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How Much is Home Insurance in Lakeway, Texas? 

The average home insurance policy written by TGS Insurance Agency in Lakeway costs homeowners $1,139. This average is based on an average home value of $360,624 and includes wind/hail coverage. We’ve been able to save our customers an average of $870 per year when switching their home insurance- to see how much you could be saving, start with an instant quote above by providing your address (yes, your address and 15 seconds is really all it takes!).

Home Insurance by Coverage Amount in Lakeway, Texas

It’s important as a homeowner to compare what you’re currently paying for home insurance against the averages so you can see where your policy premium stacks up. If you’re paying under the average, you’re either A) getting a great deal, or B) you’re underinsured which would leave you vulnerable to pay for repairs or replacements out of pocket since you’re not carrying enough coverage. If your home insurance premium is far above the average, you could be just overpaying for insurance or you’re overinsured. You don’t want to carry too much coverage because you’d just be wasting money paying for coverage that you’d never get the full payout for. 

Let’s take a look at the average home insurance quote provides by TGS Insurance in Lakeway for some of our most common home value ranges:

Home ValueAverage Annual Premium (incl. Wind Coverage)
$325,000-$374,999$1,135
$375,000-$425,000$1,164

What Does My Basic Home Insurance Policy Cover?

Your homeowners insurance policy is made up of six basic components meant to protect your home, everything inside your home, and any liability claims that may fall against you. You can add policy endorsements to further customize your coverage, but let’s review what the basics of an HO-3 home insurance policy are: 

 

Dwelling Coverage

Dwelling coverage protects your home’s physical structure, including walls, ceilings, roof, etc. Your dwelling coverage should always be what the total cost is to rebuild your home (with current construction costs included) not based on what your home’s worth. Should you not have enough dwelling coverage and suffer a total loss, you won’t have enough financial assistance from insurance to rebuild your home, forcing you to make up the cost difference. 

 

Other Structures Coverage 

This coverage will insure any structures not directly attached to your home, such as a detached garage, fence, or shed. 

 

Personal Property Coverage

Personal property coverage (PPC) will insure everything inside your home including appliances, clothing, electronics, furniture, etc. Keep in mind, PPC has certain limits so if you’ve got high-dollar valuables you may want to look into policy endorsements for extra protection. 

 

Loss-Of-Use Coverage

Should your home become unlivable due to a catastrophic loss, loss-of-use coverage would provide you and your family with monetary compensation for hotels and/or dining expenses while repairs were being made on your home. 

 

Personal Liability Coverage

If someone were to become injured on your property or you’re responsible for damage to someone else’s property, personal liability coverage would provide you with financial protection for any legal expenses should you be sued and found responsible. 

 

Medical Payments Coverage

Medical payments coverage will help pay for hospital bills or small injuries for guests who get injured on your property. It’s important to keep in mind this does not apply to members of your household. 

 

Popular Home Insurance Policy Endorsements For Customers Near Lakeway, Texas

Your home insurance policy covers the basic protections every homeowner needs, but there are policy endorsements you can add to cover any gaps in coverage that could leave you vulnerable. Let’s review the most common home insurance policy endorsements in Lakeway, Texas: 

 

  • Water Backup Coverage: This popular coverage protects your home and personal property from water damage caused by a backed-up drain or sewage system, or a broken sump pump. This add-on can cost you anywhere between $20-$50 per year with coverage options starting at $5,000. At TGS Insurance, our average customer pays just $25 per year for water backup coverage. 
  • Equipment Breakdown Coverage: Should one of your household appliances or systems become damaged due to a mechanical or electrical failure, equipment breakdown coverage could help cover some of the costs. Items include washers, dryers, ovens, microwaves, and water heaters- just to name a few. This policy add-on is about $20-$50 per year with about $50,000 in coverage. Most insurers do require a deductible of $250-$500.
  • Scheduled Personal Property Coverage: Your basic home insurance policy will cover your personal items but only to a certain limit. If you’ve got valuables such as artwork, electronics, firearms, jewelry, or other high-dollar items, you’ll want to consider scheduled personal property coverage. This add-on will pick up where your home insurance policy leaves off, giving you extra financial padding in the event of a loss. The cost of scheduled personal property coverage will vary depending on what you’re trying to insure, but it averages to be about 1% to 2% of the item’s total value. 

