Midland ,TX Home Insurance - The cost of homeowners insurance is influenced by a range of factors, including the value of your coverage, deductible, and the construction materials used in your home.
VHome Insurance conducted a thorough analysis of the Midland, TX homeowners insurance market, taking into account factors like average costs, range of coverages, deductibles and customer satisfaction ratings to determine the best providers. The Average home insurance cost in Midland, TX is $2154. Enter your zipcode below and click “GO” to get multiple free quotes.
It is important to understand the different coverage options available in Midland, TX. VHome Insurance will help you navigate the world of homeowners insurance coverages in Midland, TX.
| Coverage Level | Average Annual Premium |
|---|---|
| $100,000 | $862 |
| $200,000 | $1,465 |
| $300,000 | $1,809 |
| $400,000 | $2,757 |
| $500,000 | $3,468 |
Home insurance costs in Midland can vary greatly based on location. The frequency of claims in your area can affect the cost of your policy. Simply put, the location of your home can significantly impact your homeowners insurance premium.
| Zipcode | Average Insurance Premium |
|---|---|
| 079706 | $2,821 |
| 79701 | $2,703 |
| 79707 | $2,941 |
| 79705 | $2,880 |
| 79703 | $2,745 |
One key aspect of your policy is the deductible, which is the amount you pay out of pocket before your insurance kicks in. Choosing the right deductible can have a major impact on your insurance premiums and overall savings. In this guide, we'll help you understand the options available for homeowners insurance deductibles in Midland, TX, and how to choose the right one for your needs.
| Deductible Level | Average Annual Premium |
|---|---|
| $500 Deductible | $2,208 |
| $1000 Deductible | $1,975 |
| $1500 Deductible | $1,863 |
| $2500 Deductible | $1,680 |
| $5000 Deductible | $1,422 |
| Home Insurance Company Near Midland, TX | Homeowners Insurance Agency Near Midland, TX | Address |
|---|---|---|
| Travelers | Insource Insurance Group Llc | 5108 WAYLAND DR, ODESSA, TX, 79762 |
| Liberty Mutual Independent | Klemme Insurance Services Llc | 3415 CALDERA BLVD, MIDLAND, TX, 79707 |
| Travelers | West Texas Insurance Exchange Inc | 1000 MAPLE, ODESSA, TX, 79761 |
| State Farm | Abraham Gutierrez | 4310 W Illinois Ave Ste 280, Midland, TX, 79703-5708 |
| Allstate | Bogan Dunlap & Wood Insurance Agency Llc | 5108 Wayland Dr, Odessa, TX, 79762 |
| Place | 1 Car Bundle Savings On Insurance | 2 Car Bundle Savings On Insurance | 3 Car Bundle Savings On Insurance |
|---|---|---|---|
| Gardendale CDP, Texas | $127 | $169 | $253 |
| Midland County, Texas | $130 | $173 | $260 |
| Odessa CCD, Ector County, Texas | $127 | $169 | $254 |
| Place | Home insurance as a % of housing cost for homes with mortgage | Home insurance as a % of housing cost for homes without mortgage |
|---|---|---|
| Midland, TX | 6.5% | 17.2% |
| Gardendale | 7.1% | 21.41% |
| Midland County | 6.64% | 17.77% |
| Odessa | 7.59% | 21.24% |
| Midland Home By Monthly Rent | Total Homes | % of Total | Estimated Monthly Income To Afford Rented House Including Renters Insurance |
