The Top 5 Best Home Owners Insurance Companies In Texas

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How To Get The Best Home Owners Insurance in Texas

Shopping for home owners insurance can seem like a daunting task. Whether you're buying a home, or just looking for a new rate, it's important to remember that not every insurance company will work for anyone. Because of this subjective nature, searching for what fits you can be overwhelming. We're giving you the five best insurance companies in the state of Texas, from the stable giants, to the new web chat based insurance companies that can give you easy fast coverage.

Who Has The Cheapest Home Owners Insurance Rates In Texas

Currently, the cheapest advertised rates are from Lemonade, a newer company, however these rates are of course subjective. Your home may not require the basic coverage Lemonade offers, while a competitor company may offer a better deal for the benefits you need. Lemonade coverage has been estimated to start as low as $60 monthly. From a random Houston home picked out online estimated at $273,000 with a masonry exterior, Lemonade estimated a $455/mo payment, which is still vastly lower than the average cost of insurance in Texas.

What Is The Average Cost Per Month For Home Owners Insurance In Texas

The average cost of a home in Texas is $2451, which is one of the more expensive rates in the US, and about $1000 more than the national average. These numbers are based off of the average price of a Texas home at around $223,107, with the following traits:
  • 10% of the insured value for other structures.
  • 50% of the insured value for personal property.
  • 20% of the insured value for loss of use.

At a $2451 average annually, that equals about $204 per month. This might seem like a big number, but it is for the coverage of your home and belongings, and it is important to remember that it isn't a set in stone number. Many things contribute to the price set for your home insurance, including the age of your home, your credit, the manner in which your home was constructed, and the rate you find.

How To Compare Texas Home Owners Insurance Rates

First thing's first, you'll need an approximate value for your home and belongings, an idea of what your budget wants to look like, and any additional coverage you want and need. Consider your other insurance needs and whether bundling your insurances could benefit you. Finally, figure out who serves your area. If you're interested in having a dedicated agent who you will work with, look into companies and agents in your area. Collect quotes from websites, and ask about other details that may be specific to your situation.

The Top Five Texas Home Owners Insurance Companies

Amica

The highest rated the best for customer service, Amica Insurance offers several benefits to their consumers. Not just covering home owners insurance, Amica also offers flood insurance, earthquake protections, and other quirky coverage you may not have thought of. Amica'''s main benefit is that they are a dividend insurance company. While the monthly prices tend to be slightly higher than other companies, Amica estimates buyers can receive 5%-20% back in end of the year dividends. Amica has been around for over 100 years, dating back from 1907. Despite their comparable unknown nature, Amica is definitely worth looking at in comparison to some of the other well known names in the industry.

Lemonade

Offering the cheapest rates, Lemonade Insurance is a relative newcomer to the insurance market. While this can be off-putting to consumers because they are not a well established insurance company, Lemonade is currently offering the cheapest rates on the market - often hundreds below their competitors. Lemonade primarily deals in basic home owners insurance, and doesn't offer too many frills. Lemonade also offers AI claim handling and does offer fast payouts for claims. Sign up is quick, and quotes can be claimed within minutes on your phone through their app, or online. Lemonade will also send quotes directly to your lender to streamline mortgage processes.

Allstate

Allstate is one of the bigger players in the home insurance world. Not only do they have liaison capabilities with The National Flood Insurance Program, but they do have a stellar reputation around the country. Coupled with the infamous bundle allows you to gain benefits for packaging your home, car, life, identity theft, and more together to save on your collective premiums. Allstate tends to offer the best rates for those with lower credit scores, to the tune of a couple hundred dollars. Due to their nationwide status, they have plans for all situations and budget sizes.

USAA

USAA has made themselves the quintessential military family insurance company. As a company who only caters to active military, veterans, and their families, USAA has a few curious details about their insurance that would not normally be on the minds of civilians. Their personal property insurance extends overseas, and even into war zones, claims for active military uniforms are deductible-free. USAA has not only been around since 1922, it is also a Texas native. It's an incredibly well established company that allows them to craft prices perfect for Texas military families.

State Farm

Much like its other nationwide counterparts, State Farm offers a vast variety of insurances to bundle, and it is rated one of the most popular companies to side with in Texas. State Farm is well established, stable, and compared to other companies does tend to pay out slightly faster, though not the fastest. They also have liaisons with the NFIP, making flood protection a breeze. For those looking for insurance with excellent credit, State Farm may be the option for you, as their deductibles tend to be up to around $450 less than competitors for those with excellent credit.