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

Chubb provides the most affordable homeowners insurance for homeowners in Waco, with an average annual quote of $2,131.

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Updated: 05 May 2024
Written by
Bob Phillips
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In our thorough evaluation of homeowners insurance providers in Waco, TX, Chubb stands out as the most budget-friendly option, with average annual rates of $2,131. However, it’s important to note that the best insurer for you may vary based on your unique circumstances and requirements.

For example, if your credit score has been impacted negatively, Chubb remains the most economical choice with an average annual premium of $3,650. On the other hand, for older homes, State Farm takes the lead with competitive rates of $3,008 per year, coupled with comprehensive coverage.

Conversely, if you own a newly constructed home, Nationwide offers the most cost-effective solution at $1,207 per year. And for individuals with a history of claims, State Farm provides an affordable and understanding solution at $3,752 per annum.

Lastly, if you have valuable personal property requiring protection, Travelers proves to be the best option, offering extensive coverage at a reasonable rate of $2,425 per year.

Our detailed analysis at Insuranceopedia aims to assist you in finding the perfect fit for your homeowners insurance needs. Through customer ratings, personal experiences, and comparison charts, we provide you with the necessary information to make a well-informed decision.

How much is homeowners insurance in Waco, TX?

Chubb provides the most budget-friendly rate for homeowners insurance in Waco, priced at $2,131 annually.

As evidenced below, homeowners insurance rates in Waco are higher than the national average. However, Waco rates are lower than the average rate for the state of Texas.

Area Average Monthly Rate
National $1,820
Texas $3,208
Waco $2,830

It’s crucial to grasp that insurance rates are not universal; they can vary significantly based on various factors.

Cheapest Homeowners Insurance in Waco, TX

Our Methodology

To identify the most affordable home insurance rates in Waco, we conducted an analysis using data from various home insurance review sites. Some of these sites sourced rates from public filings obtained through Quadrant Information Services. We've calculated an average of these rates for this review; however, it's important to note that each company's rates are subject to frequent changes and will vary based on your individual circumstances. Additionally, our overall rating considers my subjective opinion, which is 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 Waco, TX

Chubb stands out as the most affordable option for homeowners insurance in Waco, TX, with an average annual rate of $2,131.

Company Annual Premium
Chubb $2,131
Farmers $2,360
Allstate $2,899
State Farm $3,261
Nationwide $3,396

Your insurance policy’s cost is influenced by several factors such as your location, the value of your home, and your claims history. Chubb provides a balanced combination of affordability and comprehensive coverage.

Cheapest Homeowners Insurance In Waco If You Have an Older Home

Homeowners with older homes can find the most affordable rates with State Farm, averaging $3,008 per year.

Insurance Company Average Annual Premium
State Farm $3,008
USAA $3,273
Chuubb $3,891
Progressive $4,189
Nationwide $4,445

Older homes can present unique risks and maintenance challenges that may lead to higher insurance costs. However, State Farm offers competitive rates and comprehensive coverage specifically tailored to address the needs of older homes.

Cheapest Homeowners Insurance for Newly Constructed Homes

If you own a newly constructed home, Nationwide provides the most affordable solution, with an average annual rate of $1,207.

Insurance Company Average Annual Premium
Nationwide $1,207
Travelers $1,640
Chubb $1,870
Allstate $2,207
State Farm $2,339

Newly constructed homes typically require different coverage compared to older homes, and Nationwide is known for offering affordable policies tailored to these specific needs.

 

Cheapest Homeowners Insurance If You Have Poor Credit

If you have a poor credit score, Chubb offers the most affordable solution, with an average annual rate of $3,650.

Insurance Company Average Annual Premium
Chubb $3,650
Travelers $4,652
Nationwide $4,915
State Farm $6,720
Farmers $9,982

Your credit score plays a significant role in determining your insurance rates, as it’s a crucial factor that insurers consider when assessing risk. Chubb recognizes the importance of fair coverage for everyone, regardless of their financial history.

Cheapest Home Insurance In Waco for a History of Claims

Homeowners with a history of claims can find an affordable solution with State Farm, which offers an average annual rate of $3,752.

