Texas homeowners · Shop the same contract
There is no honest “cheapest homeowners insurance in Texas” list on this page. A lower premium is cheaper only if the dwelling limit, the deductibles, and the endorsements match. This page will not rank companies and will not quote a statewide average.
Coverage A is rebuild cost, not the sale price. Land is not insured. A lender minimum protects the loan. It can leave the house underinsured. Many HO-3 forms pay replacement cost on the dwelling only if you carry about 80 percent of rebuild cost. Example, not a quote: a $400,000 rebuild, 80 percent is $320,000, you carry $240,000, an $80,000 repair pays $60,000 before the deductible. Forms differ. A percentage hail deductible is a percent of Coverage A. Two percent of $450,000 is $9,000. That is math, not a typical rate. Raising the deductible lowers the premium only if you can write the check. A new roof can change whether the company will write replacement cost or actual cash value. It is not a guaranteed percent off.
The contract to compare: Texas homeowners. What the FAIR plan is, not a ranking: Texas FAIR Plan. The peril the cheap policy still excludes: flood.
