Best Raleigh Homeowners Insurance Quotes (2024)

State Farm offers some of the cheapest homeowners insurance policies in Raleigh, with average annual premiums of $764.

Jess Ullrich
Written byJess Ullrich
Jess Ullrich
Jess UllrichInsurance Writer
  • 10+ years writing insurance and personal finance topics

  • Former associate finance editor for Investopedia

Jess is a subject matter expert in insurance, banking, and other personal finance topics. Her byline has appeared in numerous top web media, including Investopedia.

Featured in

media logomedia logo
Ashley Cox
Edited byAshley Cox
Headshot of Managing Editor Ashley Cox
Ashley CoxSenior Managing Editor
  • 7+ years in content creation and management

  • 5+ years in insurance and personal finance content

Ashley is a seasoned personal finance editor who’s produced a variety of digital content, including insurance, credit cards, mortgages, and consumer lending products.

Featured in

media logomedia logomedia logomedia logo

Updated August 7, 2024

Save up to $852 by comparing quotes from the top 100+ insurance companies

Excellent
Secure. Free. Easy-to-use.
ProgressiveLiberty MutualAllstate
Advertiser Disclosure

At Insurify, our goal is to help customers compare insurance products and find the best policy for them. We strive to provide open, honest, and unbiased information about the insurance products and services we review. Our hard-working team of data analysts, insurance experts, insurance agents, editors and writers, has put in thousands of hours of research to create the content found on our site.

We do receive compensation when a sale or referral occurs from many of the insurance providers and marketing partners on our site. That may impact which products we display and where they appear on our site. But it does not influence our meticulously researched editorial content, what we write about, or any reviews or recommendations we may make. We do not guarantee favorable reviews or any coverage at all in exchange for compensation.

Why you can trust Insurify: Comparing accurate insurance quotes should never put you at risk of spam. We earn an agent commission only if you buy a policy based on our quotes. Our editorial team follows a rigorous set of editorial standards and operates independently from our insurance partners. Learn more.

Raleigh, the bustling state capital of North Carolina, is home to many museums, restaurants, and other attractions. It’s also the second-most-populated city in North Carolina.

Homeowners in Raleigh pay an average of $2,264 for a $300,000 home insurance policy with a $1,000 deductible — slightly higher than the state average of $2,110.

If you’re considering buying a home in Raleigh, understanding the market and the cost of home insurance is important. While Raleigh is inland enough that strong hurricanes rarely affect it, the city is prone to tropical storms.

Here’s what you should know about comparing home insurance quotes and finding affordable coverage in Raleigh.

Quick Facts
  • State Farm, Bankers Insurance Group, and Encompass are some of the cheapest home insurance companies in Raleigh.

  • Hurricanes rarely affect Raleigh, but tropical storms, severe thunderstorms, and hail are relatively common. Standard home insurance policies cover damage from thunderstorms and hail.

  • Homeowners insurance in Raleigh costs slightly less than the national average of $2,377.

Best home insurance companies in Raleigh

Fortunately, you’ve got many options for a homeowners insurance policy in Raleigh, as several insurance companies serve the area. The best homeowners insurance for you won’t necessarily be the cheapest, so keep that in mind as you compare quotes.

Insurance Company
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
Average Annual Premium
Best For
State Farm8.2$764Cheapest rates
EncompassNR$1,252Bundling
North Carolina Farm BureauNR$1,612Local advocacy
Travelers7.8$1,684Discounts
  • Our editorial team spent more than 350 hours developing the Insurify Quality (IQ) Score and scoring insurance companies. The IQ Score objectively analyzes and calculates a score for insurers using more than 15 crucial criteria. The team weighted criteria by importance to the consumer — factors such as customer reviews and affordability influence the score more than availability and third-party ratings.

    We rate each company on a 1 to 10 scale based on five categories: financial ratings, customer satisfaction, affordability, customer support and transparency, and availability. Insurify updates ratings once a year or as more recent information becomes available.

