Get Merritt, NC Home Insurance Rates!
If you are shopping for a new homeowners insurance policy in Merritt, North Carolina you are in the right spot.
Our website was designed to help you find a great policy that offers robust coverage at a price you can afford, all from the comfort of your couch. Our online quoting process is quick and easy, it allows you to shop 12 different nationwide insurance companies. Our insurance partners are nationwide insurers that offer a wide variety of coverage options at an affordable price.
Simply enter your zip code above, answer a few questions and we will get to work finding your new Merritt homeowners insurance policy.
A Few Facts about Merritt and North Carolina Home Insurance Rates
The average premium for a standard HO-3 policy in Merritt, NC is around $1,119 a year, not including wind and hail coverage, earthquak or flood insurance. You can easily compare your current home insurance rate to the state average or the current national average which is $1,311.
Luckily, homes in Merritt are pretty affordable with the average home price coming in at $265,500 which means you don’t have to carry as much insurance to fully protect your home, this helps keep your premium affordable.
We can help you find more affordable homeowners insurance within or near the Merritt area by shopping your coverage with a variety of national insurance companies. It’s quick and easy. Start your quote now.
Merritt and Homeowners Insurance
We know that shopping for homeowners coverage is never simple or fun but we can help make the process much easier. While our process is easy, we never cut corners and will take the time to review your insurance needs, explain the various coverages to you and make sure your home is fully protected against all perils.
Our process also makes sure you are getting all available home insurance discounts, and in many cases, we can help you save up to 40% on your current rates.
Our agents are available nearby and can answer any questions you may have about coverages or policy details; our goal is to make sure you fully understand your policy and all your questions have been answered before you sign on the dotted line.
Less Known Homeowner Insurance Coverages
While most homeowners are aware of the most common homeowner insurance coverages like dwelling and liability, many policies offer additional protections you may not be familiar with but that offer essential protection. Here is a quick rundown of a few of the lesser known coverages:- Other Structures: This coverage will protect all other structures on your property that are not your house. This means that if you have a shed, barn, other outbuildings on your property, they are protected under this coverage. It also covers fencing or any other structures on your property that are detached from your home.
It should be noted that other structures coverage is typically capped at 10 percent of your dwelling coverage. This means that if you are carrying $400,000 in dwelling coverage your other structures coverage is $40,000. - Loss of Use: This coverage protects your finances if you are forced out of your home due to a covered peril. As an example, if your home is damaged or destroyed by a fire and you are unable to live there while it is being repaired loss of use coverage will pay for some of the expenses you will incur due to being out of your home such as hotels, restaurants, and even dry cleaning.
- Medical payments: This coverage will help cover medical bills if someone is injured on your property, regardless of who’s at fault. Coverage limits are usually capped at around $5,000 for this coverage.
Compare Homeowners Insurance Rates in Merritt, NC!
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Merritt, 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 Merritt, 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 Merritt home. Let us help you shop the best North Carolina home insurance rates and coverages today!
Average Rates Nearby Merritt
Are you looking for homeowners insurance in a city near Merritt? Review coverage options and average rates in your area by clicking your city below. We can help you shop home insurance rates!
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Home Insurance Rates by Zipcode in Merritt, NC
Easily review average rates and get multiple homeowners insurance quotes by clicking your zip code below located in Merritt.
Merritt, NC Home Insurance Average Premiums
$635 /yr.
For the city of Merritt, 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) | $635 /yr. |
| Average Coverage: | $885 /yr. |
| 2600 sq. ft. or higher (all discounts applied) | $1185 /yr. |
What is the average home insurance cost for a home in Merritt, NC?
- • The average homeowners insurance premium paid annually for a home in Merritt is around $885 per year.
What does it cost on average per month for home insurance in Merritt, NC?
- • Homeowners in Merritt pay an average cost per month around $74.00 for insurance coverage.
Merritt, NC Coastal Wind, Hail & Flood Information
Merritt 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 Merritt is know for it's beautiful beaches and waterways. Because Pamlico County (FIPS: 37137) 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 Merritt, NC.
Coastal NC Home Insurance Information:
Merritt, NC - 2023 Housing Information
| Month | Current Home Value (2023) | Last Year Home Value (2022) |
|---|---|---|
| January | $324,455 | $294,633 |
| February | $325,764 | $298,146 |
| March | $328,641 | $304,025 |
| April | $331,326 | $309,934 |
Homeowners insurance will help cover the cost to repair or replace your Merritt 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 Merritt
- 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.
Get up to 12 competitive Merritt, NC homeowners insurance rates all in one place! |
Saving Money Tips on Merritt Home Insurance
A great way to save money on Merritt 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 Merritt 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 |
|---|---|---|
| 7 ft. | This is the average home elevation in Merritt, 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 Merritt, 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 Merritt, 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 Pamlico County.
North Carolina Homeowners Insurance News & Information
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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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North Carolina Joint Underwriters and Wind Pool Map Explained Posted on Thursday 28th December, 2023
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, Holden Beach, Oak Island Beach, Calabash, Bald Head Island, […]
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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, […]
Merritt, NC Dwelling Coverage Estimate
It is important to calculate your dwelling coverage for your home in Merritt 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 Merritt, NC?
- The average square footage in Merritt is around 1,967 Sq. Ft. which would cost you around $265,500 to replace the home if you base the home on the price to build per square foot of $135.
Minimum Replacement Cost Total: $265,500
Location: Merritt, North Carolina (Pamlico County)
Average Building Cost Per Square Foot in Merritt: $135 (low end)
Average Square Footage in Merritt: 1,967 Sq. Ft.
| Home Improvement Status | Price per Sq. Ft. | Dwelling Coverage |
|---|---|---|
| None or Very Minor Improvements | $135 | $265,500 |
| Some Additional Upgrades | $169 | $331,875 |
| Major Home Updates or Advancements | $203 | $398,250 |
The dwelling coverage is calculated by the average cost per square foot ($135) in Merritt, 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.