Best & Cheapest Homeowners Insurance in Plano, TX 2024
Chubb offers the most budget-friendly homeowners insurance for Plano residents, with an average annual quote of $1,715.
In our comprehensive assessment of homeowners insurance providers in Plano, TX, Chubb stands out as the most economical choice, with average annual rates of $1,715. However, it’s crucial to note that the best insurer for you may vary based on your specific circumstances.
For instance, if you have a lower credit score, Chubb remains the most cost-effective option with an average annual premium of $3,027. If your home is older, Nationwide offers competitive rates at $2,840 per year, along with comprehensive coverage.
On the other hand, if you own a newly constructed home, Nationwide still provides the most affordable solution at $1,468 per year. And for individuals with a history of claims, State Farm presents an affordable and understanding option at $3,160 annually.
Additionally, if you have valuable personal property requiring protection, Travelers emerges as the top choice, offering extensive coverage at a reasonable $2,137 per year.
Our detailed analysis at Insuranceopedia aims to guide you toward the ideal homeowners insurance match. Through customer ratings comparison, evaluation of personal experiences, and presentation of comparison charts, we provide all the essential information to empower you to make an informed decision.
How much is homeowners insurance in Plano, TX?
Chubb offers the most budget-friendly homeowners insurance rate in Plano, priced at $1,715 annually.
As shown below, rates in Plano are higher than both the national average and the average rate for the state of Texas.
| Area | Average Monthly Rate |
| National | $1,820 |
| Texas | $3,208 |
| Plano | $3,778 |
It’s important to understand that insurance rates are not fixed; they can vary significantly based on various factors.
Cheapest Homeowners Insurance in Plano, TX
Our Methodology
In our search for the most affordable home insurance rates in Plano, we reviewed data from multiple home insurance review sites, including analyses of rates obtained from public filings by Quadrant Information Services. We've averaged these rates for our review, but it's worth noting that rates from each company can change frequently and are influenced by your specific circumstances. Moreover, our overall rating incorporates my subjective perspective, based on fifteen years of experience as a licensed insurance agent and over three decades of purchasing home insurance policies.
Quotes Analyzed
Years Of Industry Experience
Brands Reviewed
Research Hours
Cheapest homeowners insurance in Plano, TX
Chubb is the standout choice overall for affordable homeowners insurance in Plano, TX, with an average annual rate of $1,715.
| Company | Annual Premium |
| Chubb | $1,715 |
| Travelers | $3,590 |
| Allstate | $3,946 |
| State Farm | $4,330 |
| Nationwide | $4,917 |
Several factors can impact the cost of your policy, including where you live, the value of your home, and your claims history. Chubb offers a balanced combination of affordability and comprehensive coverage.
Cheapest Homeowners Insurance In Plano If You Have an Older Home
Homeowners with older homes can find the most affordable rates with Nationwide, averaging $2,840 per year.
| Insurance Company | Average Annual Premium |
| Nationwide | $2,840 |
| State Farm | $2,987 |
| Allstate | $3,620 |
| Texas FAIR | $3,919 |
| Amica | $4,674 |
Older homes often come with unique risks and maintenance challenges that can result in higher insurance costs. However, Nationwide offers competitive rates and comprehensive coverage specifically designed to address the needs of older homes.
Cheapest Homeowners Insurance for Newly Constructed Homes
If you’ve recently acquired a newly constructed home, Nationwide offers the most cost-effective solution, with an average annual rate of $1,468.
| Insurance Company | Average Annual Premium |
| Nationwide | $1,468 |
| Travelers | $2,346 |
| USAA | $1,437 |
| State Farm | $2,098 |
| Allstate | $2,072 |
Newly constructed homes typically require different coverage compared to older ones, and Nationwide excels in providing affordable policies customized to address these specific requirements.
Cheapest Homeowners Insurance If You Have Poor Credit
For individuals with lower credit scores, Chubb provides the most affordable solution, with an average annual rate of $3,027.
| Insurance Company | Average Annual Premium |
| Chubb | $3,027 |
| USAA | $5,892 |
| Travelers | $6,858 |
| Nationwide | $6,873 |
| State Farm | $8,920 |
Your credit score is a major factor in determining your insurance rates, as insurers use it to evaluate risk. Chubb recognizes the importance of providing fair coverage to everyone, irrespective of their financial history.
Cheapest Home Insurance In Plano for a History of Claims
Homeowners with a history of claims can discover an affordable solution with State Farm, which offers an average annual rate of $3,160.
| Insurance Company | Average Annual Premium |
| State Farm | $3,160 |
| Mercury | $3,610 |
| Nationwide | $4,651 |
| AmGuard | $5,057 |
| Amica | $7,640 |
A history of claims can indeed be a concern for insurers and may lead to higher premiums. However, State Farm believes in giving second chances and offers reasonable rates for individuals with past claims.
Cheapest Home Insurance Rates for Lots of Personal Property
Individuals with a substantial amount of personal property can find the most affordable rates with Travelers, which offers an average annual rate of $2,137.
| Insurance Company | Average Annual Premium |
| Travelers | $2,137 |
| Allstate | $3,960 |
| USAA | $4,064 |
| State Farm | $4,378 |
| Nationwide | $5,380 |
As the value of your personal property increases, so do your coverage needs, which can result in higher premiums. Travelers provides comprehensive coverage at reasonable rates, ensuring that all your belongings are adequately protected.
Best Homeowners Insurance Companies in Plano, TX
Choosing the right homeowners insurance isn’t just important; it’s a strategic decision. With its diverse homes and residents, Plano requires an insurance provider that offers comprehensive coverage at competitive rates.
To simplify your decision-making process, we’ve compiled a list of the top homeowners insurance companies in Plano, TX. These companies were assessed based on criteria such as annual premiums, coverage options, customer satisfaction ratings, and overall reliability. Explore our comparison chart below to find the perfect match for your home insurance needs.
| Company | Annual Premium |
| Chubb | $1,715 |
| Travelers | $3,590 |
| Allstate | $3,946 |
| Farmers | $3,794 |
| State Farm | $4,330 |
| Nationwide | $4,917 |
| Amica | $4,380 |
| Hartford | $5,179 |
Average Home Insurance Rates by Zip Codes
The cost of homeowners insurance in Plano, TX can vary widely depending on the zip code. Below, you’ll find tables that display the rates for different zip codes in Plano, along with the cheapest and most expensive zip codes in the area for annual home insurance premiums.
| ZIP Code | Average Insurance Premium (Annual) |
| 75024 | $3,197 |
| 75025 | $3,184 |
| 75074 | $3,238 |
| 75023 | $3,269 |
| 75093 | $3,288 |
| 75075 | $3,258 |
Cheapest Zip Codes
| ZIP Code | Average Insurance Premium (Annual) |
| 75024 | $3,197 |
| 75025 | $3,184 |
| 75074 | $3,238 |
Most Expensive Zip Codes
| ZIP Code | Average Insurance Premium (Annual) |
| 75023 | $3,269 |
| 75093 | $3,288 |
| 75075 | $3,258 |
Average Home Insurance Rates in Plano, TX by Deductible Amount
The deductible amount selected for a homeowners insurance policy has a significant impact on premium rates in Plano, TX. Here’s an overview of how average home insurance rates fluctuate based on different deductible amounts:
| Deductible Amount | Annual Rate |
| $500 | $3,015 |
| $1,000 | $2,820 |
| $1,500 | $2,438 |
| $2,000 | $2,022 |
| $4,000 | $1,875 |
Average Home Insurance Rates in Plano, TX By Coverage Amount
An essential factor that influences your premium is the dwelling coverage amount, which signifies the maximum sum your insurance company will pay to rebuild or repair your home in the event of damage or destruction.
Let’s now review a comparison chart depicting the average annual homeowners insurance premiums for different dwelling coverage amounts.
| Dwelling Coverage Amount | Average Annual Premium |
| $200,000 | $2,364 |
| $250,000 | $2,830 |
| $300,000 | $3,367 |
| $350,000 | $3,737 |
| $400,000 | $4,150 |
Average Home Insurance Rates in Plano, TX by Company
Here’s a comparison table displaying the annual premiums from some of the leading providers in Plano:
| Company | Annual Premium |
| Chubb | $1,715 |
| Travelers | $3,590 |
| Allstate | $3,946 |
| Farmers | $3,794 |
| State Farm | $4,330 |
| Nationwide | $4,917 |
| Amica | $4,380 |
| Hartford | $5,179 |
How Much is Homeowners Insurance for Other Cities in Texas?
Below is a detailed comparison chart highlighting the most affordable companies and their annual premiums across different 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
Websites like Insuranceopedia simplify the process of finding the right coverage for your unique needs. By providing quick online quotes from top-rated insurers, Insuranceopedia makes it easy for you to compare rates.
Just input your information, and we’ll do the rest by presenting you with personalized options that match your requirements. This empowers you to choose a policy with confidence, ensuring you get the best value while balancing cost and comprehensive coverage.
FAQs
Who has the cheapest home insurance in Plano, TX?
Chubb provides the most budget-friendly home insurance in Plano, Texas, with an annual premium of $1,715.
What is the average cost of home insurance in Plano, TX?
On average, homeowners insurance in Plano, Texas, costs approximately $3,778 per year.
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