Hurricanes often find their way to the North Carolina coast, but Durham avoids the brunt of those storms by being inland by about 130 miles. Though its inland location helps soften the impact of hurricanes, the chance for high winds, heavy rain, and flooding from these storms make it important to have homeowners insurance that fully protects your home.
The average cost of homeowners insurance in Durham is $1,749 per year or $146 a month. This is around 4% higher than the statewide average of $1,678 per year, and about 9% lower than the national average of $1,899 per year.
However, cost isn’t the only factor to consider when choosing a home insurance company. Not sure what to look for? Policygenius can help you figure out your coverage needs and compare quotes from multiple top companies in Durham.
Methodology & why you can trust our rates
Policygenius has analyzed home insurance rates provided by Quadrant Information Services in March 2022 for ZIP codes in all 50 states plus Washington, D.C., for a 40-year-old female homeowner with no claim history, good credit, a $1,000 deductible, and the following coverage limits:
Dwelling: $300,000
Other structures: $30,000
Personal property: $150,000
Loss of use: $60,000
Liability: $300,000
Medical: $1,000
All rates based on the above coverage limits except where otherwise noted.
Some carriers may be represented by affiliates or subsidiaries. Rates provided are a sample of costs. Your actual quotes may differ.
Best homeowners insurance companies in Durham
Of the companies we evaluated, State Farm has the lowest rate, with an average annual policy cost of only $509 per year — that’s over $1,200 less than the Durham average. Average home insurance rates for North Carolina Farm Bureau, USAA, and Allstate also came in below the city average.
Looking at the largest home insurance companies in Durham by market share, Policygenius analyzed the latest rate data from Quadrant Information Services to find out how much you can expect to pay with each company in 2022. We then looked at 2021 J.D. Power customer satisfaction scores and compared that with the average coverage needs of Durham residents to find the best homeowners insurance in Durham.
Company | Average yearly cost | J.D. Power Rating |
|---|---|---|
State Farm | $892 | 835 |
North Carolina Farm Bureau Insurance | $1,299 | -- |
USAA | $2,251 | 882 |
Nationwide | $2,699 | 812 |
Allstate | $991 | 829 |
There's a reason State Farm is one of the top-rated insurance companies in the U.S. — its customer satisfaction ratings are through the roof, it offers a slew of coverage add-ons for full protection, and makes filing claims through its mobile app a breeze.
Pros
Top-tier coverage add-ons, including equipment breakdown, water backup, and service line coverage
Get up to $1 million in personal liability coverage
Score discounts for bundling, installing security devices, and choosing a high deductible
File and track claims online, over the phone, in person, or through its mobile app
High customer satisfaction and financial strength ratings
Cons
No discounts for first-time homebuyers or going a year without a claim
Read our full State Farm home insurance review
Why State Farm tops our best list
State Farm has high customer satisfaction ratings and a wide range of coverage options for a variety of home types. State Farm has a large network of local agents for those who prefer a human touch, as well as a user-friendly mobile app and website for the digitally inclined.. If you choose to rent your home to visitors looking to spend some vacation time in Durham, consider adding State Farm’s short-term rental coverage for that additional bit of worry-free protection.
How to get a quote
Online through State Farm
North Carolina Farm Bureau Insurance offers everything from home, auto, and farm insurance to flood and windstorm/hail-only coverage — allowing you to keep all of your policies under one roof.
Pros
Offers a slew of insurance products on top of home insurance — including auto, life, liability, and farm insurance — to keep all of your policies with one company
Flood insurance and windstorm/hail-only policies available — a rarity among insurers
Mobile home insurance coverage available
Solid customer service ratings
File claims online
Cons
Farm Bureau membership required for coverage
No information about specific coverages and discounts available online
Why North Carolina Farm Bureau Insurance tops our best list
Keep it local with North Carolina Farm Bureau Insurance. What sets North Carolina Farm Bureau apart from the other insurers on this list is its local agents who understand the needs of Durham residents.
How to get a quote
By calling North Carolina Farm Bureau Insurance
Why USAA tops our best list
Available only to members of the military and their families, USAA offers comprehensive coverage to those who serve our country. USAA policies include robust add-ons that other insurers charge extra for, so Durham homeowners have the assurance of knowing their home is fully protected in the event of a disaster.
How to get a quote
Online through USAA
Nationwide offers flexible home insurance policy options for every home type and income level. And we love its slew of discounts for everything from having a newish roof to living in a gated community.
