besthome insuranceDallasThe Best Cheap Homeowners Insurance in Dallas, Texas for 2024: Quotes and Reviews
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besthome insuranceDallasThe Cheapest and Best Homeowners Insurance in Dallas
The Cheapest Home Insurance Companies in Dallas
Most home insurance companies in Dallas have premiums with similar core coverages. The price of the policy is something you should consider before finally deciding which one to purchase.
The average homeowner has a dwelling coverage of $250,000. The two companies that offer the cheapest home insurance in Dallas on average are:
- Chubb: $1,816 per year
- Universal North America: $2,285 per year
Dwelling coverage has an impact on the price of your policy. For a homeowner with a $2 million dwelling coverage, the two companies offering the cheapest home insurance in Dallas on average are:
- Chubb: $5,666 per year
- Farmers: $11,638 per year
Using the table below, you view different amounts of dwelling coverage to see how premiums vary.
The Cheapest Home Insurance in Dallas, Ranked
Dwelling Coverage:
$250,000
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Home insurance policies with the initial baseline dwelling coverage of $250,000 have personal property limits of $100,000, while those whose dwelling coverage reaches $2 million have personal property limits of $800,000. Dwelling coverage, however, does not impact liability coverage. It remains $100,000 for all policies.
Homeowners who live outside of Dallas but still within the state can see how much home insurance costs in Texas.
The Average Cost of Homeowners Insurance in Dallas for 2022
Dallas$3,939
Texas$3,390
U.S.$2,103
The average cost of homeowners insurance in Dallas is $3,939 annually, or approximately $328 monthly. It is higher than the averages of both the state and the country. Home insurance in Dallas is higher than the average in Texas, which costs $3,390 per year. It is also higher than the national average of $2,103 per year.
Calculate the Cost of Home Insurance in Dallas
Several factors affect the computation of an insurance policy premium. It considers the area where you live, how much personal property you want to be covered, as well as your dwelling coverage. Even your credit score is a factor.
Select the appropriate information on MoneyGeek’s insurance calculator to compare homeowners insurance rates. You can even get a personalized quote by putting in your zip code.
Home Insurance Calculator
State
Texas
Dwelling Coverage
$250,000
Deductible
$500
Liability
$300,000
Personal Property
$50,000
Credit Score
Excellent
low end
on average
high end
These are annual estimates. Get a personalized quote to determine your costs.
The Best Home Insurance Companies in Dallas
When comparing home insurance companies, there are other factors to consider besides affordability. Customer service is critical when filing your claim. You will want it to be processed fairly and quickly. Financial stability is also something to consider.
Using a unique scoring system, MoneyGeek compared various insurers and determined the best homeowners insurance companies in Dallas. These are:
- Best Overall: Chubb
- Runner-up: USAA (available to present and former members of the military)
MoneyGeek used financial stability, affordability and customer satisfaction to rank the home insurance companies in Dallas.
1
Chubb
Score:93
A unique feature of Chubb’s policy is a complimentary risk consultation. They assess your home for potential risks to make sure you’re appropriately covered. It’s an opportunity to ensure you haven't overlooked anything. Regardless of your policy limit, Chubb pays for your home to be rebuilt to match its original condition. It holds even if the cost of repairs exceeds your limit.
More About Chubb
Chubb ranked first in MoneyGeek’s study, with high scores across all categories, including financial stability and affordability. Their premium reimburses personal property at replacement cost so you get the full value of your items.
2
USAA
Score:88
For homeowners who rent out a room or their home, USAA has home-sharing coverage, which protects them from expenses associated with being a landlord. These include costs from cleaning, care and maintenance of the home or room rented out. If you remain claim-free, you can get discounts from USAA and if you have security cameras, motion sensors or other home security devices installed in your home.
More About USAA
With perfect scores for customer experience and financial stability, USAA comes in a strong second. Their policies are available to present and former military members as well as their families.
3
Farmers
Score:85
4
Allstate
Score:84
5
State Farm
Score:81
6
Travelers
Score:81
7
Universal North America
Score:80
8
Nationwide
Score:78
9
Amica Mutual
Score:78
10
The Hartford
Score:76
Cheapest Home Insurance Companies in Dallas for Newly Constructed Homes
For a home built in 2000 with a dwelling coverage of $250,000, insurance costs $3,939 on average. In comparison, the rate for a newly constructed house with the same dwelling coverage is only $2,461 on average. Newer homes use modern materials that are more resistant to damage, decreasing the probability of homeowners eventually making a claim.
