Best & Cheapest Homeowners Insurance in Durham, NC April, 2024

In Durham, Auto-Owners provides the most budget-friendly homeowners insurance rates, with average annual premiums of $1,274.

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Updated: 19 March 2024
Written by
Bob Phillips
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After a thorough examination of homeowners insurance providers in Durham, North Carolina, we’ve found that Auto-Owners emerges as the most budget-friendly option, offering average annual rates of $1,274. However, it’s essential to recognize that the best insurer for you depends on your specific circumstances.

For instance, if your credit score has suffered, State Farm is the most economical choice, with an average yearly premium of $1,549. Conversely, if you own an older home, State Farm again provides competitive rates at $1,479 annually, along with comprehensive coverage.

On the other hand, if you have a newly constructed home, Nationwide offers the most cost-effective solution at $1,242 per year. And for individuals with a history of claims, Auto-Owners again presents affordable coverage at $2,392 annually.

Moreover, if you require coverage for valuable personal property, Travelers once again stands out, offering extensive coverage at a reasonable rate of $1,229 per year.

Our comprehensive analysis at Insuranceopedia aims to help you find the perfect fit for your homeowners insurance needs. By comparing customer ratings, evaluating personal experiences, and presenting comparison charts, we strive to provide you with all the necessary information to make a well-informed decision.

How much is homeowners insurance in Durham, NC?

Auto-Owners provides the most budget-friendly homeowners insurance rate in Durham, at $1,274 per year.

As shown below, rates in Durham are lower than the national average. The rates are also lower than the average rates for the state of North Carolina

Area Average Annual Rate
National $1,820
North Carolina $1,748
Durham $1,544

Recognizing that insurance rates aren’t stable and can vary significantly depending on several factors is essential.

For example, your personal driving history is crucial; a record with traffic violations or accidents often leads to higher premiums compared to a clean record. Additionally, the type and model of your vehicle are significant factors, as high-performance or luxury cars typically incur higher insurance costs.

Your location can also impact your rates, with densely populated urban areas typically facing higher premiums due to elevated risks such as theft or accidents. Furthermore, your age and marital status can also influence your car insurance premiums.

Best and Cheapest Homeowners Insurance in Durham, NC

Our Methodology

To identify the most cost-effective home insurance rates in Durham, we thoroughly examined data from various home insurance review platforms, including those analyzing rates sourced from public filings obtained by Quadrant Information Services. Our assessment combined an average of these rates for this evaluation. However, it's crucial to acknowledge that each company's rates fluctuate regularly and may vary based on your individual circumstances. Additionally, our overall rating incorporates my subjective viewpoint, drawing from fifteen years of experience as a licensed insurance agent and over three decades of purchasing home insurance.

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Quotes Analyzed

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Brands Reviewed

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Years Of Experience

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Research Hours

Cheapest Overall Home Insurance In Durham, NC

Auto-Owners stands out as the most economical option for homeowners insurance in Durham, NC, with an average annual rate of $1,274.

Company Annual Premium
Auto-Owners $1,274
USAA $1,548
Nationwide $1,890
Allstate $1,953
State Farm $2,298

The price of your policy is influenced by several factors, including your location, your home’s value, and your claims history. Auto-Owners provides a balanced blend of affordability and comprehensive coverage.

Cheapest home insurance If You Have Poor Credit

If your credit score isn’t excellent, State Farm offers the most cost-effective solution, with an average annual rate of $1,549.

Insurance Company Average Annual Premium
State Farm $1,549
Foremost $2,499
Nationwide $3,063
USAA $3,786
Auto-Owners $8,189

Your credit score can have a significant impact on your insurance rates, as insurers use it to assess risk. State Farm recognizes the importance of providing fair coverage for everyone, regardless of their financial history.

Cheapest Home Insurance If You Have an Older Home

Homeowners with older homes can secure the most budget-friendly rates with State Farm, averaging $1,479 per year.

Insurance Company Average Annual Premium
State Farm $1,479
Auto-Owners $2,231
USAA $2,246
Nationwide $2,704
Erie $2,738

Older homes often come with unique risks and maintenance challenges, which can result in higher insurance costs. State Farm offers competitive rates and comprehensive coverage specifically designed to address the needs of older homes.

Cheapest Homeowners Insurance for Newly Constructed Homes

If you’ve recently purchased a newly constructed home, Nationwide provides the most cost-effective option, with an average annual rate of $1,242.

Insurance Company Average Annual Premium
Nationwide $1,242
USAA $1,349
Erie $1,464
Allstate $1,628
State Farm $1,646

Newly constructed homes often require specialized coverage compared to older properties, and Nationwide stands out in providing affordable policies tailored to address these specific needs.

Cheapest Homeowners Insurance for a History of Claims

For homeowners with a history of claims, Auto-Owners offers an affordable solution, with an average annual rate of $2,392.

