Hurricane Insurance Cost in North Carolina

There’s no single policy that North Carolina homeowners can purchase to protect against hurricane damage. Instead, there are policies that, together, can address the main problems these storms cause: wind damage and flooding. A homeowners policy that covers windstorm damage paired with a flood insurance policy is generally sufficient to cover your home.

For various reasons, it’s difficult to estimate how much it will cost to protect your home against hurricane damage. For one, policies differ from one provider to the next. For another, the cost to insure a home depends on its age, size, location, and many other factors.

However, according to the Insurance Information Institute, the average North Carolina homeowner will pay $1,086 in premiums on their homeowners insurance policy every year, and Bankrate estimates that the average flood insurance policy costs $1,154 in premiums. Therefore, the average homeowner with both policies will be on the hook for approximately $2,240 per year in premiums.

In addition, North Carolina homeowners are subject to a hurricane deductible, which is often 1% of the home’s insured value. If, for example, your home is insured for $200,000 with a 1% hurricane deductible, you’d pay the first $2,000 of your claim out of pocket before your coverage kicks in.

From broken windows to flooding, there’s virtually no end to the destruction a hurricane can cause. Unfortunately, the insurance company likely won’t be sympathetic to your situation. It’s their job to maximize profits, not help you recoup your losses. As such, they might:

• Deny that you have the right coverage 
• Claim that certain damages are not covered by your policy
• Delay or undervalue your claim
• Refuse to pay your claim unless you agree to sign a release of supplemental claims
• Make an inadequate offer that doesn’t address all of the losses incurred

If you encounter any of these issues, contact Morgan & Morgan. Our North Carolina attorneys are well-versed in handling insurance disputes. We can evaluate the facts to identify the true value of your claim, then pursue full compensation on your behalf.

If your claim has been undervalued, delayed, or rejected, it’s important that you have a law firm on your side with the resources and know-how to hold the insurance company accountable. Morgan & Morgan provides you an excellent chance of recovering the full compensation you are owed.

Schedule a free, no-risk case evaluation with our North Carolina attorneys today.