 

Zip Codes in Lakeway, Texas That We Insure:

 

  • 78734
  • 78738

Don’t see your zip code listed? Don’t worry, as long as it’s in Texas, we’ve got you covered!

Home Insurance Carriers in Lakeway, TX

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TGS Insurance is Lakeway's Premier Home Insurance Provider

Lakeway neighborhood

Lakeway, Texas is located on the south shore of Lake Travis in the beautiful Texas Hill Country. The small city is just about 25 miles west of downtown Austin and boasts gorgeous scenery paired with a resort-style community. Lakeway, Texas has golf courses, tennis courts, marinas, 500 acres of greenbelts, 100 acres of parkland and trails, a 65-mile long lake, a private airport, and a full-service hotel and spa. It's easy to see why so many Texans call Lakeway, Texas home! TGS Insurance is proud to be one of the leading home insurance providers for Lakeway, Texas residents.

Lakeway neighborhood

TGS Insurance provides homeowners in Lakeway, Texas peace-of-mind knowing they're protected with the best home insurance policy on the market. Each policy is shopped across our bank of 35+ A-rated (or better) carriers so each is packed with coverage and value at an exceptional price. As a Texas-owned agency with thousands of customers across the Lone Star state, TGS Insurance wins business from Lakeway, Texas residents through our extensive industry knowledge, money-saving policies, and great customer service!

Key Home Statistics in Lakeway

15,981

Total Population in Lakeway, TX

$472,700

Average Home Value in Lakeway, TX

$132,899

Median Household Income in Lakeway, TX

48

Median Age in Lakeway, TX

Trust TGS Insurance in Lakeway

Data as of October 25, 2021

15,000

Total
Customers

$4.27B

Total Assets Covered Projected

13,700

Total Homes Insured

5,200

Total Vehicles Insured

Major Neighborhoods in Lakeway, TX

Image of Bella Montagna  Neighborhood

Bella Montagna

Bella Montagna is a gorgeous community that boasts beautiful hill country views. The neighborhood has beautiful landscaping and scenery, and residents are just a quick drive from all of their favorite activities in downtown Austin and boating on Lake Travis.

Image of Rough Hollow Neighborhood

Rough Hollow

This picturesque community is a 1.800 waterfront community with world-class amenities and easy lake access. Homeowners have access to a full-time activities director, multiple amenity centers, yacht club, marina, and lazy river.

Image of Boulevard at Lakeway Neighborhood

Boulevard at Lakeway

This private community is the epitome of peaceful living. This gated neighborhood boasts gorgeous views and tranquil scenery around every home.

Image of Overlook at North Lakeway  Neighborhood

Overlook at North Lakeway

The Overlook at North Lakeway has some of the best views on Lakeway and residents enjoy that famous Texas sunset every night. Homeowners are close to local dining, shopping, and water-based activities.

Image of The Preserve at Lakeway Neighborhood

The Preserve at Lakeway

This beautiful 100-acre neighborhood features gorgeous hill country views, as well as Lake Travis and Lake Austin. This community offers the perfect escape from the hustle and bustle of nearby Austin.

Image of Estates of Flintrock Neighborhood

Estates of Flintrock

Estates of Flintrock is a luxurious community located in the heart of Lakeway. Homeowners enjoy scenery that feels like an escape from big-city life, with Texas-sized amenities closeby in downtown Austin.

Local Home Resources in Lakeway, TX

Police Departments
Lakeway Police Dept104 Cross Crk
Lakeway, TX 78734
5122616560