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Laredo, TX Homeowners Insurance Quotes (2023)

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Laredo, TX Homeowners Insurance

Laredo, Texas, straddles the border of the United States and Mexico. There, you will find a blended culture of two countries. This Mexican border city doesn’t disappoint in any fashion when it comes to entertainment and things to do. You can fish and picnic in Lake Casa Blanca International State Park or learn about Laredo’s unique cultural heritage in the Republic of the Rio Grande Museum or Border Heritage Museum. You will find authentic Mexican food at popular spots, such as Bolillos Cafe North.

More and more people are learning to fall in love with Laredo and call it their home. In fact, Laredo is one of the fastest-growing cities in America!

As great as life is in Laredo, you have some unique challenges to overcome if you live there. Property crimes, including burglary and theft, are common to the area. Severe weather events, including strong thunderstorms and tornadoes, are also common.

The best way you can protect your Laredo home from damage is by using Insurify to get the best homeowners insurance rates possible, regardless of the value of your home, your background, or your insurance needs.

Cheapest Home Insurance Companies in Laredo

For homeowners in Laredo, 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 Laredo. The following are the best insurance rates from carriers that offer homeowners insurance in Laredo.

Cheapest CompaniesQuotes 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.

How to Find Cheap Home Insurance in Laredo

Did you know approximately 60 percent of Laredo residents own their own homes? Laredo residents take pride in owning a home and are looking for ways to properly insure their investment against any risks that inevitably come with homeownership.

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 and theft. Different coverage levels are available for different property types, locations, and other factors.

Keep reading for a full guide on Laredo home insurance.

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Cheapest Home Insurance in Laredo 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 2020, the average home insurance premium in the Laredo area costs $1,769 annually, and the median home value is $185,600.

No matter the size or value of your home, you can always find the best homeowners insurance companies by using Insurify to compare rates.

Average Home Cost in Laredo 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 Laredo 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 Home Insurance Premium in Laredo by Company

Average prices for standard homeowners insurance for a 7-15 year old home, $200,000 in coverage

Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers. Actual quotes may vary based on the policy buyer's unique driver profile.

Cheapest ZIP Codes in Laredo for Home Insurance

The cost of living in Laredo, Texas, is less than the national average and less than the Texas state average.

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 Laredo can be relatively high or low compared to the national average; it all depends on which area you live in.

Home Insurance Coverage Types in Laredo

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.

Laredo Homeowners Insurance and Windstorm Coverage

Laredo is prone to tornadoes and other wind events that can cause extensive damage to homes and property. In May 2017, a severe thunderstorm with winds up to 100 miles per hour hit the Laredo area, causing downed trees and powerlines, collapsed roofs, and other structural damage. Damages totaled approximately $1 million.

You can protect yourself from windstorm damage with homeowners insurance. Windstorm damage is covered by most home insurance policies, although there may be a separate windstorm deductible in areas prone to frequent windstorm damage.

Choosing a Deductible for Laredo Home Insurance

You may have heard that raising your deductible will lower your home insurance rates. While this is true to some extent, you should give careful consideration to your deductible before you decide to raise it. A higher deductible means that you will be coming up with more money out of pocket before the insurance company will pay for a covered loss. While it will save you money in the short term on your insurance premium, it may not be the right choice in the long run.

A better way to find cheap homeowners insurance is by using Insurify to compare rates. You can get home insurance quotes from top home insurers, such as State Farm and Allstate, in only minutes!

How to Find the Cheapest Home Insurance in Laredo

Laredo homeowners are proud to call such a beautiful city with a unique cultural heritage their home! Keep enjoying the good life in Laredo by protecting your home through homeowners insurance.
Use Insurify’s home insurance comparison for your property in Laredo.

Frequently Asked Questions

  • The novel coronavirus is a new fact of life and is forcing people to find ways to work in their homes. If you have recently begun using a home office, you may be looking for more coverage for equipment and furniture than your homeowners policy provides. There are a few ways to cover a home office, including the following. Homeowners policy endorsement: You can add an endorsement to your home insurance policy. This can be ideal for a small home business if you have less than $5,000 in home business property. If you have clients visiting your home, you may need to consider a business insurance policy to properly cover your risks. In-home business policy: This is somewhere between the homeowners policy endorsement and a full business insurance policy. You will receive more comprehensive coverage for business equipment and liability protection. Business insurance policy: Anytime you have client appointments in your home, there is a liability exposure. Someone could have an accident and need medical care, and you would be liable for their medical expenses. A business insurance policy will provide the most extensive coverage possible for your home office.

  • Home insurance isn’t one-size-fits-all. There are many different types of home insurance policies designed to cover a variety of home situations. However, if you can’t quite find exactly the combination of coverage options you need through a standard homeowners insurance policy, it is possible to add additional coverage options through a policy endorsement, sometimes called an insurance policy rider. You can cover expensive personal items by adding separate coverage for them through a scheduled personal property endorsement. If you have expensive jewelry, electronics, art, coin collections, etc., it may be a good idea to schedule those items so you’ll have the money to replace them after a home loss event, such as a theft or fire. If you are worried about water damage in your home, you can add a water backup endorsement. This adds additional coverage for home damage caused by a clogged or damaged drain or a sump pump. Sometimes, losses can be even more personal. Cybercriminals can hack into your computer to steal information, such as your Social Security number, credit cards, usernames, and passwords. Identity theft insurance provides coverage for expenses you’ve suffered after having your identity stolen. In today’s world, you can never be too careful! Your insurance agent may be able to help you identify other additional insurance options to give you more comprehensive insurance protection. Are you looking for additional home insurance options? Insurify can help you quickly get a home insurance quote with an insurance company that offers additional coverage options. It only takes a few minutes if you are ready to get started!

  • Fortunately, there are steps you can take to make sure you are getting all the possible savings available when shopping for home insurance products. The first step is seeing what home insurance discounts you may already qualify for. One of the easiest ways to receive a home insurance discount is through bundling your auto and home insurance policies. You can get a discount on both home and auto insurance if you buy both policies with the same insurance company. Here are a few other common home insurance discounts you may qualify to receive: Monitored home security system Impact-resistant roof Claims-free discount New home discount Loyalty discount Paying in full Monitored fire alarm system Gated community discount Non-smoker discount If you are in doubt whether any of these discounts are available to you, make an appointment at your local insurance agency to discuss them with your agent. Before you go to any appointments, make sure you are prepared to follow all state and local mandates put in place to protect the public from COVID-19, such as wearing a face covering and maintaining a distance of at least six feet between you and other people.

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Jackie Cohen
Jackie CohenEditorial 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.