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

Chubb provides the most affordable homeowners insurance for residents in McKinney, Texas, with an average annual quote of $1,710.

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Updated: 05 May 2024
Written by
Bob Phillips
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In our thorough examination of homeowners insurance providers in McKinney, TX, Chubb stands out as the most cost-effective option, offering average annual rates of $1,710. However, it’s important to note that the best insurer for you may vary depending on your individual circumstances.

For example, if your credit score has been impacted, Chubb remains the most economical choice with an average annual premium of $2,936. Conversely, for older homes, State Farm offers competitive rates of $2,760 per year along with comprehensive coverage.

For owners of newly constructed homes, Chubb provides the most affordable solution at $1,498 per year. Meanwhile, for individuals with a claims history, USAA offers an understanding and budget-friendly option at $3,007 per year.

If you have a significant amount of personal property that requires protection, Nationwide proves to be the best option, offering extensive coverage at a reasonable rate of $2,160 per year.

At Insuranceopedia, our detailed analysis aims to help you find the perfect fit for your homeowners’ insurance needs. Through customer ratings, personal experiences, and comparison charts, we provide all the information necessary to make an informed decision.

How much is homeowners insurance in McKinney, TX?

Chubb provides the most budget-friendly option for homeowners insurance in McKinney, with an annual rate of $1,710.

As illustrated below, homeowners insurance rates in McKinney exceed both the national and Texas state averages.

Area Average Monthly Rate
National $1,820
Texas $3,208
McKinney $3,790

It’s crucial to recognize that insurance rates aren’t standardized; they can vary greatly depending on numerous factors.

Cheapest Homeowners Insurance in McKinney, TX 2024

Our Methodology

To identify the most affordable home insurance rates in McKinney, we conducted an analysis of various home insurance review sites, including those that examined rates from public filings obtained by Quadrant Information Services. We've averaged those rates for this review, but it's important to note that each company's rates can fluctuate frequently and will depend on your individual circumstances. Additionally, my subjective opinion, based on fifteen years of experience as a licensed insurance agent and over three decades of purchasing home insurance, has been factored into the overall rating.

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Quotes Analyzed

15+

Years Of Industry Experience

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Brands Reviewed

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Research Hours

Cheapest homeowners insurance in McKinney, TX

Chubb stands out as the most cost-effective choice for homeowners insurance in McKinney, TX, with an average annual rate of $1,710.

Company Annual Premium
Chubb $1,710
Universal North America $2,094
Allstate $3,460
State farm $4,684
Nationwide $5,147

The price of your policy is influenced by various factors such as location, home value, and your claims history. Chubb provides a balanced combination of affordability and comprehensive coverage.

Cheapest Homeowners Insurance In McKinney If You Have an Older Home

State Farm provides the most affordable rates for homeowners with older homes, averaging $2,760 per year.

Insurance Company Average Annual Premium
State Farm $2,760
USAA $2,890
Progressive $3,954
Nationwide $4,165
Chubb $4,190

Older homes frequently carry unique risks and maintenance requirements, which can result in higher insurance expenses. State Farm addresses these challenges by providing competitive rates and comprehensive coverage specifically designed to suit the needs of older homes.

Cheapest Homeowners Insurance If You Have Poor Credit

For people with a poor credit score, Chubb offers the most affordable solution, with an average annual rate of $2,936.

Insurance Company Average Annual Premium
Chubb $2,936
USAA $5,440
Allstate $6,957
Nationwide $7,340
State Farm $9,657

Your credit score plays a crucial role in determining your insurance rates, as insurers use it to assess risk. Chubb recognizes the importance of providing fair coverage to everyone, regardless of their financial history.

Cheapest Homeowners Insurance for Newly Constructed Homes

If you own a newly constructed home, Chubb provides the most cost-effective solution, with an average annual rate of $1,392.

Insurance Company Average Annual Premium
Chubb $1,392
USAA $2,280
Allstate $2,651
Travelers $2,670
State Farm $3,355

Newly constructed homes often require different coverage compared to older homes, and Chubb excels in providing affordable policies tailored to these specific needs.

Cheapest Home Insurance In McKinney for a History of Claims

Homeowners with a history of claims can find an affordable solution with USAA, offering an average annual rate of $3,007.

Insurance Company Average Annual Premium
USAA $3,007
State Farm $3,734
Progressive $4,044
Chubb $5,416
Nationwide $6,730

A history of claims can often result in higher premiums due to increased risk for insurers. However, USAA believes in giving second chances and offers reasonable rates for those with past claims.

Cheapest Home Insurance Rates for Lots of Personal Property

For homeowners with a wealth of personal property, Nationwide offers the most affordable rates, with an average annual rate of $2,160.

Insurance Company Average Annual Premium
Nationwide $2,160
Travelers $2,360
Farmers $2,645
Allstate $2,897
State Farm $3,349

The more personal property you have, the higher your coverage needs, which can result in increased premiums. Nationwide addresses this by providing extensive coverage at reasonable rates, ensuring that all your belongings are adequately protected.

Best Homeowners Insurance Companies in McKinney, TX

Selecting the right homeowners insurance isn’t just about necessity; it’s a strategic choice. With its rich history, McKinney’s homes are as unique as its residents. Therefore, finding an insurance provider that offers comprehensive coverage at competitive rates becomes essential.

To simplify your decision-making process, we’ve compiled a list of the top homeowners insurance companies in McKinney, TX. These companies have been evaluated 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
Chubb $1,710
Universal North America $2,094
Allstate $3,460
State farm $4,684
Nationwide $5,147
Farmers $3,468
Travelers $3,876
Hartford $5,298

Average Home Insurance Rates by Zip Codes

Home insurance rates in McKinney, TX can differ greatly depending on the zip code. Here are tables displaying rates for various zip codes in McKinney, showing both the cheapest and most expensive zip codes for annual home insurance premiums.

ZIP Code Average Insurance Premium (Annual)
75069 $1,401
75075 $1,065
75070 $1,387
75035 $1,109
75071 $1,399
75072 $1,432

Cheapest Zip Codes

ZIP Code Average Insurance Premium (Annual)
75075 $1,065
75035 $1,109
75074 $1,126
75078 $1,167

Most Expensive Zip Codes

ZIP Code Average Insurance Premium (Annual)
75069 $1,401
75070 $1,387
75071 $1,399
75072 $1,432

Average Home Insurance Rates in McKinney, TX by Deductible Amount

The deductible amount selected for a homeowners insurance policy has a notable impact on premium rates in McKinney, TX. Here’s a breakdown of how average home insurance rates vary for different deductible amounts:

Deductible Amount Annual Rate
$500 $2,797
$1,000 $2,636
$2,000 $2,548
$5,000 $2,213

Average Home Insurance Rates in McKinney, TX By Coverage Amount

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

Now, let’s examine a comparison chart showing the average annual homeowners insurance premiums for various dwelling coverage amounts.

Dwelling Coverage Amount Average Annual Premium
$200,000 $1,734
$250,000 $2,240
$300,000 $2,367
$350,000 $2,785
$400,000 $3,086

Average Home Insurance Rates in McKinney, TX by Company

Below is a comparison table displaying the annual premiums from some of the leading providers in McKinney.

Company Annual Premium
Chubb $1,710
Universal North America $2,094
Allstate $3,460
State farm $4,684
Nationwide $5,147
Farmers $3,468
Travelers $3,876
Hartford $5,298

How Much is Homeowners Insurance for Other Cities in Texas?

Here is a detailed comparison chart that displays the cheapest companies and their annual premiums across various cities in Texas.

City Annual Premium
Odessa $3,346
Amarillo $3,830
Dallas $3,600
San Antonio $2,320

Getting Online Homeowners Insurance Quotes in Texas

With informative platforms like Insuranceopedia, finding the best coverage for your unique needs is just a few clicks away. By offering quick online quotes from a range of top-rated insurers, Insuranceopedia makes it easy to compare rates at a glance.

Simply input your details and let us do the hard work, presenting you with a variety of options tailored to your requirements. This allows you to confidently choose a policy that offers the best value, balancing cost with comprehensive coverage.

FAQs

Who has the cheapest home insurance in McKinney, TX?

Chubb offers the most affordable home insurance in McKinney, Texas, with an annual premium of $1,710.

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

The average annual cost of homeowners insurance in McKinney, Texas, is around $3,790.

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