Coastal vs. Inland: Insurance Considerations for North Carolina Residents Based on Location

Living in North Carolina offers a diverse range of landscapes, from the picturesque coastline to the rolling hills of the Piedmont. However, when it comes to homeowners insurance, your location matters significantly.

Insurance Considerations for High-Risk Zones

North Carolina homes in high-risk zones may have higher homeowners insurance rates and may need more robust coverage due to the following factors:

• Increased risk from climate change—Coastal areas in North Carolina face higher risks due to climate change. Rising average temperatures allow more powerful hurricanes to threaten coastal regions, leading to increased property damage and insurance claims. These risks make insuring properties along the coast more uncertain and less profitable for insurance companies.

• Surging coastal property values—Coastal properties have seen significant appreciation in value over the years. As property values rise, insurers must adjust rates to adequately cover potential losses. Higher property values mean higher replacement costs, which impact insurance premiums.

• Flood risk—North Carolina is prone to flooding, especially in coastal regions. Homes in flood-prone areas face higher insurance rates due to the likelihood of damage from storms, heavy rainfall and rising sea levels.

• Extreme weather conditions—Areas with more extreme weather conditions, such as hurricanes and heavy rainfall, are at greater risk of higher insurance premium increases. Being susceptible to severe weather events, North Carolina experiences higher rate hikes.

Insurance Considerations for Inland Homes

Inland residents might enjoy lower insurance rates, but they should still be aware of the following considerations:

• Wind and hail coverage—Homes across North Carolina may benefit from specific wind and hail coverage. Inland homeowners should be aware that these perils aren’t typically included in standard policies. Consider adding a rider to your policy to cover wind and hail damage.

• Flood insurance—Regardless of location, flood insurance is crucial, as flood-related damage is often excluded from standard homeowners insurance. Inland homes can also be affected by heavy rainfall and rising waters.

Homeowners Insurance in Havelock, NC

Whether you’re a coastal dweller or inland resident, understanding your insurance needs based on location is crucial. Be prepared, stay informed and work with a knowledgeable insurance agent to navigate the unique challenges posed by North Carolina’s diverse geography. Contact Amato Insurance Group for a homeowners insurance policy tailored to your needs.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.