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Lubbock, TX Homeowners Insurance Quotes (2023)
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Written by
Jackie Cohen
Editorial Manager
Jackie Cohen is an editorial manager at Insurify specializing in property & casualty insurance educational content. She has years of experience analyzing insurance trends and helping consumers better understand their insurance coverage to make informed decisions about their finances.Jackie's work has been cited in USA Today, The Balance, and The Washington Times.
Edited by
John Leach
Insurance Content Editor at Insurify
John Leach is an insurance content editor who has worked in print and online. He has years of experience in car and home insurance and strives to make these topics easy to understand for everyone. He has a linguistics degree from UC Santa Barbara.
Updated February 28, 2022
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Lubbock, TX Homeowners Insurance
Lubbock, Texas, is known as “Hub City” to its nearly 260,000 residents. It gets its moniker for being an educational, healthcare, and economic hub due to its central location in the South Plains region in northwest Texas. The central location makes the city easily accessible to nearby residents and visitors. Most people move to Lubbock to attend or work at Texas Tech University and for the relatively low living expenses. It’s not just Lubbock ’s economics that makes people stay; it’s the friendly people who will always stop and help a neighbor in need. When you live in Lubbock, you get plenty of love and support down in the heart of Texas.
But living in the South Plains means you live on flat terrain. It’s no surprise that Lubbock falls within Tornado Alley. The weather can be quite unpredictable. You might experience heat, cold, and high winds all in one day. That kind of unpredictable weather makes homeownership a more challenging thing to tackle. You never know when you could experience property damage. Thankfully, a home insurance policy in Lubbock can help out when things go awry.
Insurify helps you find the best and cheapest home insurance in Lubbock, TX. Compare quotes and get everything you need all in one place. Try it out today!
Cheapest Home Insurance Companies in Lubbock
For homeowners in Lubbock, it's important that you evaluate all of your potential insurance options to ensure you are finding the best rate. Comparing the right insurance companies will allow you to get the best possible insurance rate for your home.
To simplify comparing companies, Insurify has analyzed rates from top insurance providers in Lubbock. The following are the best insurance rates from carriers that offer homeowners insurance in Lubbock.
| Cheapest Companies | Quotes The car insurance quotes, statistics, and data visualizations on this page are derived from Insurify’s proprietary database of over 4 million car insurance applications from ZIP codes across the United States. Insurify’s data science team performs a comprehensive analysis of the various factors car insurance providers take into account while setting rates to provide readers insight into how car insurance quotes are priced. |
|---|---|
| Nationwide | $681 |
| Kemper | $715 |
| USAA | $970 |
| Esurance | $1,018 |
| Allstate | $1,075 |
How to Find Cheap Home Insurance in Lubbock
The housing market in Lubbock, Texas, is pretty low in competition, with over a thousand affordably priced homes available at a time. If you are looking for a new home or if you recently purchased a new home, you’re in luck.
With the purchase of your new home in Lubbock, you are making a significant financial investment that comes with risks of all sizes. The good news is you can do something to minimize risk and protect your financial investment.
The first thing you can do is to protect your property in Lubbock through homeowners insurance. Home insurance gives you financial liability and personal liability coverage from the unknown. So, when natural disasters, theft, or vandalism occur, you have protection for your property and personal belongings. There are insurance options for everyone, depending on the property type, location, and other factors.
Are you ready to get your home insurance plan up and running? Keep reading for a full guide on Lubbock home insurance.
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Cheapest Home Insurance in Lubbock by Company
Homeowners insurance rates aren’t always designed with savings in mind. That’s where Insurify comes in. Our free home insurance comparison tool allows you to find the best policy for the best rate fast. And your information stays private and protected.
As of 2021, the average home insurance premium in the Lubbock area costs $2,671 annually, and the median home value is $158,244.
Housing prices and living expenses in Lubbock are relatively low compared to similar-sized cities in Texas. The cost of living falls eight percent below the national average. Due to the affordability of living and housing, Lubbock ’s residents are more likely to buy homes. Texas homeowners insurance is higher in price compared to the national average. You can expect to pay more or less on home insurance in Lubbock, Texas, depending on a few factors. But there is a way you can start saving now.
