Smyrna, NC Homeowners Insurance Rate Quotes!
In Smyrna there are over 1,244 people living in a variety of different styles of construction type housing and require different home insurance coverage types for that added protection. While there are roughly 261 housing units in the Smyrna area, many of the ones that are currently occupied are in need of lower rates. In the majority of these Smyrna neighborhoods, the average family size is around 3 residents living per house.
The average household income in Smyrna is about $59,839. While this is a fairly high number, it is slightly below the national median. Luckily, the cost of housing in Smyrna is fairly reasonable, the average listing price is around $247,600.
The Best Homeowners Insurance Rates in Smyrna
Smyrna home values have greatly increased as you know already. Home prices in your area have gone up and as the price of your home increases, so does your property tax and homeowners insurance. Once of the reasons your homeowners insurance has increased in Smyrna is because it now cost more money to insure the coverage and protection you need to repair or rebuild your home. Luckily, at GetHomeInsuranceQuotes.com, we shop multiple home insurance companies for you and find the best rates and coverages. Homeowners living in Smyrna are seeing rates as low as $575 per year. Average rates are around $825 per year or $69 per month. Large homes in square footage size or in premium locations where the real estate value of the home is higher, rates can start around $1,125 per year. If you are unsure about the replacement cost coverage you need for your home please shop home insurance quotes with us or give us a call today.
Below are some of the most common insurance types for homeowners in the city of Smyrna:
What is an HO-3 policy include if you live in Smyrna?
The most common of homeowners coverage is the HO-3. The majority of homeowners carry this type of policy and it covers damage that is caused by all perils unless they are excluded in the body of the policy. Damage that is caused by floods or earthquakes is always excluded on an HO-3 policy but there can be other exclusions as well.
Do I need an HO-6 policy for my condo in Smyrna, NC?
Yes, HO-6 policies are fitted for covering condos. Condos are becoming a popular housing option in Smyrna and if you have one, then you need an HO-6 coverage type. In addition to covering your condo, this type of policy also protects co-ops. This insurance offers coverage for your personal belongings as well as the components of the building that you actually own.
I live in the historical district of downtown Smyrna, what type of coverage do I need?
Smyrna is lucky to have a fair number of historical homes and if you own one, you may need a HO-8 policy. These policy types are specific to older homes where the replacement cost of the house may actually exceed the cash value of the home. The replacement cost may be higher because of the additional work and material needed to restore the home to it's historical detail and value.
These policies are affordable because the payout levels are less than the actual replacement cost of the house. In most cases, the need for an HO-8 policy arises when the house is more than 40 years old and doesn’t qualify for a HO-3 policy. These policies only cover 11 perils.
I am renting a home in Smyrna, what type of coverage do I need?
An HO-4 policy type was designed for people that rent an apartment. It is often referred to as renters insurance. An HO-4 policy will pay out for damage to your personal property in your apartment and it also offers liability protection in the event that someone is injured in your apartment.
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Smyrna, NC Insurance Carriers
With over 20 years of North Carolina home insurance coverage and quoting experience, we enjoy helping customer find the best rate and coverage options for your home in Smyrna, NC. Our new carrier platform includes quick rates from the very best insurance companies, like Liberty Mutual, Safeco Insurance, Tower Hill, ShoreOne, Kind Group Underwriting, AIG, Chubb, Travelers, National General, Heritage Insurance and the North Carolina Joint Underwriting Association (NCJUA) for wind and hail insurance policies. Getting the best insurance rates with the right insurance company is key to protecing your most valuable investment, your Smyrna home. Let us help you shop the best North Carolina home insurance rates and coverages today!
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Home Insurance Rates by Zipcode in Smyrna, NC
Easily review average rates and get multiple homeowners insurance quotes by clicking your zip code below located in Smyrna.
Smyrna, NC Home Insurance Average Premiums
$575 /yr.
For the city of Smyrna, homeowners insurance rates may vary on deductible, coverage amount and property details. Below is a list of the averages based on the cost of an annual home insurance premium.
| Coverage Amount: | Annual Premium |
|---|---|
| 1800 sq. ft. or below (discounts applied) | $575 /yr. |
| Average Coverage: | $825 /yr. |
| 2600 sq. ft. or higher (all discounts applied) | $1125 /yr. |
What is the average home insurance cost for a home in Smyrna, NC?
