Cheapest and Best Homeowners Insurance in Texas as Rated by Customers in 2023
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 companies and well-reviewed homeowners 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 need to compare companies, we offer a tool that can help you .
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 insurance carriers, additional coverages, and potential discounts offered. You can also read reviews to see what other policyholders have to say about the home insurance providers. And if you're still wondering what a homeowner should be on the lookout for when it comes to purchasing a policy, you can always take a look at this guide that will help you.
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
High-value homes generally require higher coverage levels, so comparison shopping is a great way to find affordable coverage options. Farmers Insurance offers the cheapest average home insurance rates for a homeowners policy on 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 cost of homeowners insurance policies for seven companies in Texas.
|Company||Average rates for $200K dwelling|
|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.
Once again if you have a more expensive house, you're going to see higher rates even for a basic policy. But this shouldn't stop you from getting a policy. For a $400,000 home in Texas, we found Farmers Insurance offers the best average home insurance rates at $2,312 per year. Below are the average rates for seven homeowners insurance companies in Texas.
|Company||Average rates for $400K dwelling|
|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. Texan homeowners seem to benefit from the extra protection of having burglar alarm systems, but should those fail to help, the right replacement cost coverage can help you feel more secure that your personal items will be replaced, especially if you live in a high-risk area. Let your insurer know if you have protective devices installed in your house because they may be able to offer you a discount. Things such as burglar alarms and smoke detectors may seem normal to a homeowner, but they're important to mention when it comes to your policy.
Weather-related incidents are typically among the costliest homeowners insurance claims, whether it be hail damage on the roof, hurricane damage to homes on the coast, or even flood damage, they are all major problems for homeowners.
What will your homeowners insurance cover? Be sure to check your homeowners policy to be sure you are covered in case of specific natural disasters, such as flooding. It is not uncommon to have a separate policy to cover flood damage if your standard homeowners policy does not alreday cover it.
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 are Texas homeowners insurance rates 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, such as ZIP codes and minimum requirements. As with auto insurance, companies usually have a few different factors that they look at when calculating what your insurance costs will be. Auto policies tend to not only look at what kind of car you have, but surrounding metrics and a driver profile as well. The same could be said for homeowners insurance costs. 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 or additional coverage 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 does Clearsurance rate and rank 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.
Is there a 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. While it can be tempting to go with the cheapest home insurance provider or the first option that you come across, there is much more to know. Beyond just picking a company, it's crucial to have the right coverage and to understand what type of coverage you need. This way you know your expenses are being put towards a policy that is actually protecting you and your property.
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? There are so many variables to consider when it comes to the standard policies that are out on the market. As we mentioned above, water damage is usually something that one would have to spend extra in order to cover. If you live in an area that requires you to have a flood insurance policy, you'll need to understand how to go about acquiring said coverage.
You can always talk to an insurance agent, but having visual assistance can also be a great help. At Clearsurance, we want to make sure you have a strong understanding of your homeowners insurance coverage and what it all means. Not only should you be looking for the cheapest rates, but also the strongest companies in terms of financial stability and types of insurance products they offer.
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!
Frequently Asked Questions
Who offers the best homeowners insurance rates in Texas for a $200K home?
Farmers Insurance offers the cheapest average homeowners 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 options in Texas.
Who offers the best homeowners insurance rates in Texas for a $400K home?
For a $400,000 home in Texas, we found Farmers Insurance offers the best home insurance rates on average at $2,312 per year.