Cheapest Homeowners Insurance in Texas (2024 Rates)

When it comes to home insurance in the Lone Star State, you have various options to choose from based on your specific needs. While Farmers stands out as the cheapest overall choice, State Farm takes the lead for high-value homes. Nationwide is the top pick for new homes and those with poor credit scores.

Farmers is the cheapest home insurance provider in Texas, with an average premium of $2,084 per year for $100K in dwelling coverage. If you need higher limits, shop around to find the most affordable rates depending on your dwelling coverage.

Here are the cheapest providers for varying dwelling coverage limits in Texas:

• Cheapest for $100,000: Farmers at $2,084 per year
• Cheapest for $250,000: State Farm at $3,334 per year
• Cheapest for $500,000: State Farm at $5,227 per year

Shop around and compare cheap home insurance using MoneyGeek's table below and see how rates vary depending on your dwelling coverage limits.

To secure cheap home insurance in Texas, compare prices from different insurance companies. Use MoneyGeek’s home insurance calculator for an efficient way to access Texas quotes without needing to share personal details initially.

In Texas, State Farm is the most affordable home insurance provider for high-value homes, with rates of $7,391 annually for $750K in dwelling coverage. Since higher-value homes usually cost more to rebuild, they often require higher coverage limits, leading to higher premiums.

Here are the cheapest insurance providers in Texas for higher dwelling coverage limits:

• Cheapest for $750,000: State Farm at $7,391 per year
• Cheapest for $1,000,000: Farmers at $8,978 per year

The dwelling coverage limit of your home should not be based on the property value itself but on the replacement cost. Compare insurance prices using the table below for higher dwelling coverage limits.

For new homes in Texas, the most budget-friendly home insurance provider is Nationwide, offering $100K in dwelling coverage at $719 annually. Modern and resilient construction materials lead to cheaper insurance costs for newly built homes.

Nationwide is the cheapest option in Texas for various coverage limits:

• Cheapest for $100,000: Nationwide at $719 per year
• Cheapest for $250,000: Nationwide at $1,172 per year
• Cheapest for $500,000: Nationwide at $2,006 per year

Compare different premiums based on your dwelling coverage using the table below.

The cheapest home insurance in Texas for those with poor credit scores is offered by Nationwide at $4,090 per year for $100K in dwelling coverage. Insurers view homeowners with poor credit scores as high risk and increase their premiums.

Nationwide offers the lowest premiums for varying dwelling coverage limits in Texas:

• Cheapest for $100,000: Nationwide at $4,090 per year
• Cheapest for $250,000 Nationwide at $7,478 per year
• Cheapest for $500,000 Nationwide at $13,254 per year

Insurance companies charge higher premiums for those with poor credit than those with good credit. For example, for $100K in dwelling coverage in Texas, those with poor credit scores pay an average of $7,201 annually, compared to $2,861 for those with good credit scores.

For homeowners in Texas with one claim in the past five years, State Farm offers the most affordable premium at $2,107 per year for $100K in dwelling coverage. Home insurance is cheaper for those who don't have previous claims.

State Farm is the cheapest option for various dwelling coverage levels for homeowners with one claim within the past five years. Here are the lowest rates for several coverages:

• Cheapest for $100,000: State Farm at $2,107 per year
• Cheapest for $250,000: Chubb at $3,334 per year
• Cheapest for $500,000: State Farm at $5,227 per year

Those who don't have any claims from the past five years pay an average of $1,441 annually, compared to those who have at least one claim in the last five years, who pay an average of $2,345 per year.

Construction type and roofing can affect your insurance cost in Texas. For homes with frame construction and shake-treated roofs, State Farm offers the lowest annual premium at $2,107 for $100K in dwelling coverage. These features are typically more costly to insure due to their higher vulnerability to damage.

Here are the cheapest options for frame-type homes with shake-treated roofs for different dwelling coverage limits:

• Cheapest for $100,000: State Farm at $2,107 per year
• Cheapest for $250,000: State Farm at $3,334 per year
• Cheapest for $500,000: State Farm at $5,227 per year

Switching from frame construction with a shake-treated roof to a superior construction with a tile roof can reduce your annual premium by about $1,354. Given Texas's exposure to severe weather, investing in higher-quality building and roofing materials can lead to significant annual savings on your home insurance premiums.

In Texas, you can save hundreds per year by altering your deductible. For instance, the cheapest home insurance in Texas for a $2,000 deductible is from Farmers with an annual premium of $1,503. The cheapest for a $500 deductible is State Farm, costing $2,107 annually.

The most affordable companies for each deductible level are:

• $2,000 deductible: Farmers at $1,503 per year
• $1,500 deductible: Farmers at $1,786 per year
• $1,000 deductible: Farmers at $2,084 per year
• $500 deductible: State Farm at $2,107 per year

A deductible is the amount you pay out of pocket before insurance covers the rest. Notably, the average premium among all insurers is $475 more expensive annually for $500 deductible policies than $2,000 deductible policies.

The most budget-friendly home and auto bundle option in Texas is from State Farm at just $3,421 annually. Combining home and auto insurance can give you considerable discounts. Here are more affordable options:

• State Farm at $3,421 per year
• Progressive at $4,461 per year
• Nationwide at $6,677 per year

Besides cost savings, bundling simplifies your insurance management, allowing you to deal with just one insurer. Discover the benefits by exploring the best Texas insurance bundle.

Chubb is the most affordable option in most cities in Texas, with rates ranging from $865 to $2,728. These costs can vary significantly across cities due to local building codes, crime rates and weather-related risks.

• For instance, El Paso has the cheapest home insurance, costing an average of $865 annually from IAT Insurance.
• League City has the most expensive home insurance, the cheapest being from State Farm at $2,472 per year.

To find the cheapest home insurance in your area, shop and compare premiums between insurers.