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Home Insurance and Car Insurance in Texas
One of the most important choices you can make for your Texas home or vehicle is to buy home and auto insurance. By investing in financial protection, you can provide yourself with a financial cushion if your home or vehicle sees damage.The easiest way to save money on your home and auto insurance is to bundle them together. At SelectQuote, we help our customers secure great, affordable insurance coverage through policy bundle discounts.Homeowners Insurance in Texas
Buying home insurance in Texas can help protect you from total or near-total loss in the event of a catastrophe. It’s also important for incidental loss such as hail, fire, theft or other unfortunate events that could happen to your property.Your homeowners insurance premiums will vary based on your total coverage and where you live. There are two different types of home insurance policies to choose from in Texas: an actual cash value policy and a replacement cost policy.
- Actual cash value policies provide coverage up to the limit when you buy. Say your policy’s limit is $250,000, and repairs or the cost to rebuild your home is $300,000. You would be responsible for the remaining $50,000.
- Replacement cost policies pay the actual costs of a rebuild, minus depreciation. It is not affected by inflation, zoning updates or increased materials or labor costs. Replacement cost policies are more expensive, but they can be a better choice if you plan to stay in your home for a while.
While the median sales price of homes in Texas reached 330,0001 in 2022, it’s important for homeowners to understand that the value of your home’s structure isn’t the only factor to consider when purchasing home insurance.
Homeowners Insurance Coverage Options in Texas
Most homeowners insurance policies in Texas will include most (if not all) of the following types of home insurance coverage:- Dwelling coverage is a standard policy that covers the actual physical structure of your home. If you have an attached garage or other structure, this will be covered as well.
- Personal property coverage works to cover your household belongings. If it’s inside or outside your home, it is covered.
- Personal liability coverage protects you in the event that someone is injured on your property and you’re found at fault. It also covers damage to another person’s property.
- Guest medical protection coverage exists to cover people who are injured on your property, regardless of who may be at fault.
Common Causes of Loss in Texas
Types of insurance claims can vary depending on where you live. Texas is a large state, and there is no shortage of disasters that could damage your property. In 2021, homeowners losses incurred in Texas exceeded $53 million.2 Common Texas insurance claims include:- Water damage due to burst pipes and plumbing issues
- Hail damage due to thunderstorms or hurricanes
- Wind damage due to thunderstorms, tornadoes or hurricanes
- Theft and burglary
- Fire damage
Additional Coverage Options Recommended for Texas Homeowners
Some parts of Texas see severe weather more frequently than others, which is why you must carefully read your home insurance policy. Wind and hail damage might be excluded, or higher deductibles may be required. If policy exclusions apply, consider purchasing additional coverage, including:- Flood insurance coverage: Flood insurance is often sold separately from other home insurance policies. But it’s important if you live in or near areas that are prone to flooding. Some lenders may require you to purchase flood insurance before they agree to finance your home mortgage. Be aware of what type of flood insurance is required prior to moving.
- Wind and hail coverage: This type of policy covers losses due to excessive wind damage, either from hurricanes or tornadoes. This kind of insurance is particularly important in Texas, which over a 20-year period from 1991 to 2010 saw 155 tornadoes—more than any other state!3 If you can’t purchase insurance through your carrier, you may need to seek help from the Texas Windstorm Insurance Association
- Water backup coverage: This can help pay for damage due backed up drains or sewer lines.
- Seepage and leakage insurance: This policy covers damage due to a slow leak or seepage from cracks in your foundation.
What is the average home insurance cost in Texas?
The average home insurance cost in Texas for SelectQuote’s customers is $164.77/month.+ Texas home insurance rates are based on several factors, including your ZIP code, the age and condition of your home, your credit history and even the number of claims you have filed with other insurance companies.Homeowners Insurance Discounts in Texas
The easiest way to save is to bundle your home and auto coverage, but there are other options, too. Many insurance companies offer discounts for home security systems, electronic delivery of statements and documents or discounts for veterans.Home Insurance Companies We Partner with in Texas
SelectQuote exclusively works with trusted national insurance companies. Our full lineup of home and auto insurance companies allows us to shop for rates and compare prices from a variety of carriers at one time—which helps us pass the savings along to you.Bundle Your Home and Auto Insurance to Save Money
You could save hundreds of dollars by bundling your home and auto insurance policies through one carrier. The average savings for SelectQuote customers when they bundle home and auto policies is nearly $700.Average Home and Auto Insurance Rates in Texas
Rates listed below are sampled from actual SelectQuote customers. Rates will likely vary based on your location, age, credit rating and other factors.| City | Avg. Monthly Home Insurance Rate | Avg. Monthly Auto Insurance Rate | Avg. Monthly Rate of Bundled Policies |
| Arlington | $212.18 | $177.70 | $384.25 |
| Austin | $122.89 | $164.14 | $252.31 |
| Dallas | $236.36 | $212.86 | $443.01 |
| El Paso | $100.11 | $157.92 | $220.78 |
| Fort Worth | $181.34 | $196.32 | $359.10 |
| Houston | $218.36 | $243.04 | $425.78 |
| Lubbock | $152.52 | $224.29 | $325.97 |
| Midland | $173.87 | $240.11 | $329.92 |
| Plano | $225.26 | $235.09 | $320.96 |
| San Antonio | $157.96 | $187.76 | $316.95 |
Average monthly rates are from effective SelectQuote customer policies between 4/1/2022 and 3/31/2023.
Auto Insurance in Texas
Auto insurance is an important purchase for Texas drivers. In 2019, Texas insurers reported $14.8 million in losses related to auto accidents.4 That adds up to several million dollars in paid claims to insured drivers for repairs or replacement of vehicles, medical payments and property damage.In addition to state-required liability coverage, you may purchase other types of coverage that can help pay for damage or theft to your own vehicle.Since Texas requires drivers to have a certain amount of auto insurance coverage, it’s important to understand what the state’s stipulations are so you and your vehicle are protected.
