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El Paso, TX Homeowners Insurance
El Paso was once known as Six Shooter Capital—a place where lawlessness was the law of the land. Today, El Paso is known as Sun City and is home to some of the best food, beautiful mountain views, and most welcoming people you’ll ever encounter. With over 300 days of sunshine per year, El Pasoans have plenty of opportunities to explore the city’s vast natural beauty at Franklin Mountains State Park—the largest urban park in America. Even if the Chihuahuan Desert’s beauty alone wasn’t enough to convince you to call El Paso home, the city’s fifth-place safety rating and low housing costs definitely will.
Once you’re settled in the West Texas city, it’s important to make sure you’re prepared for all of El Paso ’s hazards, although there truly aren’t many. While El Paso is safer and cheaper than much of Texas, insuring your home can still get costly.
Compare El Paso home insurance companies, coverage options, and home insurance costs with Insurify. Our home insurance tools make finding the best home insurance policy easy so you can secure savings in just a few minutes.
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Cheapest Home Insurance Companies in El Paso
For homeowners in El Paso, 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 El Paso. The following are the best insurance rates from carriers that offer homeowners insurance in El Paso.
How to Find Cheap Home Insurance in El Paso
Homes in El Paso are quite affordable, which is probably why nearly 60 percent of El Pasoans own their homes. But buying a house is only the first step in establishing your new Texas home. You’ll also want to make sure your home and personal belongings are protected from all the risks life in the desert can pose.
The first step to protecting your property is homeowners insurance. Though not required by law, home insurance provides financial liability for your property and belongings from natural disasters or theft. Different coverage levels are available for different property types, locations, and other factors.
Keep reading for a full guide on El Paso home insurance.
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Cheapest Home Insurance in El Paso 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 El Paso costs $1,345 annually, and the median home value is $143,505.
El Paso offers some of the cheapest home insurance rates in Texas, but comparing free quotes can help you save even more. Check out the cost of homeowners insurance in El Paso with insurance agencies like Allstate, State Farm, Liberty Mutual, and GEICO below.
|Average Home Cost in El Paso 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 El Paso 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.|
Cheapest ZIP Codes in El Paso for Home Insurance
El Paso home insurance quotes are some of the cheapest in Texas, and some El Paso neighborhoods have even better home insurance rates than others. This is because, like property costs, home insurance varies in price from neighborhood to neighborhood.
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. So your specific neighborhood may determine if you pay more or less on our annual premiums.
Rates in El Paso are still relatively high compared to the national average, but your specific home insurance rate depends on which area you live in.
Home Insurance Coverage Types in El Paso
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),
- 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.
Tornado Coverage for Your Texas Home
While tornadoes don’t wreak havoc often in El Paso, you’ll want to make sure you’re covered before a windstorm comes to town. Luckily, most basic homeowners coverage includes tornado damage as a covered loss.
The only time tornado damage isn’t covered by home insurance is if your insurance policy specifically excludes wind damage. If your homeowners policy doesn’t include windstorm coverage, you’ll want to purchase additional windstorm insurance coverage from your insurance company.
Protecting Your El Paso Home From Floods
El Paso sees over 300 days of sunshine each year, but that doesn’t mean your home is always safe from storms and flooding. In fact, El Paso is known to experience excessive amounts of rain in a matter of days, and one 2006 storm left El Pasoans with over $200 million in property damage.
Most home insurance policies don’t protect your home from water damage. The best way to protect your home from flood or water damage is with a flood insurance policy. Ask your insurance agent about purchasing flood insurance through the National Flood Insurance Program to make sure you’re covered before the next storm.
How to Find the Cheapest Home Insurance in El Paso
Finding an affordable homeowners insurance policy in El Paso doesn’t need to be hard. Insurify is here to help you compare policies to find the best home insurance, and it only takes a few minutes. That way, you can get back to enjoying El Paso ’s charm with peace of mind, knowing that your home is safe from every peril in Sun City.
Use Insurify to find the best homeowners insurance for your property in El Paso.
Frequently Asked Questions
It’s likely that your home insurance policy covers fire damage since El Paso doesn’t regularly experience wildfires. Still, it’s important to check your policy’s exclusions to determine your level of protection. If fire damage isn’t included in your policy, you may want to ask your insurance agent about purchasing additional fire insurance coverage.
Most home insurance policies include a minimum of $100,000 of liability coverage. If you’re looking for more liability insurance, most insurance agencies allow policyholders to increase this limit to $500,000. Increasing your liability limit never hurts, but keep in mind that this coverage will come at a higher annual premium.
It may feel impossible to save on your home insurance cost without skimping on coverage or increasing your deductible. But if you’re looking for multiple insurance services (like auto insurance, home insurance, or life insurance), bundling your policies can help you secure savings. On average, policyholders who bundle their home and car insurance policies save upwards of 20 percent. Call today to ask your insurance agent what else you can do to save on your El Paso home insurance rates.
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