Homeowners Insurance Quotes in Abilene, TX

What You Should Know About Home Insurance in Abilene

If it isn’t enough that Abilene has been immortalized in a country song sung by many famous artists, maybe adding the fact that Dwight D. Eisenhower, the 34th president of the United States was born and raised here is enough to put this city on the map.

Abilene is not just another dusty Texas town – there’s an amazingly rich children’s literature movement here, leading to the nickname “Storybook Capital of America.” Children of all ages will delight in a stroll downtown through sculptures of memorable characters from their favorite childhood books.

Abilene started life as an agricultural center, much like many of its neighbors in the Texas panhandle, but evolved over the years into a city filled with cultural attractions, good food, education and healthcare. Today, this city is home to three private universities, an Air Force base and much more.

Whether single or as part of a family unit, Abilene offers a small-town feel with the amenities of a big city. Most people own their homes. If you own a home in Abilene, consider InsureOne home insurance in Texas. We offer white-glove service, the best insurance and the ability to customize your policy.

How Much Does a Homeowners Insurance Policy Typically Cost in Abilene?

Your premium is based on the amount it would cost to replace your home in the event of a total loss. Take a look at the table below for average costs across various property types.

Type of Home in Texas	Average Annual Cost in Texas	Average Annual Cost Nationwide
Homes $300K	$2,919	$2,300
Co-ops and Condos	$730	$531
High-end Homes	$4,487	$2,831

 

How Do Home Insurance Deductibles Change Insurance Rates in Abilene?

The higher you can set your deductible, the larger decrease you will see in your premium. Likewise, a low deductible will have a higher premium.

When you file an approved claim, your insurance company will cover the costs of the repairs up to your policy limits, minus your deductible. Depending on the company, they may ask for your deductible upfront or they may just subtract it from the total amount they pay out.

For example, if you need a roof repair for $5,000 and your deductible is $1,000, your insurer will pay out $4,000. Setting your deductible higher so your insurer pays less is one way to save money on your premium.

Compare Home Insurance Rates in Abilene

The cost of living in Abilene is considered low. This is reflected in the average cost of a home there, going for $192,000. However, if you choose to live in the Far Southside, the average cost of a home in that pricier area is $365,000 – still not bad when you consider the average cost of a home in the U.S. is $412,000.

How much the physical structure of your home will cost to rebuild is what your policy amount is built upon. This is the dwelling coverage. Market value, which tends to be higher, is how much your home might sell for on the open market and is not the basis for your homeowners insurance premium.

Here are some various average costs of insurance rates in Texas based on replacement value.

Dwelling Coverage	Average Annual Home Insurance Rates
$100,000	$1,318
$200,000	$2,086
$300,000	$2,919
$400,000	$3,749
$500,000	$4,642

Is Home Insurance Tax Deductible in Abilene?

Although it is a myth that persists, home insurance on its own is not tax deductible on your individual federal taxes. Texas has no individual income state tax, so it is not deductible here either.

If you choose to work from your home, you may be able to claim some work from home office expenses. Likewise, if you rent a room out in your home, there may be some tax break. Overall, however, you cannot deduct your home insurance costs from your income tax.

Does Abilene Have the 80% Homeowners Insurance Rule?

Some people consider the 80% standard a rule, but it is more of an industry standard among insurance companies than an actual rule of law. However, most insurance companies, including yours, subscribe to this practice.

This standard is part of your contract. It says your dwelling coverage must be equal to or greater than 80% of your total replacement cost. That sounds like a bunch of insurance jargon, plus some math so let’s break it down.

In simpler terms, if your home will cost $400,000 to rebuild, you must have at least 80% of that, or $320,000, in dwelling coverage. If you insure for less than that, your insurer may reduce your payout, leaving you to pay out-of-pocket for some of your repairs.

Ask your friendly neighborhood agent to explain the 80% standard to you when shopping for the best home insurance policy.

What Weather Affects Home Insurance Costs in Abilene, Texas?

You may not get a blizzard exactly or the dry conditions of a desert, but Abilene still offers a nice variety of weather patterns throughout the year. Summers can get up to 95°F and winters down to 22°. Summers are hot and humid and the cold wind blows in winter. The main conditions that may affect your home insurance cost include:

• Tropical Storm Winds: Particularly impactful to roof shingles, high winds cause plenty of home insurance claims. Maintain your roof to mitigate damage.
• Heat and Drought: All of Texas experiences some drought conditions, which can lead to wildfires periodically. Mitigate damage by making sure your home’s perimeter is clear of brush.
• Tornadoes: Abilene is located in a section of the states known as Tornado Alley. Two tornadoes touched down in Abilene in 2019 and caused damage.

What Are the Different Types of Homeowners Coverage Offered in Abilene?

Most insurers offer all types of homeowners insurance policies in Abilene. Although policies can be customized to each policyholder, there are 8 basic types to build upon, depending on your choice of home structure. Those who purchase a typical 3 bedroom, 2 bath ranch-style home will need a different type of policy from someone who buys the historic home on Cherry, Elm or Poplar streets in Abilene.

Likewise, manufactured and mobile homes require a different policy base than one for a condo. Your InsureOne agent understands your needs and can find a policy with the best coverage, whichever type of house you choose to call home.

Which Common Natural Disasters Are Covered by Home Insurance in Abilene?

As with most homes in the middle swath of the country, Abilene residents are typically protected financially from fire and lightning damage, sudden water damage (not floods), and wind and hail.

Although Abilene does not suffer from massive flooding on a routine basis, there are areas that lie in recognized floodplains. If your home is in one of these areas, you may be required to purchase flood insurance.