Lubbock, TX Homeowners Insurance

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How to find cheap home insurance in Lubbock


Among the most important aspects of owning a home is homeowners insurance. Along with personal property, homeowners insurance covers your dwelling against many perils, including wind damage, fire, and vandalism. Given the relatively frequent occurrence of these incidents and the substantial cost of replacing a home, a homeowners insurance policy is a solid investment.

The price of a homeowners insurance policy depends on myriad factors, including the value of the dwelling, the value of your personal items, and the materials used to construct the home. The location of your home can also influence how much you pay for homeowners insurance. Some areas are more susceptible to perils like fire, hail, frozen pipes, volcanoes, or other hazards. These can make your insurance policy even more expensive. Discover more info about what a home insurance policy covers.

If you want to find cheap home insurance coverage in Lubbock, start with shopping around and comparing different policies. Have a look at the summary below comparing average home insurance rates in Lubbock to help you get as much information as possible when you start your search for homeowners insurance. One thing to note is that the yearly cost of homeowners coverage is determined based on your chosen coverage limits as well as a number of other rating factors.


Lubbock, Texas, homeowners insurance — table of contents:
  1. Rates by company
  2. Rates by coverage amount
  3. Rates by neighborhood
  4. Rates by deductible level
  5. Policy bundling discounts

Home insurance in Lubbock by company

Lubbock homeowners insurance rates will vary depending on which insurance company you choose. Texas Farmers offers the most affordable home insurance in Lubbock, at just $253 per year. This compares favorably to the city’s average homeowners premium of $3,386.

Begin your search for a home insurance policy by reviewing the cheapest companies in Lubbock, Texas, listed below.


AFFORDABLE HOMEOWNERS INSURANCE COMPANIES IN LUBBOCK
CompanyAverage Annual Rate
Texas Farmers$253
ASI Lloyds$2,233
Safeco$2,357
United$3,212
Travelers$3,229

Average homeowners insurance prices in Lubbock by coverage limit

The level of home coverage you select has an impact on your insurance rates. Homeowners in Lubbock who carry $200K in dwelling coverage pay an average of $2,434 per year, while those with coverage up to $400K pay around $4,201 per year.


HOMEOWNERS INSURANCE RATES IN LUBBOCK — POPULAR COVERAGE LIMITS
Coverage LevelAverage Annual Rate
$100K Dwelling$1,527
$200K Dwelling$2,434
$250K Dwelling$2,889
$400K Dwelling$4,201

Lubbock homeowners insurance rates by ZIP code

Depending on which part of Lubbock you live in, you may see a big difference in your home insurance costs. Policies are often priced on local variables such as the number of claims filed in the immediate area, meaning the neighborhood in which you live could have a major impact on how much you pay to insure your home.

To find the cheapest home insurance premiums in Lubbock, look no further than 79409. In the 79409 area, homeowners policies typically cost just $3,301 per year — a full $84 less than the Lubbock average. The below table shows the best places to live in Lubbock if you’re looking for affordable homeowners insurance.


AFFORDABLE NEIGHBORHOODS FOR HOMEOWNERS INSURANCE IN LUBBOCK
ZIP CodeAverage Annual Home Insurance Rate
79409$3,301
79402$3,302
79407$3,324

On the other hand, some areas of Lubbock face higher homeowners insurance costs, on average. Crime rates, fire risk, and even your how close you are to emergency services could lead insurance companies to see certain neighborhoods as higher risk, which could drive up area rates. One of the costliest ZIP codes for homeowners insurance in Lubbock is 79430, with an annual average rate of $4,148.


EXPENSIVE AREAS FOR HOMEOWNERS INSURANCE IN LUBBOCK
ZIP CodeAverage Annual Home Insurance Rate
79430$4,148
79406$3,382
79403$3,377

Looking for insights on homeowners insurance in a specific city? Check out our analysis of populous Texas cities:

  1. Arlington
  2. Austin
  3. Corpus Christi
  4. Dallas
  5. El Paso
  6. Fort Worth
  7. Garland
  8. Houston
  9. Irving
  10. Laredo
  11. Plano
  12. San Antonio

Home insurance deductibles in Lubbock

Among the many choices homeowners face when purchasing homeowners insurance is where to set the deductible. A homeowners deductible is the dollar amount that the insured must contribute toward a covered loss. Where you choose to set your homeowners deductible is linked to the overall cost of your coverage.

On the whole, having a low deductible means that your insurance premiums will be higher. Therefore, if you need your home insurance rates to be lower, you’ll want to increase your deductible. Remember that your homeowners deductible should not be so high that you would struggle to pay it in the event of a loss.

Below are some standard deductibles offered by most home insurance companies as well as with corresponding average insurance costs.


HOME INSURANCE COSTS BY DEDUCTIBLE IN LUBBOCK
Deductible LevelAverage Annual Homeowners Insurance Rate
$500$3,073
$1,000$2,889
$1,500$2,797
$2,000$2,587
$5,000$2,264

Money-saving tip for home and auto insurance in Lubbock: bundling

You might want to consider bundling your auto and homeowners policies through the same company if saving money is one of your concerns. Bundling your homeowners and auto insurance is one way to save substantially on your monthly car insurance premiums. In fact, bundling policies in Lubbock leads to average annual savings of 7%.


CHEAPEST AUTO INSURANCE RATES WITH HOME BUNDLE IN LUBBOCK
CompanyAvg. Annual Auto Insurance Rate (With Bundle)
State Farm$1,047
USAA$1,336
Progressive$1,807
Allstate$1,895
GEICO$2,322

It's definitely worth considering bundling both your auto and home policies as a potential way of saving money.


Ross Martin LinkedIn

As a licensed insurance agent, Ross is responsible for researching and writing about all matters related to auto and home insurance. He has a background in writing and education, as well as a master's degree from Royal Holloway, University of London. He has been quoted by CNET, iDriveSafely.com, and Kin Insurance.