    • Third-party financial ratings: Insurify uses data from AM Best, S&P, Moody’s, and more to compare insurance companies’ credit and ability to pay out future claims.
    • Customer satisfaction: To calculate this score, Insurify analyzed more than 28,000 customer reviews across 155 car insurance companies. We also consider third-party ratings from J.D. Power, the National Association of Insurance Commissioners, and Trustpilot.
    • Affordability: Our data scientists analyzed more than 90 million real-time auto insurance rates from our partners across the U.S., as well as available discounts, to calculate an affordability score.
    • Customer support and transparency: This measures coverage options, ease of claims filing, and the insurer's transparency surrounding discounts, coverages, and claims process.
    • Availability and reach: Insurify scores availability and reach by identifying the number of states in which insurers offer coverage and company size by market share.

Cheapest rates: State Farm

Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
9.3/10
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
842
$300,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$64/mo
$500,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$83/mo

While home insurance in Raleigh is slightly higher priced than the North Carolina average, State Farm delivers with relatively cheap rates. On average, homeowners in Raleigh with a policy from this insurance company pay around $764 annually for coverage.

Besides its cheap rates, State Farm also offers several discounts for Raleigh homeowners, including bundling discounts and home security discounts.

Pros
  • Several available discounts

  • Highly rated for customer satisfaction by J.D. Power

Cons
  • Higher-than-average number of customer complaints with the National Association of Insurance Commissioners (NAIC)

  • Majority of Trustpilot customer reviews are poor

Best insurer for bundling: Encompass

Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
NR
$300,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$104/mo
$500,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$154/mo

Bundling your policies with one insurance company can be a convenient cost-saver. While many insurers offer the opportunity to bundle coverage, Encompass takes bundling to the next level with its EncompassOne policy.

Instead of purchasing homeowners insurance and auto insurance individually and then bundling after the fact, both coverages are already bundled with EncompassOne. This convenience sets Encompass apart from competitors and makes it a good option for people moving from another state to Raleigh who need both home and auto insurance coverage.

Pros
  • Convenient, customizable bundling option

  • Relatively cheap rates

Cons
  • Not ranked for customer satisfaction by J.D. Power

  • Very few customer reviews on Trustpilot

Best insurer for local advocacy: North Carolina Farm Bureau

North Carolina Farm Bureau has been supporting farmers and the local community since its founding in 1953. Not only does this insurance company offer multiple coverages and relatively affordable rates, but its many advocacy programs help farmers and other rural residents.

If you’re interested in purchasing insurance from a company that gives back to the broader state, North Carolina Farm Bureau could be a good option. It offers homeowners insurance, auto insurance, renters insurance, and many other insurance products designed to protect its policyholders.

Pros
  • Exclusive member benefits available

  • Several available insurance products

Cons
  • Must be a member to purchase insurance

  • Membership costs $25 per year

Best insurer for discounts: Travelers

Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
9.0/10
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
829
$300,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$132/mo
$500,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$203/mo

Travelers doesn’t offer the cheapest rates for Raleigh homeowners. But it has a decent amount of discounts you can take advantage of, including a new homebuyer discount. This discount lets you save on your insurance if you’ve purchased a new home in the past 12 months.

Besides its new-homebuyer discount, policyholders can get a loss-free discount, multi-policy discount, green-home discount, and a protective device discount.

Pros
  • Offers several discounts that could lower your insurance rates

  • Very few NAIC customer complaints

Cons
  • Not the cheapest rates

  • Below-average J.D. Power customer satisfaction rating

Find Cheap Home Insurance in Raleigh

Compare quotes from the top 100+ insurance companies

Secure. Free. Easy-to-use.
Based on 3,806+ reviews
4.8/5
Shopper Approved
ProgressiveLiberty MutualAllstate

Cheapest home insurance in Raleigh

State Farm offers the cheapest home insurance for Raleigh homeowners, with average annual homeowners insurance policies of $764 per year. 

Below are some of the cheapest home insurance companies in Raleigh and their average rates.

