Best & Cheapest Homeowners Insurance in Odessa, TX April, 2024

Nationwide offers the cheapest homeowners insurance to homeowners in Odessa, with an average annual quote of $3,087.

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Updated: 19 April 2024
Written by
Bob Phillips
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In our comprehensive review of homeowners insurance providers in Odessa, TX, Nationwide emerges as the most budget-friendly option, with average annual rates of $3,087. 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, Chubb stands out as the most economical choice with an average annual premium of $4,630. In contrast, if your home is on the older side, State Farm rises to the top with its competitive rates of $3,578 per year, and comprehensive coverage.

On the other hand, if you’re the proud owner of a newly constructed home, USAA offers the most cost-effective solution at $2,013 per year. And for those who’ve had a history of claims, State Farm provides an affordable and understanding solution at $4,452 per annum.

Last, if you possess a wealth of personal property that needs protection, Nationwide again proves to be your best bet, offering extensive coverage at a reasonable $3,384 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 Odessa, TX?

Nationwide offers the most affordable rate for homeowners insurance in Odessa at $3,087 annually.

As you can see below, rates in Odessa are more expensive than the National average. Odessa rates are  also slightly higher than the Texas State average rate.

Area Average Monthly Rate
National $1,820
Texas $3,208
Odessa $3,346

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 Odessa, TX

Our Methodology

To find the cheapest home insurance rates in Odessa, 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 Odessa, TX

Nationwide emerges as the cheapest overall option for homeowners insurance in Odessa, TX, with an average annual rate of $3,087.

Company Annual Premium
Nationwide $3,087
USAA $3,165
Travelers $3,437
Allstate $3,984
State Farm $4,416

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 Odessa If You Have an Older Home

For those with older homes, State Farm offers the cheapest rates, averaging $3,578 per year.

Insurance Company Average Annual Premium
State Farm $3,578
Nationwide $4,460
UPC $5,023
Texas FAIR $5,403
Amica $7,545

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, USAA offers the most cost-effective solution, with an average annual rate of $2,013.

Insurance Company Average Annual Premium
USAA $2,013
Travelers $2,346
Chubb $2,372
State Farm $3,017
Allstate $3,156

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

Cheapest Homeowners Insurance If You Have Poor Credit

If your credit score is poor, Chubb provides the most affordable solution, with an average annual rate of $4,630

Insurance Company Average Annual Premium
Chubb $4,630
Travelers $6,718
Allstate $7,994
State Farm $9,105
Farmers $12,298

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

Cheapest Home Insurance In Odessa for a History of Claims

For homeowners with a history of claims, State Farm provides an affordable solution, with an average annual rate of $4,452.

Insurance Company Average Annual Premium
State Farm $4,452
Mercury $4,773
Nationwide $6,051
AmGuard $8,467
Amica $12,450

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, Nationwide offers the cheapest rates, with an average annual rate of $3,384.

Insurance Company Average Annual Premium
Nationwide $3,384
Travelers $3,507
Allstate $4,009
State Farm $4,453
Amica $5,198

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

Best Homeowners Insurance Companies in Odessa, TX

Choosing the right homeowners insurance is not just a necessity; it’s a strategic decision. With a rich history, Odessa’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 Odessa, 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
Allstate $3,984
Farmers $3,309
Universal $1,390
Amica $5,508
Nationwide $3,087
USAA $3,165
Travelers $3,437
Chubb $2,687
State Farm $4,416

Average Home Insurance Rates by Zip Codes

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

ZIP Code Average Insurance Premium (Annual)
79763 $3,348
79766 $3,354
79764 $3,342
79761 $3,434
79765 $3,341
79762 $3,435

Cheapest Zip Codes

ZIP Code Average Insurance Premium (Annual)
79765 $3,341
79764 $3,342
79763 $3,348

Most Expensive Zip Codes

ZIP Code Average Insurance Premium (Annual)
79761 $3,434
79762 $3,435
79766 $3,354

Average Home Insurance Rates in Odessa, TX by Deductible Amount

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

Deductible Amount Annual Rate
$500 $2,885
$1,000 $2,078
$2,000 $646

Average Home Insurance Rates in Odessa, 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 $1,546
$200,000 $2,431
$300,000 $3,375
$350,000 $3,866
$400,000 $4,347

Average Home Insurance Rates in Odessa, TX by Company

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

Company Annual Premium
Allstate $3,984
Farmers $3,309
Universal $1,390
Amica $5,508
Nationwide $3,087
USAA $3,165
Travelers $3,437
Chubb $2,687
State Farm $4,416

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
San Antonio $2,320
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 Odessa, TX?

The cheapest home insurance in Odessa, Texas, is provided by Nationwide with an annual premium of $3,087.

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

The average cost of homeowners insurance in Odessa, Texas, is approximately $3,346 per year.

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