Insurance Company Average Annual Premium
Auto-Owners $2,392
Erie $2,720
USAA $3,428
Nationwide $4,379
Foremost $6,345

A history of claims can raise concerns for insurers, often leading to higher premiums. However, Auto-Owners believes in providing second chances and offers reasonable rates for individuals with previous claims.

Cheapest Home Insurance for Lots of Personal Property

If you own a significant amount of personal property, Travelers provides the most affordable option, with an average annual rate of $1,229.

Insurance Company Average Annual Premium
Travelers $1,229
USAA $1,656
Nationwide $2,180
Allstate $2,217
State Farm $2,533

As your personal property increases, your coverage needs may also rise, potentially resulting in higher premiums. However, Travelers provides comprehensive coverage at reasonable rates, ensuring adequate protection for all your belongings.

Best Homeowners Insurance Companies in Durham, NC

Selecting the appropriate homeowners insurance isn’t merely a necessity; it’s a strategic decision. With a rich history and diverse cultural heritage, Durham’s homes mirror the uniqueness of its residents. Therefore, finding an insurance provider offering comprehensive coverage at competitive rates becomes essential.

To simplify your decision-making process, we’ve compiled a list of the top homeowners insurance companies in Durham, NC. These companies have been evaluated based on their annual premiums, coverage options, customer satisfaction ratings, and overall reliability. Delve into our comparison chart below to find the perfect fit for your home insurance needs.

Ranking Company Annual Premium
1 Auto-Owners $1,274
2 USAA $1,548
3 Nationwide $1,890
4 Erie $1,707
5 MetLife $1,768
6 Heritage $1,010
7 Allstate $1,953
8 State Farm $2,298

Average Home Insurance Rates by Zip Codes

Homeowners insurance prices in Durham, NC can differ significantly depending on the zip code. Below, you’ll find tables displaying rates for various zip codes in Durham, along with information on the cheapest and most expensive zip codes in the area for annual home insurance premiums.

ZIP Code Average Insurance Premium (Annual)
27701 $1,726
27707 $1,725
27712 $1,727
27708 $1,842
27709 $1,728
27713 $1,724

Cheapest Zip Codes

ZIP Code Average Insurance Premium (Annual)
27705 $1,724
27701 $1,726
27707 $1,725
27704 $1,723
27713 $1,724

Most Expensive Zip Codes

ZIP Code Average Insurance Premium (Annual)
27708 $1,842
27703 $1,729
27709 $1,728
27706 $1,842
27712 $1,727

Average Home Insurance Rates in Durham, NC by Deductible Amount

The chosen deductible amount for a homeowners insurance policy significantly impacts premium rates in Durham, NC. Below is a breakdown of how average home insurance rates vary among insurers for various deductible amounts:

Deductible Amount Average Annual Premium
$500 $1,218
$1,000 $1,050
$2,000 $829

Average Home Insurance Rates in Durham, NC By Coverage Amount

One critical factor affecting your premium is the dwelling coverage amount. This represents the maximum sum your insurance provider will pay to rebuild or repair your home if it suffers damage or destruction. Let’s review a comparison chart outlining the average annual homeowners insurance premiums for various dwelling coverage amounts.

Dwelling Coverage Amount Average Annual Premium
$200,000 $1,167
$250,000 $1,426
$300,000 $1,759
$350,000 $2,008
$400,000 $2,207

Average Home Insurance Rates in Durham, NC by Company

Here’s a comparison table displaying annual premiums from some of the top providers in Durham, North Carolina:

Company Annual Premium
Auto-Owners $1,274
USAA $1,548
Nationwide $1,890
Erie $1,707
MetLife $1,768
Heritage $1,010
Allstate $1,953
State Farm $2,298

How Much is Homeowners Insurance for Other Cities in North Carolina?

Here’s a detailed comparison chart that highlights the cheapest companies and their annual premiums across various cities in North Carolina:

City Annual Premium
Charlotte $1,178
Burlington $1,060
Atlantic Beach $9,506
Clayton $1,487

Getting Online Homeowners Insurance Quotes in North Carolina

With informative platforms like Insuranceopedia, finding the perfect coverage for your specific needs is just a few clicks away. By offering quick online quotes from a variety of top-rated insurers, Insuranceopedia allows you to compare rates effortlessly. Simply input your details, and we’ll take care of the rest, presenting you with a range of options tailored to your requirements.

This approach empowers you to confidently select a policy that provides the best value, balancing cost with comprehensive coverage.

FAQs

Who has the cheapest home insurance in Durham, NC?

In Durham, North Carolina, Auto-Owners offers the most affordable home insurance option, with an annual premium of $1,274

What is the average cost of home insurance in Durham, NC?

On average, homeowners insurance in Durham, North Carolina, costs around $1,544 annually.

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