Homeowners Insurance Quotes in Midland, TX

What You Should Know About Home Insurance in Midland

Midland began in 1884 as an important depot halfway (hence the name) between Fort Worth and El Paso, Texas. The city maintains economic importance by acting as one of the premier trade centers in the country for the oil industry. Among its many other high-end employers, Diamondback Energy, a Fortune 500 company, is located in Midland, which is very impressive for a city with just over 130,000 residents.

The city has received some impressive accolades of late, such as #1 in employment growth in Texas by Your Basin, #3 best Texas city to work in by Best Colleges, #3 best small city for business, and #4 cheapest place to live in Texas. It is no wonder Midland showed 17% and 19.2% population growth in the past two census counts.

Whether you own a more affordable house or one of the town’s more luxurious homes, an expert agent is waiting to help you find the best homeowners insurance in Texas at the best price in Texas so you can secure your investment in this sprawling city of over 75 square miles.

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

Formulating a quote for your policy is a complex compilation of many pieces of information. One of the important ones is where you live because each location has unique characteristics that affect your insurer’s loss probability. Below, you can see how Midland’s rates for homes of various prices compare to the national average.

Dwelling Insurance Total	Average Annual Cost in Midland	Average Annual Cost Nationwide
$300K	$4,363	$2,582
$600K	$7,362	$4,140
$1 million	$10,996	$7,380

We arrived at these numbers by using the cost of dwelling coverage, a $100,000 liability and a standard $1,000 deductible.

How Do Home Insurance Deductibles Change Insurance Rates in Midland?

Once you understand exactly what a deductible is, it is easier to comprehend how it affects your rate. Insurers want homeowners to bear some of the financial burden whenever there is property damage. Therefore, when you sign up for a homeowners policy, your agent will ask you how much of a deductible you would prefer. What that essentially means is how much you are willing to allow your insurer to deduct from the amount they have to reimburse you should you file a claim.

That number could be $500 or $3,000 — it is entirely up to you. But say you choose a $3,000 deductible and have $5,000 in damages, your insurer will only cut you a check for $2,000. And if you file a claim below $3,000, your provider will be totally off the hook. Because a higher deductible means your insurer will pay less when you suffer a loss, they will also charge you lower rates. The opposite is also true — if you choose a low deductible, your insurer will be on the line for more money if they have to pay a claim, so they make you pay higher premiums.

Is Home Insurance Tax Deductible in Midland?

When tax time comes around, everyone looks for expenses they can use to offset their income. Unfortunately, your homeowners coverage is not typically tax deductible. However, if you use the home entirely or even partially for business purposes, that may change things.

For example, if you work out of a home office, use your basement to store products you sell, or rent part of the house to a tenant, a portion of your policy may be deductible. If you use the entire home for work, you might be able to write off all your premiums. This is generally how it works, but your accountant could give you a better picture based on your specific scenario.

Does Midland Have the 80% Homeowners Insurance Rule?

This rule dictates that when you purchase a policy, you must obtain coverage for 80% of the replacement cost of your home. This means that for a house that costs $300,000 to rebuild, you must have at least $240,000 in replacement cost coverage. It is only an industry standard — not a law — but insurers who write policies in Midland do require their clients to abide by it.

InsureOne agents will always ensure you have adequate coverage to comply with the 80% rule when you obtain a policy, so while you may be able to figure it out on your own, there is no need to worry about getting it wrong or forgetting to get the right amount of replacement coverage.

Bundling Home and Auto Insurance in Midland

Bundling means getting more than one type of policy with your insurer. Rates in Midland are somewhat above average, but you can reduce your bill, sometimes by 25%, depending on your circumstances, if you bundle your home and auto coverage. It is also more convenient to deal with a single insurer when you shop for multiple types of policies, and it makes paying your bills easier since you only have to log in to one site or mail your checks to the same address.

If you need homeowners and car insurance or other types of policies, you would have to price each policy individually to see how much various providers would charge you. Then, you would ask them how much of a discount they offer for bundling.

While this sounds like a lot of work, you can count on your InsureOne expert to do all the price shopping so you do not have to. You will enjoy a true white-glove experience as your agent delivers a customized package of policies with the best coverage for your unique circumstances at the best prices available.

What Weather Affects Home Insurance Costs in Texas?

Located in what is known as “Tornado Alley,” Midland has had its share of tornadoes, some more severe than others. Cities near the Gulf of America are always on alert for hurricanes, and though Midland is nearly 500 miles from the coast, it does get the occasional hurricane. Wildfires are a concern in the state. In fact, Texas has had more than 10,000 wildfires in a single year at times.

Always learn the common perils in your area to determine the likelihood of having to file a claim. Discuss your concerns with your InsureOne agent so they can help you personalize a policy based on your unique preferences.

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

There are many lines of insurance products, such as car, health, home, and life, depending on your needs. There are even several types of homeowners policies for your dwelling based on the level of protection you desire and the kind of unit you own. The following is a brief description of four types of home insurance:

• HO-5 policy: Homeowners who want the most comprehensive level of coverage choose this policy. It covers the most perils and offers the highest forms of reimbursement.
• HO-6 policy: Condo or co-op owners get this policy to protect everything from their walls and inward, as an addition to an association’s policy that would cover structures and grounds.
• HO-7 policy: Specifically for mobile homeowners, this policy is fairly comprehensive. It covers the structure and belongings and provides liability coverage in case someone gets hurt on the property.
• HO-8 policy: Unique houses, such as historic homes, may have considerably higher replacement costs than their value. This policy accounts for the discrepancy and provides the necessary coverage.

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

Amid the millions of square feet of office space, Midland has more than 51,000 dwellings, of which over 64% are single-family detached homes. The balance consists of other styles of homes and a variety of types of apartments. Regardless of the class of housing unit you live in, you need some form of homeowners insurance coverage to protect your possessions. Delve into the eight types of homeowners policies, or ask your InsureOne expert for an in-depth explanation to ensure you get a suitable policy for your needs.

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

Your homeowners insurance will cover all or some types of natural disasters, depending on the type of policy you choose. These are some of the perils that affect Midland and are typically covered:

• Hail: Although it does not get very cold — even in the winter — in Midland, the city gets heavy hail on occasion, which is a covered event.
• Wind: Damage from tornadoes and other such storms is protected by your policy, but check with your agent if ensuing flooding is included or requires separate coverage.
• Fire: Texas had over 5,000 wildfires in 2024, many near residential areas. Fire damage is eligible for reimbursement under standard policies.