How much is homeowners insurance in Durham,NC

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In Durham, homeowners pay an average annual rate of $2,479 (for the coverage level of $300,000 for dwelling, $100,000 for liability protection, and $1,000 deductible), according to Insure.com’s rate analysis. It’s $25 less than the national average of $2,504.

Homeowners insurance rates change from one home to another. The home insurance premium in Durham depends on various factors, such as:

Size of your home
Age of your home
Amount of coverage you need
Location
Your credit score

To ensure you secure the best homeowners insurance policy, compare quotes from multiple insurers, enabling you to find the right coverage that aligns with your specific requirements.

Read this guide to learn how much homeowners insurance costs monthly in Durham, what home insurance costs for different dwelling coverage, and which companies offer cheap home insurance in Durham.

Key takeaways

The average cost of homeowners insurance in Durham is $2,479 per year.
State Farm is the cheapest homeowners insurance company in Durham with an average annual premium of $872.
If you increase your dwelling coverage from $200,000 to $300,000, you will just have to pay $860 more a year for home insurance.

How much is homeowners insurance in Durham per month

Durham homeowners pay an average of $207 a month, based on our rate analysis. It’s $37 less than the state average of $244 and $2 less than the national average for home insurance across the United States. The price of your homeowners insurance policy in Durham may vary depending on where you live, the value of your home, and the coverage you choose.

How much is homeowners insurance for a $200,000 house in Durham

In Durham, NC, homeowners pay an average of $1,619 annually for a $200,000 house. The amount you pay for home insurance each year depends on factors such as – natural disasters or events within your locality.

Some regions are more at risk for natural disasters, like floods, hurricanes, or tornadoes, implying higher rebuilding rates in these areas are higher, resulting in higher insurance premiums. It’s essential to note that your insurance policy might not cover damages caused by floods or hurricanes. If you reside in an area prone to flooding, consider buying flood insurance.

How much is homeowners insurance for a $300,000 house in Durham

As per rate analysis by Insure.com, homeowners residing in Durham typically pay an average of $2,479 annually to insure a home for coverage limits of $300,000 dwelling, $100,000 liability protection with a $1,000 deductible.

Your home insurance rates will be increased by $860 if you increase your dwelling coverage from $200,000 to $300,000. It is advisable to buy enough insurance sufficient insurance to cover the entire cost of rebuilding your home. However, the amount of dwelling coverage you need may vary depending on the size of your home, the features in your home, and the cost of living in your area.

How much is homeowners insurance in Durham by company

Among the carriers analyzed, State Farm is the most affordable homeowners insurance company in Durham. It’s average annual rate for homeowners in Durham is $872.

North Carolina Farm Bureau, ranks second and Nationwide makes it to the third spot with an average annual home insurance rate of $2,803.

Research on the company is essential before selecting a homeowners insurance policy. Insure.com has thoroughly examined all insurance companies operating in Durham and compiled a list of the most affordable home insurance companies.

Below are details of Durham home insurance companies and their average annual premiums.

Home insurance company	Annual rate
State Farm	$872
North Carolina Farm Bureau	$1,473
Nationwide	$2,803
Erie Insurance	$3,180
USAA*	$2,796

Methodology

Insure.com, with the help of Quadrant Information Services, gathered data for homeowners insurance rates in Durham for $300,000 dwelling coverage and $100,000 liability coverage with a $1,000 deductible. The data presented are those with a good credit tier alignment.