Wilmington, NC Homeowners Insurance

The city of Wilmington, NC is home to nearly 125,000 people. With its 39 distinct neighborhoods, Wilmington has something to offer everyone. If you own a house in this vibrant port city, you can protect your investment by purchasing a good homeowners insurance policy.

Independent agents are available to help you find the best policy to cover your Wilmington home. Because they are not tied to a particular insurance provider, these agents can obtain customized quotes from some of the best homeowners insurance companies in North Carolina.

When you are ready to begin your search for the right home insurance policy, contact an independent insurance agent near you.

How Much Does Homeowners Insurance Cost in Wilmington, NC?

Overall, homeowners insurance rates in North Carolina are lower than the national average. However, in the coastal city of Wilmington, severe weather risks are greater, and the average rate is therefore higher.

• National average yearly premium: $1,211
• North Carolina average yearly premium: $1,086
• Wilmington average yearly premium: $1,909

Your actual quoted costs will be based on several factors such as:

• Your home’s age, value, and size in square feet
• The type of home you are insuring (e.g., single-family detached house, condo, townhouse, vacation home, rental investment, etc.)
• The crime rate and weather risks in your ZIP code
• Your home’s proximity to the coast
• Your claims history and credit score
• Whether you are bundling your home insurance with other coverage like car insurance or boat insurance

Comparing customized quotes from a few different homeowners insurance providers lets you be sure you are choosing the policy that is offered at the most competitive price.

What Risks Does Homeowners Insurance Cover Your Property against in Wilmington, NC?

Your homeowners insurance policy can cover the cost to rebuild, repair, or replace your property if it is damaged or lost due to a covered event. Most homeowners insurance policies cover damage caused by:

• Fire, smoke, and firefighting efforts
• Property crimes like vandalism and burglary
• Severe weather events like thunderstorms, tornadoes, high winds, hail, hurricanes, and tropical storms (but not the flooding these storms may cause)

Your homeowners insurance policy will include coverage for the structure of your home (this is called dwelling insurance) and coverage for your personal property (this is called contents insurance).

You will want to be sure that your coverage limits in both categories are high enough to enable you to rebuild a house of comparable size and fully replace all of your property if you experience a total loss, such as if your house burns down or is leveled by the winds of a hurricane.

What about Flood Insurance in Wilmington, NC?

When hurricanes and tropical storms move along the Eastern Seaboard, they can bring heavy rains and storm surges to coastal cities. This can cause widespread flooding. Unfortunately, as too many homeowners learn only after it is too late, homeowners insurance does not cover flood damage.

In Wilmington, nearly 9,000 properties have a greater than 26% chance of sustaining significant flood damage over the next 30 years. That is more than 20% of all the homes and businesses in this city.

FEMA warns that just one inch of rainwater in your home can cause as much as $25,000 in property damage.

If your property is at risk, an independent agent can help you supplement your home insurance with an affordable flood insurance policy through the National Flood Insurance Program (NFIP), a program that is administered by FEMA.

These policies enable homeowners to affordably cover their property with up to $250,000 in dwelling coverage and up to $100,000 in contents coverage. Flood insurance takes 30 days to go into effect, so do not wait until a hurricane is brewing to purchase your policy.

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Why Is Loss of Use Insurance Important in Wilmington, NC?

If serious damage from a covered disaster like a windstorm or a structure fire leaves your home unsafe for habitation, loss of use insurance can help.

Loss of use insurance, which is a standard part of your home insurance, is designed to pay for your temporary living expenses while your house is being repaired. It can pay for things like:

• Hotel accommodations
• Meals
• Temporary storage
• Moving costs
• Pet boarding

Your coverage can continue until your house is brought back up to code and it is safe to return, or until you have built or purchased a new home.

How Does Homeowners Liability Insurance Protect Wilmington Property Owners?

Everyone makes mistakes. Sometimes, accidents, negligence, and errors in judgement can result in serious damage and, in turn, expensive lawsuits. That is why homeowners insurance companies provide their policyholders with a significant amount of personal liability coverage.

Homeowners liability insurance is designed to cover expenses like court costs, legal fees, mediation costs, settlements, and judgements if you or someone in your household is responsible for unintentional injuries, financial losses, property damage, or other harm to others.

Examples of situations where you might use your homeowners liability coverage include:

• If a guest is seriously injured in an accident on your property and it can be attributed to negligence on your part
• If you leave the gate open and your dog gets out and bites someone
• If you or your spouse are accused of libel or slander

If you have a lot to lose and want to have more liability coverage than your homeowners insurance policy can provide, you may want to also consider purchasing an umbrella insurance policy. Umbrella insurance is an affordable way to boost all of your personal liability coverage.

What Is the Burglary Rate in Wilmington, NC?

The burglary rate in North Carolina is significantly higher than the national rate, and in Wilmington, the risk is even greater. Residents of this city report around 900 burglaries a year.

• Number of burglaries per 1,000 homes in the US: 3.76
• Number of burglaries per 1,000 homes in North Carolina: 6.00
• Number of burglaries per 1,000 homes in Wilmington: 6.18

You can reduce your risk of a burglary by keeping doors and windows securely locked, keeping entryways well-lit and unobstructed, and even by getting a dog.

One of the most effective theft deterrents is having a security system installed in your home. That is why many insurance companies offer home insurance discounts to policyholders with burglar alarms.

It can be very stressful to discover that your house has been broken into and your valuables have been taken. You may, however, gain some comfort in knowing that your homeowners insurance can compensate you for your loss. You will need a copy of the police report when you file your claim.

How Can an Independent Insurance Agent in Wilmington, NC Help Find the Best Policy?

Independent insurance agents in Wilmington are ready to help you find the best and most affordable homeowners insurance policy. These experienced agents can answer your insurance-related questions and can help you be sure that your property is suitably covered by a reliable, yet competitively priced, policy.

Arrange an obligation-free consultation with an insurance agent near you to learn more. You will soon discover how easy it can be to review customized quotes from some of the best homeowners insurance companies in Wilmington, NC.