Pros
Offers lots of coverage add-ons, including flood and earthquake insurance
Option to rebuild roof with stronger, safer materials after a covered loss
Score discounts for living in a gated community, making home renovations, having a newer roof, and more
Seamlessly submit claims online or through its mobile app
Above-average claims satisfaction rating
Cons
Below-average customer satisfaction ratings
Water backup coverage is more expensive than with other insurers
Read our full Nationwide home insurance review here
Why Nationwide tops our best list
Nationwide has several customizable policy options that help you get the coverage you need at a rate that fits your budget. While you might not need Nationwide’s available earthquake insurance, its flood insurance option should be top of mind for Durham residents given the area’s heavy rains, especially during hurricane season. Nationwide also offers a coverage add-on that gives you the option to rebuild your roof with better materials after a loss, which may be worthwhile given the heavy wind and hailstorms that impact the Durham area.
How to get a quote
Online through Policygenius or Nationwide
Why Allstate tops our best list
Excellent customer service ratings and several available coverage add-ons make Allstate a standout insurance company in Durham. Durham residents will be happy to know Allstate offers additional coverage for roofing surfaces, which are prone to damage from the residual winds of passing hurricanes. The humidity common to the region makes Allstate’s mold protection another worthwhile option.
How to get a quote
Online through Policygenius or Allstate
Cheapest homeowners insurance companies by ZIP code in Durham
Looking at average home insurance costs for the most popular companies in Durham, we found that the cheapest home insurance in the city is with State Farm. The average State Farm rate is around $550 per year in most Durham ZIP codes — around a third of the city average of $1,749 per year.
ZIP code | Company | Average yearly cost |
|---|---|---|
27701 | State Farm | $543 |
27703 | State Farm | $558 |
27704 | State Farm | $554 |
27705 | State Farm | $543 |
27706 | Allstate | $991 |
27707 | State Farm | $523 |
27708 | Allstate | $991 |
27709 | State Farm | $554 |
27712 | State Farm | $548 |
27713 | State Farm | $552 |
The most affordable areas for homeowners insurance in Durham
With an average home insurance rate of $1,724 per year, the 27707 ZIP code (southwest Durham) is the most affordable area for home insurance in Durham.
ZIP code | Average yearly cost |
|---|---|
27707 | $1,724 |
27705 | $1,725 |
27701 | $1,725 |
27703 | $1,726 |
27704 | $1,726 |
The most expensive areas for homeowners insurance in Durham
With an average home insurance rate of $1,726, the 27704 ZIP code (northeast Durham) is the most expensive area for home insurance in Durham.
ZIP code | Average yearly cost |
|---|---|
27706 | $1,841 |
27708 | $1,841 |
27703 | $1,726 |
27709 | $1,726 |
27704 | $1,726 |
Shopping for homeowners insurance in Durham
When shopping for homeowners insurance, it’s important to make sure that your quotes reflect your actual coverage needs. Not every home is the same, so your coverage and your neighbor’s coverage could be quite different — and that’s okay.
Homeowners in Durham are at risk of severe storm damage and tropical storm winds from passing hurricanes, so you’ll want to make sure your policy has enough coverage to cover the cost of expensive repairs.
In this section, we break down the average annual home insurance rates in Durham for different coverage and deductible levels, as well as the cheapest and most expensive home insurance companies for dog and pool owners. Once you’re ready to shop, a Policygenius expert can help you navigate your coverage needs and help you find the best deal on homeowners insurance in Durham.
Durham home insurance costs by coverage amounts
Dwelling coverage is the part of your homeowners insurance that covers the physical structure of your home. This should be enough to cover your home’s replacement cost, which is the amount it takes to rebuild your home from the ground up. Keep in mind that this amount is not the same as its market value or purchase price.
As the table below shows, the higher your dwelling coverage, the higher home insurance rates will be. You’ll pay roughly $500 more for every $100,000 of additional dwelling coverage for your home.
Dwelling coverage amount | Average yearly cost |
|---|---|
$100,000 | $687 |
$200,000 | $1,157 |
$300,000 | $1,749 |
$400,000 | $2,204 |
$500,000 | $2,646 |
Personal liability coverage isn’t about rebuilding your home, but about paying for legal fees or medical bills if someone is hurt or their property is damaged and you are found to be legally responsible. This coverage protects your home, all of your assets, and even your future income from potential lawsuits.
As seen in the table below, more liability coverage doesn’t necessarily correlate with higher average home insurance premiums in Durham. Opting for high liability coverage limits often has a minimal impact on your overall rate, making it a great value add for any policy.
Liability coverage amount | Average yearly cost |
|---|---|
$100,000 | $1,740 |
$200,000 | $1,629 |
$300,000 | $1,749 |
$400,000 | $1,635 |
$500,000 | $1,841 |
Durham home insurance costs by deductible amount
Your deductible is what you pay each time you file a claim, and choosing a high one will generally lower your premium. While that sounds like a great idea, don’t pick a deductible amount that you won’t be able to pay when you file a claim. Remember, storm damage is common in Durham, and that could mean multiple claims and deductibles.
