Dallas, Texas, is a bustling metropolis with a thriving housing market. With the right home insurance policy, Dallas homeowners can protect their property and belongings from unexpected events.
Average Home Insurance Cost in Dallas
The national average for home insurance is $1,400 per year, but Dallas homeowners can expect to pay slightly more, with an average home insurance cost of $1,600 annually. Factors like extreme weather, including hail and tornadoes, contribute to this higher cost.
Home Insurance Rates by Home Age
New homes (0-10 years): $1,550 per year
Homes 10-30 years: $1,600 per year
Older homes (30+ years): $1,800 per year
Homeowners Insurance Rates by Credit Tier
Excellent credit: $1,500 per year
Good credit: $1,600 per year
Fair credit: $1,800 per year
Poor credit: $2,100 per year
Cheapest Home Insurance Providers in Dallas
State Farm: $1,600 per year
GEICO: $1,650 per year
Farmers: $1,675 per year
Home Insurance Rates by Deductible
$500 deductible: $1,800 per year
$1,000 deductible: $1,600 per year
$2,500 deductible: $1,400 per year
Key Homeowners Insurance Options for Dallas Residents
Dallas homeowners should consider the following types of coverage:
Dwelling Insurance: Covers the home’s structure.
Personal Property Insurance: Protects personal belongings.
Wind and Hail Insurance: Important in Dallas, where hailstorms can cause significant damage.
Liability Coverage: Protects against lawsuits.
Ordinance or Law Insurance: Covers costs to bring your home up to code during repairs.
Dallas vs. Other Texas Cities
Dallas offers competitive insurance rates compared to Houston, where homeowners pay an average of $1,850 annually. However, it is slightly more expensive than San Antonio, where the average premium is $1,500 per year. Homeowners in Austin and Fort Worth experience similar costs to Dallas.
