Cheapest and Best Homeowners Insurance in Texas as Rated by Customers in 2021
From unexpected natural disasters such as earthquakes, tornadoes, hurricanes, coastal storms and tropical storms to theft or vandalism, there are many things that may cause you to file a home insurance claim in Texas. However, having an insurance company you can trust to take care of your claim makes the situation less stressful. In the event something happens, don't you want to feel confident you've protected your home with one of the best Texas homeowners insurance companies?
To help you be more confident in your homeowners insurance company, we have reviews and rankings for hundreds of homeowners insurance companies and well-reviewed insurance providers so you can evaluate and compare the best Texas home insurance companies. In the table above, you can sort through every homeowners insurance company ranked on Clearsurance that sells in Texas. Next to each insurer, you'll find the company's rating, which is based exclusively on the reviews and ratings provided by customers regarding customer service experience. Note: Only those companies with at least 25 homeowners insurance reviews are eligible to appear in the Texas homeowners insurance rankings.
If you're looking for additional information on one of the best homeowners insurance companies in Texas, you can visit the company's profile page where you'll learn about the company, additional coverages, and potential discounts offered. You can also read reviews to see what other policyholders have to say about the home insurance company. On this page:
- Who offers the best homeowners insurance rates in Texas for a $200K home?
- Who offers the best homeowners insurance rates in Texas for a $400K home?
- Texas crime statistics
- Texas disaster statistics
Farmers Insurance offers the cheapest average home insurance rates for a $200K home in Texas when compared with six of the other largest home insurers in the state. Safeco Insurance and Allstate Insurance are the next two cheapest homeowners insurance options in Texas. The table below shows the average rates for seven companies in Texas.
| Company | Average rates for $200K dwelling |
| :---------- | :----------: |
| Allstate Insurance | $1,932 |
| Amica Insurance | $2,191 | | Encompass Insurance | $2,970 | | Farmers Insurance | $1,289 | | Safeco Insurance | $1,600 | | State Farm Insurance Company | $2363 |
| Travelers Companies, Inc. | $2,378 |
These rates are based on a $200,000 dwelling with the following coverage limits: $100,000 personal property, $20,000 loss of use, $20,000 other structures, $300,000 liability and $5,000 medical. The policy has a $1,000 deductible. The house used for the profile was 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.
For a $400,000 home in Texas, we found Farmers Insurance offers the best home insurance rates on average at $2,312 per year. Below are the average rates for seven homeowners insurance companies in Texas.
| Company | Average rates for $400K dwelling |
| :---------- | :----------: |
| Allstate Insurance | $3,683 |
| Amica Insurance | $4,736 | | Encompass Insurance | $4,516 | | Farmers Insurance | $2,312 | | Safeco Insurance | $2,379 | | State Farm Insurance Company | $3,561 |
| Travelers Companies, Inc. | $4,262 |
These rates are based on a $400,000 dwelling with the following coverage limits: $200,000 personal property, $40,000 loss of use, $40,000 other structures, $300,000 liability and $5,000 medical. The policy has a $1,000 deductible. The house used for the profile was 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.
Theft and vandalism or malicious mischief are among the 16 perils a standard homeowners insurance policy protects you from. So, how does crime in Texas compare to other states around the country? The FBI published the following statistics on crime in Texas for 2016:
- Property crime - 768,947
- Burglary - 148, 740
- Larceny theft - 551,151
When compared to the national average rate per 100,000 inhabitants, all three crime statistics for Texas rank above the national average.
Weather-related incidents are typically among the costliest homeowners insurance claims. FEMA has published statistics for each state since 1953. Data is updated through August 2018. Here’s a look at the Texas federally declared disasters since 1953:
- Fire - 154
- Flood - 36
- Hurricane - 21
- Severe storm - 20
- Tornado - 15
- Coastal storm - 2
- Freezing - 2
- Severe ice storm - 1
How Texas homeowners insurance rates are calculated
Ever wonder why you pay what you do for home insurance in Texas? Some things may be obvious, like the age of your home. But other factors that contribute to the price of homeowners insurance in Texas may not be as obvious. Here's a list of some of the factors homeowners insurance companies consider when providing homeowners insurance quotes and rates:
- The level of coverage required
- The size of your mortgage
- Your credit score
- The square footage of your home
- The geographic location of your home in Texas
- The condition of your home
- The age of your home
- The proximity of your home to a fire station
- Your previous claims record
- The amount of your deductible
- Optional add-ons like umbrella insurance
Zillow estimates that homeowners can expect to pay approximately $35 each month for every $100,000 of your home's value.
How Clearsurance rates and ranks the best homeowners insurance companies in Texas
Consistent with its mission towards greater transparency, Clearsurance does not keep its rating and ranking formulas in a black box. Our algorithm analyzes a range of inputs from our independent community of insurance customers, including:
- Customer Service
- Claim service
- Likelihood to renew
The algorithm also takes into account the percentage of what customers say the company does well vs. the percentage of what customers say the company could do better.
Finally, there is also a confidence factor based upon the number of reviews a company has by product. If the total number of reviews is less than 100, then a confidence deduction is applied to the star rating. The maximum impact of this deduction occurs when there are less than 25 reviews. Companies with 100 or more reviews, aged two years or less, receive 100% weighting (no deduction), while companies with 50 to 99 customer reviews receive a weighting of .95%, 25 to 49 reviews receive a weighting of .90% and companies with less than 25 reviews a weighting of .85%.
The Clearsurance customer ratings and rankings are derived entirely from customer reviews and ratings.
Homeowners insurance guide
Your home is likely your most valuable asset, making it that much more important that you insure your home with one of the best Texas homeowners insurance companies. But beyond just picking a company, it’s crucial to have the right coverage and to understand that coverage. Did you know that a standard homeowners insurance policy has six types of coverage? And did you know that there are usually 16 types of perils found in a homeowners insurance policy?
At Clearsurance, we want to make sure you have a strong understanding of your homeowners insurance coverage and what it all means. Check out our homeowners insurance guide to become a smarter insurance customer. And for more educational content on other homeowners insurance topics, check out our homeowners insurance blog!