The short answer is $900-$3,500. The long answer is it depends.
If you’re shopping for a $500,000 home—or already own one—you’re probably wondering how much it’ll cost to insure it. It’s a smart question, and the answer depends on more than just the price tag of your house.
At Brevard Insurance, we like to break things down in plain English so you know what you’re paying for—and what you’re protected from.
Average Home Insurance Cost for a $500,000 Home
Across North Carolina, insuring a $500,000 home typically runs anywhere from $900 to $3,500 per year, depending on:
- Location – Is your home near a fire station? In a wildfire-prone area? On a steep mountain road?
- Construction Details – Frame or brick? New build or older home? Roof age plays a big role.
- Coverage Choices – Are you insuring just the home, or also scheduling valuable items like jewelry or art?
- Deductibles – Higher deductibles generally mean lower premiums, but it’s important to choose wisely.
- Claims History – Both yours and the property’s.
In Western North Carolina, we’re seeing average premiums closer to $2,200–$2,800 for well-maintained $500K homes that have good proximity to fire services and a newer roof.
What Does That Policy Include?
Most homeowners policies cover:
- Your Dwelling – The structure itself
- Other Structures – Garages, sheds, fences
- Personal Property – Furniture, electronics, clothing, etc.
- Liability Protection – If someone gets hurt on your property
- Additional Living Expenses – If you can’t live in your home during repairs
But don’t assume “full coverage” means everything. In fact, don’t assume that “full coverage” is a realistic idea – it does not exist. For example, flood and earthquake coverage are separate. So is coverage for short-term rentals or home-based businesses.
How to Lower Your Premium (Without Sacrificing Coverage)
Want to keep your costs manageable? Here are a few smart moves:
- Bundle with auto insurance
- Install smart home safety features (like monitored smoke detectors) – this is a relatively small discount
- Maintain your roof and siding
- Raise your deductible—if you can afford it in a pinch
- Be claim free – if you are claim free, some carriers will reward that with a reasonable discount
Talk to a Local Agent Who Knows the Area
At Brevard Insurance, we know Western North Carolina isn’t like anywhere else. The mountains are beautiful—but they come with their own set of risks. We’ll help you build a policy that fits your home, your lifestyle, and your budget.
Got questions about your current policy or a home you’re thinking of buying? Give us a call—we’ll help you understand what your options are and what coverage makes the most sense for you.