The Cheapest and Best Homeowners Insurance in Fort Worth
The Cheapest Home Insurance Companies in Fort Worth
Homeowners consider different things before purchasing a home insurance policy, but one thing that’s always on the list is how much home insurance costs in Fort Worth. It becomes a crucial piece of information since most insurance policies have similar core coverages.
If a home has a dwelling coverage of $250,000, the companies that offer the cheapest home insurance in Fort Worth, on average, are:
- Chubb: $2,262 per year
- Universal North America: $2,350 per year
More expensive homes usually have a dwelling coverage of $2 million. For homes with higher dwelling coverage limits, the companies in Fort Worth that offer the most affordable home insurance, on average, are:
- Chubb: $7,159 per year
- Farmers: $12,439 per year
To see how the price changes based on dwelling coverage limits, use the table below.
The Cheapest Home Insurance in Fort Worth, Ranked
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In Fort Worth, policies with dwelling coverage limits of $250,000 have personal property coverage limits of $100,000. More expensive homes have higher coverage limits for dwelling and personal property. A policy that has a $2 million dwelling coverage limit has a personal property limit of $800,000. Liability coverage remains at $100,000 regardless of the dwelling coverage limit.
Homeowners can check how much home insurance is in Texas, even if they reside outside Fort Worth.
The Average Cost of Homeowners Insurance in Fort Worth for 2021
The average cost of homeowners insurance in Fort Worth is $4,090 per year or about $341 per month, making it more expensive than both the state and national averages. The average rate of home insurance in Texas per year is $3,390, which is lower than Fort Worth’s average. Compared to the national average of $2,103 per year, the difference is even bigger.
Calculate the Cost of Home Insurance in Fort Worth
The price of your home insurance policy may change depending on where you live in Fort Worth. That said, other factors contribute to how insurers compute for home insurance rates in Fort Worth. How much coverage you purchase to protect you against damages to your house and personal property affects your rate. Your credit score is another factor.
Using MoneyGeek’s home insurance, you can compare quotes within Texas.
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These are annual estimates. Get a personalized quote to determine your costs.
The Best Home Insurance Companies in Fort Worth
Price should not be the only basis of comparison when shopping for homeowners insurance in Fort Worth. A little bit of research about insurance providers can go a long way. Find out how financially stable they are and how satisfied their users are. Both of these are important when you file a claim.
MoneyGeek ranked several insurance providers in Fort Worth. The best home insurance companies are:
- Best Overall: USAA (available to current and former members of the military)
- Runner-up: Chubb
To determine the ranking of home insurance companies in Fort Worth, MoneyGeek used customer experience, financial stability and affordability.
If you decide to rent out a room or your entire property, you can avoid some expenses from being a landlord with a USAA policy. They offer home-sharing coverages for costs such as maintenance and repairs. USAA also offers discounts to homeowners who have security systems installed in their homes. You can even take advantage of discounts if you remain claim-free.
The top spot goes to USAA, with perfect scores for both financial stability and user satisfaction. Only current and former military members, as well as their families, are eligible to purchase USAA policies.Read MoneyGeek's USAA home Insurance Review
Chubb will assess your home for potential risks to ensure that you are sufficiently covered. This risk assessment is complimentary with their policy and safeguards you from dangers that you may not have seen. Regardless of the coverage limits stated in your policy, if your home does get damaged, Chubb will cover the expenses to have it rebuilt to meet its original state.
Chubb ranks second, scoring perfectly in the areas of affordability and financial strength. If your personal property is lost or damaged, Chubb does not compute for depreciation and reimburses based on the amount needed to replace it with new items.Read MoneyGeek's Chubb home Insurance Review
Cheapest Home Insurance Companies in Fort Worth for Newly Constructed Homes
In Fort Worth, an insurance policy for a newly constructed home is cheaper. Since they use materials that are more resistant to damage, homeowners with more recently built houses are less likely to file a claim. If they do file a claim, the materials used are easier for insurers to replace.
