Waco, TX Home Insurance Quotes!

Homeowners living in Waco, TX can find more affordable home insurance premiums when they shop multiple insurance companies with GetHomeInsuranceQuotes.com. We can compare cost amongst different providers, but can also review better coverage options. Savings for Waco residents also comes in when you apply the available discounts and credits toward your home insurance policy.

Waco's Average Homeowners Premiums & Discounts

Residents of Waco are higher than average when it comes to the cost of insuring their home. Waco ranks number 4 in a recent study with the average premium coming in at $1,503 per year or around $125 per month. With a slightly increased deductible and applying discounts, customers are seeing rates much lower around $1,253 per year.

While Waco homeowners already enjoy pretty reasonable homeowners rates, there are always ways to find more affordable home insurance coverage. Opting to receive your bills and policies via email instead of through snail mail will garner a small discount, somewhere in the range of 5 percent.

Paying your annual premium up front can also result in a small discount. Experts recommend paying in full if you can afford it. While neither of these discounts is huge on their own, added up they can make a real difference. Please visit our homeowners insurance discounts page to learn how to easy it is to cost on your premium.

Factors to Consider in Waco, TX

Waco’s crime rate is slightly above other areas in Texas. Despite the fact that Waco is a pretty safe place to live, crime can definitely affect your homeowner rates. When shopping for a new home, check crime rates online and request free quotes from us to get an idea of insurance costs in that area.

Most insurance experts advise consumers to shop their insurance at least once a year. If you are currently shopping your policy for your home in Waco, we can help. The online quoting process is free, quick and easy. Our insurance partners are top rated carriers who have been in business for several decades and will provide you with the best rates available. Start your Waco, TX home insurance quote today by entering your zip code. Or give us a call now for free home insurance quotes 1-866-502-7287!

Waco, TX Home Facts

The city of Waco in Texas is roughly around 124,805 residents in population size with 46402 occupied homes within the city of Waco. The average family household in Waco is 27115.

Demographic	Values
Population	124,805
Total Occupied Households	46402
Family Households (families)	27115
Average Owner Occupied Household Size	2.70
Average Family Size	3.21
Total Housing Units	51452

Compare Homeowners Insurance Rates in Waco, TX!

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About Our Service in Texas

We are providing the most competitive homeowners insurance rates in Texas. Our quoting process is very quick and easy to use when you want to compare over 16 competitive rates all in one place. Our office is located in the heart of Austin, Texas and we are ready to help you compare the most affordable home insurance options and discounts with the most enhanced coverage options. Our rates will be generated from companies like: American Risk Insurance, Bankers Insurance Group, Centauri, Cypress Texas Insurance, Encompass Insurance, GeoVera Specialty, Gulfstream Property & Casualty, Home Owners of America, Lighthouse Property Insurance, Mission Select, TWICO, Universal North America (UIHNA), United property and casualty, Wellington, American Modern, Safeco and many more. Let us help you shop the lowest Texas rates available, start your quote online now or give us a call at 877-480-7274. We look forward to working with you!

Average Rates Nearby Waco

Are you looking for homeowners insurance in a city near Waco? Review coverage options and average rates in your area by clicking your city below. We can help you shop home insurance rates!

Home Insurance Rates by Zipcode in Waco, TX

Easily review average rates and get multiple homeowners insurance quotes by clicking your zip code below located in Waco.

76701, 76704, 76705, 76706, 76707, 76708, 76710, 76711, 76798,

Waco, TX Home Insurance Average Premiums

Local Waco, TX home insurance quotes comparison

$1253 /yr.

Shows Waco's lowest average rates with discounts applied.

For the city of Waco, homeowners insurance rates may vary on deductible, coverage amount and property details. Below is a list of the averages based on the cost of an annual home insurance premium.

Coverage Amount:	Annual Premium
1800 sq. ft. or below (discounts applied)	$1253 /yr.
Average Coverage:	$1503 /yr.
2600 sq. ft. or higher (all discounts applied)	$1803 /yr.

What is the average home insurance cost for a home in Waco, TX?

• The average homeowners insurance premium paid annually for a home in Waco is around $1503 per year.

What does it cost on average per month for home insurance in Waco, TX?

• Homeowners in Waco pay an average cost per month around $125.00 for insurance coverage.

Waco, TX - 2023 Housing Information

Month	Current Home Value (2023)	Last Year Home Value (2022)
January	$217,591	$195,288
February	$217,058	$199,815
March	$217,139	$205,337
April	$217,580	$210,094

Homeowners insurance will help cover the cost to repair or replace your Waco home if it is damaged or destroyed by a covered peril, up to your coverage limits. A homeowners policy is made up of a few different coverages. Here are the most common coverages:

Dwelling: This coverage will pay to repair or replace the structure of your home if it is damaged or destroyed. Review and Calculate Replacement Cost Coverage in Waco
Liability: This coverage will help cover medical and legal bills if someone is injured in your home, slipping on an icy sidewalk for example. It also offers protection if you damage another person’s property, your child hitting a baseball through a neighbor’s window for example.
Contents: This covers the cost to replace your personal possessions that are destroyed by a covered peril. Furniture, electronics, clothing and household goods are excellent examples. Contents coverage is often capped at 50% to 70% of your dwelling coverage.
Other Structures: This coverage protects other structures on your property such as detached garages, outbuildings, barns, and sheds.
Loss of use: This covers everyday costs that you incur if you cannot live in your home while it is being repaired due to a claim. It will pay hotel and restaurant bills and even the cost of dry cleaning.

Get up to 12 competitive Waco, TX homeowners insurance rates all in one place!

