Carrier vs. Carrier Comparisons
Related Companies
Homeowners insurance in Texas can be expensive, mainly because of the frequency of damaging weather that Texas experiences. However, there are ways you can save money on your Texas home insurance policy.
From discounts to shopping around, you may be able to find a better price. This blog outlines the best ways to save money and find affordable Texas homeowners insurance.
As you're reading through this guide on how to save money on Texas homeowners insurance, consider getting quotes so you can compare them. Use our free insurance quote comparison tool below to find the best rates for personalized coverage.
Save Money by Comparing Insurance Quotes
Compare Free Insurance Quotes Instantly
Secured with SHA-256 Encryption
How much does Texas homeowners insurance cost?
In Texas, the cost of homeowners insurance can vary from just under $2,000 to upwards of more than $4,000 per year. The cost of Texas home insurance varies based on a number of factors including the value of your home and the insurance company that you choose.
The table below displays the average cost of homeowners insurance for two homes of different value from some of the most popular home insurance companies in Texas. Keep in mind that your cost could vary.
| Company | Average rates for $200K dwelling | Average rates for $400K dwelling |
|---|---|---|
| Allstate Insurance | $1,932 | $3,683 |
| Amica Insurance | $2,191 | $4,736 |
| Encompass Insurance | $2,970 | $4,516 |
| Farmers Insurance | $1,289 | $2,312 |
| Safeco Insurance | $1,600 | $2,379 |
| State Farm Insurance Company | $2,363 | $3,561 |
| Travelers Companies, Inc. | $2,378 | $4,262 |
These rates are based on a $200,000 and $400,000 dwelling with the following coverage limits: $100,000/$200,000 personal property, $20,000/$40,000 loss of use, $20,000/$40,000 other structures, $300,000 liability and $5,000 medical. The policy has a $1,000 deductible. The houses used for the profiles were constructed in 2004 and the individual had an excellent credit score. All rates displayed should only be used for comparative purposes as individual rates will differ. Rate data is provided by Quadrant Information Services.
What affects the cost of homeowners insurance in Texas?
There are many factors that affect the cost of your Texas homeowners insurance. Below is a list of factors that could influence your homeowners insurance rate:
- Your credit score
- The square footage of your home
- The age, location, and condition of your home
- The type of house you have (what materials it’s made out of)
- The proximity of your home to a fire station
- The amount of your homeowners insurance deductible
- Your previous claims record
- The homeowners insurance company you choose
- The amount of coverage you purchase
Given that Texas weather frequently brings home damage, you may need to purchase additional coverages. While these coverages could increase the cost of Texas homeowners insurance, they offer valuable protection.
Flood Insurance: In Texas, you may need to purchase flood insurance. Flooding occurs frequently in the state of Texas, which is why it may be beneficial for you to get this type of insurance. Flood insurance helps cover the cost of water damage to your home caused by severe weather, which isn’t covered by homeowners insurance.
Windstorm and Hail Insurance: Another coverage that you may need in Texas is windstorm and hail insurance. Natural disasters happen all too often in Texas, which is something to be aware of if you are purchasing a home in the state. Homes, especially in the Texas gulf coast counties, may experience wind and hail damage.
If you are unsure if you need flood or wind or hail insurance, contact your agent to see if getting additional coverage is the right move for you.
How can I get cheap Texas homeowners insurance?
There are ways you are able to save on homeowners insurance in Texas. Texas home insurance companies offer discounts that are based on factors about you and your home.
Below are examples of some Texas home insurance discounts you could qualify for:
- A burglar alarm
- A fire alarm or sprinkler system
- An impact-resistant roof
- A newer home or home that is in good condition (recent renovations like a new roof)
- No claim for three years in a row
- Other policies within the same insurance company
There are many options to save more money on your homeowners insurance. It’s important to do research to find the applicable Texas homeowners insurance discounts to be applied to your monthly bill.
Keep in mind that discounts available vary by company. Make sure that you’re receiving all the Texas home insurance discounts your company offers for which you are eligible.
Bundling Your Texas Insurance Policies
You can bundle Texas insurance policies across home and auto insurance with the same insurance company, which may save you money.
If you are interested in bundling your homeowners and car insurance in Texas, refer to Clearsurance’s best bundled Texas insurance companies to find companies that offer the best bundling policies in your zip code.
Shop Around, Get Multiple Quotes, and Compare Rates
One of the best ways to get cheap Texas home insurance is to shop around. Although you may believe that you have found a good price for homeowners insurance, you should compare your policy against quotes from other home insurance carriers. They could offer benefits and discounts of which you were unaware.
Consider shopping around every year (or every few years) to test the market and see if you can get a better deal. Get quotes from at least three different companies to compare the cost and policy features.
Make sure you don’t skimp on valuable coverage in order to get cheap Texas homeowners insurance. The more quotes that you compare, the better of a chance you’ll have to save money.
By comparing prices frequently, you can stay informed about reasonable rates for insurance throughout the state of Texas. If you stay with the same carrier without comparing costs, you could be missing out on potential savings, benefits, and discounts.
Saving money on homeowners insurance in Texas may take time, but it’s possible and worth it. There are multiple ways to save money on your insurance as well as resources to help you navigate which insurance is right for you and your home.
Homeowners insurance in Texas is especially important because of Texas’ environment and the number of natural disasters that occur on an annual basis. If a natural disaster strikes your home in Texas, your homeowners insurance will be there to help you recover. At least with insurance, you will be safe and protected by your provider when, and if, the time comes.
One of the best ways to save money on Texas home insurance is to compare multiple quotes. Use our free insurance quote comparison tool below to find the best rate for Texas home insurance.
Save Money by Comparing Insurance Quotes
Compare Free Insurance Quotes Instantly
Secured with SHA-256 Encryption
The content on this site is offered only as a public service to the web community and does not constitute solicitation or provision of legal advice. This site should not be used as a substitute for obtaining legal advice from an insurance company or an attorney licensed or authorized to practice in your jurisdiction. You should always consult a suitably qualified attorney regarding any specific legal problem or matter. The comments and opinions expressed on this site are of the individual author and may not reflect the opinions of the insurance company or any individual attorney.