For a house with dwelling coverage limits of $250,000 that was built in 2000, home insurance amounts to an average of $4,090 per year. In comparison, a newly constructed house with the same dwelling coverage limits only costs roughly $2,609 annually.
On average, in Fort Worth, you can get the cheapest home insurance for more recently built homes from the following companies:
- Universal North America: $1,499 per year
- USAA: $1,942 per year (available to current and former members of the military)
The Cheapest Home Insurance in Fort Worth for New Homes, Ranked
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Cheapest Home Insurance Companies in Fort Worth if You Have a Lot of Personal Property
The personal property you keep at your home is covered against loss or damage by your home insurance in Fort Worth. You need to pay an average of $4,090 each year for a policy with personal property limits of $100,000. Since your premium is affected by the amount of personal property coverage you buy, increasing your personal property limits to $250,000 also makes your annual policy more expensive, costing $4,210 every year on average.
On average, the companies in Fort Worth offering the cheapest insurance for homes with personal property limits of $250,000 are:
- Chubb: $2,262 per year
- Universal North America: $2,419 per year
Cheap Companies in Fort Worth for Extra Personal Property Coverage
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Cheapest Home Insurance Companies in Fort Worth for High Deductibles
The amount of your deductible affects the price of your home insurance in Fort Worth. Since insurers have to pay more for policies that have lower deductibles, their premiums are usually higher.
Home insurance with a $1,000 deductible costs $4,090 per year. In comparison, having a $2,000 deductible increases the annual price to $3,588.
For policies that have $2,000 deductibles, the companies in Fort Worth that have the cheapest home insurance, on average, are:
- Chubb: $2,078 per year
- Universal North America: $2,062 per year
The Cheapest Companies in Fort Worth for High Deductibles, Ranked
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Cheapest Home Insurance Companies in Fort Worth if You Have Poor Credit
Fort Worth uses credit scores to determine how much home insurance policies cost. A homeowner with good credit standing is less likely to make a claim. They also give insurance providers confidence in their ability to pay their premiums each year. Because of this, policies for homeowners with good credit standing are usually lower.
If you have a good credit score in Fort Worth, you’ll pay an average of $4,090 per year. Having a poor credit standing more than doubles your policy’s price to an average of $8,716 per year.
On average, the companies that offer the cheapest home insurance to homeowners with poor credit scores are:
- Universal North America: $3,706 per year
- Chubb: $3,904 per year
The Cheapest Companies in Fort Worth for Poor Credit, Ranked
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Getting Online Homeowners Insurance Quotes in Fort Worth
If you want to compare home insurance quotes in Fort Worth, it's best to get several online. To make the process easier, make sure you have the following ready:
- Cost to replace your home – What determines your dwelling coverage limits is the amount needed to replace your home. To get an accurate assessment, it’s best to use a professional contractor or someone who works in construction.
- Value of your personal property – What determines your personal property coverage limits is the value of the personal belongings you want to have covered. It's a good idea to have an inventory of your possessions and their corresponding value.
- Personal information – Insurers will want to know your insurance history. They will also need more detailed information about your home, like your exact address, who lives in your home and more.
- Details about your home – There is certain information that insurers need to know about your home specifically. These include the age of your home, whether there are security systems installed and more.
Homeowners Insurance in Fort Worth Analysis: Methodology
MoneyGeek used quotes from homes with varying coverages using data provided in partnership with Quadrant. Quotes for newly constructed homes, higher coverages for dwelling and personal property, increased deductibles and poor credit scores were used as well. Ten home insurance companies from Fort Worth were included in this study and were analyzed using affordability, financial strength and user satisfaction.
An average homeowner’s profile has a 2,500 square foot home with a dwelling coverage of $250,000, personal property coverage of $100,000, liability coverage of $100,000 and a $1,000 deductible.
Additionally, customer satisfaction ratings were pulled from J.D. Power surveys.
About Mark Fitzpatrick