Homeowners Insurance Quotes in Houston, TX

What You Should Know About Home Insurance in Houston

Besides the affordability of living in Houston, residents here also have an incredibly diverse food scene, a booming job market and pretty nice weather all year round. Granted, it is humid, but that only lends itself to the beautiful, lush greenery that surrounds most parts of H-Town.

There are many great institutions of higher learning in Houston, as well as annual events like the Houston Rodeo and cultural festivals reflecting the diverse makeup of the city and its surrounding areas. NASA has its astronaut training site here and there are several world-renowned museums and shopping complexes. The arts and music scene are active and varied.

Over 2.3 million people call this Texas city home. With a median income of $34,000 for individuals and $60 for households, it is an affordable place for most everybody. Because of the high level of precipitation here (50-inches per year), flooding can be an issue for homeowners.

If you are looking for customizable insurance from top-rated carriers, consider InsureOne home insurance in Texas. InsureOne agents are bilingual, professional and excel at offering the best in customer service.

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

Average home prices in Houston range in the low to mid $300,000 range. The average policy cost for a home in that range is close to $6,000 annually in Houston, which is higher than the national average of $2,300. Recent floods and hurricanes have largely contributed to these high costs.

Home insurance costs are based on how much it will cost to rebuild your home from the ground up. Take a look at the table below for average costs across various dwelling costs.

Dwelling Coverage in Texas	Average Annual Cost in Houston	Average Annual Cost Nationwide
Homes $300K	$6,044	$2,300
Homes $600K	$11,705	$531
Homes $1 million	$19.094	$2,831

How Do Home Insurance Deductibles Change Insurance Rates in Houston?

On any insurance policy with a deductible, you will decide how much you can afford to pay on your own before your insurer kicks in the rest up to your policy limits. The higher your deductible, the higher you will pay and the less your carrier will need to pay.

In return for assuming more of the cost, your premium will go down. It’s best to try out different deductible amounts and see how much it affects your bill. Going up from $1,000 to $2,000 for a deductible may not be worth the decrease in your premium payment. Keep in mind your deductible is going to come out of your pocket.

Is Home Insurance Tax Deductible in Houston?

No, home insurance is typically not tax deductible under any circumstances. You may be able to deduct some expenses relating to your home, but your actual homeowners policy is not one of them. It’s always best to check with a tax professional if you have home-related deductions.

Does Houston Have the 80% Homeowners Insurance Rule?

It depends on your insurance company, but the majority follow the 80% rule. The 80% rule is in your contract and spells out how much coverage you need to have in order to realize full payment on an approved claim.

In simple terms, your policy must be worth 80% of your dwelling coverage (replacement value) in order to receive full payment on a claim. If your home’s replacement cost is $380,000, your policy must be worth $304,000 at a minimum.

Keep in mind if you make extensive renovations, your replacement cost may increase, so you’ll need to adjust your dwelling coverage to stay in compliance with your contract.

Bundling Home and Auto Insurance in Houston

If you want to make your insurance company happy and get a nice discount, you should consider bundling. Not only is it easier for you to keep track of your policies when they are nicely bundled together under one insurer, you could see up to 25-30% off your premium.

This multi-policy discount is a way to say thank you for being a loyal customer, as well as trusting your insurer with more than just your home insurance. For example, adding your car insurance to your already-existing home or renters insurance policy may lead to a lower premium.

Talk to your friendly InsureOne agent to find out if bundling is right for you.

What Factors do Insurance Companies Consider When Setting Rates in Houston?

There are many factors that underwriters use when preparing a home insurance quote. Just as your age and driving history play a large part in your auto coverage rates, quotes for home insurance tend to be based on factors that will play a part in the likelihood of you filing a claim. Let’s take a look at some of these factors:

• Location: Especially important in Houston, any insurer will want to know how close you are to perceived dangers such as flooding and roof and structure damage from hurricane-strength winds and more.
• Age: Older homes may not be equipped with modern features that can withstand disasters.
• Square footage: The larger the home, the more materials and labor it will need to rebuild in the event of a total loss. Premiums are based partly on this size.

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

Home insurance comes in 8 main types, each one structured to fit the needs of the insured property. All home insurance policies can be customized to fit your specific needs. By far, the most popular option is HO-3, which provides coverage against most things. However, you made need to add riders to protect certain items, like expensive jewelry or art. Additionally, with Houston’s tendency to flood, you may need to add a flood insurance policy.

Here are 3 other types of policies:

• HO-4 (Renters Insurance): Renters insurance allows those leasing their home to protect their personal property, which is not covered by the landlord.
• HO-6 (Condo Insurance): An HO-6 home insurance policy is designed for condo owners, covering personal property, liability, and interior unit improvements against covered perils.
• HO-7 (Mobile and Manufactured Home Insurance): This option provides open-perils coverage for the structure and named-perils for belongings.

Your InsureOne agent lives in your neighborhood and understands the risks you face. Talk to them to see what coverage works best for you.

What Is the Most Common Type of Home Purchased in Houston?

Although single-family homes are the most prevalent in Houston neighborhoods, condos and townhomes are the fastest-growing types in Houston. Many people also choose mobile or manufactured homes in this area.

In the Houston Heights neighborhood, you will see examples of the Queen Anne style, as well as craftsman. Mid-century modern and Acadian styles are also popular in some neighborhoods. The reliable brick 3 bedroom, 2 bath ranch is also a favorite in this coastal area. Plus, there are plenty of wood-framed homes, as well.

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

Houston is vulnerable to several natural disasters, including hurricanes, flooding, tornadoes, and extreme heat. Hurricanes, such as Harvey in 2017, bring destructive winds and severe flooding. Heavy rainfall also leads to flash floods, exacerbated by Houston’s low-lying geography. Tornadoes, though less frequent, pose a risk during severe storms.

Additionally, extreme summer temperatures create heatwaves that can be hazardous to residents. Prepared measures are essential to mitigate the impact of these recurring natural disasters.

Almost all home insurance policies exclude floods and given the risk in Houston, homeowners should consider purchasing a National Flood Insurance Program (NFIP) policy or private flood insurance.