Updated: December 17, 2024
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In Waco, TX, Farmers is the overall best and cheapest choice for home insurance. If customer service is your priority, however, Amica is best.
Choosing the best cheap home insurance depends on your needs and preferences, such as budget, available coverage options and service level expectations.
Best HomeInsuranceWaco, TXTable of Contents
Why Trust MoneyGeek? We collected data from Texas' Department of Insurance and Quadrant Information Services to find the top homeowners insurance in Waco, ensuring our recommendations are data-driven.
Home insurance premiums in Waco represent the most competitive rates available in September 2024.
MoneyGeek found that Farmers is the best option in Waco, TX, for home insurance with a MoneyGeek score of 86 out of 100 for $100K dwelling coverage.
The scores for home insurance companies in Waco range from 33 to 86. These figures reflect MoneyGeek's scoring system, meaning insurers can receive different scores based on factors like credit history and the age of your home.
| Farmers | 86 | $1,488 |
| State Farm | 78 | $2,137 |
| Nationwide | 77 | $2,294 |
| Amica | 76 | $2,572 |
| Chubb | 72 | $2,733 |
| ASI | 49 | $3,113 |
| IAT Insurance Group | 33 | $3,397 |
MoneyGeek found that Farmers is the best option in Waco, Texas, for $100K dwelling coverage. The two best overall home insurance companies in Waco for $100K dwelling coverage are:
Farmers stands out as the best home insurance provider due to its strong performance in affordability and customer satisfaction.
Waco, TX, homeowners have a choice among various companies, each offering different costs and service experiences. While affordability is key, other factors — such as customer support and coverage options — are important, especially when filing a claim.
Farmers is the best overall company with high scores in affordability and satisfaction. It offers comprehensive home insurance with matching siding coverage and waiver of deductible for glass. You can save with discounts like the non-smoker discount if no one in your home has smoked in two years.
Farmers provides useful coverages like scheduled personal property, which helps replace belongings if damaged, and back-up of sewer or drain, which covers repair costs from water backups. Guaranteed replacement cost helps cover extra repair costs if construction prices rise.
MoneyGeek found that Amica is the best option in Waco, TX, for customers wanting top-notch service in home insurance, specifically for $100K dwelling coverage. Here are the top providers for this coverage level:
Amica stands out because of its high customer satisfaction and comprehensive coverage options. This company excels in providing customer support and generous policy offerings. Excellent service in home insurance means timely support and strong policy offerings that meet your needs.
Amica scores high for customer satisfaction and coverage. It offers comprehensive home insurance with guaranteed replacement cost, which helps rebuild your home if costs exceed limits. Back-up of sewer or drain covers water damage from backups. Scheduled personal property protects valuable items like jewelry.
It also provides discounts like continuously insured and automatic payment. To qualify for continuously insured, stay with the same insurer for at least two years.
MoneyGeek found that Farmers is the best cheap home insurance company in Waco, TX. The top two best cheap insurance providers for $100K dwelling coverage are:
Farmers stands out with its excellent affordability and customer satisfaction. The affordable plans are ideal, but they might not meet your needs if an accident happens. In instances where saving on premiums is a priority, considering the cheapest homeowner insurance companies may be beneficial.
What sets the best cheap home insurance apart from the cheapest is its value for money, balancing cost with the coverage that meets a homeowner's needs without being expensive.
Farmers scores high on affordability and satisfaction, making it a top choice for cheap home insurance. It offers comprehensive coverage with options like scheduled personal property and matching siding coverage. Discounts like protective device and nonsmoker discount help save money. Nonsmokers can qualify for lower premiums.
Farmers provides useful coverages like guaranteed replacement cost, which helps if repair costs exceed policy limits. Back-up of sewer or drain covers water damage from backups. Cyber event/ID theft helps with identity restoration costs.
MoneyGeek’s home insurance calculator will give you a ballpark estimate of your cost — it’s free, no personal information required, no spam.
