Who Has the Cheapest Home Insurance in Waco, Texas?

Who Has the Cheapest Home Insurance in Waco, Texas?

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We collected insurance quotes across Waco, Texas, and found that Mercury Insurance has the best rates overall, with an average annual premium of $657. However, for two of the sample properties, other insurers offered lower rates. The price of insurance will vary based on the age and condition of your home, the amount of coverage you need and where it's located, so it's essential you get quotes from several insurance companies.

Cheapest Homeowners Insurance Companies in Waco, TX

Mercury Insurance had the cheapest homeowners insurance rates overall for Waco, Texas, at $657 per year, which is 48% less than the citywide average of $1,268. The statewide average cost of home insurance is $2,451 per year.

Mercury also had the best home insurance price for coverage on an older home, with an annual cost of $557 for a property valued at $75,000.

However, Mercury didn't have the lowest rates across the board. Different companies offered the best prices for each of our three sample properties, making it difficult to offer a generalized recommendation for the company that offers the most affordable homeowners insurance. This underscores how essential it is for homeowners to check multiple insurance companies, as every insurer weighs factors like your home's age, value and location differently when setting rates.

We collected homeowners insurance quotes for three homes of different values and ages to gain a detailed understanding of how insurance companies in Waco compare for a variety of homes. Our sample homes are all in the 76707 ZIP code in Waco and have stucco siding. In addition, our homeowners have good credit and have not made a homeowners insurance claim in the last five years.

Homeowners Insurance Companies in Waco: By Cost

Annual premium
1Mercury Insurance$657
3Lighthouse Insurance$666
6National General Insurance$922
7Kemper Insurance$955
8National Specialty Insurance Company$999
10Republic Insurance$1077
11Nationwide Insurance$1079
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What Home Insurance Do I Need in Waco?

Homeowners insurance is not required by law in Waco, but it's almost always required as a condition of taking out a mortgage. If you are financing your home, you will likely need to purchase coverage.

We recommend that homeowners in Waco purchase enough coverage to pay for repair or replacement of their home and its contents if the house is completely destroyed. You should purchase a policy that covers the full value for the structure, as well as the value of your personal property including furniture, electronics, clothing and appliances. We also encourage that you buy as much liability insurance coverage as you can afford. That's especially true if you have a high net worth or often partake in high-liability activities, such as owning a large dog or frequently having guests over for parties.

Common Natural Disasters in Waco

There are two types of natural disaster that Waco residents should be certain they are prepared for: wind damage and flooding. There is a history of tornadoes striking Waco, and while most homeowners insurance policies cover wind damage, you should understand whether you're protected and what to do if a windstorm is coming.

Waco residents, especially those who live near the Brazos River and Lake Waco, should also be aware of flood risk. While Waco is not at as high a risk of flooding as coastal Texas cities like Houston, flooding is still a significant possibility for many parts of McLennan County. Unfortunately, flood damage is not covered by standard homeowners insurance. We strongly recommend Waco residents who live in low-lying areas—especially if they are in a special flood hazard area—to purchase flood insurance, either from the National Flood Insurance Program (NFIP) or a private insurance company.

Local Home Insurance Agents in Waco

Though some insurance companies only offer homeowners insurance online, you may prefer to purchase coverage directly from a local insurance agent, especially if you have multiple policies or are unsure about the level of coverage you should buy. We've included a list of insurance agents local to the Waco area that can provide in-person advice and service when you are purchasing homeowners insurance.

Insurance agent
Alta Vista/DowntownHerman Bell Insurance Agency2118 La Salle Ave., Waco, TX 76706
Zucha Insurance1026 Washington Ave., Waco, TX 76701
Insurors of Texas225 S. 5th St., Waco, TX 76701
TWFG Insurance Services Waco/Killeen2400 W. Waco Dr., Waco, TX 76701
Scott Riddle Agency215 Mary Ave., Waco, TX 76701
Bellmead/LakeviewFarmers Insurance - John Chappell2507A Behrens Circle, Waco, TX 76705
Matula Insurance2720 Bellmead Dr., Waco, TX 76705
Rodney D. Young Insurance903 N. Interstate 35 Frontage Rd. Suite 111, Bellmead, TX 76705
A-MAX Auto Insurance100 North, TX-340 Loop, Bellmead, TX 76705
Brook Oaks/Sanger HeightsFreeway Insurance2425 W. Waco Dr., Waco, TX 76707
Watkins Insurance Group3001 W. Waco Dr., Waco, TX 76707
Mike McKenzie - State Farm Insurance Agent2921 W. Waco Dr., Waco, TX 76707
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