|---|---|---|---|
| $200 to $299 | 231 | 1.0% | $796 |
| $300 to $499 | 558 | 4.0% | $1246 |
| $500 to $749 | 3,313 | 24.0% | $1921 |
| $750 to $999 | 3,856 | 28.0% | $2671 |
| $1,000 to $1,499 | 4,211 | 30.0% | $3796 |
| $1,500 or more | 1,477 | 10.0% | $5446 |
| Streets in Midland Area | Homeowners Insurance Cost |
|---|---|
| Club Dr, Tanforan Ave, Holmsley Ave, Houston Ave, E Longview Ave, Monty Dr, W Co Rd 75, Elk Ave, Fannin Ave, Cessna Dr | $1,057 |
| Stoneleigh Dr, Emerson Dr, San Saba Ct, Washita Ct, W Pine Ave, Windecker St, W Humble Ave, S Co Rd 1315, Maxwell Dr, Broadway St | $1,087 |
| E Broadway St, Fringewood Dr, Canemont St, Woodlawn Dr, S Fairgrounds Rd, Chadwick Ct, Hunter St, Ysleta Ct, E Hickory Ave, Peterson St | $993 |
| Keenland Dr, Auburn Pl, N Bentwood Dr, San Rafael, Barber St, San Machell Dr, Pueblo, Boeing Dr, Apollo Ct, Calen Ct | $1,058 |
| E Industrial Loop, Holloway Ave, S N St, Cloverdale Rd, Augustine Ct, Franklin Ave, Apache Dr, Crescent Dr, Cedar Ave, Howard Dr | $1,013 |
| W Co Rd 54, S H St, Baybrook Pl, W Co Rd 54, E Co Rd 55, Rainbow Rd, E Co Rd 62, S Pecos St, Alicia Ct, Mathis St | $1,109 |
| Humble Ave, Evans Ave, San Marino, N State Hwy 349, Cristobal Ct, N Co Rd 1130, Camden, McClintic St, Avondale Dr, Affirmed Ave | $1,092 |
| N Co Rd 1138, Nassau Dr, E Florida Ave, Gossett St, Idlewilde Dr, Bankhead Hwy, S Main St, Bandera Dr, Timber Ln, Crowley Blvd | $1,002 |
| E Kansas Ave, N O St, Pine Ct, Carter Ave, Faudree Rd, Hackberry Ct, Wylea Cv, Manor Village Cir, Springwood Ct, Jesse St | $1,050 |
| W Hwy 80, Northfield Dr, Ashdown Pl, Stutz Dr, Boulder Dr, W Parker Ave, Greathouse Rd, N Benton St, Neely Ct, Metz Ct | $1,081 |
| Place | Savings For Senior Occupied Homes |
|---|---|
| Midland | $156 to $159 |
| Gardendale | $152 |
| Midland County | $156 |
| Midland South | $153 |
| Low Deductible | High Deductible | |
|---|---|---|
| Deductible | $1,700 | $3,700 |
| Yearly Midland Homeowner Insurance Premium Example | $2,900 | $1,900 |
| Out of Pocket Expense During Claim | $1,700 | $3,700 |
| Total Home Insurance Premium for 3 years + Out of Pocket Expense for Claim | $10,400 | $9,400 |
| Net Savings to Midland Home Owner from High Deductible Plan | $1,000 | |
| Scenario | Midland, TX Home Replacement Value MORE than Home Value | Midland, TX Home Replacement Value LESS than Home Value |
|---|---|---|
| Replacement Value | $331,500 | $205,000 |
| Insurance Premium based on Replacement Value | $2,550 | $1,575 |
| Risk Exposure from Under Insuring Coverage | Unnecessary Home Insurance Coverage of $64,500 | Risk Exposure from Under Insuring Coverage is $62,000 |
| Premium Impact | Insurance cheaper by $475/year | Insurance costlier by $500/year |
| Insurance Company | Amica Mutual Insurance Company | GEICO Insurance | Travelers |
| Monthly Premium | 57 | 103 | 136 |
| Year Built | 1972 | 1994 | 2010 |
| Home Details | 2 Beds, 1 Baths | 3 Beds, 1 Baths | 4 Beds, 1 Baths |
| Coverage Amount | $100000-$125000 | $150000-$175000 | $250000-$300000 |
| Deductible | $1000-$2500 Deductible | $500- $1000 Deductible | $5000 to $10,000 Deductible |