Compare Homeowners Insurance in San Antonio
Everything is bigger in Texas, and that includes homeowners insurance rates. A 2015 study found that Texans have the second highest home insurance rates in the country. The state suffers from frequent hurricanes and hail, which leads to higher premiums across the board.
San Antonio, Texas, as a result, suffers from high home insurance rates. Though the city escapes Texas’ worst natural disasters, the state’s reputation is enough to raise the price of San Antonio homeowners insurance.
Read on about San Antonio’s rates, the best insurance companies, and what factors affects the price of your policy.
Average San Antonio Home Insurance Rates
How much is home insurance in San Antonio? Using data from nearly 1,300 San Antonio QuoteWizard users, we created this 'average' home:
- 2,065 square foot home built in 1985
- 4 bedrooms and 3 bathrooms
- One story
- Deadbolt locks
- Fire extinguisher
- Composite shingle roof
We got insurance quotes from several companies for this sample San Antonio home. Since this is a sample home, your results may vary. Remember, home insurance rates depend on you, your home, and your coverage needs. Listed below is the average rate for a home insurance policy in San Antonio:
The graph below shows the change in average Texas home insurance rates from 2011 to 2015, the most recent year the data is available. According to the III, Texas homeowners insurance rates increased from $1,578 in 2011 to $1,947 in 2015, a jump of $413 dollars, or 26.17 percent.
QuoteWizard helps consumers compare quotes from both national insurance companies and local agents. QuoteWizard can help you find affordable home insurance rates near San Antonio, Texas.
Last year, many people used QuoteWizard to compare compare home insurance quotes in San Antonio, TX from multiple companies.
Best Home Insurance Companies in San Antonio, TX
Most Popular Insurance Companies
According to QuoteWizard users, these are the most popular homeowners insurance companies in San Antonio, TX:
- State Farm
- Liberty Mutual
- 21st Century
Best Homeowners Insurance Companies
The above list shows San Antonio’s most popular home insurers according to our users. But popular doesn’t always mean best.
Our study on the Best Homeowners Insurance Companies focuses on top of the line companies. In no particular order, these companies stand out among the rest:
- Amica: Best Overall
- MetLife: Best for Bundling
- Allstate: Best for Local Agents
- Hartford: Best for Seniors
- State Farm: Best for Pet Owners
- Travelers: Best for Flexible Policies
- Nationwide: Best Replacement Coverage
- Farmers: Best for Eco-Friendly Homes
- Liberty Mutual: Best for Quick and Easy Quotes
- Auto Owners Insurance: Best Claims Experience
San Antonio Home Insurance Rate Factors
Insurance companies use many methods to price your home insurance premium. Some of these factors are out of your control, but not all. These are the most common factors that decide the price of your policy.
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- Your home's age: Older homes usually cost more to insure. That’s because an old house has a higher chance of requiring a claim. On top of that, old houses usually cost more to repair – especially when homeowners have ignored routine maintenance. The average home in San Antonio was built in 1985, which isn’t too old. But it can still impact your home insurance rates if your home isn’t well maintained.
- Previous claims: The past can come back to haunt you in more ways than one. To put it plainly, filing claims hurts your rates. Claims that you made on your previous home will follow you to your new home. Even claims filed by your home’s previous owner can raise your rates. Why? Insurers examine you and your home’s claim history. If there are multiple claims – from you or for your home – it means you’re more likely to file a claim in the future.
- Attractive nuisances: Escaping the summer heat in a backyard pool sounds like a good idea. But did you pools are an insurance liability? Pools, hot tubs, and trampolines are considered an attractive nuisance.
This is a legal term for an object that attracts trespassers, particularly children. In most cases, trespassers can't file liability claims if they hurt themselves on your property. But exceptions are made when attractive nuisances are involved.
Because of this rule, you are liable for injuries resulting from one of these nuisances. And since your home insurance pays for liability claims, you will face higher rates for owning such attractions.
- Coverage amounts: Higher coverage levels lead to higher premiums. It’s a simple equation. Basic policies that cover the homes structure and belonging inside are enough for many people. But in the event of an emergency, a standard policy can leave residents with large out-of-pocket costs. On top of that, a standard policy doesn’t offer enough coverage for everyone. That’s especially true for people with unique homes, large assets, collectables, or more. Depending on your needs, your coverage levels will vary. And depending on your coverage levels, your premium will vary.
