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Best cheap homeowners insurance in Fort Worth

Updated May 14, 2024
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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. The average premium for Fort Worth, Texas, home insurance is $2,090 per year for $250,000 of dwelling coverage. To help you find the best cheap homeowners insurance companies in Fort Worth, Bankrate’s insurance editorial team considered policy pricing, customer service reviews and other factors and determined that Farmers, USAA and Chubb are some of the best cheap home insurers in the area.

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Advertising disclosure
This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.

Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

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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. In addition, we considered scores in the 2022 J.D. Power home insurance study, which rates overall customer satisfaction across homeowners insurance providers.

The five best cheap home insurance companies in Fort Worth are compared in the chart below. We selected Farmers, Travelers and Chubb as our top three picks for the best cheap home insurance companies in Fort Worth. USAA and State Farm are also worth checking out.

Home insurance company Bankrate Score Average annual premium for $250K dwelling coverage J.D. Power score
Farmers 2.9 $1,202 792/1,000
Chubb 3.5 $1,459 809/1,000
Travelers 3.3 $1,537 794/1,000
USAA* 3.7 $1,725 884/1,000
State Farm 3.2 $1,806 829/1,000

*Not officially ranked due to eligibility requirements.

Farmers

Farmers offers the lowest average annual premium on our list 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 fares close to average with its J.D. Power property claims 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

Chubb

Chubb primarily tailors homeowners coverage to the luxury market and high-value homes. 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

Travelers

Travelers home insurance is one of the cheapest home insurance providers in Fort Worth. It has several discounts available, including discounts for new homeowners, security discounts and a unique green home discount. It has a superior A++ AM Best financial strength rating and has fewer complaints than average in the NAIC Complaint Index. However, Travelers home insurance is not available nationwide, and the company has a below-average J.D. Power customer satisfaction score.

Learn more: Travelers Insurance review

USAA

USAA is headquartered nearby in San Antonio, Texas, but is only available to current and former military personnel and qualifying family members. Although the company consistently receives among the highest customer satisfaction scores with J.D. Power, because it is not available to everyone, it cannot be officially ranked. 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

State Farm

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. Additionally, State Farm is well-known for its breadth of exclusive local agents, so if having someone to talk to who understands your area is important, State Farm might be a great option.

Learn more: State Insurance Farm 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 some of these endorsements or additional policies to bolster their financial protection:

  • Flood insurance: Floods aren’t covered in a standard HO-3 policy. Purchasing a separate flood insurance policy — 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.
  • Sewer backup: Drain and sewer clogs are expensive to repair and can cause major water damage if a backup occurs. They’re also typically not covered by a standard home insurance policy. 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: This type of coverage isn’t cheap, but it means that no matter how much it costs to rebuild your home if it’s destroyed, your home insurance will cover it. Say you have $250,000 in dwelling coverage, but your home is destroyed by a covered peril and it will cost $300,000 to rebuild it. With guaranteed replacement cost, your insurance will cover that additional $50,000.

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: Bundle 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

Methodology

Bankrate utilizes Quadrant Information Services to analyze 2023 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 Scores

Our Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories. 
5
Rating: 5 stars out of 5
Overall Score
  • Cost & ratings 50%
  • Coverage & savings 30%
  • Support 20%
Like our previous Bankrate Scores, each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. This year, our 2023 scoring model provides a more comprehensive view, indicating when companies excel across several key areas and better highlighting where they fall short.
Written by
Rick Hoel
Insurance Contributor

Rick Hoel is an international business attorney and legal and insurance writer for Bankrate as well as Reviews.com and Accessibility.com. Over the last several years, he has covered topics dealing with personal and commercial insurance and technology and the law. Rick is General Counsel and Director of Risk Management and sits on the Board of Power Stow Americas Inc., a subsidiary of Power Stow A/S in Denmark, the world leader in the supply of tracked conveyor systems to the airline industry.

Edited by Senior Editor, Insurance
Reviewed by Senior wealth advisor at Versant Capital Management