Saving Money Tips on Waco Home Insurance

A great way to save money on Waco homeowners insurance is to make sure you are getting all the discounts you are qualified to receive. Here are just a few of the most common discount’s insurers offer:

Bundling: If you purchase your home and auto (or any other insurance coverage) from the same insurer, you should get a bundling discount. Expect to save 20%-25%.
Secure your home: Adding a monitored security system, water leak sensors, deadbolts, and smoke detectors should result in a discount.
Impact resistant roof: If you are replacing your roof, consider impact resistant roofing materials which help prevent hail and impact damage as well as resulting in a significant discount.
Stay claim free: If you have been claim free for a number of years (five is a common requirement) your insurer should offer a claim free discount.

Are you shopping for the best rate near or wihin the Waco area? Check out what homeowners are paying on average for Texas homeowners insurance.

Elevation Review for Coastal Wind or Flooding Risk

Elevation	Details	Homeowners Tips
482 ft.	This is the average home elevation in Waco, TX	Did you know that the elevation in which your home resides is crucial to a home insurance policy because it determines the risk factor related to your home being in a flood zone. It is important to understand that your home is not covered for floods under a standard homeowners policy. You will need to speak with a local Texas flood insurance agent about a flood insurance policy, please give us a call now at 888-620-1954.

To get online quotes on your home and compare rates on home insurance premiums in Waco, enter your zip code above and easily complete our online quoting application. Remember, it's important to speak with us about additional home insurance discounts so you can get the best rate for your home in Mclennan County.

Texas Homeowners Insurance News & Information

Texas is Seeing Major Increases in the Cost of Homeowners Insurance Posted on Tuesday 7th May, 2024
Like much of the rest of the country, Texas is seeing major increases in the cost of homeowners insurance. According to an article in Austin American-Stateman, residents of Texas have seen their insurance rates go up 50.9% on average which is the largest increase in the country for that time period. Unfortunately, experts are predicting […]
2024 Average Homeowners Insurance Rate at $2,777 per year Posted on Tuesday 20th February, 2024
A recent report by Insurance.com, found that the average homeowners insurance rate in the U.S. came in at $2,777 per year which breaks down to $231 a month. The average was based on coverage levels of $300,000 in dwelling and liability and a $1,000 deductible. When Insurance.com ran the numbers, Oklahoma was the most expensive […]
9% Predicted Jump in Home Insurance Rates in 2023 Posted on Tuesday 25th April, 2023
According to a new report by online marketplace Insurify, average homeowner insurance premiums are headed up again in 2023. The report predicts that the average cost of homeowners insurance could jump up 9% which translates into about $150 increase for most homeowners. The pain will not be distributed equally, homeowners in some states will see […]
Get Cheaper Home Insurance by Using These Great Saving Tips Posted on Friday 19th August, 2022
Homeowner insurance rates are headed up in many states this year. Colorado’s new average rate is around $3,400, Oklahoma is now $3,300, Tennesse has also moved up on the list to an average home insurance rate of $3,000 per year. Kansas and Texas are both around $2,500 for the year. While your premium may be […]
Top 3 Reasons Homeowners Can Expect a 3% to 30% Rate Increase Posted on Monday 18th April, 2022
Interest rate hike due to inflation percentage rising up, FED, federal reserve or central bank monetary policy, economics or loan concept, businessman archery percentage arrow high up into the sky. There is a good chance that your homeowners insurance premium will be headed up this year. According to a recent S&P Global Market Intelligence report, homeowners […]

Waco, TX Dwelling Coverage Estimate

It is important to calculate your dwelling coverage for your home in Waco so you know what type of homeowners insurance coverage you need to cover your replacement cost. It is recommended to have enough dwelling coverage to rebuild your home if it was destroyed by a covered peril.

Please remember that replacement cost coverage does not include the cost of the land, only the price to rebuild your home, which is why we like to help customers by answering a few questions that you may have.

What is the average replacement cost coverage in Waco, TX?

- The average square footage in Waco is around 742 Sq. Ft. which would cost you around $95,775 to replace the home if you base the home on the price to build per square foot of $129.

Minimum Replacement Cost Total: $95,775

Location: Waco, Texas (Mclennan County)

Average Building Cost Per Square Foot in Waco: $129 (low end)

Average Square Footage in Waco: 742 Sq. Ft.

Home Improvement Status	Price per Sq. Ft.	Dwelling Coverage
None or Very Minor Improvements	$129	$95,775
Some Additional Upgrades	$161	$119,719
Major Home Updates or Advancements	$194	$143,663

Calculate Your Waco, TX Dwelling Coverage

The dwelling coverage is calculated by the average cost per square foot ($129) in Waco, Texas times your heated square footage. Which would equal the cost to rebuild your home minus the cost of the property or land. Some homes will have a higher replacement cost due to home improvements like updated kitchens and bathrooms. Other upgrades may include: granite countertops, hardwood floors and stainless steel appliances. The national square foot average to build a brand new home is around 2500 square feet. So if you are looking to build, and your square footage of your new home is 2500, you are looking at a dwelling coverage premium of around $403,125 (Media price to build of $161 x 2500 sq. ft.) to cover the cost to rebuild your new home.

What is the difference between actual cash value and replacement cost value?

Homeowners insurance is available in both actual cash value (ACV) and replacement cost value (RCV). Knowing the difference is important:

Actual cash value: When valuing your personal possessions, an actual cash value policy will take depreciation into account. This means that your 10-year-old TV will be basically worthless according to your insurance company. While an ACV policy tends to be cheaper, if you have to make a claim you may be disappointed in your claim payout.

Replacement cost value: A RCV policy will replace your possessions with brand new items of similar quality regardless of how old they were at the time they were destroyed. While RCV policies are slightly more expensive, they are well worth the cost if you have to make a claim.