The average annual home insurance rate in San Antonio, Texas, is $3,162 for a policy with a $1,000 deductible and $300,000 in dwelling coverage, which exceeds the national average of $2,377.
San Antonio has high home insurance premiums partially because of its hot, dry climate, which increases the risk of wildfires. Insurance companies consider this risk factor when determining premiums. But this doesn’t mean you can’t secure cheap home insurance coverage in San Antonio.
You should always compare home insurance quotes before buying a homeowners policy. Here’s what you need to know about home insurance in San Antonio.
Best home insurance companies in San Antonio
You have many quality home insurance companies to choose from in the San Antonio area. The best home insurance company won’t be the same for everyone since each insurance company weighs rating factors differently.
The best home insurance company for you will depend on your specific home insurance needs and past claims history. Start your search with four of the best San Antonio home insurers below.
Cheapest rates: Farmers
Best insurer for military members and families: Armed Forces Insurance Exchange
Armed Forces Insurance Exchange is an excellent option for San Antonio’s military community. The city is home to around 159,000 veterans and more than 80,000 active military members.3 Armed Forces Insurance Exchange offers affordable rates and extensive, reliable home insurance coverage, making it a great choice for military members, veterans, and their families.
Best insurer for customer service: State Farm
Best insurer for discounts: Travelers
Cheapest home insurance in San Antonio
Farmers offers the cheapest home insurance in San Antonio, with an average rate of $105 per month and $1,265 per year.
Check out some of the cheapest home insurance companies in San Antonio in the table below. The average premiums reflect prices for a $300,000 dwelling policy with a $1,000 deductible.
Cost of homeowners insurance in San Antonio
The average cost of homeowners insurance in San Antonio is $3,208 per year for a $500 deductible policy with dwelling coverage of $300,000. It costs $3,162 on average for a policy with a $1,000 deductible.
Your exact rate will depend on your location in the city, how much coverage you need, and the insurance company you choose. The higher coverage limits you select, the more expensive your premiums will be.
Other factors that can affect your rate include the size of your house, its age, local building costs, your deductible, and even your credit history.
Cost of homeowners insurance by dwelling coverage amount
The factor that most significantly affects how much you’ll pay for home insurance is your dwelling coverage amount. It’s the most important part of your home insurance policy, paying for personal property damage in the event of a covered loss, such as a windstorm. The higher your dwelling coverage limit is, the higher your premium will be.
See below just how much your average annual premium can increase when you select higher dwelling coverage limits for your home. The average annual premiums below are for home insurance policies in Texas with a $1,000 deductible.
Cost of homeowners insurance by deductible
Your home insurance deductible is how much you’ll pay out of pocket for a claim before your homeowners coverage kicks in. Home insurance deductibles usually sit between $500 and $2,000. Your deductible will also affect your premium — the lower your deductible, the higher your premium.
Check out the table below to see how your premium for a policy with $300,000 in dwelling coverage in Texas can vary based on your deductible.
How to get cheap homeowners insurance in San Antonio
You can utilize a few tips to find cheap homeowners insurance in San Antonio, including:
Compare home insurance quotes. Comparing quotes from multiple companies is the best way to save money on home insurance. Insurers consider rating factors differently, so you should get a homeowners insurance quote from at least three companies to find the best coverage for your situation. The best homeowners insurance companies will have affordable rates and reliable coverage.
Apply for discounts. Discounts are an excellent way to save money on your home insurance policy. Almost every insurance company offers a wide variety of home insurance discounts — just ask. Bundling auto insurance with home insurance is a common discount that can save you hundreds per year.
Increase your deductible. Increasing your home insurance deductible automatically lowers your premiums, but you’ll have more out-of-pocket expenses when there’s a claim. Be sure you can afford to pay a higher deductible before increasing it.4
Texas homeowners insurance rates by city
Home insurance costs vary by city and even by ZIP codes within the same city. Different areas are susceptible to different risks. For example, certain parts of the city may experience higher rates of vandalism or theft, so rates may be higher there, while homeowners closer to fire stations may pay lower rates.
Though San Antonio experiences fewer tornadoes than the rest of Texas, it experiences more than the national average. Home insurers take this into account when setting rates, along with numerous other factors.
Check out the table below to see how home insurance rates vary across cities in Texas for a policy with $300,000 in dwelling coverage and a $1,000 deductible.
How much homeowners insurance do you need in San Antonio?
Though Texas law doesn’t require you to carry homeowners insurance, it’s a good idea to have it. Home repair and replacement expenses can be extremely costly for homeowners without help from an insurance company. If you have to take out a mortgage on your home, your mortgage lender will require you to carry a home insurance policy.
The 80/20 rule is a good guideline to follow for home insurance coverage. Purchase coverage equal to or greater than 80% of your home’s replacement cost.5 No matter how much dwelling coverage you buy, it’s crucial to know what your home insurance policy covers.
What are some of the biggest risks when owning a home in San Antonio?
The following natural disasters pose the biggest risks to homes in San Antonio: