Best & Cheapest Homeowners Insurance in Lubbock, TX June, 2024

Chubb offers the least expensive home insurance for homeowners in Lubbock, coming in at an average annual price of $2,073.

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Updated: 05 May 2024
Written by
Bob Phillips
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In our thorough analysis of home insurance options in Lubbock, Texas, Chubb emerges as the most budget-friendly choice, offering average yearly rates of $2,073. However, it’s crucial to note that the ideal insurer for you may differ based on your unique circumstances and requirements.

For example, if you have a lower credit score, Nationwide offers the most economical option with an average annual premium of $4,723. Conversely, for owners of older homes, Nationwide also provides competitive rates of $4,164 per year alongside comprehensive coverage.

Likewise, if you own a newly constructed home, Chubb once again offers the most affordable solution at $1,480 per year. And for individuals with a history of claims, Progressive presents a compassionate and affordable choice at $4,060 annually.

Moreover, if you possess valuable personal belongings that necessitate protection, Chubb remains the top choice, delivering extensive coverage at a reasonable cost of $2,256 per year.

Our in-depth evaluation at Insuranceopedia aims to assist you in finding the perfect match for your home insurance requirements. By comparing customer ratings, assessing personal experiences, and presenting comparison charts, we furnish all the essential details to empower you to make a well-informed decision.

How much is homeowners insurance in Lubbock, TX?

Chubb offers the most affordable choice for homeowners’ insurance in Lubbock, with an annual premium of $2,073.

As shown below, insurance rates in Lubbock are above both the national average and the average rate for the state of Texas.

Area Average Monthly Rate
National $1,820
Texas $3,208
Lubbock $3,596

Understanding that insurance rates are flexible and can vary significantly based on multiple factors is essential.

Cheapest Homeowners Insurance in Lubbock, TX

Our Methodology

In our quest to find the most affordable home insurance rates in Lubbock, we analyzed data from different home insurance review platforms, including some that sourced rates from public filings via Quadrant Information Services. We averaged these rates for our assessment. It's worth noting that rates from each company can vary frequently and are influenced by your unique circumstances. Furthermore, our comprehensive rating also considers my personal viewpoint, drawing from fifteen years of experience as a licensed insurance agent and over three decades of purchasing home insurance policies.

66

Quotes Analyzed

15+

Years Of Industry Experience

24

Brands Reviewed

40+

Research Hours

Cheapest homeowners insurance in Lubbock, TX

Chubb is the standout choice for budget-friendly homeowners insurance in Lubbock, TX, with an average annual rate of $2,073.

Company Annual Premium
Chubb $2,073
Travelers $3,492
Nationwide $3,507
Allstate $4,410
State Farm $4,518

Your insurance policy’s price can be impacted by several factors including where you live, the value of your home, and your claims history. Chubb offers a balanced mix of affordability and comprehensive coverage.

Cheapest Homeowners Insurance In Lubbock If You Have an Older Home

For homeowners with older homes, Nationwide provides the most cost-effective rates, averaging $4,164 per year.

Insurance Company Average Annual Premium
Nationwide $4,164
USAA $4,456
State Farm $4,970
Travelers $5,920
Amica $6,145

Older homes often come with unique risks and maintenance needs, leading to potentially higher insurance costs. Nationwide addresses these specific requirements by offering competitive rates and comprehensive coverage tailored for older homes.

Cheapest Homeowners Insurance for Newly Constructed Homes

Chubb provides the most economical choice for homeowners with newly constructed homes, boasting an average annual rate of $1,480.

Insurance Company Average Annual Premium
Chubb $1,480
Travelers $2,490
Allstate $3,140
State Farm $3,220
Farmers $3,397

Newly constructed homes typically demand distinct coverage compared to older properties, and Chubb stands out in offering cost-effective policies customized to address these specific needs.

Cheapest Homeowners Insurance If You Have Poor Credit

For individuals with a low credit score, Nationwide provides the most budget-friendly solution, with an average annual rate of $4,723.

Insurance Company Average Annual Premium
Nationwide $4,723
USAA $5,895
Travelers $6,230
State Farm $9,315
Farmers $9,962

Your credit score plays a significant role in determining your insurance rates as it is a key factor that insurers consider when evaluating risk. Nationwide acknowledges the importance of offering fair coverage to all individuals, regardless of their financial background or credit score.

Cheapest Home Insurance Rates for Lots of Personal Property

For individuals with a substantial amount of personal property, Chubb provides the most cost-effective rates, averaging $2,256 per year.