Insurance Company Average Annual Premium
State Farm $3,752
USAA $3,907
Mercury $4,363
Progressive $4,535
Nationwide $6,320

Insurers get cautious when they see a lot of past claims since it might mean higher premiums for you. But State Farm thinks everyone deserves another shot and gives fair rates even if you’ve had claims before.

Cheapest Home Insurance Rates for Lots of Personal Property

If you own a lot of personal property, Travelers provides the most affordable rates, averaging around $2,425 per year.

Insurance Company Average Annual Premium
Travelers $2,425
Allstate $2,918
Hartford $3,242
State Farm $3,290
Nationwide $3,708

Having more personal property means you need higher coverage, which can raise your premiums. Travelers offers comprehensive coverage at fair rates to make sure all your belongings are well-protected.

Best Homeowners Insurance Companies in Waco, TX

Selecting the proper homeowners insurance isn’t just essential; it’s a smart move. With Waco’s diverse array of homes reflecting its residents, it’s crucial to find an insurer that provides thorough coverage at competitive prices.

To simplify your decision-making, we’ve gathered a list of the leading homeowners insurance companies in Waco, TX. These insurers have been evaluated based on factors like yearly premiums, coverage choices, customer satisfaction scores, and overall dependability. Check out our comparison chart below to discover the ideal match for your home insurance requirements.

Company Annual Premium
Chubb $2,131
Farmers $2,360
Allstate $2,899
State Farm $3,261
Nationwide $3,396
USAA $2,947
Hartford $3,163
Amica $4,654

Average Home Insurance Rates by Zip Codes

The price of homeowners insurance in Waco, TX can vary depending on the zip code you’re in. Below are tables showing rates for different zip codes in Waco, along with the cheapest and most expensive zip codes for annual home insurance premiums in the area.

ZIP Code Average Insurance Premium (Annual)
76701 $4,174
76704 $3,058
76705 $3,670
76706 $3,695
76707 $3,702
76708 $3,239
76710 $4,556
76711 $3,778
76712 $3,155
76798 $3,877

Cheapest Zip Codes

ZIP Code Average Insurance Premium (Annual)
76712 $3,155
76708 $3,239
76704 $3,058

Most Expensive Zip Codes

ZIP Code Average Insurance Premium (Annual)
76701 $4,174
76710 $4,556
76798 $3,877

Average Home Insurance Rates in Waco, TX by Deductible Amount

The deductible you choose for your homeowners insurance policy has a big impact on the premium rates in Waco, TX. Here’s how the average home insurance rates change for different deductible amounts:

Deductible Amount Annual Rate
$500 $3,278
$1,000 $3,057
$2,000 $2,444
$5,000 $2,190

Average Home Insurance Rates in Waco, TX By Coverage Amount

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

Let’s examine a comparison chart that details the average annual premiums for different dwelling coverage amounts.

Dwelling Coverage Amount Average Annual Premium
$100,000 $1,734
$200,000 $2,426
$300,000 $3,265
$350,000 $3,979
$400,000 $4,316

Average Home Insurance Rates in Waco, TX by Company

Below is a comparison table displaying annual premiums from some of the top insurance providers in Waco

Company Annual Premium
Chubb $2,131
Farmers $2,360
Allstate $2,899
State Farm $3,261
Nationwide $3,396
USAA $2,947
Hartford $3,163
Amica $4,654
 

How Much is Homeowners Insurance for Other Cities in Texas?

Below is a detailed comparison chart displaying 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 websites like Insuranceopedia, discovering the best coverage for your specific needs is easy and convenient. With quick online quotes from top-rated insurers, Insuranceopedia allows you to compare rates effortlessly.

Simply input your details, and we’ll handle the rest, presenting you with a variety of options tailored to your needs. This way, you can confidently select a policy that offers the best value, balancing cost with comprehensive coverage.

FAQs

Who has the cheapest home insurance in Waco, TX?

Chubb offers the cheapest home insurance in Waco, Texas, with an annual premium of $2,131.

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

On average, homeowners insurance in Waco, Texas, costs around $2,830 per year.

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