Although insurance premiums can be high at times, homeowners insurance policies can be a great way to protect your home in the event of an emergency. For homeowners who have mortgages, a lender may require you to maintain certain levels of home insurance. A significant number of homes in Garland are occupied by owners, with 62% in 2019. The median home value was $160,000.
For $250,000 of coverage, homeowners insurance in Garland, Texas costs on average $2270 per year. Bankrate used Quadrant Information Services to gather rates from insurance companies in the area that have significant market share to find the most affordable home insurance Garland had. We then compared the companies across premiums and J.D. We also offer discounts, power scores and other features.
The best home insurance in Garland
Our methods have highlighted the top most affordable home insurance companies in Garland. J.D. weighed each company’s average annual rates for 2021. We identified five outstanding companies based on their power score and coverage.
All over the country
Nationwide has been a trusted name in insurance. It has some of the lowest rates in the Garland region, and offers many discounts that could help lower premiums. Although it didn’t score the highest J.D. Although it did not score the highest J.D. Nationwide also offers ordinance insurance, which helps you rebuild your home after a loss.
State Farm
State Farm rates are more expensive than the national average. However, this can vary significantly between ZIP codes. However, State Farm’s average rate in Garland is lower than the average cost of the area by around $500. Although State Farm offers discounts there are less than some of its rivals. The J.D.. Power report placed the company among the top 10 providers. The company was rated as high as the industry average in the J.D. Power report, indicating that its customer satisfaction is above-average. State Farm is one of the most affordable homeowner insurance companies in Garland Texas. This is due to their low average rates.
Travelers
Travelers is a trusted brand with a long history of customer satisfaction. The company was not ranked in the J.D. The company was not ranked in the J.D. Power report but it makes up for that with other features and past performances. The rates for travelers are still quite low — about $400 below the average in the city — but there are many discounts available, including those who are recent home buyers. You could get up to 5% off if you use “green” materials to build your Garland home.
USAA
USAA stands out as an insurance company. The company’s policies and services are only available to active-retired military personnel and their eligible family members. USAA consistently ranks at the top of J.D. Although it is a small membership, the Power report does not rank as eligible. It is still worth noting that USAA’s eligible customers rank so high in customer satisfaction. This could be partly due to important offerings like earthquake coverage or military uniforms.
There are less discount options than other providers. USAA provides quality coverage at a lower cost than other homeowners insurance providers in the Garland region.
Allstate
Allstate has a nearly 100-year history of providing insurance services. It is the largest market share company in the country. According to the J.D. The Allstate commitment to customer satisfaction is evident in their sixth-placed Power report. Although the average rate for the Garland area is lower than the average local rate, it is one of our highest-ranked rates. Allstate is ranked high because of its customer satisfaction score and the savings opportunities available to homeowners. Impactful Discounts up 20% for claims-free and up to 25% for bundling home and auto.
Options for home insurance in Garland
Home insurance is not mandatory, unlike auto insurance. Mortgage lenders often require borrowers to have home insurance. Although homeowners insurance is not mandatory, protecting your home against damage is a smart financial decision. It may be prudent to buy additional coverage in areas that are subject to extreme weather like Garland’s flooding.
- Flood insurance Flood coverage generally is not included in basic homeowners policies. This coverage is often purchased separately or as an added-on. This coverage is important for financial security in areas that are subject to frequent or severe flooding like Garland.
- Water backup: Although most homeowners policies cover water damage in some cases, this coverage is usually limited. Sump pump and sewer backups often require policy riders or add-ons. This coverage will protect you from financial loss due to water damage such as a burst sump pump, or backed-up sewer. These policies may be more beneficial to those who live in areas at high flood risk.
- Extended dwelling coverage This coverage is standard on homeowners policies. However, there might be situations where you require higher limits to cover rebuilding costs. This endorsement could be especially useful in cases of mass damage that lead to multiple insurance claims by the affected persons in a short period.
Garland home insurance discounts
Although homeowner’s insurance is expensive, there are many ways to lower your costs. Your insurance company may offer discounts that can help you save money. You may not be eligible for every discount, so it is important to find the one that works for you. You may be eligible for discounts you have not used yet in some cases. Sometimes, it may take some effort to qualify.
- Multi-policy: Buying multiple policies from one company can save you money. Customers who purchase multiple policies from the same insurance company receive substantial discounts on their premiums. This is a reward for customer loyalty, and both parties may be able to benefit.
- Insurance companies often offer discounts for new homeowners. This can vary depending on which company you are dealing with. This discount may be available to you if your insurance company qualifies.
- Home safety device: Many home insurance companies will offer discounts for safety and security devices like quality locks, smoke and carbon Monoxide detectors, or burglar alarms. The company will charge less if your property and you are less risky.
- Higher deductible: This is one of the most risky ways to reduce premiums. It also lowers your payments. The deductible is the amount taken from your insurance claim before your policy takes effect. Insurance experts recommend that you choose a higher deductible only if you are able to afford the difference after a claim.
There are many options for homeowners looking to save money on their home insurance in Garland. Numerous discounts are available from bundles to higher deductibles and home safety devices. Multi-policy discounts can be a great option for homeowners who own a car. If your company offers this discount, which many do, it would be a requirement to keep your auto and home insurance the same.
Questions frequently asked
Which is the best company for home insurance?
The best house insurance company can vary between individuals and situations. This is partly due to the many variables involved in calculating a policy. You can decide for yourself by looking at your local factors, such as damage weather events and average premiums. Then, compare these with your coverage needs and wants.
What is the cost of home insurance in Garland?
According to our profile, Garland home insurance costs $2270 per annum for $250,000 worth of dwelling coverage. This is a guideline, but prices may vary depending on the customer and their circumstances.
What amount of home insurance do you need in Garland
It can be difficult to determine how much homeowners coverage to buy. There are many factors to consider. People generally decide how much coverage they want based on their home’s market value, as well as the contents of their belongings.