Desoto, TX Homeowners Insurance

DeSoto, is a small-town cin Dallas and Fort Worth. This charming neighborhood is located 15 miles from downtown Dallas in the southwest corner of Dallas County. DeSoto is home to a wealth of parks and natural areas that offer a perfect location for an outdoor getaway. All of the biggest attractions in the Dallas and Fort Worth area are only a stone’s throw away.

DeSoto has a population of about 53,000 residents, with a homeownership rate of 63.6%, which is slightly lower than the national average of 63.9%. 

The price of homeowners’ insurance in DeSoto depends on a number of factors, including the cost of the property, the value of your assets and the materials used to build the house. The location of your house will also have an effect on how much you pay for homeowners insurance. Some communities are more vulnerable to threats, such as wildfire, hail, earthquakes and other hazards. This would make the insurance policy more costly.

How Much Does Homeowners Insurance Cost in DeSoto?

Homeowners Insurance: DeSoto Rates Vs. State + National Averages

DeSoto Average (Annual) Texas Average United States Average
$1043 $3,468 $1,548

DeSoto Homeowners Insurance by Company

DeSoto homeowners insurance rates vary based on the insurance provider you choose. Texas Farmers offers the most affordable homeowners insurance in DeSoto at an average of $250 a year, lower than the city’s overall homeowner premium of $986.

Affordable Homeowners Insurance Companies in DeSoto

Company Average Annual Rate
Texas Farmers $250
ASI Lloyds 1,032
Safeco $1,034
United $1,045
Travelers $1,133

DeSoto Homeowners Insurance Prices by ZIP Code

Depending on which part of DeSoto you live in, you could see a difference in your home insurance’s price. Policies are priced on geographic factors, such as the number of claims made in the surrounding area.

Area code 63020 has the cheapest home insurance rate in DeSoto, with an average price of $843 per year. The table below shows other ZIP codes with affordable homeowners insurance in DeSoto.

Number of Catastrophes in Texas and the US:

  • National number of catastrophes: 19,003
  • Number of catastrophes in Texas: 1,905
  • National number of tornadoes: 1,230
  • Number of tornadoes in Texas: 220
  • National property damage from weather: $5,511,270,000
  • Property damage from weather in Texas: $1,026,150,000

DeSoto sits on the southern side of Tornado Alley. Homes here face a higher-than-average risk of destruction caused by tornadoes and other windstorms. Since this area is heavily populated, there is a very high risk that a tornado that hits nearby will result in collateral damage.

Homeowners insurance will provide coverage for your property from natural disasters such as fires and hurricanes. Check your coverage regularly to ensure that the thresholds and coverage amounts for multiple disasters are sufficient. A change in your house’s valuation, added high-value belongings that you have acquired, and natural disasters that have happened recently are good indicators that you need to have your coverage reviewed to ensure you are sufficiently insured.

DeSoto Homeowners Insurance Rates by Coverage Level

The level of homeowners coverage you prefer affects your insurance rates. DeSoto households with $200K in dwelling coverage pay an average of $1,658 per year, and those with up to $400K of dwelling coverage pay around $2,576 a year.

Homeowners Insurance Rates in DeSoto—Popular Coverage Limits

Coverage Level Average Annual Rate
$100K Dwelling $803
$200K Dwelling $1,658
$250K Dwelling $2,023
$400K Dwelling $2,576

What Does DeSoto Homeowners Insurance Cover?

Buying homeowners insurance doesn’t have to be complicated and frustrating. Here are some details on the type of insurance coverages available and what they are for:

  • Dwelling Coverage: This is your standard insurance policy covering losses and damages to your property’s physical structure.
  • Personal Property Coverage: You may want personal property coverage for your possessions, whether inside or outside your home.
  • Liability Protection: Liability protection covers you if you hurt someone or damage another person’s property.
  • Guest Medical Protection: This coverage is specifically to cover people who are injured on your property.

DeSoto Homeowners Insurance Rates by Deductible Amount

A homeowners insurance deductible is the amount the insured has to pay when filing for a claim. If you opt for a higher deductible amount, you will pay lower insurance premiums. However, make sure that you can afford the deductible you choose if you have to file for loss.

Below are the typical deductibles provided by most home insurance providers and the average insurance rates.

Homeowners Insurance Costs by Deductible in DeSoto

Deductible Amount Average Annual Homeowners Insurance Rate
$500 $1,443
$1,000 $1,243
$1,500 $1,045
$2,000 $843
$5,000 $643

Best Homeowners Insurance Companies in DeSoto

Price is always a factor to consider when you’re shopping for homeowners insurance. The insurer’s financial stability is also a critical consideration because it demonstrates its potential to handle claims. Always review the J.D. Power Ranking, AM Best Financial Rating, and Better Business Bureau’s Rating for home insurance.

Company J.D. Power Ranking A.M. Best Rating BBB Rating
Allstate 5 out of 5 stars A+ (Superior) A+
Amica 5 out of 5 stars* A++ (Superior) B-
Liberty Mutual 3 out of 5 stars Not rated A
State Farm 3 out of 5 stars A++ (Superior) A++
Texas Farm Bureau Insurance 3 out of 5 stars A+ (Superior) A

Top Home Insurance Agents Near DeSoto, TX

Home Insurance Company Near DeSoto, TX Address
David Ungerank: Allstate Insurance 2104 Rock Rd, De Soto, MO 63020, United States
Farmers Insurance 108 Easton St, De Soto, MO 63020, United States
Shelter Insurance 206 Main St, De Soto, MO 63020, United States
Farmers Insurance – Mark Solomon 412 N Main St, De Soto, MO 63020, United States
Ernie Weiler – Missouri Farm Bureau Insurance 24 Jefferson Square #24, De Soto, MO 63020, United States

Bundle Homeowners and Auto Insurance in DeSoto, TX to Save Money

You might want to consider buying your homeowner and auto insurance plans from the same company if saving money is one of your priorities. Bundling policies in DeSoto can result in an annual savings of 7%.

Cheapest Auto Insurance Rates With Home Insurance Bundled in DeSoto

Company Avg. Annual Auto Insurance Rate (With Home Insurance Bundle)
State Farm $1,040
USAA $1,330
Progressive $1,800
Allstate $1,890
GEICO $2,320

Home Insurance Resources for DeSoto Residents

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Desoto, TX Homeowners Insurance FAQs

  • If you are insured, any big repair or restoration following a catastrophe may possibly be covered by your insurance policy up to the limits you have set.
  • When you borrow money on your mortgage and your house is completely destroyed, you would also have to pay for your home loan unless you have sufficient homeowners’ insurance. Homeowners’ policies help pay for the cost of reconstruction.

Your insurance premiums are not tax deductible, except under exceptional situations. You do earn some tax incentives as a homeowner, although these are not related to homeowner insurance.

If you are a landlord or a homeowner who uses half of your house for commercial purposes, you may be entitled to deduct part of your homeowner’s insurance. 

It varies depending on the homeowner and the valuation of the house. The good news is that you’re not normally the one who has to answer this question. Your mortgage lender will expect you to have a certain amount of coverage for your house, and your insurance broker will know how to create a policy that makes sense for your house.

At a minimum, though, the insurance should be sufficient to cover the total cost of rebuilding your home in the event of a total loss.

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