Start by comparing home insurance prices with the insurance company. Every insurance agency prices differently. For example, you can expect to pay a different rate with Allstate than you would with Farmers, and so on. All you need to do is figure out what coverage options you need. Then, use Insurify to compare home insurance and evaluate the best home insurance companies and get home insurance quotes for free. It’s simply that easy!
You can start now. Look at the average cost of homeowners insurance in Lubbock, TX, below.
| Average Home Cost in Lubbock The car insurance quotes, statistics, and data visualizations on this page are derived from Insurify’s proprietary database of over 4 million car insurance applications from ZIP codes across the United States. Insurify’s data science team performs a comprehensive analysis of the various factors car insurance providers take into account while setting rates to provide readers insight into how car insurance quotes are priced. | Average Annual Insurance Premium in Lubbock The car insurance quotes, statistics, and data visualizations on this page are derived from Insurify’s proprietary database of over 4 million car insurance applications from ZIP codes across the United States. Insurify’s data science team performs a comprehensive analysis of the various factors car insurance providers take into account while setting rates to provide readers insight into how car insurance quotes are priced. |
|---|---|
| $158,244 | $2,671 |
Average Annual Home Insurance Premium in Lubbock by Company
Average prices for standard homeowners insurance for a 7-15 year old home, $200,000 in coverage
Nationwide$681
Kemper$715
USAA$970
Esurance$1,018
Allstate$1,075
Travelers$1,274
State Farm$1,415
Texas Farm Bureau$1,660
Cheapest ZIP Codes in Lubbock for Home Insurance
If you live in the 79409 ZIP code, don’t expect to pay the same for home insurance as your friend across town in the 79430 ZIP code. The difference is in the digits.
Like property costs, home insurance varies in price from city to city. Pricing is determined by ZIP code–specific variables, such as the volume of claims filed nearby, crime rates, and property costs, and risk variables, such as natural disaster frequency. Even your specific neighborhood may determine if you pay more or less on your annual premiums.
Rates in Lubbock can be relatively high or low compared to the national average; it all depends on which area you live in. Here are the most and least expensive ZIP codes in Lubbock for home insurance.
Home Insurance Coverage Types in Lubbock
There are several types of home insurance. Specific terms of insurance policies may vary by city, but in general, the standard policy types are as follows:
The simplest and least comprehensive type of homeowners insurance
Provides coverage for a handful of potential problems, including
- Dwelling coverage for damages from some natural disasters (storms, fires, wind, lightning, volcanic eruption),
- explosions,
- theft,
- damage from vehicles,
- or civil commotion.
Broad form homeowners insurance policies include all basic form coverage, plus protection from:
- falling objects,
- damage from the weight of ice, snow, or sleet,
- freezing of household systems including HVAC and pipes,
- sudden and accidental damage to pipes and other household systems from artificially generated electrical current,
- accidental discharge or overflow of water or steam,
- sudden and accidental damage.
HO-2 policies typically cover both dwelling protection and personal property.
In some cases, broad form coverage may also include liability coverage. However, it still only covers the specific damages listed in the policy.
The most common form of homeowners insurance is known as a “special form” policy.
While HO-1 and HO-2 policies are “named peril” policies (meaning they only cover dangers that are specifically listed in the policy), HO-3 policies are “open peril” policies meaning they’ll cover all dangers except those specifically excluded in the policy documents.
HO-4 policies, also known as renters insurance, are for people who lease rather than own their homes.
Tenant’s form policies typically cover all the same dangers as HO-2 policies.
These policies include personal property coverage and liability coverage but don’t cover the physical structure of the house.
Some HO-4 policies may also include loss of use coverage for the tenants.
Comprehensive form policies are usually the broadest and provide the highest level of coverage; not surprisingly, they also tend to be the most expensive type of homeowners insurance policy.
The biggest difference between HO-3 and HO-5 policies is that most HO-3 policies are “actual cash value” policies, whereas typically HO-5 policies are “replacement cost value” policies.
An actual cash value policy will only reimburse you for the actual value of a damaged or destroyed item, while a replacement cost value policy will reimburse you for however much it would cost to completely replace or repair the damaged or destroyed item (up to the coverage limits on the policy).
