built homes, and so insurers have designed a specialized type of homeowners insurance policy for them. 
  • HO-8 policies often only cover the basic perils listed in HO-1 policies and generally apply to homes that are registered landmarks or otherwise deemed historic homes. 
  • Owners of registered landmarks are typically forbidden from making the updates to HVAC, electrical, and other parts of the home that would enable them to qualify for a standard HO-3 policy, so an HO-8 policy is often the only option for them.

Covered Events on Winston-Salem Home Insurance 

Natural disasters are unpredictable and can damage or destroy property over time or in an instant. Tornadoes, lightning strikes, floods, hurricanes, snow, and ice storms frequently happen in Winston-Salem. When these natural disasters hit, they cause power outages and disrupt food and water supplies. Covered events in Winston-Salem include fire from lightning, ice and snow, and wind damage. But flooding is not covered on a standard homeowners insurance policy

You likely live in a high-risk area for flooding. If so, you should purchase additional coverage for flooding. Having protection for the “what ifs” is way better than potentially paying thousands of dollars in water damage. Flood insurance is available through the National Flood Insurance Program provided by the Federal Emergency Management Agency (FEMA). Ask your insurance agent about flood insurance available in your area of Winston-Salem

How to Get the Best Winston-Salem Home Insurance Quotes 

Insurance carriers love when you purchase multiple insurance products like auto insurance, life insurance, and home insurance all in one. This way of purchasing multiple insurance products is known as bundling. And when you bundle, your insurance company will want to reward you with discounts and deals on the best homeowners insurance

Next, try to snag some lesser-known discounts and deals. Many people don’t know that you can get a discount on your home insurance for a variety of reasons. Are you recently married? There’s a discount for that. Did you install a monitored fire alarm in your home? You could get a discount for that. And are you a non-smoker? There’s a discount for that, too. Always research discounts before you buy—you’ll save even more!

The cherry on top of insurance savings is getting a free home insurance quote delivered to you. You can compare the best prices that go with your insurance needs. Once you’ve explored the possible deals, you want to go over your insurance options and compare homeowners insurance coverage. Just fill out your information and hit submit to get a free homeowners insurance quote in only a few minutes in Winston-Salem

Buying a house is stressful enough—don’t let insurance get in the way of enjoying your new home.

Frequently Asked Questions - Winston-Salem Homeowners Insurance

How does bundling with my home insurance policy work in Winston-Salem?

Bundling a homeowners insurance policy means that you’re adding multiple insurance products. You can combine products like home and car insurance under one insurance company. 

Do Winston-Salem insurance companies offer business insurance?

Plenty of large insurance companies and independent insurance agencies offer business insurance. Talk to your local agent to find out if your insurance carrier offers business insurance. 

Do I need flood insurance in Winston-Salem?

Since Winston-Salem is prone to hurricanes and flooding, it only makes sense to purchase flood insurance. You never know what could happen, so keep your property protected all the time with proper insurance. 

How to Find the Cheapest Home Insurance in Winston-Salem

Winston-Salem, North Carolina, is an affordable and comfortable place to live. You have the coast and the mountains within reach, a prestigious university, and a city steeped in history. But the beauty of history and nature comes at a price when natural disasters are around every corner. It’s best to stay as prepared as possible by having a home insurance policy based on your insurance needs

Use Insurify to compare home insurance premiums for your property in Winston-Salem.

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Updated June 4, 2021

Stephanie Shaykin is a seasoned writer and marketing professional with experience in real estate. With a true passion for brand storytelling and SEO, she breaks down the most complex copy into a pleasant experience for the reader. In her spare time, she enjoys creating art and cooking in her home base of Chicago, Illinois.