For new homes with a $250,000 dwelling coverage, the companies in Dallas that offer the cheapest home insurance on average are:
- Universal North America: $1,428 per year
- Chubb: $1,599 per year
The Cheapest Home Insurance in Dallas for New Homes, Ranked
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Cheapest Home Insurance Companies in Dallas if You Have a Lot of Personal Property
Home insurance protects you from costs caused by damage to personal property you keep at home. In Dallas, a policy with personal property limits of $100,000 costs $3,939 per year on average. You can have more personal property covered by increasing your coverage limit, but this also increases your premium. On average, a policy with $250,000 personal property limits costs $4,062 per year.
For homes with personal property coverage limits of $250,000, the companies that offer the most affordable home insurance in Dallas on average are:
- Chubb: $1,816
- Universal North America: $2,356
Cheap Companies in Dallas for Extra Personal Property Coverage
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Cheapest Home Insurance Companies in Dallas for High Deductibles
Another factor affecting the price of your policy is the deductible amount. A higher deductible equates to a lower annual premium since you pay more out-of-pocket.
On average, home insurance policies with a $1,000 deductible costs $3,939 per year. On the other hand, a policy with a $2,000 deductible costs several hundred dollars cheaper at $3,471.
In Dallas, homeowners can get the cheapest policies on average with higher deductibles from the following companies:
- Chubb: $1,699 per year
- Universal North America: $2,013
The Cheapest Companies in Dallas for High Deductibles, Ranked
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Cheapest Home Insurance Companies in Dallas if You Have Poor Credit
Although there are certain states where your credit score isn’t a factor when calculating rates, your credit standing has an impact on your annual home insurance policy premium in Dallas.
A policy for a homeowner with a good credit score costs $3,939 per year, while those with poor credit scores pay an average of $8,340 per year. You can get home insurance if you have a bad credit standing, but improving it allows you to pay a lower premium each year.
On average, homeowners in Dallas with poor credit scores can get the cheapest home insurance from these companies:
- Chubb: $3,133 per year
- Universal North America: $3,602 per year
The Cheapest Companies in Dallas for Poor Credit, Ranked
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Getting Online Homeowners Insurance Quotes in Dallas
You can get quotes for homeowners insurance online, but make sure that you have the following information ready:
- Home Replacement Cost – Different from a home’s market value, this pertains to the amount you’ll need if your home is damaged and needs to be rebuilt. It’s best to have a professional contractor assess your home to accurately determine replacement cost, which, in turn, determines your dwelling coverage.
- Personal Property Value – Have an honest assessment of how valuable your personal possessions are. It determines personal property coverage limits.
- Personal Details – This covers everything from where you live to who lives with you. Insurance providers may even ask for your insurance history.
- Home Information – Insurers will want to know when your home was built and what materials were used. Information about your home’s square footage and what security systems have been installed will also be asked.
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Ensure you're getting the best rate for your home insurance. Compare quotes from the top insurance companies.
Homeowners Insurance in Dallas Analysis: Methodology
MoneyGeek evaluated ten companies in Dallas and the home insurance policies they offer, using the information provided in partnership with Quadrant.
The profile of the average homeowner in Dallas is someone who has a 2,500 square foot home with a $250,000 dwelling coverage, a $100,00 personal property coverage and $100,000 in liability coverage. Standard policies have a deductible of $1,000.
Additional quotes were gathered by MoneyGeek to provide the most accurate information possible. These included quotes for new homes, higher dwelling or personal property coverage, increased deductibles and poor credit standings. The customer service ratings used to analyze insurers in Dallas were from J.D. Power surveys.
About Mark Fitzpatrick
sources
- Bankrate. "4 Hidden Costs of Being a Landlord." Accessed April 21, 2021.
- Safewise. "What is a Security System and How Does It Work?." Accessed April 21, 2021.
- Experian. "Does Your Credit Score Affect Homeowners Insurance?." Accessed April 22, 2021.