As seen in the table below, Durham residents can save around $200 on home insurance by choosing a $1,000 deductible over the $500 option, while the $2,000 deductible option can save residents around $800.
Deductible amount | Average yearly cost |
|---|---|
$500 | $1,907 |
$1,000 | $1,749 |
$2,000 | $1,623 |
Home insurance discounts in Durham
You may be eligible for discounts if you install protective devices like fire alarms or security systems in your home. These help reduce your chances of having to file a claim, and they also make your home safer.
While you won’t get a huge discount if your house has one of the following features and nothing else, they can add up if you have several protective devices in your home. Here is the average annual rate and average discount percentage for homes in Durham with deadbolts, smoke alarms, or burglar alarms.
Discount | Average yearly cost |
|---|---|
Dead bolt | $1,749 |
Smoke alarm | $1,731 |
Burglar alarm | $1,665 |
Home insurance companies in Durham for dog owners
Many insurance companies increase your rates if you have a dog breed that it considers dangerous or high risk. Having a dangerous dog breed increases the probability of liability claims, given the higher risk of your dog biting the mailman or a neighbor. So insurance companies will generally charge you more for coverage if you have one of these breeds.
With an average rate of $892 per year, State Farm has the cheapest home insurance rates in Durham for a home with a dangerous dog breed, while Nationwide’s average yearly premium of $2,699 is the highest.
Company | Average yearly cost |
|---|---|
State Farm | $892 |
Allstate | $991 |
North Carolina Farm Bureau Insurance | $1,299 |
USAA | $2,251 |
Nationwide | $2,699 |
Home insurance companies in Durham for poor credit
Your credit score also has an impact on how much you pay for homeowners insurance. The logic is that those who don’t have as much cash on hand are more likely to file a claim.
With an average rate of $991 per year, Allstate has the cheapest home insurance rates in Durham for a homeowner with poor credit, while USAA’s average yearly premium of $3,772 is the highest.
Company | Average yearly cost |
|---|---|
Allstate | $991 |
North Carolina Farm Bureau Insurance | $1,299 |
State Farm | $1,530 |
Nationwide | $3,076 |
USAA | $3,772 |
Home insurance companies in Durham for pool owners
Having a pool increases your insurance costs due to the increased risk of injury to anyone who uses your pool. Anytime an insurance company sees the possibility for increased claims, it increases your rates accordingly.
With an average rate of $892 per year, State Farm has the cheapest home insurance rates for Durham homes that have a swimming pool, while Nationwide’s average yearly premium of $2,699 is the most expensive.
Company | Average yearly cost |
|---|---|
State Farm | $892 |
Allstate | $991 |
North Carolina Farm Bureau Insurance | $1,299 |
USAA | $2,251 |
Nationwide | $2,699 |
How to buy homeowners insurance in Durham
Here are the steps to take as you shop for homeowners insurance in Durham.
Reach out to a licensed Policygenius agent. Our experts can help you figure out which homeowners insurance coverages fit your needs, break down how various add-ons work, and explain how different coverages can impact your premiums. If you’re confused about homeowners insurance, Policygenius can help.
Ask about theNorth Carolina Joint Underwriting Association – North Carolina’s FAIR plan provider. This is a plan to cover homeowners at high risk of damage who aren’t able to get homeowners insurance through a traditional insurance company
Consider flood insurance. While you don’t have an ocean view in Durham, there is still the high potential for residual flood damage due to the heavy rains that come along with hurricanes.
Figure out how much of a deductible you can afford. A higher deductible lowers your insurance rate, but you still need to pay it every time you file a claim. Pick one that you can comfortably afford.
Compare your Policygenius quotes. Once you’ve nailed down your coverage needs, it’s time to compare your Policygenius quotes. An agent can help you evaluate your options to see which is the best for your coverage and budget needs.
Sign your policy and pay your first premium. After you select a policy, your Policygenius agent will file the paperwork and can even cancel your old policy if it’s still active. All you need to do is sign your policy and pay your first premium.
Frequently asked questions
Is homeowners insurance expensive in North Carolina?
The nationwide average for homeowners insurance is $1,899 while the state average is $1,678. That makes it a bit more affordable than average, but exactly where you live and the type of insurance you purchase has a big impact on your rates.
Is homeowners insurance required in North Carolina?
No, North Carolina doesn’t require homeowners insurance. However, most lenders require that your home be insured to minimums as a part of your loan terms.
How can I lower my insurance in Durham?
You can lower your insurance multiple ways, including by installing home protective devices. Bundling multiple policies is another great way to save on homeowners insurance.
