Average Cost of Homeowners Insurance in Texas (2024)

The average annual cost of homeowners insurance in Texas in 2024 is $5,171, which is more than double the national average of $2,423.

Aside from the coverage amount, the factors that have the largest impact on premiums are your location, the replacement cost value of the property and the insurer you choose. Credit rating also has a big impact, with the difference in premiums for those with poor credit versus excellent credit reaching $8,146 on average. The insurance provider you choose also affects your premium, so consider comparing options for potential savings. If your rates have recently increased, explore the cheapest home insurance in Texas for more affordable options.

In Texas, the average homeowners insurance premium for policies with $250K in dwelling coverage, $125K in personal property coverage and $200K liability coverage is $5,171. This figure is 113% more than the national average of $2,423.

Understanding how much coverage you need is essential for protecting your home and belongings. In Texas, selecting $100K in dwelling coverage results in an annual premium of $2,741. If you own a larger home and require $500K in dwelling coverage, the premium jumps to $9,031 per year. These variants in premiums demonstrate how coverage levels are directly tied to the cost of your policy.

Premiums for homeowners insurance in Texas can vary significantly among providers, even for similar coverage levels. For instance, while State Farm might offer a policy at $3,334 annually, IAT Insurance Group's equivalent coverage could cost $7,249, illustrating the range of pricing available to consumers.

For those seeking the best fit for their home insurance needs, review the best homeowners insurance in Texas. Differences in underwriting criteria, such as location risk assessments and company claims experiences, contribute to the variation in premiums.

Homeowners in Texas with poor credit scores pay an average annual premium of $12,341 for homeowners insurance, which is $7,170 more than the state average of $5,171. Conversely, those with excellent credit enjoy a rate of $4,195, saving them $976 annually compared to the average.

While immediate credit score improvements may be elusive, long-term efforts can lead to lower insurance rates. In the interim, comparing insurers can reveal cost-saving opportunities. Texas homeowners can find the most affordable options by reviewing the most affordable Texas home insurers, potentially unlocking savings in under 15 minutes.

In Texas, the material of your roof can influence your homeowners insurance premium. Homes with tile roofs, known for their durability, generally have lower premiums, averaging $4,656. Conversely, homes with shake-treated roofs, which are more susceptible to damage from severe weather events, tend to see higher premiums, averaging $6,284.

Similarly, the construction materials of your home can affect your insurance rates. Homes built with materials more resistant to common perils, such as fire and windstorms, may benefit from lower insurance costs. For instance, homes classified under superior construction have an average premium of $4,423, while those with standard frame construction have higher average premiums at $5,171.

Use the drop-downs in the table below to see how premiums change based on your home's materials.

Typically, insuring a newly constructed home in Texas costs less than an existing one due to modern materials and adherence to current building codes. Homeowners may find an average annual premium for new homes at $2,561, which is $2,610 less than the $5,171 average for older homes. The table below shows how premiums differ for varying coverage levels in new versus existing homes.

In Texas, homeowners who have been claim-free for five or more years can expect an average annual premium of $5,171. However, if you've filed one claim in the past five years, the average increases to $6,254, marking a $1,083 rise from the baseline. Those with two claims within the same period face an even steeper hike, with premiums averaging $7,467, which is $2,296 above the claim-free rate.

For the cities we analyzed, we found premiums ranging from $2,336 to $10,478. Cities like Austin, with an average annual premium of $2,876, contrast sharply with Corpus Christi's $10,478 average due its high risk from landfalling tropical cyclones. Location affects insurance costs due to factors like weather risks and crime rates. City-based premiums can vary more significantly than other factors like roof type or construction year.

Shopping for home insurance in Texas doesn't have to be a wild rodeo. You might be surprised at how straightforward it can be to wrangle a solid deal that fits your needs. Here's how to find the best deal for you.

In Texas, homeowners can often unlock savings by bundling their home insurance with auto insurance. Texans can save anywhere from $344 to $1,145, which translates to an average 15% discount on the combined cost of both policies. This multi-policy strategy is a savvy financial move and simplifies managing insurance needs. Review the best Texas home and auto bundles for a closer look at the potential savings.

Texas homeowners can tap into several insurance discounts to lower their premiums.

• Impact-resistant roofing: Installing materials that make your home more resilient to wind and hail damage.
• Home safety features: Smoke detectors, burglar alarms and deadbolts may offer savings.
• Loyalty discounts: Long-term policyholders might be rewarded with reduced rates.

To secure these savings, remember to inquire about available discounts when requesting a quote.

For those navigating the complexities of homeowners insurance in Texas, a wealth of resources is available to guide you through the process. Whether you're seeking official regulatory information, looking to estimate your insurance costs or comparing the top insurance providers, these resources can provide valuable insight and assistance.

• Texas Department of Insurance: Official state resource for insurance regulations.
• Affordable Home Insurance in Texas: Find cost-effective options for your home.
• Texas Homeowners Insurance Calculator: Estimate your potential insurance costs.
• High-Risk Home Insurance Coverage: Understand insurance for homes in high-risk areas.
• Top Home Insurance Options in Texas: Compare the best insurance providers.
• Personal Property Coverage Essentials: Guide to personal property insurance needs.
• Report Insurance Fraud: Online system for reporting insurance fraud.