Insurance Company
Average Annual Premium
State Farm$764
Bankers Insurance Group$1,188
Encompass$1,252
Lititz Mutual Group$1,612
North Carolina Farm Bureau$1,612
Travelers$1,684
Erie$2,154
Allstate$2,175
Auto-Owners$2,346

Cost of homeowners insurance in Raleigh

The average cost of home insurance in Raleigh is $2,264 annually for a policy with $300,000 in dwelling coverage and a $1,000 deductible. But many factors affect your insurance rates. Insurance companies consider your home’s age, exact location, security and structural features, your past claims, your chosen deductible and coverage needs, and your credit history when calculating your premiums.[1]

Different insurance companies also offer different rates, which is why it’s essential to shop around for coverage if you’re a Raleigh homeowner.

Cost of homeowners insurance by dwelling coverage amount

A higher amount of homeowners insurance coverage comes with a higher price tag, which makes sense because you’re getting more protection. In general, your dwelling coverage, which protects your home’s structure in the event of a natural disaster or other incident, should equal your home’s replacement value.

Here’s a look at how dwelling coverage limits could affect your premiums in the state of North Carolina. Rates shown are for policies with a $1,000 deductible.

Coverage Limit
Average Annual Premium
$100,000$1,069
$200,000$1,592
$300,000$2,110
$400,000$2,670
$500,000$3,196

Cost of homeowners insurance by deductible

In general, your rates will be lower if you opt for a higher home insurance deductible, or the amount you’ll pay out of pocket before your insurer pays out. This is typically true whether you live in Raleigh or any other location in the U.S. While a higher deductible could lower your home insurance rates, be sure you can afford the deductible you choose in case you need to file a claim. 

Here’s how deductible amounts affect the average cost of homeowners insurance for policies with $300,000 in dwelling coverage in Raleigh.

Deductible Amount
Average Annual Premium
$500$2,171
$1,000$2,110

How to get cheap homeowners insurance in Raleigh

While home insurance might be slightly more expensive in Raleigh compared to the rest of North Carolina, it’s still possible to find relatively cheap coverage. Here are a few strategies that could help you save on a homeowners policy if you live in the North Carolina state capital:[2]

  • Shop around. Insurance rates aren’t standard across companies, which is why it’s essential to get multiple home insurance quotes. You might find that one insurance company offers much cheaper rates than another for similar coverage.

  • Install home safety features. Many insurers will reduce your homeowners insurance premiums if you install certain safety and security features. It’s common to get discounts for adding smoke detectors, burglar alarms, sprinkler systems, and more. Some home safety features are relatively cheap and could save you money on your home insurance in the long term.

  • Ask about discounts. While certain insurance companies may be forthcoming with discounts, others may not. Do your due diligence and ask which discounts are applicable to you. Taking advantage of available discounts might reduce your premiums by a fairly significant amount.

Read More: Best Home Insurance Discounts and How to Get Them

Read More: Best Home Insurance Discounts and How to Get Them

North Carolina homeowners insurance rates by city

Raleigh has fairly high rates, on average, compared to many other North Carolina cities. Things like local population, crime rates, and proximity to public services can affect premiums, so rates may also vary within different ZIP codes in the same city. People in coastal North Carolina might also pay higher homeowners insurance rates, as hurricanes are more likely to make landfall along the coast.

Here’s a look at how average insurance premiums vary across cities in North Carolina for policies with $300,000 in dwelling coverage.

City
Average Annual Premium
Cary$2,267
Charlotte$1,984
Concord$1,999
Fayetteville$3,009
Greensboro$1,848
Wake Forest$1,966

How much homeowners insurance do you need in Raleigh?

Chances are if you’re buying a home in Raleigh, you’re probably taking out a mortgage. If that’s the case, your mortgage lender will require you to get homeowners insurance as a condition of your loan. This ensures your home (and its collateral) has protection in case something damages or destroys it.

In general, your dwelling coverage should be enough to replace your home if a fire or another covered incident destroys it. You’ll also want personal property coverage to replace your personal items if there is damage or theft. The amount of coverage you need depends on your individual situation. For example, if you have several expensive personal belongings and have concerns about theft, you might opt for more coverage.

But no matter how much coverage you get, it’s essential to understand what your home insurance policy covers and any potential exclusions. Reading over your policy will offer insight into how it protects your most valuable investment.

