Home Insurance in McAllen, TX Just Got A Lot Cheaper!
How Much Does McAllen, TX Homeowners Insurance Cost?
The average cost for home insurance in McAllen is $1,054 among TGS Insurance Agency customers. This average is based on policies with an average home value of $266,268. While every policy is different and dependent on multiple factors, including your home’s value and coverages you choose, we have proudly been able to save our Texas customers an average of $870 per year on their home insurance premiums when they switch to us. Finding out how much you can be saving is as easy as providing your address above for an instant quote– really!
Average Home Insurance Premiums in McAllen By Dwelling Coverage Levels
Several factors go into a carrier’s calculations for your McAllen home insurance quote. One of the biggest factors is the level of dwelling coverage that you select. Dwelling coverage is based on the value of your home’s structure if you were to rebuild it to its current condition today. For instance, in McAllen, carrying $150,000 dwelling coverage costs an average of $850 per year, while increasing that coverage level to $350,000 will costs you an average of $1,221 per year.
| Home Value | Average Annual Premium (incl. Wind Coverage) |
|---|---|
| $150,000 | $850 |
| $200,000 | $913 |
| $250,000 | $1,034 |
| $300,000 | $1,124 |
| $350,000 | $1,221 |
| $400,000 | $1,298 |
| $450,000 | $1,371 |
| $500,000 | $1,469 |
| $550,000 | $1,604 |
| $600,000 | $1,687 |
| $650,000 | $1,779 |
What Will A Standard McAllen, TX Homeowners Insurance Policy Cover?
It’s important for homeowners to understand what is and isn’t covered in their homeowners insurance policy. Homeowners insurance offers financial protection for your home and other valuable assets against disasters, accidents, and theft. The standard homeowners insurance policy includes six coverages that protect the structure of your home, personal property, additional living expenses, legal fees, and medical expenses. Let’s take a closer look at these basic coverage options:
Coverage A – Dwelling
This covers the physical structure of your home and anything that’s attached to it, like plumbing or wiring. A good rule of thumb is your coverage should be equal to your home’s replacement cost value as it stands today so be sure to update your policy if you do any remodeling that increases the value of your home!
Coverage B – Other Structures
Other structures coverage protects detached structures such as a detached garage, free-standing shed, or your fence.
Coverage C – Personal Property
Personal Property coverage protects any personal belongings inside and outside of your home. Examples include appliances, clothing, electronics, furniture, jewelry, etc. If you have valuables that exceed your policy limits, talk to your insurance agent about supplemental policies to close any gaps in coverage.
Coverage D – Loss of Use
Loss of Use pays for additional living expenses in the event your home is not liveable because of damage from a listed peril. Expenses covered include hotel or restaurant bills up to a certain limit.
Coverage E – Personal Liability
This coverage pays for legal and medical fees if you are held responsible for injury or personal property damage to someone else.
Coverage F – Medical Payments to Others
If someone is injured on your property it covers the medical fees, regardless of who is at fault. It’s important to note that this does not apply to you or members of your household.
At TGS Insurance Agency, our independent agents are dedicated to working with you to tailor an insurance policy that is tailored to your specific needs- including helping you determine what level of each type of coverage you need to be fully protected.
Common Home Insurance Endorsements in McAllen, TX:
Flood Insurance: Over 43% of homeowners think that flood damage is covered by the standard homeowners insurance policy when that is simply not the case. To get protection from flood damage, you must purchase a flood insurance policy. At TGS Insurance we work with FEMA as well as private insurance companies to help get you insured with the right flood insurance policy at a price that works best for you.
Hail/Windstorm Insurance: Homeowners who live near the Texas coastline, may not be covered for hail and windstorm damage by their standard homeowner insurance policy because of how often natural disasters occur in the area. Having hail/windstorm coverage is a must for McAllen, TX homeowners because it protects your home and personal items from gusty storms like hurricanes, tornadoes, tropical storms, and even heavy rainfall. At TGS Insurance, we believe in providing our McAllen, TX customers with the utmost protection so that is why we automatically include a 2% wind/hail deductible into each of our homeowners insurance policies
Water Backup: Water backup is one of the most common causes of water damage in homes and is not covered by your standard homeowners insurance policy. A water backup policy add-on is a great safety net for when the unexpected happens. Every McAllen, TX homeowner should consider purchasing water backup coverage because it protects your home and personal items from a sump pump, backed-up drains, or sewer backup as well as covering mold damage! The average cost for water backup coverage in Texas ranges from $50-$250 per year with coverage starting at $5,000 going up to $25,000.
We’re Your “One-Stop-Shop” for Insurance – Bundle Our Services and Save!
When you bundle your auto and home insurance policies you have the opportunity to save up to 25% on your premium. Do you need an umbrella policy? Do you need to add more coverage to your home insurance policy? Contact one of our agents today for all your insurance needs!
Zip Codes in McAllen, TX That We Insure:
| 78501 | 78504 | 78557 |
| 78502 | 78505 | 78572 |
| 78503 | 78539 | 88540 |
Don’t see your zip code listed? Don’t worry, as long as it’s in Texas, we’ve got you covered!
