54.1% Harris County residents are homeowners. If you’re one of these people, you know how crucial it is to have an insurance policy that protects your property. Houston, Texas is susceptible to flooding and experiences hurricanes occasionally. It is therefore important to have insurance that covers you against the damage these natural disasters could cause.
Houston residents pay an average premium of $3,183 each year, which is more than the Texas average at $2,589. We considered price, customer service, and financial stability to determine which homeowners insurance Houston is the most affordable.
Houston’s best home insurance companies
It is no surprise that the fourth-largest city in America has many national and regional insurers writing policies there. We reviewed all of them, and found that these five are the most affordable Houston home insurance providers.
Bankers Insurance Group
Bankers, a well-respected insurer that provides flood and homeowners insurance in Texas, is highly regarded. The company is headquartered in Florida and has extensive experience in working in areas where there are frequent hurricanes. Its reputation for helping policyholders get back on their feet following a disaster is unbeatable.
The basic HO-3 policy covers dwelling, personal property, liability, and many other things. Additional endorsements (or riders) include animal liability and identity fraud. However, your payout does not take into account depreciation. We were also offered the lowest homeowners insurance in Houston at $839 per year by Bankers.
All over the country
Nationwide‘s rates are very affordable for homeowners looking for cheap homeowner insurance in Houston. The basic policy includes all standard coverage options including property, liability, and medical payments. It also includes ordinance or law coverage, which can help you rebuild your home after a disaster. Credit card coverage is available for any unauthorized transactions.
Like many other insurers, Nationwide offers flood insurance through FEMA’s National Flood Insurance Program. This essential coverage should be added to your policy if your home is located near the Gulf or any other body of water.
ARX Holding Corp./Progressive
Progressive homeowner’s insurance covers the listed perils not covered by most HO-3 policies, such as tornadoes and lightning strikes. There are many discounts offered by the company that are easy to get. You can save money by simply agreeing to receive policy documents via email. Bundling homeowners with auto, boat or RV insurance will save you money.
Allstate
Allstate scored high on J.D. Powers’ Customer Satisfaction rating means that you can expect them to quickly and efficiently handle your claims. Allstate agents are known for their excellent customer service. However, they also make it easy to do business online. You can file and manage claims, pay premiums, and learn more about insurance topics in their blog.
There are many ways to save with Allstate. For setting up an automatic payments plan, you’ll receive a 5% discount and 10% for switching to Allstate. These savings will last as long as your policy is with Allstate.
Houston Home Insurance Tips
Texas law does not require homeowners insurance. However, your lender may require you to have one if you have mortgages. Houston homeowners insurance covers your home, including any other structures like a garage, as well as your personal property and liability. You can also add the following options to your policy as riders or endorsements:
- Water backup: Houston homeowners may want to consider water backup coverage. This covers backed-up drains, sewage systems, and sump pump problems. This type of damage is not covered by your basic insurance and can occur after a hurricane, rainstorm, or other natural disasters.
- Flood insurance – There are a few major perils that are not covered by HO-3 policies. One of these is flooding. Your insurer may be able to write you a flood insurance that is backed by FEMA National Flood Insurance Program. This coverage is vital if you live near any body of water, even a small one.
- Equipment breakdown: Your insurance policy does not normally cover equipment that has suffered from electrical or mechanical damage. This coverage may be available through a homeowner warranty. However, if your equipment or technology are expensive, it may be worth looking for an endorsement.
Houston home insurance discount
No one wants to pay more for insurance premiums than they need. Most insurers offer discounts to reduce your premiums. These are the most popular:
- Loyalty discount: Some insurers offer a small discount for customers who have been with them for a certain amount of time. Some companies offer a loyalty discount for customers who switch to the company.
- Alarm systems: Insurance companies will often reward burglar-proofing, smoke detectors, and fire alarms.
- Military service: Many companies, including large names like USAA and Geico, offer discounts for active duty military personnel and their families.
- Bundling discount: Many insurers will offer a discount, sometimes up to 20%, if you have multiple policies with them. This could be auto, life, or boat. It pays to consolidate insurance with one company if you are satisfied with your current insurer.
You will probably find that you don’t need to pay the full price of your insurance because almost all insurance companies offer discounts.
Questions frequently asked
Which is the best company for home insurance?
Your best choice for home insurance may not be the one that is best for you. Bankrate’s Best Homeowners Insurance Companies in 2021 will help you find the right company for you. It is always a good idea compare providers and obtain multiple quotes. Talk to a licensed agent to help you decide what’s best for your needs.
What is the cost of Houston home insurance?
A Houston homeowner policy costs $3,183 on average. Rates will vary for everyone because they depend on your home’s age and condition, location, and the amount of coverage.
Houston, how much home insurance do you need?
Home insurance is necessary to cover the cost of rebuilding or repairing your home in the event of a disaster like a hurricane. To get an idea of the cost, multiply construction costs per square ft in your area by the square footage of your home to get an estimate. An insurance agent licensed can help you determine how much coverage you need and which policy will be most suitable for your needs.