HO-5 policies also provide personal property coverage against a wider range of dangers than the typical HO-3 policy. Many HO-5 policies also have extra coverage for high-value personal property, such as jewelry and artwork.
Not surprisingly, condo form insurance is for condominium owners. HO-6 policies generally protect against the same types of dangers as HO-3 policies.
They provide dwelling protection coverage with a twist: HO-6 policies cover the walls, floors, and ceiling of the condo unit but not the rest of the building.
These policies also include personal property and liability coverage and may include loss of use coverage.
If you own a mobile home or manufactured home, you likely have an HO-7 policy.
Mobile home form policies are typically identical to HO-3 policies, except they’re designed specifically for mobile and manufactured homes.
Like HO-3 policies, they provide dwelling protection coverage, other structures coverage, personal property coverage, liability coverage, and possibly loss of use coverage as well.
HO-7 policies generally only protect the home when it’s stationary; if you plan to move your mobile or manufactured home, you’ll need to get a special policy to cover it while it’s in transit.
Older homes have generally been built to less stringent code standards than recently built homes, and so insurers have designed a specialized type of homeowners insurance policy for them.
HO-8 policies often only cover the basic perils listed in HO-1 policies and generally apply to homes that are registered landmarks or otherwise deemed historic homes.
Owners of registered landmarks are typically forbidden from making the updates to HVAC, electrical, and other parts of the home that would enable them to qualify for a standard HO-3 policy, so an HO-8 policy is often the only option for them.
For more detailed Texas city level guides, check out these below.
Extreme Weather and Covered Loss in Lubbock
The northern Texas panhandle and central Texas are considered to be a part of Tornado Alley. Unfortunately, Lubbock, Texas, is included. Hurricane-force winds of 50 to 75 miles per hour are familiar to most Lubbock residents in the springtime. Roof shingles are often ripped off or damaged. Trees are torn down and cause damage to homes as well. =
Blizzards often occur in Lubbock, too. The 2016 blizzard smashed records with snowdrifts up to four feet high. The storm killed livestock and caused road accidents, and water damage left homes and businesses in ruin. The same year, record hail and flooding devastated homes across the Lubbock area. These storms set a precedent for at least one major storm occurring once a year after that.
While fire, wind, and hail are covered on the standard homeowners insurance policy in Lubbock, Texas, water damage is not covered. Thankfully, there is a way to save yourself from paying hundreds to thousands of dollars in water damage repairs each year. Policyholders can purchase separate flood insurance through their insurance companies. Talk to your insurance agent for more information.
How to Get the Best Price on Homeowners Insurance in Lubbock
There are some tricks to getting the best price on home insurance in Lubbock, Texas. The first trick is to bundle insurance products like auto insurance or life insurance with home insurance. Combining multiple insurance products like home and car insurance means you’re loyal to the insurance company. And as a result, most companies are likely to give you a discount on insurance for your loyalty.
Next, you can save more with other discounts. Insurance companies often offer loyalty discounts, claims-free discounts, and paid-in-full discounts. Another trick is to set your deductible a tad higher for a lower premium. Just make sure you don’t set your deductible too high. Otherwise, you could be stuck paying a costly, unaffordable deductible if you file a claim.
Next, get a home insurance quote by comparing the best homeowners insurance companies out there. All you need to do is go to our website and fill everything out, and you’ve got a quote delivered to your email in just a few minutes. It’s simple and easy to save. Try it out now!
How to Find the Cheapest Home Insurance in Lubbock
Lubbock, Texas, is a central hub for the South Plains, the Permian Basin, and the Texas Panhandle. Being so centrally located in a friendly city makes everything easy to access. You don’t have to go far to insure your home, though. You can get the right home insurance in Lubbock, TX, all in one place.
Use Insurify to evaluate the best home insurance quotes for your property in Lubbock.
Frequently Asked Questions
Many insurance companies are offering discounts on insurance due to COVID. Talk to your insurance agent about discounts available during this trying time.
Many insurance companies offer business insurance in Lubbock, TX. If you are an existing policyholder, you can ask your insurance agent to determine business insurance coverage options.
You can easily insure your collectibles by adding an endorsement or rider for your collectibles or similar items. Once you purchase your policy, ask your insurance agent about coverage options for collectibles.
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