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“Texas, it’s like a whole other country,” is a big saying in the Lone Star State and it’s absolutely true. Texas is filled with beauty, culture, and fun family activities. Whether you are headed to one of our lovely beaches, zoos, museums or amusement parks, Texas is packed to the gills with fun and beautiful destinations.
Texas ranks as number two in the country for both population and area size. Texas covers 268,820 square miles and a mind boggling 25,145,561 people live in the Lone Star State.
Whether you are considering a move to Austin, the capitol city of Texas or another one of our major cities such as Dallas or love the small town Texas feel of a town like Granbury or Chappell Hill, Texas is a great place to call home.
Texas FactsTexas is currently home to 25,145,561 residents, which breaks down to about 4,175 households per zip code with the average number of people living in a household being three.
The Lone Star state has an average household income of $29,678, which is well below the national average, but luckily house prices are extremely reasonable with the median house price coming in at $58,732
Homeowners Insurance in Texas
There is no getting around the fact that Texas is very expensive when it comes to homeowners insurance. According to data from the National Association of Insurance Commissioners (NAIC) the average annual premium for a HO-3 policy in Texas is $1,837 while the national average is only $1,034.
This makes Texas number two in the country when it comes to the high cost of homeowners insurance. The cost of homeowners insurance in the Lone Star state is a whopping 67.61% more expensive than the national average.
Texas has hundreds of miles of coastline and this is one major reason that homeowners insurance is so expensive in Texas. Coastal residents can find it difficult to find coverage in certain areas, which is why The Texas Windstorm Insurance Association (TWIA) was established by the Texas Legislature in 1971.
The TWIA provides windstorm and hail insurance in the Texas seacoast area and is a residual insurer of last resort. The TWIA is not a direct competitor in the voluntary insurance market and only provides residential and commercial coverage in certain designated portions of the Texas seacoast territory.
The TWIA only provides hail and windstorm coverage and is an insurer of last resort so you may be able to find a better, more affordable policy in the private market. While the majority of Texas homeowners will pay more than the national average for homeowners coverage, there are ways to lower your premium. Here are a few tips on how to keep the cost of your homeowners insurance affordable:
- Shop Around: Always shop your coverage, this is the best way to get the best rate and save the most money. Insurers rate risk differently so home insurance quotes can vary dramatically. Gather quotes from at least five insurers and make sure you are comparing apples to apples when it comes to coverage levels and deductibles.
- Discounts: Discounts are a great way to lower your premium and all insurers offer discounts so make sure you are getting every discount you are qualified to receive. It doesn’t matter if you are shopping in Andrews County or Bell County, insurance companies will offer a discount for bundling, adding a security system or even going paperless on your policy.
- Update Your House: Regardless of whether you are shopping for a house in Dallas or Houston, if you upgrade the storm shutters, add a sprinkler system or a monitored security system, your insurer should offer a discount.
Rates by Homeowners Insurance Type
Most people are unaware of the fact that homeowners insurance comes in a variety of different types and each type is specifically designed for the home type that it covers. Here is a quick overview of the various homeowners insurance types and the average premium according to data from the NAIC:
Dwelling Fire: This is simply a slimmed down policy that offers very narrow homeowners coverage. These policies tend to have a lower premium and cover both smoke and fire damage. In some cases these policies will offer coverage against vandalism, wind and even explosions.
According to data from the NAIC, only 3.5 percent of the policies written in Texas are Dwelling Fire policies. The average premium for a Dwelling Fire Policy in Austin or any other Texas city for that matter is an extremely affordable $276.
HO-2: This is a very basic homeowners policy. It only covers the perils that are listed in the policy.
According to data from the NAIC, 14.2 percent of the policies written in Texas are HO-2’s. The average premium for a HO-2 policy is $1,364
HO-3: An HO-3 policy is a standard policy and is the most common homeowner policy type in Texas. This policy provides protection from all perils except those that are specifically excluded in the policy wording. Earthquake and flood damage are excluded in all HO-3 policies.
Data from the NAIC confirms the popularity of the HO-3 with a whopping 40.2 percent of policies written in Texas being HO-3 policies. The average policy price is $1,837.
HO-4: If you live in an apartment in Brown County or even Colorado County then a HO-4 policy is the correct homeowners policy for you. A HO-4 policy will cover your personal possessions as well as offering liability protection in case someone is injured in your apartment.
According to data from the NAIC, 18.2 percent of policies written in Texas are HO-4 policies.
HO-5: These policies are designed for newer, more upscale homes. They provide protection for your home as well as any additional structures on your property, loss of use and personal property. An HO-5 policy will cover your personal property against all perils unless they are specifically excluded in the policy. In most cases, older homes do not qualify for these policies.
According to data from the NAIC, only 9.3 percent of policies written in Texas are HO-5 policies and the average premium is $1,682.
H0-6: Condo and co-op owners in Port Arthur, Shenandoah or any other Texas city need an HO-6 policy. These policies will cover your personal property as well as the structural parts of the building that you actually own. Coverage is limited to 16 specific perils.
In Texas, roughly 1.4 percent of policies are HO-6 policies.
Factors to Consider in Texas
Severe weather is always going to be a factor when it comes to homeowners insurance in Texas. In 2015, Texas declared one disaster one and in 2013 it was forced to issue two disaster declarations. If you moving to Texas, especially on the coast, be sure to consider how severe weather can affect you and your homeowner insurance rates.
Hurricanes and hailstorms can do major damage to a home’s siding and roof. When shopping for a new home you should always get an insurance quote for any home you are seriously considering to make sure the home is truly affordable.
