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How to find affordable homeowners insurance in Durham

 

Home insurance is an important investment for any homeowner. Homeowners coverage protects you against fire, wind damage, and theft for your home and the contents inside it. Given the relatively frequent occurrence of these incidents and the sizeable cost of replacing a home, a homeowners insurance policy is a solid investment.

What you pay for homeowners insurance depends on many factors. This can include the overall value of your house, the value of your personal belongings, and the materials that were used when building your home. The location of your dwelling can also play a large role in how much you pay for home insurance. Some geographic areas are susceptible to perils such as hail, wildfires, pipe freezes, volcanoes, and other hazards. These perils can lead to more expensive homeowners insurance rates. Learn more info about the specifics of home insurance coverage.

Finding the cheapest home insurance in Durham starts with shopping around and comparing policies. Have a look at the summary below comparing average Durham homeowners insurance rates to ensure you start your search with as much background info as possible. It's important to remember that the cost of your homeowners insurance is often based on the coverage limits you choose as well as a variety of other factors.

 
Durham, North Carolina, homeowners insurance — table of contents:
  1. Rates by insurance company
  2. Rates by coverage amount
  3. Rates by ZIP code
  4. Rates by deductible amount
  5. Policy bundling discounts

 

Homeowners insurance in Durham by insurance company

Homeowners insurance rates in Durham vary from one insurance company to another. Safeco offers the most affordable home insurance in Durham, at just $661 per year. This compares favorably to the city’s average homeowners premium of $1,250.

Begin your search for a home insurance policy by reviewing the cheapest companies in Durham, North Carolina, listed below.

 
AFFORDABLE HOME INSURANCE COMPANIES IN DURHAM
CompanyAverage Annual Rate
Safeco$661
North Carolina Farm Bureau$970
Liberty Mutual$1,004
USAA$1,121
Nationwide$1,129

 

Average home insurance costs in Durham by coverage level

How much you spend on home insurance coverage is greatly impacted by the level of coverage you choose. In Durham, carrying $200K dwelling coverage costs an average of $847, while carrying additional coverage up to $400K costs $1,524/year.

 
HOMEOWNERS INSURANCE RATES IN DURHAM — POPULAR COVERAGE LIMITS
Coverage LevelAverage Annual Rate
$100K Dwelling$522
$200K Dwelling$847
$250K Dwelling$1,055
$400K Dwelling$1,524

 

Durham home insurance prices by ZIP code

Not every area of Durham has equal home insurance costs. Policies are often priced on local variables such as the number of claims filed in the immediate area, meaning the neighborhood in which you live could have a major impact on how much you pay to insure your home.

If you're looking for the most affordable homeowners coverage in Durham, take a look at the 27705 ZIP code. In the 27705 area, homeowners policies typically cost just $1,203 a year — a full $46 less than the Durham average. Find the best places to live in Durham for cheap home insurance by looking at the table below.

 
AFFORDABLE ZIP CODES FOR HOMEOWNERS INSURANCE IN DURHAM
ZIP CodeAverage Annual Home Insurance Rate
27705$1,203
27713$1,213
27517$1,266

Other areas of Durham, however, face homeowners rates that are higher than the city average. Crime rates, fire risk, and even your how close you are to emergency services could lead insurance companies to see certain neighborhoods as higher risk, which could drive up area rates. With an annual average premium of $1,266, 27517 comes in as the costliest ZIP code in Durham for home insurance.

 
EXPENSIVE AREAS FOR HOMEOWNERS INSURANCE IN DURHAM
ZIP CodeAverage Annual Home Insurance Rate
27517$1,266
27560$1,266
27701$1,266

 

Homeowners insurance deductibles in Durham

One of the decisions that you will make when looking at home insurance policies is how high or low to set your deductible. The deductible is the total dollar amount that the insured must contribute toward a covered loss. Where you choose to set your homeowners deductible is linked to how much you pay in insurance premiums.

When picking a deductible, bear in mind that the higher your deductible is, the lower your insurance rates will be. As such, if you want lower insurance rates, aim for a higher deductible. It's worth noting that a homeowners deductible should only be as high as you can reasonably pay if you actually suffer a loss.

The following chart outlines the typical rates associated with deductibles offered by most home insurers.

 
HOME INSURANCE PREMIUMS BY DEDUCTIBLE LEVEL IN DURHAM
Deductible LevelAverage Annual Homeowners Insurance Rate
$500$1,217
$1,000$1,055
$1,500$979
$2,000$827
$5,000$729

 

Looking for a money-saving tip for insurance in Durham? Try bundling

To save a little money, you might think about bundling your homeowners and auto insurance policies through the same company. Bundling homeowners and auto insurance can save you a substantial sum each month on your auto insurance bill. In fact, bundling policies in Durham leads to average annual savings of 6%.

 
CHEAPEST CAR INSURANCE WITH A POLICY BUNDLE IN DURHAM
CompanyAvg. Annual Auto Insurance Rate (With Bundle)
GEICO$566
State Farm$786
North Carolina Farm Bureau$833
Erie$888
AmTrust NGH$1,003
 

Bundling your homeowners and auto policies can be a great way to save some money on insurance.

 

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Ross Martin
Ross MartinManager, Content Quality

As a licensed insurance agent, Ross researches and writes insurance content intended to help users make informed decisions.

Ross's background is in writing and education. He holds a master's degree from Royal Holloway, University of London.

Ross's work has been cited by The New York Times, Investopedia, The Simple DollarThe BalanceCar and Driver and Fox Business. He has been quoted by CNET, I Drive Safely and Kin Insurance

About The Zebra

The Zebra is not an insurance company. We publish data-backed, expert-reviewed resources to help consumers make more informed insurance decisions.

  • The Zebra’s insurance content is written and reviewed for accuracy by licensed insurance agents.

  • The Zebra’s insurance content is not subject to review or alteration by insurance companies or partners.

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  • The auto insurance rates published on The Zebra’s pages are based on a comprehensive analysis of car insurance pricing data, evaluating more than 83 million insurance rates from across the United States.