Rates updated:
Dec 23, 2024
Many factors influence homeowners insurance in Waco, and location is one of them. Comparing rates is the best way to save, but it can take 15 minutes per company and more than an hour for three or more. Use MoneyGeek's home insurance calculator to save time by focusing on key factors. Enter your age, coverage, credit score, deductible and more for a quick estimate.
Farmers stands out in Waco, TX, as the most cost-effective option for homeowners insurance. The following companies offer the lowest annual premiums in their respective dwelling coverage categories:
Farmers wins as the cheapest provider for $100K, $250K and $500K dwelling coverage due to its low yearly costs, and it also ranks highest with a score of 92. Choosing the right amount of dwelling coverage is essential as it significantly affects the insurance premium.
Securing the cheapest homeowners insurance in Texas can be a smart strategy to handle personal finances better.
| Farmers | $1,488 |
| State Farm | $2,137 |
| Nationwide | $2,294 |
| Amica | $2,572 |
| Chubb | $2,733 |
| ASI | $3,113 |
| IAT Insurance Group | $3,397 |
Farmers is the best option in Waco, TX, for affordable home insurance for high-value homes. High dwelling coverage is crucial for homes that are expensive to rebuild, and home insurance costs can increase due to various factors.
Farmers stands out in Waco because of its affordability compared to other providers. While cost is essential, the insurer also receives a high rating from MoneyGeek, suggesting that being the least expensive doesn't mean compromising quality.
| Farmers | $4,259 |
| State Farm | $7,385 |
| Nationwide | $9,728 |
| ASI | $14,215 |
| Amica | $15,107 |
| IAT Insurance Group | $15,188 |
| Chubb | $17,055 |
Nationwide offers the cheapest home insurance for new homes requiring $100K dwelling coverage in Waco, TX.
Nationwide offers the most competitive prices for homeowners insurance in Waco, TX, making it an attractive choice for cost-conscious customers. However, having the lowest rates may not equal the best service quality. When securing home insurance, ensuring adequate coverage for your property is essential.
| Nationwide | $628 |
| State Farm | $970 |
| Farmers | $992 |
| ASI | $1,301 |
| IAT Insurance Group | $1,561 |
| Amica | $1,782 |
| Chubb | $1,934 |
Securing the best cheap homeowners insurance is about finding a provider that delivers excellent customer service and comprehensive coverage at an affordable rate. Providers that achieve this balance offer peace of mind without breaking the bank, ensuring you are well protected from various risks to your home.
To guide you through the process, we outlined key factors to consider when seeking the best and most affordable homeowners insurance for your home.
To determine how much home insurance coverage you need, consider the specifics of your home in Waco, Texas. Factor in the cost to rebuild, value of your belongings and liability requirements.
Research insurance companies operating in Waco, Texas. Prioritize those with strong financial health, positive customer feedback and a solid service history.
Once you know what coverages you need, compare home insurance quotes. In Waco, Texas, premiums for $100K dwelling coverage range from $1,488 to $3,113 annually.
Check with each provider about potential discounts, such as those for combining policies, adding safety features or maintaining a claims-free record.
Opting for a higher home insurance deductible can reduce your premium. Ensure it's an amount you can manage if a claim arises.
Enhancing your home's security with systems and sturdy locks can lower its risk profile, potentially reducing insurance costs.
Keep a good credit score as it can affect your insurance rates in Waco, Texas. Pay bills on time and reduce outstanding debt.
Consider bundling your homeowners insurance with other policies like auto insurance. This can lead to significant discounts and savings.
The best cheap home insurance provider for you in Waco ultimately depends on how much coverage you need and how much you can spend. Get answers to some of the most commonly asked questions about best cheap insurance rates in Waco, Texas.
The average home insurance cost in Waco, Texas, is $1,632.
The cheapest home insurance company in Waco, Texas, is Farmers, with an annual premium of $1,488.
The best home insurance in Texas for Waco residents is provided by Farmers, with a MoneyGeek score of 86 out of 100.
About Mark Fitzpatrick
Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.
Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.