Shop for Raleigh Home Insurance

See personalized quotes from Insurify partners in minutes

Secure. Free. Easy-to-use.
Based on 3,806+ reviews
4.8/5
Shopper Approved
ProgressiveLiberty MutualAllstate

What are some of the biggest risks when owning a home in Raleigh?

Approximately 18 hurricanes and tropical storms have affected North Carolina in the last 20 years.[3] Hurricanes rarely affect Raleigh because it’s far enough inland. But the city isn’t immune to all risks, so homebuyers should be aware of potential issues.

Here are a few common perils that could affect your home in Raleigh:

  • illustration card https://a.storyblok.com/f/162273/x/68ed522f01/windstorm-and-hail.svg

    Wind

    Hurricanes might not affect you, but tropical storms could. These storms can have sustained winds of up to 73 mph, which could damage your home’s roof and siding. Most standard homeowners policies cover wind damage.

  • illustration card https://a.storyblok.com/f/162273/150x150/0194b78427/weather-96x96-orange_043-flood.svg

    Hail

    Hail is another concern when a tropical storm rolls through. Severe hail could damage your roof, siding, and potentially break windows. A standard home insurance policy should protect you from property damage due to hail.

  • illustration card https://a.storyblok.com/f/162273/150x150/bc1c474c28/weather-96x96-yellow_045-thunder.svg

    Severe thunderstorms

    Thunderstorms can happen alongside tropical storms or independently. If lightning strikes your home during a severe thunderstorm, you’re likely protected. But if your home floods due to heavy rains, you’d need to have a separate flood insurance policy in place to cover the damage.

Raleigh homeowners insurance FAQs

If you’re shopping for a home insurance policy in Raleigh, this additional information may help as you research your coverage options.

  • How much is home insurance in Raleigh?

    Home insurance in Raleigh costs $2,110 per year for a policy with $300,000 in dwelling coverage and a $1,000 deductible, according to Insurify data. But your rates will vary depending on many factors, including your ZIP code, age of your home, square footage of your home, and the types of coverage you choose.

  • Which company has the cheapest homeowners insurance in Raleigh?

    State Farm has the cheapest homeowners insurance Raleigh, with annual premiums of $764. Bankers Insurance Group and Encompass also have affordable coverage in the city, with respective annual premiums of $1,188 and $1,252.

  • Does Raleigh require homeowners insurance?

    No. Raleigh doesn’t require homeowners insurance, but your lender will require it if you have a mortgage on your home.

    Even if you don’t have a mortgage, home insurance is essential because it protects you financially if something damages or destroys your home and you have to make costly repairs.

  • What is the best insurance company in North Carolina?

    With above-average J.D. Power customer satisfaction ratings, an Insurify Quality (IQ) Score of 8.2 out of 10, and competitive rates, State Farm is one of the best insurance companies in North Carolina. Other top insurers include North Carolina Farm Bureau and Travelers.

Sources

  1. National Association of Insurance Commissioners. "A Consumer's Guide to Home Insurance."
  2. Insurance Information Institute. "How to save money on your homeowners insurance."
  3. ReadyNC.gov. "Hurricanes."
Jess Ullrich
Jess UllrichInsurance Writer

Jess is a personal finance writer who's been creating financial and business content for over a decade. Her work is published on Investopedia, MoneyWise, NextAdvisor, The HuffPost, and more. Prior to freelancing full-time, Jess was an editor at Investopedia, The Balance, and FinanceBuzz. Connect with her on LinkedIn.

Ashley Cox
Edited byAshley CoxSenior Managing Editor
Headshot of Managing Editor Ashley Cox
Ashley CoxSenior Managing Editor
  • 7+ years in content creation and management

  • 5+ years in insurance and personal finance content

Ashley is a seasoned personal finance editor who’s produced a variety of digital content, including insurance, credit cards, mortgages, and consumer lending products.

Featured in

media logomedia logomedia logomedia logo

Compare Home Insurance Quotes Instantly

Secure. Free. Easy-to-use.
Based on 3,806+ reviews
4.8/5
Shopper Approved
ProgressiveLiberty MutualAllstate

Latest Articles

View all