Home Insurance in Charlotte, NC

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Home Ownership in Charlotte

Residents of Charlotte, North Carolina, have a significant amount of money invested in their homes, with a $319,335 median value of houses, significantly higher than the state average of $193,200. Charlotte is at a low risk for earthquakes, but the tornado risk in the area is higher than the state average in North Carolina and the United States as a whole. The crime index of Charlotte is 4,665 crimes per 100,000 individuals. While this may seem high, most of the crime is concentrated in a few specific areas within the city. 

Home insurance is a necessary expense that not only provides peace of mind but also protects the largest investment you will likely make in your life: your home. VIU by HUB is ready to assist you in finding sufficient home insurance in Charlotte to meet your specific needs.

Why You Need Home Insurance in Charlotte, NC

One in twenty homeowners file homeowners insurance claims each year, with the average claim paying approximately $9,000. Claims are commonly filed for damage resulting from wind, hail, water, theft, and fire. While your odds of suffering a loss from any of those things are probably low, you definitely want to be protected should the worst case happen. Here are some important reasons why you need home insurance in Charlotte, NC:

  • Damage to property: Houses in Charlotte are not cheap, and your purchase of a home is probably the biggest investment of your life. The security of a homeowners policy is priceless, as it pays for damages to your property and covers living expenses if your home should become inhabitable following a disaster.
  • Loss of personal items: Your homeowners policy covers items inside your home as well as the structure itself. This means that personal belongings such as clothing, furniture, electronics, and appliances will be protected in the event they are damaged, destroyed, or lost due to a disaster or theft.
  • Liability Claims: In the event that someone is injured on your property, you will be protected by your homeowners policy, which covers medical and legal expenses as well as lost wages. In addition, your coverage takes care of losses due to accidents that occur outside the home. 
  • Protection Against Theft: If someone breaks into your house, home insurance in Charlotte will cover the value of belongings that are stolen in addition to any destruction that occurs in the process. If your items are stolen from somewhere other than your house, your homeowners policy will cover the loss as well.
  • Lender Requirements: Homeowners insurance is not required by the state of North Carolina, but it is required by your mortgage lender. The cost of replacement is the determining factor in setting minimum policy amounts. 

Factors That Impact Home Insurance Premiums

There are a number of factors at play in determining the cost of home insurance. Here are some of the factors that decide the premiums for your home insurance in Charlotte, North Carolina:

  • Where you live is a large factor in setting insurance premiums. Costs are higher in coastal areas, cities, crime-ridden areas, and locations with a high fire risk.
  • Higher-priced houses are more expensive to insure. Other factors related to construction include the style of the house, whether it was custom built, and special features that are included in or around the structure.
  • The age and condition of the house play a role in costs. Older homes are more expensive to insure, as are homes with maintenance issues such as roofing problems or plumbing needs.

This information is intended for general informational purposes only and is not intended to constitute legal advice.

Home insurance in North Carolina by city

Understand risks, minimum state coverage requirements, average costs and other specifics that can impact home insurance policies and premium rates in your city.