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5 Highest-Rated Texas Home Insurance Companies

The five highest-rated home insurance companies in Texas offer basic homeowners coverage for home theft, fire, and vandalism. But, the policies do not include coverage for natural disasters. Texas insurance providers offer homeowners broad coverage based on Texas Department of Insurance standards.

1. Allstate Insurance: Allstate was founded in 1931 as a branch of Sears Roebuck Company. As an insurance provider, Allstate’s rate classification system lets them offer homeowners the lowest policies in the market. A basic homeowner policy insures the structure of a house along with sheds and other detached structures on the property. And, manufactured homes are insured for their structure, but detached structures are excluded. Homeowners receive coverage for unfortunate events such as fire, smoke, lightning, frozen plumbing, and theft. But, certain natural disasters such as floods and earthquakes are excluded from a basic policy. If a homeowner wants coverage for certain natural disasters, Allstate does have a supplemental policy to cover these plus other conditions such as mold, fungus, and wet rot. The variables that affect an applicant’s eligibility and the cost of their policy are age of the home, deductible amount, credit history, and number of past claims.
2. Farmers Insurance: Farmers was founded in 1928 and it’s the third-largest provider of homeowner insurance. Farmers homeowner insurance is based on the specific needs of the homeowner. Its basic policy covers the structure of a house plus detached buildings. Homeowners are insured for fire, lightning, tornadoes, vandalism, and theft. But, damages such as wear and tear, earthquake, flood, and nuclear hazards are not covered. Farmers will also replace personal belongings such as furniture, clothing, and electronics. Homeowners are reimbursed the replacement cost coverage and actual cash value for personal belongings. Homeowners also have personal liability insurance to protect them from lawsuits. The liability insurance also covers damages they may cause to a neighbor’s property. Farmers insurance rates are based on the value of the house, which is determined by local construction costs, square footage of the home, wall construction, style of the house, number of rooms, and garages.
3. Travelers Companies, Inc: Travelers is a leading provider of auto, home, and business insurance worldwide. A basic policy for Texas residents provides protection to a house’s physical structure, sheds, and garage. Plus, the homeowners’ personal belongings both inside and outside the house are covered. Homeowners receive reimbursement for temporary living expenses if their house is uninhabitable after a disaster. And, in addition to the basic coverage, homeowners can add enhancements such as Valuable Items Coverage, which covers the cost of replacing belongings regardless of depreciation. Travelers Insurance offers a wide variety of ways for homeowners to save money on their insurance. Policy holders can save 15 percent by combining either auto insurance, umbrella insurance, or boat and yacht insurances with their homeowner insurance. Homeowners can also save money with cost-cutting credits. Credits are awarded when a homeowner does something to reduce their risk. To earn a credit, homeowners can receive a certificate from LEED which will save them up to 5 percent on their policy. They can receive a mature insured credit if they are a retired homeowner. Plus, there are multi-policy, newer home, nonsmokers, protective device, and renewal long-term customer credits. Homeowners can also receive discounts for having smoke detectors, dead bolts, and alarm systems. One program to reward homeowners for social responsibility is the GreenHome Upgrade. Homeowners receive extra savings for rebuilding a structure with green materials.
4. Liberty Insurance: Liberty has been in business since 1912. They are the third-largest property and casualty insurer in the U.S. and they have earned an A.M. Best Co. “A” rating. A homeowner’s basic 12-month policy gives them liability protection, living expenses, lock replacement, and inflation protection in addition to protection for the structure of their house. Homeowners also receive a loss forgiveness program, a personal property replacement service, emergency repair services, and multi-policy discounts. Homeowners can receive a multi-policy discount of 10 percent if they add an auto insurance policy to their homeowner insurance. And, Liberty policy holders also receive 24-hour claims assistance, contractor referrals, and a catastrophe team to assess damages after a disaster.
5. USAA: In 1922, USAA began as a service by military officers for military officers. They provided each other auto insurance when other agencies turned them down. USAA now provides financial services to military members and their families, but, certain products are available to non-military members. Their homeowners insurance policy protects homeowners against fire, vandalism, and theft. They have access to full replacement coverage that is subject to policy limitations and deductibles. USAA will provide up to 75 percent of a house’s insured value without deducting for depreciation. And, coverage for the identity of the homeowner is also provided. Homeowners are protected against identity theft, credit card fraud, and other forms of financial fraud.