How much is homeowners insurance in Plano, TX

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In Plano, homeowners pay an average annual rate of $4,083 for a coverage level that includes $300,000 for dwelling, $100,000 for liability protection, and a $1,000 deductible, according to Insure.com’s rate analysis. This is $1,579 more than the national average of $2,504.

Homeowners insurance premiums can vary significantly from one property to another. In Plano, the cost of home insurance is influenced by several factors, including:

• Size of your home
• Age of your home
• Amount of coverage required
• Location
• Your credit score

It’s crucial to compare quotes from multiple insurers to ensure you get the best homeowners insurance policy. This allows you to find the coverage that meets your specific needs.

Read this guide to discover the monthly homeowners insurance cost in Plano, explore the insurance costs for different dwelling coverage, and find out which companies offer affordable home insurance in Plano.

How much is homeowners insurance in Plano per month

Residents of Plano pay an average of $340 a month for homeowners insurance, as per Insure.com’s rate analysis. It’s $20 more than the state average of $320 and $131 more than the national average for home insurance across the United States.

The cost of your homeowners insurance policy in Plano may change based on location, property value, and selected coverage options.

How much is homeowners insurance for a $200,000 house in Plano

In Plano, TX, homeowners pay an average of $3,144 annually for a $200,000 house. The amount you pay for home insurance each year depends on factors such as – natural disasters or events within your locality.

Some regions are more at risk for natural disasters, like floods, hurricanes, or tornadoes, implying higher rebuilding rates in these areas are higher, resulting in higher insurance premiums. It’s essential to note that your insurance policy might not cover damages caused by floods or hurricanes. If you reside in an area prone to flooding, consider buying flood insurance.

How much is homeowners insurance for a $300,000 house in Plano

According to a rate analysis by Insure.com, homeowners in Plano pay an average of $4,083 per year for a $300,000 house. These rates are for the coverage limits of $100,000 for liability protection and $1000 deductible.

If you increase your dwelling coverage from $200,000 to $300,000, you will just have to pay $939 more a year for home insurance. It would be best to buy enough insurance to cover the full cost of rebuilding your home.

However, the amount of dwelling coverage you need may vary depending on the size of your home, the features in your home, and the cost of living in your area.

How much is homeowners insurance in Plano by company

Among the carriers analyzed, Farmers is the most affordable homeowners insurance company in Plano. It’s average annual rate for homeowners in Plano is $3,897, while State Farm ranks second.

Research on the company is essential before selecting a homeowners insurance policy. Insure.com has thoroughly examined all insurance companies operating in Plano and compiled a list of the most affordable home insurance companies.

Below are details of Plano home insurance companies and their average annual premiums.

Common natural disasters in Texas that may affect home insurance

Natural disasters can happen unexpectedly and cause serious damage to your home and belongings. It’s important to know these risks so you can make sure your home insurance covers you properly if something happens.

Cold wave, Hail, Heat wave, Lightning, Riverine flooding, Strong wind, Tornado and Winter weather are some of the common natural disasters in Texas that could affect your home insurance costs.

How home insurance protects you against natural disasters

Home insurance helps protect your property and belongings from the financial impact of natural disasters. While standard policies generally cover damages from windstorms, hail and lightning, additional coverage is required for disasters like floods, earthquakes and wildfires.

These types of damage are usually not covered by homeowners insurance, so homeowners need to buy separate flood or earthquake insurance to ensure complete protection.

Home insurance can help pay for structural damage repairs, replace lost or damaged items, and provide funds for temporary housing if your home becomes uninhabitable. This coverage provides financial relief, making it easier for homeowners to recover quickly from the effects of natural disasters.

Methodology

Insure.com, with the help of Quadrant Information Services, gathered data for homeowners insurance rates in Plano for $300,000 dwelling coverage and $100,000 liability coverage with a $1000 deductible. The data presented are those with a good credit tier alignment.

Shivani Gite

Contributing Writer

 

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Shivani Gite is a personal finance and insurance writer with a degree in journalism and mass communication. She is passionate about making insurance topics easy to understand for people and helping them make better financial decisions.

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