855.214.2291 Texas Homeowners Insurance
November 10, 2020
Homeowners Insurance in Texas: Complete Consumer Guide
Are you thinking of becoming a homeowner in texas or are already one? Here are some facts about your home state. The Lone Star State’s flag has only one star. Texas is known for oil rigs (hundreds of them) and the world’s best barbecue. Austin is known for its music and for being home to the fastest road in the country. The popular soft drink Dr. Pepper was invented in Texas. In this state, the power grid is separate from the rest of the U.S. The Great Galveston Hurricane of 1900 is still the deadliest natural disaster in U.S. history. Three cities in Texas rank in the top 10 most populous cities in the U.S. The name Texas comes from the greeting Spanish settlers used, “tay-yas” which means “friends.” There are many ranches in Texas, and the Interior Lowlands has some of the biggest ones. When it comes to wildlife, armadillos, black bears, cougars and leopard frogs are found here. And Texas has about 12 million cattle, more than any other state in the union. Two U.S presidents were born in Texas: Dwight D. Eisenhower and Lyndon B. Johnson. If you like rodeos, Texas has thousands of them as well as real life cowboys.
Types of Homeowners Insurance policies in Texas
HO-1 is the most basic type of home insurance policy but many carriers do not offer it.
HO-2 covers a bit more than the basic form, but is still limited in scope and less commonly used than the HO-3 form.
HO-3 is the most common type of homeowners insurance policy and has a broader coverage than the HO-2 form.
HO-5 is the most comprehensive form of homeowners insurance. It’s the most common type of homeowners insurance after the HO-3.
HO-6 is for condo owners, and is usually a walls-in policy that doesn’t cover much of the structure if at all.
HO-8 is a special type of homeowners insurance policy for homes that don’t meet the standards for other policy forms.
What factors affect rates on homeowners insurance in Texas?
Many factors affect homeowners insurance rates including the age of the house and roof, construction type/materials, pools and trampolines, wood-burning stoves, home business, home security and safety (neighborhood crime rates), dog bites and the number of claims you’ve filed in the past. Of course your credit matters too, and it pays to bundle home and auto for price breaks.
Top 5 disasters in the State of Texas
Texas federally declared Fire as the most common disaster with 250 counts since 1953, followed by Flood, Hurricane, Severe Storms, and Tornado disasters. Fire or Lightning disasters is one of 16 perils covered on standard homeowners policies. Here are the top 5 disasters in the state of Texas:
| Rank | Declaration Title | Disaster Number |
|---|---|---|
| 1> | Fire | 250 |
| 2 | Flood | 40 |
| 3 | Hurricane | 23 |
| 4 | Severe Storms | 20 |
| 5 | Tornado | 15 |
Source: Federal Emergency Management Agency (FEMA)
How much is homeowners insurance in Texas?
The average homeowners insurance policy in texas costs about $1,140, but many factors can affect your rate so it’s a good idea to shop and compare prices.
Source: The average cost of homeowners insurance by state, Business Insider.
Crime Rate: Is Texas a safe state?
| 2019 Crime in Texas | Crime Number | Crime Rate* |
|---|---|---|
| Property Crime | 693,204 | 2,390.7 |
| Burglary | 113,902 | 392.8 |
| Larceny-Theft | 501,813 | 1,730.6 |
*Rate per 100,000 inhabitants
Safest Cities in Texas by Property Crime*
- Fate, TX has a population of 15,378 with a Property Crime rate of 4.7 per 1k. The city average home value is approximately $275,138.
- Trophy Club, TX has a population of 13,031 with a Property Crime rate of 4.9 per 1k. The average home value there is about $489,383.
- Horizon City, TX came in third as the safest city in the state of Texas and has a population of 20,131 with a Property Crime rate of 5 per 1k. Its home value averaged at about $144,237.
- Murphy, TX has a population of 20,962 with a Property Crime rate of 5 per 1k. Its average home value is $409,582.
- Memorial Villages, TX has a population of 12,472 with a Property Crime rate of 6 per 1k. The city home value averaged $828,439.
*Based on FBI Uniform Crime Reporting 2019, some cities have been eliminated because of changes in the state/local agency's reporting practices and cities with populations under 10,000. Zillow’s State/Cities average home value for a single family home or a condo as of Sept. 2020.
Compare Home Insurance Rates in Texas
Top homeowners insurance companies in Texas
Amica received mostly 5/5 stars from J.D. Power and superior ratings from A.M. Best and Better Business Bureau. Amica offers property replacement, identity fraud protection and separate flood and earthquake policies. Members also get 5 to 20% of their annual premium back each year.
State Farm comes in close behind Amica’s ratings in Texas, with mostly 4/5 from J.D. power and great ratings from A.M. Best and Better Business Bureau.
Allstate comes in third with 3/5 stars from J.D. Power and high marks from A.M. Best and Better Business Bureau. Allstate offers many ways to save each month on premiums.
For military family members, however, there’s no way to beat USAA, which received all 5’s from J.D. Power and high ratings from A.M. Best and Better Business Bureau.
Texas Home Insurance FAQs
Why is home insurance so expensive in Texas?
Residents in Texas pay higher premiums for homeowners insurance than in other states, due to extreme weather, including hailstorms, windstorms, tornadoes and hurricanes.
How to shop for home insurance in Texas?
The best way to shop for home insurance in Texas is by comparing rates with SmartFinancial with over 200 insurers to find the best value.
How long do I have to file a home insurance claim in Texas?
Most homeowners insurance policies have a one-year deadline unless you can show good cause for filing late.
Get a Free Home Insurance Quote Online Now.
Related Articles
At the top of the list, is reviewing insurance policies. Are you getting the coverage you need at the price you want? If not, it may be time to change policies. Need a different price? Shop around for better offers.
Gutters and downspouts work to navigate water flow off the roof so that there is no standing water that can lead to complications such as rotting wood, rotting fascia and foundation cracks
Looking for Home Insurance?
Compare rates from dozens of companies in less than 3 minutes.
Do you hear gurgling or trickling noises from the toilet? Does water drain more slowly than usual? Do you have a sink hole in your yard suddenly? Is your grass suddenly vibrantly green in patches?
If you're a new homeowner or if you simply decided to look into what homeowners insurance covers, you probably have a few questions about your policy. We have answers.
Keep in mind that in order to get paid for the tree removal you will have to first pay your deductible. Your deductible costs anywhere between $250 and $1,000 so it may make sense for you to pay for the tree removal out-of-pocket. Also, your rate may go up if you file a claim. Is it worth it?
With all the benefits that come with owning a swimming pool there are also risks, which is why swimming pools are often called “an attractive nuisance.” According to the Centers for Disease Control and Prevention (CDC), approximately 10 people die from unintentional drowning.
Mortgage payments and possibly a homeowners warranty aren’t the only costs of owning a home. Nope, it doesn’t end with taxes and homeowners insurance either. Most people who set out to buy their first home are in for a surprise when the closing date approaches and they learn that they owe all sorts of money for the house they just bought.
Homeowners insurance was not designed to cover small or even big fixes, but to repair damage that is covered under the stipulations of your policy. In fact, you may end up paying more in monthly premiums if you file a claim that gets rejected. For this reason, we advise you to fully review your case and your policy to see if you’re covered before filing a claim.
Homeowners insurance is an important protection to have even when it’s not required for a primary home, a vacation home or condo.