Best cheap homeowners insurance in Fort Worth

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Homeownership in Ft. Worth, Texas recently reached an all-time high at 69%. Although Ft. Worth home insurance isn’t mandatory, there are plenty of perils, such as tornadoes, flooding, wildfires and sinkholes that make your home and property vulnerable to loss or damage.

Average rates for Fort Worth, Texas home insurance are $2,355 per year for a $250,000 dwelling. Finding the best cheap home insurance Fort Worth provider that matches — or comes in with lower costs than the citywide average — will help you financially protect your valuable asset.

Best home insurance companies in Ft. Worth

To find the best home insurance companies in Fort Worth, Bankrate collected premiums from over a dozen carriers. In addition, we analyzed what companies offer the best coverage to meet your unique needs and compared them to what customers have to say about the providers. The five best cheap home insurance providers in Fort Worth according to our research are:

Home Insurance Company Average Annual Premium for $250K Liability J.D. Power Score
Bankers Ins Grp $403 NR
Texas Farm Bureau Mut Grp $481 NR
Lighthouse Prop Ins Corp $648 889 / 1,000
USAA $1,541 839 / 1,000
Nationwide $1,635 808 / 1,000

Bankers Insurance Group

Bankers Insurance provides Ft. Worth homeowners with coverage, including the most common form of homeowners insurance — an HO-3. Although HO-3s provide protection against the most common perils and hazards, you can also add optional coverages such as pet or animal liability up to $300,000, golf cart liability/damage and lock replacement.

Texas Farm Bureau

Texas Farm Bureau is best known in Texas for its award-winning service. You can buy coverage for your home, vehicles and income properties all in one place. The carrier provides affordable home insurance but is best for traditionalists. You’ll need to work with an agent to get started, which may be a drawback for individuals who prefer to handle home and property claims online or through a more robust mobile app.

Lighthouse

Lighthouse Insurance specializes in insurance for Gulf Coast homeowners and tops J.D. Power’s list of providers with the most satisfied customers. Coverage is available through five local Ft. Worth insurance agencies. Besides basic homeowners insurance, Lighthouse provides flood insurance. The coverage will expand your HO-3 by reimbursing flood-related damage from mudflow, erosion, overflows and water runoff.

USAA

USAA is headquartered nearby in San Antonio, Texas. It is only available to veterans, military personnel and qualifying family members. When you buy a home insurance policy with USAA, you’ll get replacement cost coverage instead of actual cash value. It is a good deal — actual cash value does not pay for new items as replacements like replacement cost insurance does.

Nationwide

Nationwide home insurance has the strongest online presence of the top home insurance Fort Worth companies on this list. The mobile app lets you manage your bills, view your policy and file a home insurance claim — all from your smartphone. Nationwide’s water backup coverage may be of interest. It can protect you from costly losses caused by a backed-up drain or sewer.

Other Ft. Worth home insurance options

Texas is subject to extreme weather. High heat in the summer and events including tornadoes, flooding and wildfires make it prudent to buy home insurance, even if the state doesn’t require it. Residents may want to consider a policy that includes:

  • Flood insurance: Floods aren’t covered in an HO-3 policy. Adding flood insurance will protect your home from the costly peril.
  • Water backup: Drain and sewer clogs are expensive to repair. Having coverage in the event of a backup or the failure of a sump pump during torrential rainfalls may save you thousands of dollars.
  • Guaranteed replacement cost: Upgrading from actual cash value to replacement cost may take the hassle out of replacing or rebuilding your property. You could be reimbursed for new versions of the items you’ve lost.
  • 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 can protect you financially against lawsuits or expensive medical bills.

Home insurance discounts in Ft. Worth

Getting quotes to find the best Ft. Worth, Texas home insurance company is just the beginning. You may be able to save further by taking advantage of home insurance discounts, such as:

  • Insurance bundling: Handle all your insurance needs with one carrier and you may be able to save money on both home insurance and car insurance.
  • Military: If you or a close family member are veterans or in the military, your insurance carrier may give you a discount.
  • Payment: Automate your payments or prepay your insurance premium annually or semi-annually and you may earn a small discount.
  • Safety: There are several safety-related discounts that you may be able to take advantage of – such as having smoke and carbon monoxide alarms installed, living in a non-smoking home or installing a home security system.

Frequently asked questions

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 more.

How much does home insurance in Ft. Worth cost?

A basic HO-3 policy for a $250,000 dwelling costs an average of $2,355 per year.

Methodology

Bankrate utilizes Quadrant Information Services to analyze 2021 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.

Written by
Cynthia Paez Bowman
Personal Finance Contributor
Cynthia Paez Bowman is a finance and business journalist who has been featured in Bankrate, Business Jet Traveler, MSN, CheatSheet.com, Freshome.com and TheSimpleDollar.com. She regularly travels to Africa and the Middle East to consult with women’s NGOs about small business development and works with select startups and women-owned businesses to provide growth and visibility.