- Natural disasters: Insurers charge higher rates for home insurance policies in disaster-prone areas. Texas, unfortunately, is one of the most disaster-prone states in the country. Though San Antonio escapes the brunt of the blow, their home insurance rates reflect those of the rest of the state.
- Home security and crime: Local property crime plays a huge role in the price of your home insurance. San Antonio has a crime index of four, meaning it safer than four percent of the U.S. cities. This, unfortunately, isn’t safe at all. In 2017, San Antonio reported 82,784 crimes. 74,177 of those were property crime. Their property crime rate – 50.47 per 1,000 citizens, is nearly double Texas’ rate. There’s a 1 in 20 chance of becoming a victim of property crime in San Antonio, and your home insurance rates will reflect that.
- Credit history: It’s an unfortunate fact that people with bad credit pay more for homeowners insurance. In some cases, people with bad credit pay 90 percent more for a policy than people with good credit. Of 100 metropolitan cities, San Antonio ranked 70th for average credit score rankings. The average credit score is 650, which is not good.
Types of Homeowners Insurance
Many states have their own state specific insurance policies, and Texas is no stranger to doing things their own way. Listed below are the most common coverage types in the Texas-area:
- HO3 – This is the most common policy in the nation, which includes coverage on an open peril basis. This means you are covered for all unforeseen damages, unless otherwise stated.
- HOA - This is a basic insurance policy specific to Texas. These policies offer actual cash value. This means as your home and belongings get older and lose value, the cash value lowers as well.
- HOA+ - This is a policy that expands off the HOA policy.
- HOB -This policy provides the same coverage as an HO3, but with more water damage coverage.
7 Ways to Save Money on Homeowners Insurance in San Antonio
There a few steps you can take to try and lower your home insurance premiums:
- Don’t smoke: Smokers pay more for most insurances, and home insurance is no exception. Smokers have a significantly higher chance of starting a house fire. Of 1210 San Antonio residents surveyed by the CDC, over 18 percent reported smoking. The survey’s median response was 21 percent, meaning San Antonio has lower smoking rates than most of the country.
- Add safety: Smart tech and home security can help stop incidents before they happen. Some examples are home alarms and remote door locks as well as smoke and carbon monoxide detectors. These are some of the things you can do to prevent property crime. If you do, you can qualify for insurance discounts.
- Shop around: It’s easy to buy the first insurance you find and stick with it. After all, buying insurance isn’t high on anybody’s list of a good way to spend a weekend. However, not comparing companies is an expensive mistake. If you don’t know what other insurance companies offer, you could be leaving money on the table. Every insurance company has their own pricing strategies and discounts. Plus, insurers commonly raise rates on longtime customers because they know that people don’t want to shop around. So, take a couple more minutes of your day and compare homeowners insurance rates in San Antonio now!
- Skip the Pool: As previously stated, pools are a dangerous insurance liability. Home insurance companies raise your monthly premium if you have pool on your property. Consider the costs to maintain a pool, as well as the insurance hike before installing the pool.
- Avoid claims: This advice may seem silly, because what is insurance for if not to use it. We’re not saying you should never file a claim. But you should weigh the seriousness of the incident. Don’t file a claim for minor damages. If you’re able to pay for repairs out of pocket, do it. There’s a good chance it will save you money in the end. Remember: filing a claim leads to a rate raise. If you file several claims, your insurance company may refuse to renew your policy. That's why, in some cases, it’s best to avoid filing a homeowners insurance claim.
- Raise your deductible: An easy way to shrink your premium is by increasing your deductible. Your deductible is the out-of-pocket amount you must pay before insurance covers damage. If you think you can afford at least $1,000 in out-of-pocket costs, consider raising your deductible. However, while saving money each month is great, it’s possible that you end up paying more if you need to file a claim. There's a lot to consider when choosing your home insurance deductible.
- Bundle: A tried and true way to save money on your policy is buying more than one insurance policy from the same company. Bundling your home and auto insurance could save you anywhere from 10 to 25 percent monthly.
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