- • The average homeowners insurance premium paid annually for a home in Smyrna is around $825 per year.
What does it cost on average per month for home insurance in Smyrna, NC?
- • Homeowners in Smyrna pay an average cost per month around $69.00 for insurance coverage.
Smyrna, NC Coastal Wind, Hail & Flood Information
Smyrna is located in a coastal county which greatly increases the risk of hurricanes and windstorms. Our quoting process will include wind and hail coverage options to give you the best protection you need against high winds and storm damage.
Flood Zone Notice: The beautiful coastal city of Smyrna is know for it's beautiful beaches and waterways. Because Carteret County (FIPS: 37031) has a shoreline and is in a coastal area it is important to purchase flood insurance. The risk is very high in this area and we will work with you to provide the best flood insurance coverage you need for your home in Smyrna, NC.
Coastal NC Home Insurance Information:
Smyrna, NC - 2023 Housing Information
| Month | Current Home Value (2023) | Last Year Home Value (2022) |
|---|---|---|
| January | $257,459 | $226,031 |
| February | $257,038 | $231,371 |
| March | $258,020 | $238,748 |
| April | $260,513 | $244,815 |
Homeowners insurance will help cover the cost to repair or replace your Smyrna home if it is damaged or destroyed by a covered peril, up to your coverage limits. A homeowners policy is made up of a few different coverages. Here are the most common coverages:
- Dwelling: This coverage will pay to repair or replace the structure of your home if it is damaged or destroyed. Review and Calculate Replacement Cost Coverage in Smyrna
- Liability: This coverage will help cover medical and legal bills if someone is injured in your home, slipping on an icy sidewalk for example. It also offers protection if you damage another person’s property, your child hitting a baseball through a neighbor’s window for example.
- Contents: This covers the cost to replace your personal possessions that are destroyed by a covered peril. Furniture, electronics, clothing and household goods are excellent examples. Contents coverage is often capped at 50% to 70% of your dwelling coverage.
- Other Structures: This coverage protects other structures on your property such as detached garages, outbuildings, barns, and sheds.
- Loss of use: This covers everyday costs that you incur if you cannot live in your home while it is being repaired due to a claim. It will pay hotel and restaurant bills and even the cost of dry cleaning.
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Saving Money Tips on Smyrna Home Insurance
A great way to save money on Smyrna homeowners insurance is to make sure you are getting all the discounts you are qualified to receive. Here are just a few of the most common discount’s insurers offer:
- Bundling: If you purchase your home and auto (or any other insurance coverage) from the same insurer, you should get a bundling discount. Expect to save 20%-25%.
- Secure your home: Adding a monitored security system, water leak sensors, deadbolts, and smoke detectors should result in a discount.
- Impact resistant roof: If you are replacing your roof, consider impact resistant roofing materials which help prevent hail and impact damage as well as resulting in a significant discount.
- Stay claim free: If you have been claim free for a number of years (five is a common requirement) your insurer should offer a claim free discount.
Are you shopping for the best rate near or wihin the Smyrna area? Check out what homeowners are paying on average for North Carolina homeowners insurance.
Elevation Review for Coastal Wind or Flooding Risk
| Elevation | Details | Homeowners Tips |
|---|---|---|
| 4 ft. | This is the average home elevation in Smyrna, NC | » Elevation is crucial to a homeowners insurance policy because it determines the risk of your home being in a flood zone which is particularly important in a coastal state such as Smyrna, North Carolina. A standard homeowners policy does not cover flood damage. If you live in a flood prone area, you will need to purchase a separate flood to fully protect your home. Flood insurance can be purchased via the National Flood Insurance Program (NFIP) or in the private market. NFIP policies come with coverage caps and other restrictions so you may need to supplement your flood insurance coverage with a private market policy. It's important to remember that flooding occurs in low and moderate risk areas as well. According to FEMA data, almost 25% of all flood claims come from low to moderate-risk areas. |
To get online quotes on your home and compare rates on home insurance premiums in Smyrna, enter your zip code above and easily complete our online quoting application. Remember, it's important to speak with us about additional home insurance discounts so you can get the best rate for your home in Carteret County.
