The Best Cheap Homeowners Insurance in Wilmington, North Carolina for 2024: Quotes and Reviews

When buying homeowners insurance in Wilmington, cost should be an important consideration since most companies offer similar core coverages.

The cheapest home insurance companies in Wilmington for policies with $250,000 in dwelling coverage are:

• State Farm: $2,807 per year
• Universal North America: $3,184 per year

If you are looking for affordable home insurance quotes in Wilmington for an expensive home, the cheapest options for home insurance with $2,000,000 in dwelling coverage are:

• State Farm: $14,678 per year
• Universal North America: $17,116 per year

You can toggle the table below to see how home insurance rates vary for different dwelling coverage limits.

For this study, policies with the initial baseline dwelling coverage of $250,000 have personal property limits of $100,000 and policies with dwelling coverage of $2 million have personal property limits of $800,000. All policies offer $100,000 in liability coverage.

If you live elsewhere in the state, you can look up average homeowners insurance rates for North Carolina.

The cost of home insurance in Wilmington averages $6,565 per year, significantly higher than home insurance cost for the state, which averages $1,498. Home insurance rates in Wilmington are also higher than the average national home insurance rate of $2,103 per year.

Home insurance quotes in Wilmington can vary depending on your location, the dwelling coverage limit you need, the value of personal property to be covered and your credit score. MoneyGeek’s home insurance calculator can help you compare home insurance quotes in your state based on these rating factors.

Cost should not be the only factor you consider when shopping for the best homeowners insurance in Wilmington. You should also look at the Insurer’s customer service experience and financial stability ratings. This will help you identify an insurance company that will handle your claim promptly and fairly if you need to file one.

Based on MoneyGeek’s analysis, the best homeowners insurance companies in Wilmington are:

• Best Overall: State Farm
• Runner Up: Auto-Owners Insurance Co

MoneyGeek ranked home insurance companies in Wilmington based on affordability, user satisfaction and financial stability ratings.

Buying a home insurance policy for a newly constructed home in Wilmington is cheaper than buying a policy for an older home. Newer homes pose a lower risk to the insurer since modern building materials are more damage resistant and easier to replace. Newly constructed homes cost an average of $5,113 to insure compared to $6,565 for a home built in 2000.

The cheapest insurance companies in Wilmington for new homes with $250,000 in dwelling coverage are:

• State Farm: $1,981 per year
• Universal North America: $2,480 per year

Home insurance also covers damage to personal property you keep in the home. If you want to cover more personal property, you will pay higher home insurance rates. In Wilmington, it costs $7,555 per year on average for personal property limits of $250,000 with our baseline policy compared to $6,565 per year for $100,000 in personal property coverage limits.

The cheapest insurance companies in Wilmington for those with personal property coverage limits of $250,000 are:

• State Farm: $3,088 per year
• Universal North America: $3,664 per year

Home insurance quotes in Wilmington will vary depending on the deductible amount. A policy with a low deductible typically costs more in annual premiums than home insurance policies with a high deductible. Home insurance in Wilmington costs $5,481 per year on average if you select a policy with a $2,000 deductible, compared to $6,565 for a policy with a $1,000 deductible.

The most affordable home insurance companies in Wilmington for policies with $2,000 deductibles are:

• State Farm: $2,405 per year
• Universal North America: $2,658 per year

Insurance companies in Wilmington use credit scores as a rating factor for home insurance costs. Homeowners with poor credit scores will pay more for home insurance than those with good credit. You will pay $10,742 per year on average for home insurance in Wilmington if you have poor credit, while homeowners with good credit will pay $6,565 per year.

If you are looking for cheap homeowners insurance in Wilmington for poor credit, the most affordable companies are:

• Heritage: $4,967 per year
• Universal North America: $4,985 per year

To get online home insurance quotes in Wilmington, you’ll need to provide information including:

• The replacement cost of your home: Insurers use the replacement cost of your home to determine the dwelling coverage level. Replacement cost is the actual cost of rebuilding your home and is not the same as its market value. You can get an estimate of the replacement cost of your home from a construction professional or building contractor.
• The value of your personal property: You need to provide information about your personal property's value since your homeowners policy will cover it. Insurers will use this value to determine your home's appropriate personal property coverage limit.
• Personal information: The insurer will require details including your address, the number of occupants in your home and your insurance history.
• Information about your house: You need to provide details such as the year of construction of your home, its size and whether you have protective devices installed.

MoneyGeek reviewed home insurance quotes from ten insurance companies in Wilmington. Data were provided in partnership with Quadrant. Home insurance quotes were collected for a home with varying coverage levels to calculate affordability scores. Customer satisfaction ratings were drawn from J.D. Power surveys.

The base profile was for a home with 2,500 square feet, built in 2000 with dwelling coverage of $250,000, personal property coverage of $100,000 and liability coverage of $100,000. Policies had a $1,000 deductible. MoneyGeek also collected quotes for homeowners with newly constructed homes, increased dwelling or personal property coverage, higher deductibles and poor credit scores.