El Paso, TX Homeowners Insurance
Looking for homeowners insurance? Check out our El Paso-specific info and make an informed decision.
Looking for homeowners insurance? Check out our El Paso-specific info and make an informed decision.
Homeowners insurance is a critical element of homeownership. Along with your personal belongings, homeowners insurance covers your dwelling in the event of many perils, including theft, fire, wind damage, and vandalism. With the relative frequency of such incidents -- along with the high cost of rebuilding or repairing damages to a home -- obtaining homeowners insurance is a wise investment.
What you pay for homeowners insurance depends on myriad factors, including the value of the dwelling, the value of your personal items, and the materials used to construct the home. Your home's location can also impact how much you pay, as some locations are more prone to destructive hazards. If your area is at risk of being affected by hail, strong winds, fire, frozen pipes, or volcanic activity, then your premiums could be substantially higher than average. Discover more information about what a home insurance policy covers.
If you want to find cheaper home insurance coverage in El Paso, start with looking around and comparing different policies. Check out the below summary of average El Paso homeowners insurance premiums to ensure you start your search with as much background info as possible. It's important to remember that the cost of your homeowners insurance is often based on the coverage limits you choose as well as a variety of other factors.
El Paso homeowners insurance rates will vary depending on which insurance company you choose. Texas Farmers offers the most affordable home insurance in El Paso, at just $195 per year. This compares favorably to the city’s average homeowners premium of $1,826.
To get started with your homeowners insurance policy search, take a look at this list of the cheapest companies in El Paso, Texas.
| Company | Average Annual Rate |
| Texas Farmers | $195 |
| United | $837 |
| Safeco | $1,066 |
| ASI Lloyds | $1,104 |
| Travelers | $1,149 |
How much you pay for home insurance coverage is greatly influenced by the level of coverage you choose. In El Paso, carrying $200K dwelling coverage costs an average of $1,345, while carrying additional coverage up to $400K costs $2,221 per year.
| Coverage Level | Average Annual Rate |
| $100K Dwelling | $846 |
| $200K Dwelling | $1,345 |
| $250K Dwelling | $1,548 |
| $400K Dwelling | $2,221 |
Depending on which part of El Paso you live in, you might see a big difference in your home insurance costs. The amount of claims filed in your local area can be a factor in determining the price of your policy. Put simply, your home's location could have a huge impact in what you pay for homeowners insurance.
If you're looking for the most affordable homeowners coverage in El Paso, take at look at the 79906 ZIP code. In the 79906 area, homeowners policies typically cost just $1,752 per year on average — a full $75 less than the El Paso average. If you’re looking for the areas with the most affordable homeowners insurance in El Paso, have a look at the table below.
| ZIP Code | Average Annual Home Insurance Rate |
| 79906 | $1,752 |
| 79910 | $1,762 |
| 79968 | $1,762 |
Some parts of El Paso, however, have home insurance rates that are higher on average. These areas of the city could be more prone to perils such as theft, severe weather, or fires that present more risk for insurance companies. One of the costliest ZIP codes for homeowners insurance in El Paso is 79927, with an annual average rate of $1,889.
| ZIP Code | Average Annual Home Insurance Rate |
| 79927 | $1,889 |
| 79907 | $1,877 |
| 79905 | $1,870 |
Looking for insights on homeowners insurance in a specific city? Check out our analysis of populous Texas cities:
One of the many decisions to be made when looking at home insurance policies is where to set your deductible. A homeowners deductible is the total dollar amount that the insured must contribute toward a covered loss. The deductible chosen can impact your insurance rates directly.
When choosing a deductible, a good rule of thumb is that the lower your deductible, the higher your premiums. This means that those looking for lower rates will want to consider a higher deductible. It's worth calling out that a homeowners deductible should only be as high as you can reasonably pay in the event of a loss.
Below you'll find some popular deductibles offered by most home insurance companies as well as with corresponding average insurance costs.
| Deductible Level | Average Annual Home Insurance Rate |
| $500 | $1,655 |
| $1,000 | $1,548 |
| $1,500 | $1,484 |
| $2,000 | $1,385 |
| $5,000 | $1,159 |
If you’re searching for ways to save on your overall insurance costs, consider purchasing your home and auto policies from the same insurance company. Bundling homeowners and auto insurance can be a good money-saving option. In fact, bundling policies in El Paso leads to average annual savings of 7%.
| Company | Avg. Annual Auto Insurance Rate (With Bundle) |
| State Farm | $1,097 |
| USAA | $1,232 |
| Progressive | $1,672 |
| Allstate | $1,868 |
| GEICO | $2,451 |
It's definitely worth considering bundling both your auto and home policies as a potential way of saving money.
