Home Insurance in Wake Forest, NC

We’re a new kind of digital insurance platform, designed to help you find the right policies – quickly and easily.
Compare, shop and customize quotes from top-rated insurance carriers.

Home Ownership in Wake Forest

Homes in Wake Forest represent a significant investment for residents, with a $334,344 median value of houses and condos, which is higher than the state average of $193,200. The area of Wake Forest is not at risk for earthquakes and the tornado risk is lower than the U.S. average. The crime index of Wake Forest is also lower than the North Carolina state average and the United States average. 

Home insurance provides peace of mind and protects the large investment that homeowners make in their dwelling place. VIU by HUB has the expertise to guide you in finding the best home insurance in Wake Forest, NC to meet your individual needs.

Why You Need Home Insurance in Wake Forest, North Carolina

Home insurance claims are filed by about 5% of homeowners each year, with an average payout of nearly $9,000 per claim. If you don't have cash savings to cover a catastrophic loss to your home, you should definitely be covered by a policy that will help you if disaster strikes. Here are the top reasons why you need home insurance in Wake Forest, NC:

  • Property Damage: Your home is likely the biggest investment you will ever make. A homeowners insurance policy provides security and assists in paying for damages to your property in case of catastrophe. If your home becomes inhabitable after a storm, your policy will help cover temporary living expenses. 
  • Liability Claims: If someone sustains an injury on your property, your homeowner policy will protect you from liability. The coverage also applies to accidents that occur away from the home. Your policy protection takes care of applicable legal and medical fees for the injured person as well as lost wages if work is missed due to the accident.
  • Personal Items: In addition to the home itself, your homeowner policy will cover the items inside, including electronics, appliances, furniture, clothing, etc. It's helpful to keep a record of expensive items, such as jewelry or appliances, to assist in filing a claim in case of a loss. If you have a lot of expensive items, you may consider obtaining a rider to ensure you don't exceed policy limits.
  • Lender Requirements: The state of North Carolina does not require homeowners insurance, but your mortgage lender does. Minimum coverages are determined by the cost of replacing the home.
  • Theft Protection: Homeowners insurance protects you in case someone breaks into your house. This coverage will take care of replacing the contents stolen and repairing any resulting damage. Your policy will also protect your belongings if they are stolen from somewhere other than your home.

Factors That Impact Home Insurance Premiums

Insurance companies always take into account potential risks when calculating policy rates. While some of the factors that go into the determination of premiums are under your control, some of them are outside your ability to manage. Here are some of the factors that determine home insurance in Wake Forest:

  • Location: Insurance premiums may be affected by your area's weather, crime rates, proximity to fire-prone spots, and proximity to fire stations.
  • History of claims: If you have a history of filing claims, your house has a number of claims filed on it, or even if your area has a high rate of insurance claims, your home insurance in Wake Forest may carry higher premiums.
  • Credit: The state of Connecticut allows insurance companies to review credit scores when determining initial insurability and setting initial rates, but does not allow insurers to use credit history when renewing a policy.
  • Age of home: Older homes will generally have higher premiums because of increased risk of fire and plumbing problems. 
  • Attractive nuisances: Property additions such as pools, trampolines or tree houses are considered "attractive nuisances" by insurance companies.

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.