The Cheapest and Best Homeowners Insurance in Garland
The Cheapest Home Insurance Companies in Garland
Comparing policies from various home insurance companies in Garland shows you that similar coverages are offered. Because of this, you need to check the price since it becomes a determining factor when choosing which policy to purchase.
The average homeowner with a house with a $250,000 dwelling coverage can find the cheapest home insurance in Garland from the following companies:
- Chubb: $1,854 per year
- Universal North America: $2,324 per year
Dwelling coverage can increase to $2 million for more expensive homes. The companies that offer the cheapest home insurance for these, on average, are:
- Chubb: $5,786 per year
- Farmers: $12,351 per year
The table below shows you how prices change when dwelling coverage limits are adjusted.
The Cheapest Home Insurance in Garland, Ranked
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Personal property limits are based on a home’s dwelling coverage. Homes whose dwelling coverage limits are $250,000, which is the baseline for Garland, have personal property limits of $100,000. For homes with dwelling coverage limits amounting to $2 million, personal property limits increase to $800,000. Liability coverage, however, remains at $100,000 for all policies.
Even if you don’t live in Garland, you can still look up home insurance rates in Texas.
The Average Cost of Homeowners Insurance in Garland for 2022
On average, home insurance in Garland costs $3,989 per year or about $332 per month. It means homeowners in Garland pay $599 more each year compared to the average rate of home insurance in Texas, which is $3,390. They also pay $1,886 more each year than the national average, which is $2,103.
Calculate the Cost of Home Insurance in Garland
Since price is one of the main considerations when choosing a policy, you must understand how this is determined. Several factors affect the cost of home insurance in Garland – your location is only one of them. Other aspects that affect the computation are your dwelling and personal property coverages. In Garland, even your credit scores are considered.
Use MoneyGeek’s home insurance calculator to compare different policy rates in Texas.
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These are annual estimates. Get a personalized quote to determine your costs.
The Best Home Insurance Companies in Garland
More than price, there are other factors that you should consider when deciding on which home insurance provider to choose. Filing for claims is always a stressful situation, so you’ll want an insurer that provides quality service. Financial strength is another area to think about since financially stable companies will be able to pay out legitimate claims.
MoneyGeek has ranked the best home insurance companies in Garland. Those that topped the list are:
- Best Overall: Chubb
- Runner-Up: USAA (available to current and former members of the military)
To rank home insurance companies in Garland, MoneyGeek used financial stability, customer experience and affordability.
Purchasing a policy from Chubb means your home will be assessed for potential risks that you may have overlooked. It assures you that you will be appropriately protected should your home be damaged. If, however, the damage is so severe that your home is considered a total loss, you can choose to go for Chubb’s cash settlement instead of having your home rebuilt.
Coming out on top is Chubb, with perfect scores on affordability and financial stability. Regardless of your dwelling coverage limit, Chubb will pay for your home to be rebuilt to match its original state.Read MoneyGeek's Chubb home Insurance Review
For homeowners who are still on active duty, USAA’s policy covers them against damage or loss of their uniforms. It isn’t even taken against their deductible. Some homeowners decide to rent out rooms in their homes or even their entire property. Unknowingly, they may incur expenses associated with being a landlord. USAA offers home-sharing coverage, which protects them against these costs.
USAA ranks second among Garland insurance providers with perfect scores for customer experience and financial stability. Their policies can only be purchased by present and former military members and their families.Read MoneyGeek's USAA home Insurance Review
Cheapest Home Insurance Companies in Garland for Newly Constructed Homes
Home insurance for a home built in 2000 amounts to $3,989 per year or $332 per month. In comparison, home insurance for a newly constructed home is cheaper, costing roughly $2,844 per year.
Since more recently built homes use modern materials, they are less likely to get damaged. This means a lower probability of homeowners filing claims. If these homes do get damaged, insurers have an easier time finding replacement materials.