North Carolina Homeowners Insurance News & Information
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North Carolina Joint Underwriters and Wind Pool Map Explained Posted on Wednesday 5th June, 2024
North Carolina is a lovely state to call home. Our state is packed with beautiful cities, museums, restaurants and of course, some of the loveliest beaches in the country. Unfortunately, if you live in one of our amazing coastal southern cities such as Ocean Isle Beach, Sunset Beach, Oak Island Beach, Calabash, Bald Head Island, […]
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North Carolina Coastal Home Insurance Rates Posted on Friday 29th March, 2024
North Carolina is a fantastic place to live with plenty of cultural activities, beautiful beaches, world-class cities as well as great restaurants and shopping. The only disadvantage to living in North Carolina, particularly if your home is located in coastal area is the cost of homeowners insurance. The average premium for a standard homeowners insurance […]
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NC Residents Speak Against 42% Rate Increase Requested by Rate Bureau Posted on Tuesday 13th February, 2024
During a recent public comment session held by the North Carolina Department of Insurance, dozens of North Carolina residents spoke out against an average rate increase of 42% that the North Carolina Rate Bureau is requesting. The Rate Bureau represents insurance companies in the state and earlier this year requested average rate increases of 42%. […]
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North Carolina: 2024 Homeowners Insurance Rate Increase Proposed Posted on Friday 19th January, 2024
Recently, the North Carolina Rate Bureau requested that the N.C. Department of Insurance allow increases to homeowners’ insurance rates by an average of 42.2 percent. If the NCDOI agrees, the proposed rates will go into effect Aug. 1. However, it is also possible that the NCDOI will not agree to the increase and deny the […]
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2024 Homeowners Insurance Outlook Receives Negative Rating Posted on Tuesday 21st November, 2023
The insurance news for 2024 is certainly not great. Experts expect that extreme weather and increasing costs will push up insurance costs and make insurance companies more selective when deciding where they will write policies. Recently, credit rating agency AM Best downgraded the entire home insurance industry from stable to negative. According to Richard Attanasio, […]
Smyrna, NC Dwelling Coverage Estimate
It is important to calculate your dwelling coverage for your home in Smyrna so you know what type of homeowners insurance coverage you need to cover your replacement cost. It is recommended to have enough dwelling coverage to rebuild your home if it was destroyed by a covered peril.
Please remember that replacement cost coverage does not include the cost of the land, only the price to rebuild your home, which is why we like to help customers by answering a few questions that you may have.
What is the average replacement cost coverage in Smyrna, NC?
- The average square footage in Smyrna is around 1,834 Sq. Ft. which would cost you around $247,600 to replace the home if you base the home on the price to build per square foot of $135.
Minimum Replacement Cost Total: $247,600
Location: Smyrna, North Carolina (Carteret County)
Average Building Cost Per Square Foot in Smyrna: $135 (low end)
Average Square Footage in Smyrna: 1,834 Sq. Ft.
| Home Improvement Status | Price per Sq. Ft. | Dwelling Coverage |
|---|---|---|
| None or Very Minor Improvements | $135 | $247,600 |
| Some Additional Upgrades | $169 | $309,500 |
| Major Home Updates or Advancements | $203 | $371,400 |
The dwelling coverage is calculated by the average cost per square foot ($135) in Smyrna, North Carolina times your heated square footage. Which would equal the cost to rebuild your home minus the cost of the property or land. Some homes will have a higher replacement cost due to home improvements like updated kitchens and bathrooms. Other upgrades may include: granite countertops, hardwood floors and stainless steel appliances. The national square foot average to build a brand new home is around 2500 square feet. So if you are looking to build, and your square footage of your new home is 2500, you are looking at a dwelling coverage premium of around $421,875 (Media price to build of $169 x 2500 sq. ft.) to cover the cost to rebuild your new home.
What is the difference between actual cash value and replacement cost value?
Homeowners insurance is available in both actual cash value (ACV) and replacement cost value (RCV). Knowing the difference is important:
Actual cash value: When valuing your personal possessions, an actual cash value policy will take depreciation into account. This means that your 10-year-old TV will be basically worthless according to your insurance company. While an ACV policy tends to be cheaper, if you have to make a claim you may be disappointed in your claim payout.
Replacement cost value: A RCV policy will replace your possessions with brand new items of similar quality regardless of how old they were at the time they were destroyed. While RCV policies are slightly more expensive, they are well worth the cost if you have to make a claim.