Insurance Company Average Annual Premium
Chubb $2,256
Travelers $3,780
Nationwide $3,797
Allstate $4,780
State Farm $4,895

Owning more personal property can lead to higher coverage requirements and potentially higher premiums. However, Chubb offers comprehensive coverage at reasonable rates, ensuring that all your belongings are adequately protected.

Cheapest Home Insurance In Lubbock for a History of Claims

Homeowners with a history of claims can discover an affordable solution with Progressive, offering an average annual rate of $4,060.

Insurance Company Average Annual Premium
Progressive $4,060
USAA $4,206
Mercury $4,660
Nationwide $5,720
Amica $9,276

A track record of claims can signal higher risk to insurers, often resulting in higher premiums. Nonetheless, Progressive believes in providing second chances and offers reasonable rates for individuals with previous claims.

Best Homeowners Insurance Companies in Lubbock, TX

Choosing the right homeowners insurance is not just important; it’s a strategic choice. Given Lubbock’s varied homes and rich history, finding an insurer that offers comprehensive coverage at competitive rates is crucial.

To streamline your decision-making, we’ve compiled a list of the top homeowners insurance companies in Lubbock, TX. These companies were assessed based on criteria such as annual premiums, coverage choices, customer satisfaction ratings, and overall dependability. Take a look at our comparison chart below to find the perfect match for your home insurance requirements.

Company Annual Premium
1. Chubb $2,073
2. Travelers $3,492
3. Nationwide $3,507
4. Allstate $4,410
5. State Farm $4,518
6. Hartford $3,370
7. USAA $3,920
8. Amica $4,459
9. Farmers $4,750

Average Home Insurance Rates by Zip Codes

Homeowners insurance costs in Lubbock, TX can differ notably depending on the zip code. Below are tables presenting rates for various zip codes in Lubbock, along with the least and most expensive zip codes for annual home insurance premiums in the area.

ZIP Code Average Insurance Premium (Annual)
79402 $3,322
79409 $3,321
79407 $3,344
79430 $4,168
79406 $3,402
79403 $3,397

Cheapest Zip Codes

ZIP Code Average Insurance Premium (Annual)
79402 $3,322
79409 $3,321
79407 $3,344

Most Expensive Zip Codes

ZIP Code Average Insurance Premium (Annual)
79430 $4,168
79406 $3,402
79403 $3,397

Average Home Insurance Rates in Lubbock, TX by Deductible Amount

The deductible amount chosen for a homeowners insurance policy has a notable effect on premium rates in Lubbock, TX. Here’s an overview of how average home insurance rates fluctuate based on different deductible amounts:

Deductible Amount Annual Rate
$500 $3,084
$1,000 $2,899
$2,000 $2,607

Average Home Insurance Rates in Lubbock, TX By Coverage Amount

Here’s a chart comparing the average annual premiums for homeowners insurance based on various dwelling coverage amounts, which is the maximum your insurance would pay to rebuild or repair your home if damaged or destroyed:

Dwelling Coverage Amount Average Annual Premium
$200,000 $2,554
$250,000 $2,909
$300,000 $3,656
$400,000 $4,221

Average Home Insurance Rates in Lubbock, TX by Company

Here’s a comparison chart showcasing the annual premiums from several prominent insurance providers in Lubbock.:

Company Annual Premium
Chubb $2,073
Travelers $3,492
Nationwide $3,507
Allstate $4,410
State Farm $4,518
Hartford $3,370
USAA $3,920
Amica $4,459
Farmers $4,750

How Much is Homeowners Insurance for Other Cities in Texas?

Below is a detailed comparison chart that highlights the most affordable insurance companies and their annual premiums across different cities in Texas.

City Annual Premium
Austin $2,187
Amarillo $3,830
Dallas $3,600
Corpus Christi $4,596

Getting Online Homeowners Insurance Quotes in Texas

Platforms such as Insuranceopedia simplify the task of finding customized coverage that fits your unique requirements with minimal effort. They achieve this by providing instant online quotes from highly rated insurers, making it easy to compare rates.

All you need to do is enter your information, and Insuranceopedia takes care of the rest by presenting you with personalized options. This allows you to confidently choose a policy that delivers the best value, effectively balancing cost and comprehensive coverage.

FAQs

Who has the cheapest home insurance in Lubbock, TX?

Chubb provides the least expensive home insurance in Lubbock, Texas, with an annual premium of $2,073.

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

On average, homeowners insurance in Lubbock, Texas, costs around $3,596 per year.

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