Best & Cheapest Homeowners Insurance in El Paso, TX For 2024

Nationwide offers the cheapest homeowners insurance to homeowners in El Paso, with an average annual quote of $1,183.

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Updated: 18 April 2024
Written by
Bob Phillips
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In our comprehensive review of homeowners insurance providers in El Paso, TX, Nationwide emerges as the most budget-friendly option, with average annual rates of $1,183. However, keep in mind that the best insurer for you may vary based on your unique circumstances and requirements.

For instance, if your credit score has taken a hit, Nationwide still stands out as the most economical choice with an average annual premium of $1,994. In contrast, if your home is on the older side, State Farm rises to the top with its competitive rates of $2,264 per year, and comprehensive coverage.

On the other hand, if you’re the proud owner of a newly constructed home, Farmers offers the most cost-effective solution at $1,072per year. And for those who’ve had a history of claims, State Farm provides an affordable and understanding solution at $2,442 per annum.

Last, if you possess a wealth of personal property that needs protection, Travelers proves to be your best bet, offering extensive coverage at a reasonable $1,297 per year.

Our in-depth analysis at Insuranceopedia is designed to guide you toward the perfect fit for your homeowners insurance needs. By comparing customer ratings, analyzing personal experiences, and presenting comparison charts, we will provide you with all the information necessary to make an informed decision.

How much is homeowners insurance in El Paso, TX?

Nationwide offers the most affordable rate for homeowners insurance in El Paso at $1,183 annually.

As you can see below, rates in El Paso are slightly higher than the National average. However, El Paso rates are lower than the Texas State average rate.

Area Average Monthly Rate
National $1,820
Texas $3,208
El Paso $1,890

It’s important to understand that rates are not a one-size-fits-all matter. They can fluctuate significantly based on a myriad of factors.

Cheapest Homeowners Insurance in El Paso, TX 2024

Cheapest Homeowners Insurance, El Paso, 2024

Our Methodology

To find the cheapest home insurance rates in El Paso, we analyzed findings from numerous home insurance review sites, some of which analyzed rates from public filings obtained by Quadrant Information Services. We’ve used an average of those rates for this review, but each company’s rates change frequently and will vary based on your situation. Also factored into the overall rating is my subjective opinion based on fifteen years of experience as a licensed insurance agent and over three decades of purchasing home insurance.

66

Quotes Analyzed

15+

Years Of Industry Experience

24

Brands Reviewed

40+

Research Hours

Cheapest homeowners insurance in El Paso, TX

Nationwide emerges as the cheapest overall option for homeowners insurance in El Paso, TX, with an average annual rate of $1,183.

Company Annual Premium
Nationwide $1,183
Travelers $1,337
State Farm $2,436
USAA $2,978
Allstate $3,650

The cost of your policy is influenced by many factors, including location, home value, and your claims history. Nationwide offers a balanced blend of affordability and comprehensive coverage.

Cheapest Homeowners Insurance In El Paso If You Have an Older Home

For those with older homes, State Farm offers the cheapest rates, averaging $2,264 per year.

Insurance Company Average Annual Premium
State Farm $2,264
USAA $2,773
Mercury $2,891
Progressive $2,789
Nationwide $4,145

Older homes often come with unique risks and maintenance issues, which can drive up insurance costs. State Farm offers competitive rates and comprehensive coverage tailored to meet the needs of older homes.

Cheapest Homeowners Insurance for Newly Constructed Homes

If you’re the proud owner of a newly constructed home, Farmers offers the most cost-effective solution, with an average annual rate of $1,072.

Insurance Company Average Annual Premium
Farmers $1,072
USAA $1,390
Amica $1,672
State Farm $1,717
Allstate $2,714

New constructions often require different coverage compared to older homes, and Farmers excels in providing affordable policies tailored to these specific needs.

Cheapest Homeowners Insurance If You Have Poor Credit

If your credit score is poor, Nationwide provides the most affordable solution, with an average annual rate of $1,994

Insurance Company Average Annual Premium
Nationwide $1,994
Travelers $3,246
State Farm $5,031
USAA $4,648
Farmers $6,580

Your credit score can significantly impact your insurance rates as it’s a key factor insurers consider when calculating risk. Nationwide understands that everyone deserves fair coverage, regardless of their financial past.

Cheapest Home Insurance In El Paso for a History of Claims

For homeowners with a history of claims, State Farm provides an affordable solution, with an average annual rate of $2,442.