When it comes to homeowners insurance, experts recommend saving it for major claims. Pay for smaller damage out of pocket as numerous small claims on your policy will result in a major price hike. Always save your coverage for major claims.
If you are moving to Texas, we can help you find an insurance policy for your new Texarkana or Winnsboro house. We can easily help you shop and compare up to 12 different Texas home insurance premiums and apply all the available discounts and credits.
Get started today, contact us to get a quote on your homeowners insurance in Texas.
Local Texas Home Insurance Rates
Check out our recent homeowners in Austin, TX, competitive rate of $1405 per year. Average rates range from $1155 to $1705. See details on average rates within the city of Austin. - Get Austin Home Insurance Quotes! or Give us a call now at 1-866-502-7287
Check out our recent homeowners in Rockport, TX, competitive rate of $1462 per year. Average rates range from $1212 to $1762. See details on average rates within the city of Rockport. - Get Rockport Home Insurance Quotes! or Give us a call now at 1-866-502-7287
Average Homeowners Insurance Premiums in TX
With over 95% of all Americans are known to have homeowners insurance coverage, it's important to know what TX homeowners are paying on average. Did you know that the average homeowners insurance premium in TX is $2000? TX is now ranked 4 in the country. The country wide average for homeowners in the United States is $1,311. This means the average home insurance premium in TX is 52.56% more than the national average.
|Year||Average Annual Premium||Average Monthly Premium||State Rank (Overall)|
|2020||$2000 (0.9%)||$ 167||4|
|2019||$1982 (1.4%)||$ 165||4|
|2018||$1955 (3.22%)||$ 163||3|
|2017||$1893 (-2.3%)||$ 158||3|
|2016||$1937 (-2.75%)||$ 161||2|
When we combine the state averages over the last decade, the TX overall average is estimated to be around $1,926.87. Our homeowners insurance quoting and rating process helps you compare homeowners insurance quotes, coverages and premiums. TX current state rank compare to the rest of the country is #4. Consider shopping your TX home insurance with us so we can help you save up to 40% or more on your policy.
Find Local TX Homeowners Insurance Quotes & Coverage
For more information on homeowners insurance in your area, choose a county below:
- De Witt
- Deaf Smith
- El Paso
- Fort Bend
- Jeff Davis
- Jim Hogg
- Jim Wells
- La Salle
- Live Oak
- Palo Pinto
- Red River
- San Augustine
- San Jacinto
- San Patricio
- San Saba
- Tom Green
- Val Verde
- Van Zandt
TX Homeowners Insurance News & Information
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 […]
Wind & Hail Home Insurance Coverage Guide Posted on Monday 13th September, 2021
Home in Panama City, Florida suffers from wind and hail damage in 2018. This damaged house is from hurricane Michael. Hailstorms can do a tremendous amount of damage to your house and roof in very short amount of time and if you are not properly insured you could end up having to cover the cost […]
Am I underinsured for hurricane damage? Posted on Thursday 26th August, 2021
Tropical Storm Henri hit the Northeast pretty hard over the last week and for many homeowners the pain caused by the storm could just be getting started. Unfortunately, many homeowners may be underinsured or not have the right coverage in place when it comes to tropical storm and hurricane damage. A recent study by Policygenius […]
TX Housing & Real Estate Data
|Total Housing Units||9977436|
|Occupied Housing Units||8922933|
|Vacant Housing Units||1054503|
|Vacant Housing Units for Rent||394310|
|Vacant Housing Units Rented Not Occupied||16509|
|Vacant Housing Units For Sale||121430|
|Vacant Housing Units Sold Not Occupied||30437|
|Vacant Housing Units For Seasonal Occasional Use||208733|
|Vacant Housing Units All Other Vacants||283084|
|Housing Units Homeowner Vacancy Rate Percent||2.1|
|Housing Units Rental Vacancy Rate Percent||10.8|
|Housing Tenure Occupied Units||8922933|
|Housing Tenure Occupied Units Owner Occupied||5685353|
|Housing Tenure Occupied Units Owner Occupied Population||16331580|
|Housing Tenure Occupied Units Owner Occupied Averge Household Size||2.87|
|Housing Tenure Occupied Units Renter Occupied||3237580|
|Housing Tenure Occupied Units Renter Occupied Population||8232842|
|Housing Tenure Occupied Units Renter Occupied Average Household Size||2.54|
Understanding TX Homeowners Insurance
When shopping for TX homeowners insurance quotes you should be aware of the various types of insurance policies that are available in your area:
- HO-3: This is the most common type of homeowers policy. This policy type protects your home against all perils, except ones that are specifically excluded. In most cases earthquake and flood damage are excluded.
- H0-6: This policy type is specifically written for condos or co-ops. If you own a condo or live in a co-op building this type of policy is a necessity. A HO-6 policy covers both your personal belongings and the structural parts of the building that you own. There are 16 disasters listed on a typical policy that HO-6 protects against.
- HO-4: If you are looking for TX renters insurance, a HO-4 policy is a great option. Renters insurance will cover your contents as well as offer liability coverage in the event a person is injured in your apartment.
While other types of policies exist, these are the most common ones. A HO-2 is a more basic policy that offers reduced coverage levels and a HO-5 is a high-end policy that offers increased protection.
If you are shopping for a new home in TX, homeowners insurance is a must do. We can help you find the perfect policy for your new home, regardless of whether you need a standard HO-3 policy, HO-6 or renters insurance, our site makes shopping for homeowners insurance quotes easy. Visit our online quoting application today and let us help you shop and compare up to 12 different TX rates and coverage options.