Your Guide to Durham, NC Homeowners Insurance | Trusted Choice

Durham Homeowners Insurance

Your Complete Guide to Durham, NC Homeowners Insurance

Find the right homeowners insurance policy for you.

Meg Stefanac | March 2, 2020

The county seat of North Carolina’s Durham County, the city of Durham is home to nearly 270,000 people. This historic city has undergone an economic and cultural revitalization in recent years, and this has attracted many new residents to the city. If you are among Durham’s proud homeowners, you will want to be sure to protect your investment with a reliable and comprehensive home insurance policy. Independent Insurance Agents can help you find the best and most affordable insurance coverage for your home. Find an agent in or near Durham to learn more, and you can soon start comparing homeowners insurance quotes.

Cost of Homeowners Insurance in Durham, NC

North Carolina is the 26th most expensive state for home insurance in the US. The average home insurance rate in this city is lower than the national rate, and in Durham, it is even lower. Even so, you still have room for big savings when you are shopping for coverage.

  • National average yearly premium: $1,173
  • North Carolina average yearly premium: $982
  • Durham average yearly premium: $890

Your actual home insurance quotes are likely to be different from the rate shown above. This is because costs are calculated individually based on a number of considerations. Your rates can be influenced by factors such as: 

  • The size, age, and value of your house 
  • Whether the property is your primary residence
  • The number of stories in your house and whether it has a basement
  • The crime rate and weather risks in your ZIP code
  • Your claims history and credit score
  • The amount of your deductible
  • Whether you are bundling your coverage with other policies like car insurance or life insurance

Each insurance company has its own way of calculating rates. Comparing quotes enables you to choose the homeowners policy that offers the best value for your coverage. Independent agents in Durham make comparison shopping easy.

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Burglary Rate in Durham

The burglary rate in North Carolina is much higher than the national average, and in Durham, the rate is even higher. Residents of this city report more than 3,000 burglaries every year.  

  • Number of burglaries per 1,000 homes in the US: 4.69
  • Number of burglaries per 1,000 homes in North Carolina: 7.10
  • Number of burglaries per 1,000 homes in Durham: 12.34

Your home insurance can reimburse you for loss or damage following a burglary, but you will need to cover your deductible first. It is therefore in your best interest to take precautionary steps to reduce your risk. The most effective theft deterrent is a burglar alarm. That is why most insurance companies offer discounts to policyholders who have installed home security systems.

Catastrophic Events in North Carolina

  • Number of declared disasters in North Carolina: 58
  • Most common reasons for disasters in the state: Hurricanes and Floods
  • Average number of tornadoes per year in North Carolina: 29.1
  • Average amount of property damage per year in NC: $1,379,438,000
  • 1 in 15 insured homes has a claim each year.

Your homeowners insurance policy is designed to cover you against many of the hazards you are likely to face as a property owner in Durham. This includes everything from out-of-control kitchen fires to damaging weather events. Your agent can help you review your structure and contents coverage limits so you can be sure that they are high enough to enable you to rebuild, repair, or replace if necessary. One of the biggest weather risks faced by residents of Durham is hurricane damage. While damage in this city may not be as bad as along the coast, it can still be significant. Make sure that you have prepared an evacuation plan and have plenty of supplies on hand before disaster strikes. 

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Liability Insurance for Durham Homeowners

Your home insurance policy also includes liability coverage. This personal liability insurance is designed to cover expenses such as court costs, legal defense fees, and damages that you may accrue if you are sued for a covered event. Some examples of times your homeowners liability coverage can protect you include:

  • A visitor your home trips on loose flooring and is severely injured.
  • Your child hits a baseball through a neighbor’s window.
  • Your dog bites a jogger who is serious injured and requires stitches.
  • You are accused of libel or slander because of something you posted on social media.

An independent agent can explain your homeowners liability insurance in greater detail and can help you acquire a competitively priced umbrella insurance policy if you want even more coverage than your home insurance provider will allow.

Second Home and Vacation Home Insurance

Maybe you own a vacation home in Florida. Or perhaps you own a second house that you rent to students at Duke University. Whatever the reason, if you own more than one house, you will need to insure all your properties with appropriate home insurance coverage. A house that is not your primary residence will often have additional risk factors that insurance companies will take into consideration when calculating rates. For example

  • Vacation homes that are frequently left unoccupied for several months out of the year have an increased risk of property damage and burglaries. In this case, vacant home insurance may be needed. 
  • Vacation homes in areas that have a high risk of flooding or earthquakes may need to have supplementary flood insurance or earthquake insurance, since these risks are not covered by home insurance.
  • Second homes that are occupied by tenants have higher liability risks and therefore need to covered by landlord insurance.

Your local independent agent can help you review the coverage needs of your additional properties and can assist you with finding the best and most reasonably-priced insurance.

Why Work with an Independent Insurance Agent?

The easiest way to find a reliable homeowners insurance policy at a great price is by working with an independent agent. These agents work for you, not for an insurance company, so you can be sure that you are getting the coverage you need at a cost you can afford.

Independent agents in Durham are ready to help. Contact an agent near you to start comparing customized home insurance quotes.

Sources © 2020, Consumer Agent Portal, LLC. All rights reserved.

http://www.naic.org/prod_serv/AUT-PB-14.pdf

https://www.census.gov

http://www.city-data.com

© 2020, Consumer Agent Portal, LLC. All rights reserved.

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