No matter how well you maintain your house, Texas’ erratic weather, which includes windstorms, tornadoes, severe rain, and flooding, requires you to be at your best as a homeowner. Having homeowners’ insurance will protect you from significant out of pocket costs.
Not only does it protect your home and belongings in the event of a fire, burglary, or other disaster, but it also provides liability coverage in case someone is injured on your property.
It is a good idea to connect with a local independent insurance agent to discuss your specific needs and find the best coverage for you. An agent can help you compare rates and coverage from different insurers and tailor a policy that meets your budget and protects your home.
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Popular Homeowners Coverages in the State
Standard Coverage
- Dwelling
- Personal Property
- Loss of Use
- Personal Liability
- Medical Payments
- Cost of Living Expenses
Recommended Coverage
- Flood Insurance
- Wind/Hail Insurance on the Gulf Coast
Optional Coverage
- Seepage and Leakage Coverage
- Extra Endorsement Coverage
Average Homeowners Insurance Rates in Texas in 2023
Insurance rates are mostly determined by risk. The rates are typically higher for risk prone areas so the insurance firms can plan for future claims settlement.
Texas residents pay an average of $1,860 for $250,000 in dwelling coverage. It has higher house insurance rates than other states as it is prone to natural disasters.
Here is the list of some best carriers and their average premiums that Texas property owners may want to consider getting quotes from.
Insurance ProviderAverage Annual Rate
- USSA $1425
- Nationwide $1379
- Statefarm $1572
- Allstate $2296
- Farmers $1443
Note: Insurance prices are subject to fluctuation depending on factors like market rates, coverage limits, location, and more.
Frequently Asked Questions
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What is the most common homeowners policy in Texas?
The most common type of homeowners policy in Texas is an HO-3. This policy covers your home, belongings, liability, medical payments and additional living expenses if you are displaced from your home by a covered claim.
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What are the 4 major categories of coverage in homeowners insurance?
A standard policy includes four key types of coverage: dwelling, other structures, personal property and liability.
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Is home insurance is mandatory Texas?
No, home insurance is not mandatory in Texas. However, if you have a mortgage on your home, your lender will likely require you to purchase a homeowners insurance policy. Even if you don’t have a mortgage, it’s still a good idea to insure your home since it provides protection against damage from fires, storms, burglaries, and other disasters.
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How much is windstorm insurance in Texas?
Windstorm coverage is only needed in certain areas of the state. However, the Texas Windstorm Insurance Association (TWIA) states that the average policy is $1,700. Including homeowners insurance, the cost would be $2,911.
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Does homeowner insurance cover roof leaks?
Homeowners insurance covers roof leaks if they occur suddenly by a covered peril like a storm with high winds or hail. However, slow leaks, or leaks caused by a lack of maintenance, are not typically covered by home insurance.
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Who are the best home insurance provider in Texas?
Some of the best Texas home insurance companies are USSA, Travelers, Progressive, State Auto, and Safeco.
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Why is Texas homeowners insurance expensive?
There are a variety of factors contributing to the high cost of homeowners insurance in Texas. First, the state is susceptible to severe weather events like hurricanes and tornadoes, which can cause significant damage to homes. Secondly, home values in Texas tend to be higher than the national average, meaning there’s more to replace if your home is damaged or destroyed.
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