- Best condo insurance companies in North Carolina
- Average condo insurance cost in North Carolina
- Condo insurance rates in North Carolina by company and coverage level
- Condo insurance rates by company in North Carolina
- Compare condo insurance rates by city in North Carolina
- Methodology
- FAQ
- Compare North Carolina condo insurance rates with other states
Best condo insurance companies in North Carolina
There are many companies offering condo insurance coverage in North Carolina. State Farm is the best condo insurance company in North Carolina based on our analysis. Our insurance experts reviewed prices and ratings from trusted sources like the National Association of Insurance Commissioners (NAIC) and AM Best.
Based on our research, here are the best condo insurance companies in North Carolina.
| Company | Annual annual premium | AM Best | NAIC | Insurance.com rating |
|---|---|---|---|---|
| State Farm | $533 | A+ | 1.15 | |
| North Carolina Farm Bureau | $478 | A- | 0.46 | |
| Erie Insurance | $1,063 | A | 0.46 | |
| Nationwide | $2,507 | A | 1.34 | |
| USAA | $740 | A++ | 0.46 |
Average condo insurance cost in North Carolina
The average cost of condo insurance in North Carolina is $874 per year or $73 per month for $60,000 in personal property coverage, $300,000 in liability coverage and a $1,000 deductible. Your actual annual premium will vary depending on:
- Where you live
- Coverage limits and deductible
- Age of the building and construction materials
- Your claims history and credit score
To find the cheapest company for you, compare quotes from multiple insurance providers and choose the coverage that fits your needs.
| Average annual premium | $874 |
| Average monthly premium | $73 |
Condo insurance rates in North Carolina by company and coverage level
North Carolina Farm Bureau provides the lowest condo insurance rates in North Carolina for policies with limits of $60,000 in personal property coverage and $300,000 in liability coverage with a $1,000 deductible.
The second most affordable option is State Farm at $533 per year. However, prices will vary depending on the coverage level you choose.
The table below shows condo insurance rates from top companies at different coverage levels.
| Company | $40,000 contents/$100,000 liability | $40,000 contents/$300,000 liability | $60,000 contents/$100,000 liability | $60,000 contents/$300,000 liability | $80,000 contents/$100,000 liability | $80,000 contents/$300,000 liability | $100,000 contents/$100,000 liability | $100,000 contents/$300,000 liability |
|---|---|---|---|---|---|---|---|---|
| North Carolina Farm Bureau | $386 | $395 | $470 | $478 | $551 | $559 | $634 | $641 |
| State Farm | $410 | $419 | $525 | $533 | $628 | $636 | $729 | $737 |
| Allstate | $727 | $736 | $929 | $939 | $1,131 | $1,140 | $1,335 | $1,344 |
| Erie Insurance | $861 | $874 | $1,097 | $1,110 | $1,402 | $1,415 | $1,707 | $1,720 |
| Nationwide | $1,491 | $1,500 | $1,843 | $1,852 | $2,123 | $2,132 | $2,405 | $2,414 |
| USAA | $567 | $576 | $731 | $740 | $874 | $882 | $1,016 | $1,025 |
Condo insurance rates by company in North Carolina
The cheapest option is North Carolina Farm Bureau, followed by State Farm and Allstate as the second and third most affordable choices. However, condo insurance rates in North Carolina vary by company, so it's a good idea to shop around and compare quotes.
The table below shows condo insurance rates from major companies in North Carolina.
| Company | Average annual premium | Average monthly premium |
|---|---|---|
| North Carolina Farm Bureau | $478 | $40 |
| State Farm | $533 | $44 |
| Allstate | $939 | $78 |
| Erie Insurance | $1,110 | $93 |
| Nationwide | $1,852 | $154 |
| USAA | $740 | $62 |
Compare condo insurance rates by city in North Carolina
Condo insurance rates in North Carolina vary by city, with factors such as weather and crime rates influencing pricing. To find the most affordable and reliable condo insurance in your city, take these factors into account and compare quotes from multiple insurance companies.
City Annual insurance premium
Methodology
Insurance.com compared condo insurance rates provided by Quadrant Information Services across all 50 states and Washington, D.C.
Average condo insurance rates are based on:
- $60,000 in personal property coverage
- $300,000 in liability coverage
- $1,000 deductible
- Good credit
Rates were also fielded at varying personal property and liability coverage levels for comparison.
FAQ
Is condo insurance required in North Carolina?
No, condo insurance is not require by law in North Carolina, but your mortgage company will require it.
What does condo insurance typically cover in North Carolina?
Condo insurance covers your personal property, the interior of your unit, loss of use and personal liability.
How can I lower my condo insurance premium in North Carolina?
To lower your rates, shop around, ask about discounts and bundle your condo and auto insurance.