Insurance Company Average Annual Premium
State Farm $2,442
USAA $2,876
Mercury $4,531
Progressive $4,045
Nationwide $6,720

A history of claims can raise red flags for insurers, often leading to higher premiums. However, State Farm believes in second chances and offers reasonable rates for those with past claims.

Cheapest Home Insurance Rates for Lots of Personal Property

If you have a wealth of personal property, Travelers offers the cheapest rates, with an average annual rate of $1,297.

Insurance Company Average Annual Premium
Travelers $1,297
Farmers $1,657
State Farm $2,476
USAA $3,041
Allstate $3,669

The more personal property you have, the higher your coverage needs, which can increase premiums. Travelers provides extensive coverage at reasonable rates, ensuring all your belongings are adequately protected.

Best Homeowners Insurance Companies in El Paso, TX

Choosing the right homeowners insurance is not just a necessity; it’s a strategic decision. With a rich history, El Paso’s homes are as unique as its residents. Therefore, finding an insurance provider that offers comprehensive coverage at competitive rates becomes paramount.

To make your decision-making process easier, we’ve compiled a list of the top homeowners insurance companies in El Paso, TX. These companies have been assessed based on their annual premiums, coverage options, customer satisfaction ratings, and overall reliability. Take a look at our comparison chart below and find the perfect fit for your home insurance needs.

Company Annual Premium
Travelers $1,337
Chubb $789
Hartford $1,921
Nationwide $1,183
Farmers $1,598
State Farm $2,436
USAA $2,978
Allstate $3,650

Average Home Insurance Rates by Zip Codes

The cost of homeowners insurance in El Paso TX can vary significantly based on the zip code. Below are tables showcasing rates for different zip codes in El Paso, along with the the cheapest and most expensive zip codes in the area for annual home insurance premiums.

ZIP Code Average Insurance Premium (Annual)
79906 $1,764
79910 $1,778
79927 $1,890
79968 $1,783
79907 $1,882
79905 $1,871

Cheapest Zip Codes

ZIP Code Average Insurance Premium (Annual)
79906 $1,764
79910 $1,778
79968 $1,783

Most Expensive Zip Codes

ZIP Code Average Insurance Premium (Annual)
79927 $1,890
79907 $1,882
79905 $1,871

Average Home Insurance Rates in El Paso, TX by Deductible Amount

The deductible amount chosen for a homeowners insurance policy significantly affects the premium rates in El Paso, TX. Here’s how the average home insurance rates fluctuate for different deductible amounts:

Deductible Amount Annual Rate
$500 $1,668
$1,000 $1,567
$2,000 $1,390
$5,000 $1,162

Average Home Insurance Rates in El Paso, TX By Coverage Amount

One of the key components that influences your premium is the dwelling coverage amount. This is the maximum amount your insurance company will pay to rebuild or repair your home if it’s damaged or destroyed.

Let’s take a closer look at a comparison chart that outlines the average annual homeowners insurance premiums for different dwelling coverage amounts.

Dwelling Coverage Amount Average Annual Premium
$100,000 $903
$200,000 $1,356
$300,000 $1,768
$350,000 $1,907
$400,000 $2,234

Average Home Insurance Rates in El Paso, TX by Company

Here’s a comparison table showcasing annual premiums from some of the top providers in El Paso:

Company Annual Premium
Travelers $1,337
Chubb $789
Hartford $1,921
Nationwide $1,183
Farmers $1,598
State Farm $2,436
USAA $2,978
Allstate $3,650

How Much is Homeowners Insurance for Other Cities in Texas?

The following is a  detailed comparison chart that showcases the cheapest companies and their annual premiums across various cities in Texas.

City Annual Premium
Odessa $3,346
Amarillo $3,830
Dallas $3,600
Corpus Christi $4,596

Getting Online Homeowners Insurance Quotes in Texas

With informative sites like Insuranceopedia, finding the best coverage for your unique needs is just a few clicks away. By providing quick online quotes from a variety of top-rated insurers, Insuranceopedia helps you to compare rates at a glance.

Just input your details and let us do the hard work, presenting you with a range of options tailored to your requirements. This way, you can confidently choose a policy that offers the highest value, balancing cost with comprehensive coverage.

FAQs

Who has the cheapest home insurance in El Paso, TX?

The cheapest home insurance in El Paso Texas, is provided by Nationwide with an annual premium of $1,183.

What is the average cost of home insurance in El Paso, TX?

The average cost of homeowners insurance in El Paso, Texas, is approximately $1,890 per year.

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