The Cheapest and Best Homeowners Insurance in San Antonio
The Cheapest Home Insurance Companies in San Antonio
San Antonio insurers typically offer similar standard coverages. Rates vary significantly across the companies, and you will need to carefully consider the cost of your policy before purchasing it.
The cheapest companies for homeowners insurance in San Antonio for a dwelling coverage of $500,000 are:
- Universal North America: $1,146 per year
- Farmers: $1,174 per year
Your exact cost may differ from these averages considerably depending on several factors, including the coverage amount you choose.
The rates may also change based on dwelling coverage limits. For instance, the cheapest providers for expensive homes that have a dwelling coverage limit of $2,000,000 are:
- Farmers: $4,746 per year
- Chubb: $5,018 per year
You can compare prices for varying dwelling coverage limits using the following table.
The Cheapest Home Insurance in San Antonio, Ranked
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The sample homeowners insurance policy used in this research has a dwelling coverage limit of $250,000 and a personal property coverage limit of $100,000. For a dwelling coverage limit of $2,000,000, the personal property coverage limit will increase to $800,000. For all homeowners insurance policies considered in the city, the liability coverage is a standard amount of $100,000.
Homeowners elsewhere in Texas can use MoneyGeek’s analysis to compare cheap insurance quotes in the entire state.
The Average Cost of Homeowners Insurance in San Antonio for 2022
The average cost of homeowners insurance in San Antonio is $2,317 per year. This cost is lower than the state average by $1,073 and higher than the national average by $214 per year.
Calculate the Cost of Home Insurance in San Antonio
Where you live in San Antonio can influence how much you pay for homeowners insurance. However, it is not the only determinant for your rates. Other factors include your credit score, dwelling coverage limit and personal property coverage limit. If you are looking for the best policy for your home, you can compare quotes from different insurers using the MoneyGeek calculator.
Home Insurance Calculator
These are annual estimates. Get a personalized quote to determine your costs.
The Best Home Insurance Companies in San Antonio
MoneyGeek ranked the best homeowners insurance providers in San Antonio based on financial stability, affordability and customer satisfaction scores. Aside from the cost of insurance, you should consider these three factors when purchasing your homeowners insurance policy in the city. Companies with the best claims experience, for instance, are likely to settle your claims more easily.
From MoneyGeek’s analysis, the top two providers of homeowners insurance in San Antonio are:
- Best Overall: Farmers
- Runner-Up: Chubb
Farmers insurance policies usually have a declining deductible, with costs reducing by $50 every year. With Eco-Rebuild coverage, you can get an additional $25,000 if you file a claim on a home that uses green alternatives. You also get better rates if you do not make a claim within the first five years.
Farmers provides the best homeowners insurance rates in San Antonio and ranks highly across the three categories. Policyholders can add Identity Shield coverage to their policies to get protection from the cost of damage caused by identity theft.Read MoneyGeek's Farmers home Insurance Review
Chubb policies do not consider the depreciation of your personal property during replacement. Homeowners with a policy from the company get new items of the same quality and type as the lost or damaged ones. The policies also have a complimentary risk consulting service where the company inspects your home to ensure you are shielded from potential risks. After your home is damaged, Chubb reimburses you in cash.
Chubb is the second-best provider of homeowners insurance in San Antonio and one of the few companies that rebuilds your damaged home to its original state, even if the cost is higher than your policy limits.Read MoneyGeek's Chubb home Insurance Review
Cheapest Home Insurance Companies in San Antonio for Newly Constructed Homes
If you purchase a newly constructed home in San Antonio, you will pay less for homeowners insurance than individuals with older homes. That’s because new homes are built with modern materials that are less prone to damage and easy to replace, meaning that you are less likely to file a claim.
Homeowners insurance in San Antonio costs an average of $1,515 per year for newly constructed homes and $2,317 on average for homes built in 2000.
The cheapest providers of homeowners insurance for individuals with a newly purchased home and a dwelling coverage limit of $250,000 are:
- Universal North America: $750 per year
- Farmers: $817 per year
The Cheapest Home Insurance in San Antonio for New Homes, Ranked
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Cheapest Home Insurance Companies in San Antonio if You Have a Lot of Personal Property
Homeowners insurance protects your home and personal property in the event of damage. If you have a lot of property, you may need to purchase more coverage at an extra cost. In San Antonio, homeowners insurance costs an average of $2,393 per year for a personal property limit of $250,000 and $2,317 for a personal property limit of $100,000.
Based on MoneyGeek's study, the cheapest providers of homeowners insurance in San Antonio with high personal property limits are:
- Universal North America: $1,184 per year
- Farmers: $1,216 per year
Cheap Companies in San Antonio for Extra Personal Property Coverage
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Cheapest Home Insurance Companies in San Antonio for High Deductibles
The deductible refers to how much you pay out of pocket once your insurer approves the request to settle your claims. Policies with higher deductibles often feature lower monthly costs than those with lower deductibles. For instance, a policy with a deductible of $2,000 costs an average of $2,052 per year, while one with a deductible of $1,000 costs $2,317 per year.
On average, the insurance companies in San Antonio with the lowest rates for high deductibles are:
- Farmers: $940 per year
- Universal North America: $1,015 per year
The Cheapest Companies in San Antonio for High Deductibles, Ranked
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Cheapest Home Insurance Companies in San Antonio if You Have Poor Credit
One of the many factors that determine your homeowners insurance cost in San Antonio is your credit score. With a bad credit score, you are likely to pay more because you are highly likely to file claims.
Homeowners with poor credit scores pay an average of $4,811 per year, while those with good scores pay an average of $2,317 per year.
The cheapest companies to get homeowners insurance from if you have a poor credit score are:
- Universal North America: $1,789 per year
- Chubb: $2,776 per year
The Cheapest Companies in San Antonio for Poor Credit, Ranked
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Getting Online Homeowners Insurance Quotes in San Antonio
Insurers in San Antonio request a variety of information before processing your online request for a quote. This includes:
- Home replacement cost - Insurers do not use the actual market value of your home to calculate your dwelling coverage limits. Instead, they use the cost of rebuilding it in case of damage. That is called the home replacement cost, and you can obtain it by working with a construction professional or building contractor.
- Personal property value - This refers to the value of your personal items found in your home. Insurers use this value to come up with your personal property limits.
- Personal information - Insurers will need information about your home, the number of people living in the building and your insurance history.
- Property information - Insurers will also ask for the year of construction of your home, its size and whether you have safety devices installed.
Homeowners Insurance in San Antonio Analysis: Methodology
MoneyGeek obtained the scores for this study using a base profile of a 2,500-square-foot home constructed in 2000. The policy’s dwelling coverage limit is $250,000. It has a personal property coverage limit of $100,000, a liability coverage limit of $100,000 and a deductible of $1,000.
MoneyGeek obtained this information in partnership with Quadrant. The analysis covers 10 companies in the city. MoneyGeek obtained affordability scores using a home that featured varying coverage limits, while customer satisfaction scores were from J.D. Power.
About Mark Fitzpatrick