Texas Auto Insurance Laws and Requirements
The law requires all drivers in Texas to show proof they can pay for damages they cause due to an accident.5 This type of insurance coverage is called auto liability insurance. Liability insurance helps to repair or replace the other driver’s vehicle or damaged property. It will also pay medical expenses when an accident is your fault.Liability insurance is only one of several different types of auto insurance coverage:- Liability insurance pays for damages caused by you if the accident is your fault. It will also pay for medical bills incurred by the other driver or their passengers. Texas requires drivers to have $30,000 of coverage for injuries per person, up to $60,000 per accident. It also requires $25,000 of coverage for property damage.This coverage, known as 30/60/25 coverage, is the bare legal minimum for drivers. On average, Texas drivers spend $659 annually on liability coverage.
- Uninsured/underinsured motorist coverage pays for medical expenses when the other driver is at fault and doesn’t have sufficient insurance coverage.
- Personal injury protection insurance can help pay for medical expenses or funeral expenses for you or your passengers.
- Collision coverage helps cover expenses for repairs or replacement for your vehicle if it is damaged in an accident. Average expenditures for collision coverage in Texas in 2018 were $442.
- Comprehensive coverage can help pay for repairs or replacement for vehicles that are stolen or damaged by storms, vandalism or animals. Average expenditures for comprehensive coverage were $269 in 2018.
| Types of Coverage | Minimum State Requires |
| Bodily Injury Liability | $30,000 per person / $60,000 per accident |
| Property Damage Liability | $25,000 |
| Uninsured Motorist | Not required |
| Underinsured Motorist | Not required |
| Personal Injury Protection | Not required |
| Collision | Not required |
| Comprehensive | Not required |
| Gap Insurance | Not required |
Texas Teen Driving Laws
Teenage drivers are also required to carry auto insurance insurance, but there are two main options for coverage. You may add teen drivers to your own auto insurance policy or purchase a separate policy for them. Many people add teen drivers to their existing policy because it’s the cheaper option.Some Texas auto insurance companies require policyholders to add everyone in your household who is of driving age to your policy. Failure to do so could lead to a bill for extra insurance premiums later. The company may also choose to deny claims made or put your policy into nonrenewal if you choose not to add drivers to your policy.Texas Car Registration Information
As part of your Texas vehicle registration, you’ll need to provide proof of your identity, proof of auto insurance, required paperwork and have completed a full vehicle inspection.6What is the average car insurance cost in Texas?
The average Texas car insurance cost for SelectQuote customers is $189.63 per month.+ Texas car insurance rates are based on many different factors. The age, make and model of your vehicle help determine your rates. You may pay more for insurance depending on the ZIP code you live in or the daily use case for your vehicle(s). Your driving history is also an important factor in determining your auto insurance rates.Auto Insurance Companies We Partner with in Texas
SelectQuote partners with only the most trusted, highly rated Texas auto insurance companies. We can help you find the right type of car insurance for your needs and your budget. Have questions about any of the auto insurance laws or carrier specifics in Texas? Call us today and our licensed insurance agents can help.Texas Home and Auto Insurance Frequently Asked Questions
Some common questions related to home and auto insurance in Texas include:How do I shop for insurance in Texas?
Shopping for insurance might sound complicated, but it isn’t! Before you sit down to make a decision, determine the type of coverage you need based on your situation. Once you know the policy limits you want, compare quotes from several companies at once. Even if one company’s coverage looks more expensive, there may be applicable discounts that can help you save.
How do I shop for home insurance in Texas?
Start by comparing quotes from several companies. Be sure to weigh the benefits of comparable policies, such as premiums, deductibles, and financial and customer service ratings. Keep in mind the lowest-priced insurance policies might end up proving costly if there’s not enough coverage.How do I shop for auto insurance in Texas?
Before starting the insurance shopping process, make a list of everything you need to cover. Look at rates from several companies at once. Remember, the cheapest car insurance won’t offer the same level of coverage as a more robust policy.Do I need mobile home insurance in Texas?
Mobile home insurance is a specific type of property insurance that covers mobile homes and manufactured housing. It also covers personal property and additional living expenses. Mobile home insurance differs from standard homeowners coverage because of the inherent risks of owning a mobile or manufactured home. Because these homes aren’t attached to a foundation, they are more susceptible to damage from fire, wind, or broken pipes. Mobile homes are also at a greater risk of vandalism and theft.
Is home and auto insurance required in Texas?
Liability auto insurance is required by Texas law for all drivers. Even though it’s not legally required for you to have home insurance, all mortgage lenders require it as part of the loan process. Homeowners insurance is also the best way to protect your investment.
What is recommended for car insurance coverage in Texas?
In addition to minimum liability coverage, it’s recommended that you buy additional insurance to help protect you financially in the event of an accident. Comprehensive and collision coverage can help pay to repair or replace your vehicle in the event of a collision. Underinsured/uninsured motorist protection can help pay medical bills after an accident.It may make sense to drop your comprehensive coverage for a significantly older vehicle. If you have questions about what insurance coverage makes sense for your vehicle or family, a SelectQuote agent can help.
SelectQuote Can Shop Texas Home and Auto Insurance to Help Save You Time and Money
Trust SelectQuote to save you money and time by shopping for your home and auto insurance. We compare rates from several trusted Texas insurance companies. We can even help you find the right bundled home and auto coverage for maximum savings and protection.Sources
- https://www.bankrate.com
- https://www.iii.org
- https://weather.com
- https://www.iii.org
- https://www.tdi.texas.gov
- https://www.dps.texas.gov
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