Best cheap homeowners insurance in Fort Worth

In Fort Worth, Texas, homeownership rates recently reached an all-time high at 69%. Although home insurance isn’t mandatory in Fort Worth (except as required by your mortgage company), there are plenty of perils, such as tornadoes, flooding, wildfires and sinkholes that make your home and property vulnerable to loss or damage, which can have devastating financial impacts. To identify the best cheap homeowners insurance companies in Fort Worth, Bankrate’s team of experts considered policy pricing, customer service reviews and other factors. We found Farmers, USAA, and Chubb are the best cheap home insurers in the area based on these factors.

The average rate for Fort Worth, Texas, home insurance is $2,291 per year for $250,000 of dwelling coverage. Finding the best cheap home insurance provider in Fort Worth with competitive rates — compared to the average cost of home insurance — can help you financially protect your most valuable asset.

Best cheap home insurance companies in Fort Worth

To find the best homeowners insurance companies in Fort Worth, we compared average annual premium data from Quadrant Information Services for over a dozen carriers. We also calculated a Bankrate Score for each carrier out of five possible points, reflecting 2022 homeowners insurance rates, coverage options, available discounts, digital presence and customer satisfaction and financial strength ratings.

The five best cheap home insurance companies in Fort Worth are compared in the chart below. We found Farmers, USAA and Chubb to rank as the top three best cheap home insurance companies in Fort Worth.

*USAA is not officially ranked due to eligibility requirements

Farmers

Farmers offers the lowest average annual premium on our chart by a significant margin, although the carrier has the lowest Bankrate Score – partly due to having a below-average J.D. Power score for overall home insurance customer satisfaction. Nevertheless, Farmers may be worth a look, as it has an above-average J.D. Power property claims customer satisfaction score and offers a specialized quoting process that could be an advantage to you. With the quoting process, you are able to choose between three tiers of coverage — standard, enhanced and premier — and from there, personalize your coverage with add-ons designed to meet specific needs.

Learn more: Farmers Insurance review

USAA

USAA is headquartered nearby in San Antonio, Texas. It is only available to current and former military personnel and qualifying family members. USAA home insurance policies include replacement cost coverage instead of actual cash value, which ensures that you can replace items damaged in covered perils with new versions without the payout subtracting any depreciated value of the original item.

Learn more: USAA Insurance review

Chubb

Chubb primarily tailors homeowners coverage to the luxury market. While this may translate to higher rates for a standard policy, Chubb’s standard offerings are typically more robust than the competition. Additionally, Chubb offers a wide range of discounts that may help offset premiums for those looking for affordable homeowners coverage. These premium savings include a bundling discount for combining home and auto coverage with Chubb and several discounts for installing safety and security features in your home.

Learn more: Chubb Insurance review

State Farm

Second to USAA, State Farm has one of the top Bankrate Scores on our list. State Farm is a well-known and highly regarded home insurance provider. Although it has a higher average annual premium, State Farm’s broad portfolio of coverage options and discounts makes the carrier well worthy of consideration for many Fort Worth homeowners. State Farm offers an online quoting system for ease of reviewing options, although there are some restrictions, such as limiting your ability to obtain quotes for manufactured and mobile homes.

Learn more: State Insurance Farm review

Nationwide

Nationwide home insurance has the strongest online presence of the top home insurance Fort Worth companies on this list. The Nationwide mobile app allows policyholders to manage bills, view their policy and file a home insurance claim from the convenience of a smartphone. Nationwide’s water backup coverage may be of interest to some homeowners as well. It can protect you from costly losses caused by a backed-up drain or sewer. Nationwide does not insure mobile or manufactured homes.

