Home Insurance in Chapel Hill, NC
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Get the Best Coverage from Your Home Insurance in Chapel Hill, NC
If you love nature, historical architecture and music, Chapel Hill is a great place to call home. Home values are trending up, and median house prices are above average for NC, so purchasing a house is a good investment. Whether your new home is located on a half-acre lot in funky, artsy Carrboro or a historic house near the university, you want to protect your home with the right home insurance in Chapel Hill, NC.
Know Your Risks in Chapel Hill
Chapel Hill is far enough away from the coast that it is not at risk of a direct hurricane hit, but it can still experience significant weather when a hurricane strikes the coast. The state has had 55 hurricanes since 1951. It ranks number three on the list of states most susceptible to hurricanes. Orange County has experienced natural disasters from both hurricanes and winter weather. When you purchase a house in the area, make sure you know what risks you face, including:
- Flooding: Heavy rains and the terrain both contribute to significant flood risks in Chapel Hill. Find out if your home is located in a flood-prone area of the city.
- Strong winds: Hurricanes, severe thunderstorms and tornadoes are all possible in this area. These systems come with strong winds that can cause significant structural damage.
- Freezing temperatures: Freezing temperatures and ice storms can occur here. When the mercury dips below 32 degrees Fahrenheit, water pipes may freeze and burst.
- Fire: No one wants to think about what would happen if they had a house fire, but it is a significant consideration when purchasing home insurance in Chapel Hill. Even a kitchen fire can cause significant fire and smoke damage.
- Theft and vandalism: Property crime rates are trending down in the city, but they still occur. You may want to consider an alarm system, which can save you money on your insurance.
- Earthquakes: Chapel Hill is at a higher risk for earthquakes than other parts of the state. The city’s most recent experience was a 5.1-magnitude quake located 120 miles from the city center.
Legally, you are not required to carry home insurance in Chapel Hill, North Carolina, but if you have a mortgage on your home, your provider most likely requires it. Make sure you get the coverage you need for the risks you face.
Understand Your Coverage
Though most insurance providers offer similar coverages, there are differences between them in policy limits, options, deductibles and premiums. A VIU by HUB broker can help you find a policy that meets your requirements. A standard policy should at least provide coverage for damage to the exterior and interior of your home from wind, hail, smoke and fire, theft and vandalism.
Your home insurance Chapel Hill policy should provide for your home’s replacement value when a total loss occurs. A comprehensive policy typically covers personal possessions in your home to an extent. Check your policy for liability protection for injuries and third-party property damage.
Consideration Additional Coverage Options
A comprehensive home insurance Chapel Hill policy does not cover you for every peril you may face in this region of NC. Flood and hurricane damages are not provided for in a standard policy. Talk to your broker about adding a named risk policy to ensure your home is protected from these risks.
Review how much personal property coverage your policy provides for. Typically, comprehensive insurance offers replacement value for your possessions for between 20% and 50% of the policy limits for your house. If you need more than this, your VIU by HUB broker can help you procure sufficient coverage.
This information is intended for general informational purposes only and is not intended to constitute legal advice.