For newly constructed homes with $250,000 dwelling coverage limits, the companies who offer the cheapest home insurance in Garland, on average, are:
- Chubb: $1,322 per year
- Universal North America: $1,657 per year
The Cheapest Home Insurance in Garland for New Homes, Ranked
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Cheapest Home Insurance Companies in Garland if You Have a Lot of Personal Property
Standard home insurance policies in Garland cost, on average, $3,989 per year or approximately $322 per month. This includes a personal property coverage limit of $100,000. If you think the value of your belongings exceeds this, you can opt to increase your personal property limit. In turn, however, it also increases the rate of your home insurance.
For example, increasing your personal property limits to $250,000 also increases the price. The home insurance rate in Garland for a higher personal property limit is $4,322 per year.
On average, for homes with personal property limits of $250,000, homeowners can find the cheapest home insurance in Garland from the following companies:
- Chubb: $2,009 per year
- Universal North America: $2,518 per year
Cheap Companies in Garland for Extra Personal Property Coverage
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Cheapest Home Insurance Companies in Garland for High Deductibles
Another factor that affects the price of home insurance in Garland is the deductible. This is the amount you pay out-of-pocket when making a claim. The higher your deductible is, the lower your annual premium becomes.
A policy with a $1,000 deductible costs, on average, $3,989 per year. If you increase your deductible to $2,000, the price of your policy decreases to $3,526 per year.
On average, in Garland, the cheapest home insurance companies for policies with a $2,000 deductible are:
- Chubb: $1,639 per year
- Universal North America: $2,055 per year
The Cheapest Companies in Garland for High Deductibles, Ranked
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Cheapest Home Insurance Companies in Garland if You Have Poor Credit
A good credit score gives insurers confidence in your ability to pay their premium each year. You can still get home insurance if your credit score is poor, but your policy will be more expensive.
In Garland, a homeowner with good credit standing has a home insurance policy that costs, on average, $3,989 per year. In comparison, poor credit scores make a policy twice as expensive at roughly $8,431 per year.
On average, the best home insurance companies in Garland for homeowners with poor credit scores are:
- Chubb: $3,198 per year
- Universal North America: $3,665 per year
The Cheapest Companies in Garland for Poor Credit, Ranked
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Getting Online Homeowners Insurance Quotes in Garland
Getting home insurance quotes online is relatively easy as long as you have the following information ready:
- Your home’s replacement cost – If your home is damaged, the cost to rebuild it determines your dwelling coverage limits. The best person to give an estimate of this is a construction professional or a contractor.
- Your personal property’s value – Keeping an inventory of your belongings and their value is good practice. How much your personal property costs help you determine your personal property coverage limits.
- Your personal information – Insurers want to know how many people reside in your home, as well as its location. Your address is factored in, as it gives insurers an idea of how safe your neighborhood is. Home insurance quotes may vary between zip codes.
- Your home’s details – Whether you have security devices installed in your home is crucial information as it may reduce the rate. Insurers may also ask about the age of your home and the materials used to construct it.
Homeowners Insurance in Garland Analysis: Methodology
MoneyGeek used sample profiles to research homeowners insurance quotes. The profile of an average homeowner includes a 2,500 foot home built in 2000 with a $250,000 dwelling coverage limit, $100,000 coverage limits each for personal property and liability and a $1,000 deductible.
The basis for comparison included quotes from homes with varying coverages. Quotes for newly constructed homes were also gathered by MoneyGeek to complete this study, along with those for homeowners with poor credit scores and homes with increased dwelling and personal property coverages. Rates for homes with higher deductibles were included as well.
Customer satisfaction scores were based on survey results from J.D. power, while affordability was computed using data provided in partnership with Quadrant. A total of ten companies were analyzed by MoneyGeek.
About Mark Fitzpatrick
- Coverhound. "Do Crime Rates Affect Your Home Insurance Costs." Accessed April 27, 2021.
- Macrotrends. "Garland TX Crime Rate 1999-2018." Accessed April 27, 2021.
- Safewise. "Can Purchasing a Home Security System Decrease My Homeowners Insurance?." Accessed April 27, 2021.