Homeowners Insurance Quotes in Amarillo, TX

What You Should Know About Home Insurance in Amarillo

Although Amarillo tends to be windy and dry most of the time, there’s enough snow and cold weather to balance things out for the people who live here. Nevertheless, it is mostly flat, with little to no large trees and the yellow and brown colors of the desert. However, as the gateway to Palo Duro Canyon, expect to find an austere beauty in the striking reds of the canyons.

The cost of living is fairly low and houses are mostly affordable. The schools are good, and, for the residents, there is a spirit of community and friendship that makes a trade-off with green scenery worth it. People who love the outdoors will find plenty to explore with the Canadian River, the nearby Caprock Canyons, Lake McKenzie and more. And, of course, the famed Cadillac Ranch is here, plus those who love American history may want to take advantage of the fact that Route 66 runs through Amarillo.

Besides being known as the Cattle Capital of the World with around 150,000 cattle per resident, there are also a little more than 202,000 residents. More than half of the residents own their homes, so having the right home insurance is important in this western city.

If you own a home in Amarillo, 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 Amarillo?

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 Amarillo?

A homeowner’s insurance policy deductible and premium are inversely related, meaning that changes in one typically affect the other. The deductible is the amount a policyholder agrees to pay out of pocket before the insurance company covers a claim. A higher deductible lowers the insurance premium because the homeowner assumes more financial responsibility. Conversely, a lower deductible results in a higher premium, as the insurer absorbs more of the risk.

An example is if your deductible is $500 and the amount of your claim is $9,000 (to replace a roof damaged by hail). With an approved claim, your insurer will pay $8,500 while you pay $500.

Compare Home Insurance Rates in Amarillo

The cost of living in Amarillo is considered low. The average cost of an owner-occupied home there is $187,000. Although housing costs in this area are 36% lower than the national average, homes around Windsor Elementary, near South Coulter and Andover Driver can approach $500,000. Living in the area of Amarillo Blvd and Gem Lake Road offers homes valued at a more median price level at around $300,000.

Your dwelling coverage is the amount your policy covers and is the estimated cost to rebuild the physical structure.

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 Amarillo?

Homeowners insurance premiums are generally not tax-deductible for personal residences. This means that the cost of your homeowners insurance cannot typically be deducted from your taxable income. The policy is considered a personal expense rather than a business expense.

You may be able to deduct some expenses related to your home, such as home office expenses, if you work from your residence. It’s always best to talk to a qualified tax professional.

Does Amarillo Have the 80% Homeowners Insurance Rule?

The 80% standard in homeowners insurance refers to a requirement that homeowners insure their property for at least 80% of its replacement cost to receive full reimbursement for partial losses. This standard ensures that policyholders maintain adequate coverage to protect against significant financial losses.

Here’s how it works:

1. Replacement Cost Requirement: Insurers expect the home to be insured for at least 80% of its total replacement cost — the cost to rebuild the home using similar materials and labor, not the market value.
2. Partial Losses: If the coverage falls below this 80% threshold, the insurer may apply a coinsurance penalty to claims for partial losses. This means the policyholder would receive only a proportionate amount of the claim, even for smaller damages.
3. Total Loss: If the home is completely destroyed, the payout will not exceed the policy limit, regardless of the 80% standard.

Maintaining coverage equal to or exceeding 80% of your home’s replacement cost helps avoid penalties and ensures adequate financial protection. 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 Amarillo, Texas?

Amarillo is located in the Texas panhandle, which has a semi-arid climate. It can be over 100°F in the summer, with lows dipping below freezing in the winter. Although, for the most part, the climate is mostly temperate, there are times when hazardous weather conditions may cause damage to your home. This can include:

• Severe thunderstorms: Especially in the spring, these storms can bring lightning and hail.
• Tornadoes: Amarillo is located in Tornado Alley and, as such, is prone to tornadoes. The largest one to cause damage and death there was in 1949.
• Wildfires: Due to the dry nature of this area, wildfires in late winter and early spring have been reported.
• High wind: Amarillo is a windy place where gusts over 50 mph are a common occurrence. These winds can cause structural damage, as well as feeding the risk of wildfire.

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

Since more than half of Amarillo’s residents own their own homes, insurers there offer all types of home insurance. For single family structures, the most popular type of coverage is known as HO-2 or HO-3.

These are specifically for single family homes and address much of the damage that can occur, whether that is roof damage or frozen pipes that burst, all courtesy of Mother Nature.

Although renters insurance may not be required, it’s smart to have it just in case. Known as HO-4, this type of policy protects your belongings in case they are stolen or damaged or destroyed in a covered event.

HO-6 and HO-7, respectively, cover condos and mobile or manufactured homes. And, HO-8 is for homes that do not fall under any of the other categories, such as a historical home.

Your InsureOne agent 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 Amarillo?

Your home insurance policy in Amarillo is designed to protect you financially in case Mother Nature throws certain events at you and your home. For example, a fire started by lightning or hail damage on the roof are typically covered. If your pipes freeze and burst inside the walls, causing flooding, that should also be covered.

Keep in mind that successful home insurance claims are partially based on the evidence that you’ve been performing regular and needed maintenance on your home and roof. Staying on top of these items can help you avoid some of these top home insurance claims.