The Cheapest and Best Homeowners Insurance in Irving
The Cheapest Home Insurance Companies in Irving
In Irving, the core coverages offered by most homeowners insurers are similar, so cost should be a key consideration when picking a policy.
For the average homeowner, the cheapest insurance companies in Irving for home insurance with $250,000 in dwelling coverage are:
- Chubb: $1,854 per year
- Universal North America: $2,324 per year
For expensive homes, the cheapest insurance companies in Irving for home insurance with $2,000,000 in dwelling coverage are:
- Chubb: $5,786 per year
- Farmers: $12,247 per year
Home insurance rates vary depending on the dwelling coverage limit. You can use the table below to compare rates based on different dwelling coverage limits.
The Cheapest Home Insurance in Irving, Ranked
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In this analysis, all policies with the initial baseline dwelling coverage of $250,000 have personal property limits of $100,000, while policies with a $2,000,000 dwelling coverage limit have personal property limits of $800,000. All policies have $100,000 in liability coverage.
Texas residents living outside of Irving can compare homeowners insurance rates for Texas as a whole to find the best rates.
The Average Cost of Homeowners Insurance in Irving for 2022
In Irving, homeowners insurance costs an average of $3,934 per year, which is slightly higher than the Texas state average of $3,390 per year. Homeowners insurance rates in Irving are significantly higher than the national average of $2,103 per year.
Calculate the Cost of Home Insurance in Irving
One of the factors that impact homeowners insurance rates in Irving is location. However, other criteria such as the dwelling coverage limit purchased, personal property coverage and your credit score will also impact the cost of homeowners insurance.
To find the best rates in your state, you can use MoneyGeek’s home insurance calculator to compare quotes.
Home Insurance Calculator
These are annual estimates. Get a personalized quote to determine your costs.
The Best Home Insurance Companies in Irving
While cost is always important when picking a homeowners insurance policy, you should also factor in the insurer’s customer service track record and financial stability. This will ensure that you work with a provider who will process your claim promptly and fairly.
Based on MoneyGeek’s unique rating system, the best homeowners insurance companies in Irving are:
- Best Overall: Chubb
- Runners Up: USAA (only available for current and former military members)
MoneyGeek’s rating system incorporates affordability scores, user satisfaction ratings and financial stability scores to rank the best home insurance companies in Irving.
Along with affordability, Chubb offers homeowners superior coverage that comes with the option of a cash settlement if their home is destroyed. Chubb policies don't account for depreciation when replacing your personal property, so you'll get new items just as good as your old ones. Considering these coverage benefits, Chubb offers the best balance of affordability and coverage for Irving residents.
Chubb scored highest on MoneyGeek’s ranking system, achieving perfect affordability scores. Chubb policies pay to have your home rebuilt to its original condition even if the cost exceeds your policy limit.Read MoneyGeek's Chubb home Insurance Review
USAA has unique coverage benefits that set it apart from other home insurance providers in Irving, including home-sharing coverage for those renting out a room in their home. This policy also comes with deductible-free coverage for loss of uniforms for active service members. Irving homeowners covered by USAA are also eligible for discounts if they have protective security systems in their homes.
USAA is MoneyGeek’s runner-up pick based on its perfect customer satisfaction ratings as scored by J.D power as well as its affordability scores. However, this policy is only available to current and former members of the military.Read MoneyGeek's USAA home Insurance Review
Cheapest Home Insurance Companies in Irving for Newly Constructed Homes
If you have a newly constructed home in Irving, you will pay lower premiums compared to someone with an older home. This is because modern building materials are more damage resistant and easier to replace if your home gets damaged.
In Irving, it costs an average of $2,805 per year to insure a newly constructed home, while insuring a home built in 2000 costs roughly $3,934 yearly.
For newly constructed homes in Irving with $250,000 in dwelling coverage, the cheapest homeowners insurance companies on average are:
- Chubb: $1,322 per year
- Universal North America: $1,657 per year
The Cheapest Home Insurance in Irving for New Homes, Ranked
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Cheapest Home Insurance Companies in Irving if You Have a Lot of Personal Property
When you purchase homeowners insurance in Irving, damage to your personal property is covered under the policy. The rate you pay for your home insurance will depend on the value of the property you want to be covered, with high personal property limits costing more.
In Irving, a standard policy with personal property limits of $250,000 costs an average of $4,263 yearly compared to $3,934 per year for $100,000 in personal property limits.
On average, the cheapest insurance companies in Irving for those with personal property coverage limits of $250,000 are:
- Chubb: $2,009 per year
- Universal North America: $2,518 per year
Cheap Companies in Irving for Extra Personal Property Coverage
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Cheapest Home Insurance Companies in Irving for High Deductibles
When purchasing a homeowners insurance policy in Irving, the deductible you choose will significantly impact the premiums you pay. A high deductible means that you will pay lower premiums per year, but you will pay more money out of pocket in case you file a claim.
On average, a home insurance policy with a $2,000 deductible costs $3,478 per year compared to $3,934 yearly for a $1,000 deductible policy.
The cheapest homeowners insurance companies on average in Irving for those with policies with $2,000 deductibles are:
- Chubb: $1,639 per year
- Universal North America: $2,055 per year
The Cheapest Companies in Irving for High Deductibles, Ranked
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Cheapest Home Insurance Companies in Irving if You Have Poor Credit
Homeowners insurance companies in Irving factor in your credit score when determining quotes. This is because people with poor credit scores tend to be more likely to file claims, making their insurance policies more expensive.
On average, a home insurance policy for someone with poor credit costs $8,335, while those with good credit pay roughly $3,934.
The cheapest homeowners insurance companies on average in Irving for those with bad credit are:
- Chubb: $3,198 per year
- Universal North America: $3,665 per year
The Cheapest Companies in Irving for Poor Credit, Ranked
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Getting Online Homeowners Insurance Quotes in Irving
Homeowners in Irving can get home insurance quotes online by submitting detailed information to the insurer. Here are some of the details the insurer needs to provide a quote:
- Personal information: You will need to provide the insurer with personal details, including your address, information about who lives in your home, your previous insurance record and more.
- The replacement cost of your home: Your dwelling coverage limit depends on the cost it would take to rebuild your home as it is. This means the insurer needs to know the replacement cost of your home. A construction professional will be able to give you an estimate of this cost. It is important to note that the replacement cost does not refer to the market value of your home.
- The value of your personal property: The cost of home insurance is impacted by the value of the personal property inside your home that you want to be covered. Your insurer needs to know this value to provide a quote.
- Details about your house: The insurer will want to know details about your house, including when it was built, size and if there are any safety devices installed.
Homeowners Insurance in Irving Analysis: Methodology
For this study, MoneyGeek analyzed home insurance rates from 10 companies in Irving. Data was provided in partnership with Quadrant. To calculate affordability scores, quotes were collected for a home with varying coverage levels.
In this analysis, the base profile of the average homeowner is someone who has a 2,500 square-foot home built in 2000, dwelling coverage of $250,000, personal property coverage of 100,000 and liability coverage of $100,000. All policies have deductibles worth $1,000.
MoneyGeek also collected for homeowners with newly constructed homes, increased dwelling or personal property coverage, higher deductibles and poor credit scores. The customer satisfaction ratings used in this study were drawn from J.D. Power surveys.
About Mark Fitzpatrick