Report: North Carolina home insurance costs up nearly 47% since 2020

RALEIGH, NC (WWAY) — North Carolina homeowners are paying significantly more for home insurance than they did five years ago, according to a new LendingTree analysis that found premiums in the state have climbed nearly 47% since 2020.

LendingTree’s 2026 State of Home Insurance Report estimates the average annual homeowners insurance premium in North Carolina is $2,566, about 7.1% higher than the national average. The report also found premiums in the state increased 6.2% in 2025 alone.

While North Carolina does not rank among the most expensive states for homeowners insurance, the report found the state’s costs have continued to trend upward as insurers adjust rates in response to factors including severe weather, higher rebuilding costs and inflation.

The report comes after North Carolina reached a settlement last year allowing average statewide homeowners insurance base rates to increase by about 15% over two years, with increases taking effect in 2025 and 2026. The agreement was substantially lower than a more than 42% average increase initially requested by the North Carolina Rate Bureau.

Nationally, LendingTree found homeowners insurance costs continue to rise across much of the country, although the pace of increases has slowed in some states compared with previous years. The report also found more than 12 million U.S. homeowners went without insurance in 2024, citing affordability concerns.