Learn more: Nationwide Insurance review

Home insurance coverage options in Fort Worth

Texas homeowners are no strangers to extreme weather. High heat in the summer, hail storms, high winds, hurricanes, flooding and wildfires are common enough to make it prudent to buy home insurance, whether your mortgage company requires it or you own your house outright. Residents may want to consider a policy that includes specialty coverage for the unique hazards facing Fort Worth homeowners:

• Flood insurance: Floods aren’t covered in a standard HO-3 policy. Adding flood insurance — underwritten by the National Flood Insurance Program (NFIP) or offered through your home insurance provider — can help protect you from paying out of pocket for the costly peril in Fort Worth.
• Water backup: Drain and sewer clogs are expensive to repair and can cause major water damage if a backup occurs. Having coverage in the event of a backup or a sump pump failure may save you thousands of dollars out-of-pocket if water damage occurs.
• Guaranteed replacement cost: Choosing a policy with guaranteed replacement cost value instead of actual cash value could ensure you are reimbursed for new versions of the items you’ve lost, without depreciation being factored into the payout.
• Expanded animal liability coverage: If your dog or other pet hurts someone on your property, you’re legally responsible for the injury. Raising the limits of animal liability coverage could protect against the financial strain of lawsuits or expensive medical bills.

Home insurance discounts in Fort Worth

Comparing insurance quotes to find the best Fort Worth, Texas, home insurance company is just the first step in saving on your insurance costs. You may be able to save further by taking advantage of home insurance discounts, such as:

• Policy bundling: Handle all your insurance needs with one carrier and you may be able to save money on both your home insurance and car insurance policies.
• Military: If you or a close family member are current or former military service members, your insurance carrier may give you an additional discount.
• Payment: Many insurance companies allow you to automate your payments or prepay your insurance premium annually or semi-annually to earn a small discount.
• Safety: Several safety-related discounts may be easy for you to qualify for such as discounts for having smoke and carbon monoxide alarms installed, living in a non-smoking home or installing a home security system.

Although each carrier offers different types of discounts with various impacts on premiums, in most cases, bundling discounts and discounts for safety enhancements offer the most insurance savings.

Frequently asked questions

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    What is the best home insurance company?

    The best homeowners insurance company varies depending on your needs. It’s best to shop around and compare providers by looking at things like their customer service ratings, coverage options, available discounts and other attributes that are a priority to you.
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    How much does home insurance in Fort Worth cost?

    A basic HO-3 policy for a $250,000 dwelling costs an average of $2,291 per year in Fort Worth, Texas. This is considerably higher than the 2022 national average homeowner insurance premium of $1,383 per year.
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    What is the most basic homeowners insurance policy?

    The most common homeowners insurance policy form in Fort Worth is referred to as an HO-3 policy. An HO-3 policy only offers coverage for your home and personal property impacted by named perils.

Methodology

Bankrate utilizes Quadrant Information Services to analyze 2022 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on 40-year-old male and female homeowners with a clean claim history, good credit and the following coverage limits:

• Coverage A, Dwelling: $250,000
• Coverage B, Other Structures: $25,000
• Coverage C, Personal Property: $125,000
• Coverage D, Loss of Use: $50,000
• Coverage E, Liability: $300,000
• Coverage F, Medical Payments: $1,000

The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required).

These are sample rates and should be used for comparative purposes only. Your quotes will differ.

Bankrate Score

Bankrate Scores primarily reflect a weighted rank of industry-standard ratings for financial strength and customer experience in addition to analysis of quoted annual premiums from Quadrant Information Services, spanning all 50 states and Washington, D.C. We know it is important for homeowners to be confident their financial protection covers the likeliest risks, is priced competitively and is provided by a financially-sound company with a history of positive customer support.

To determine how well the best home insurance companies satisfy these priorities, third-party agency ratings from J.D. Power, AM Best, S&P, NAIC, and Moody’s had the most impact on the companies’ Bankrate Scores. As price is a common consideration for homeowners, we analyzed quoted premiums based on 40-year-old male and female homeowners with a home policy with $250,000 in dwelling coverage. This profile, assessed across more than 35,000 ZIP codes in the U.S., provided a basis on which homeowners may compare each provider.

While coverage options, insurer availability, affordability and customer experience are often the top priorities, Bankrate also analyzed each insurer’s online and mobile resources for policy management and claims handling. Insurance is rapidly evolving to keep pace with our digital world, so these aspects also carried weight in determining Bankrate Scores.