Midland, TX Homeowners Insurance

Midland, dubbed “The Tall City,” is home to everything from former presidents to oil to a thriving arts scene. Located on Interstate 20, halfway between Dallas and El Paso, Midland is the Permian Basin’s commercial headquarters, the country’s largest oil production area. Midland, Texas has a population of 139,000 with a homeownership rate of 65%, which is higher than the national average of 63.9%. Most of the time, Midland’s city is fairly hot and dry, although winter temperatures may occasionally drop below the freezing point. Natural disasters, such as flash floods and tornadoes, periodically threaten the city. If you’re going to invest in this West Texas city, be sure to buy quality homeowners insurance.

Homeowners insurance should be a key consideration for every homeowner in Midland. In addition to personal property, homeowners insurance covers your property in the event of harm, including theft, fire, wind damage, and vandalism. Incidents like these do occur. When coupled with the high cost of repairing or restoring a home, buying homeowners protection can be a smart decision.

How Much Does Homeowners Insurance Cost in Midland?

Homeowners Insurance: Midland Rates Vs. State + National Averages

MidlandAverage (Annual)Texas AverageUnited States Average
$1,206$3,468$1,548

Midland Home Insurance by Company

What you pay for Midland homeowners insurance depends on the insurance company you get your policy from. Texas Farmers offer the cheapest home insurance in Midland, with an average premium of $1,206 per year.

Take a look at the cheapest insurance companies in Midland, Texas to find the right home policy for you.

Cheap Homeowners Insurance Providers in Midland

CompanyAverage Annual Rate
Texas Farmers$170
United$955
ASI Lloyds$1,116
Safeco$1,294
USAA$1,375

Midland Home Insurance Prices by Coverage Amount

The amount of home coverage you prefer affects your insurance premiums. Midland households with $200K in dwelling coverage pay an average of $1,348 a year, and those with coverage up to $400K pay around $2,508 per year.

Homeowners Insurance Rates in Midland—Popular Coverage Limits

Coverage LevelAverage Annual Rate
$100K Dwelling$679
$200K Dwelling$1,348
$250K Dwelling$1,862
$400K Dwelling$2,508

Midland Home Insurance Costs by ZIP Code

Not all areas in Midland will have the same cost of homeowners insurance. The community you live in can significantly affect how much you spend to insure your Midland, TX home. Policies are priced on geographic factors, the number of claims made in the surrounding area, and other location factors. 

West End (79701 ZIP code) has the most affordable homeowners insurance cost, with an average of $993 per year. The table below shows the cheapest places to live in Midland.

Affordable Areas For Homeowners Insurance in Midland
ZIP CodeAverage Annual Home Insurance Rate
79701 (West End)$933
79711 (Central Park)$1,002
79702 (Homestead)$1,009

Other Midland neighborhoods have homeowners insurance rates that are higher than the city average. Property crime levels, fire risk, and even the proximity to emergency facilities (such as fire and police departments) may affect the risk level of some areas of the city, increasing coverage costs. With an annual average premium of $1,109, ZIP code 79708 (Providence Park) is the most expensive in Midland for homeowners coverage.

Expensive Areas for Homeowners Insurance in Midland

ZIP CodeAverage Annual Home Insurance Rate
79708 (Providence Park)$1,109
79707 (Adobe Meadows)$1,092
79705 (Green Acres)$1,087

Midland Home Insurance by Deductible Amount

One of the decisions you need to make when buying homeowners insurance is how much the deductible amount will be. The deductible is what you have to pay as a participation fee when filing for a claim and affects your premium payments.

When choosing a deductible, bear in mind that the larger your deductible, the lower the homeowners insurance rate will be. This suggests that anyone who wants reduced home insurance premiums may consider having a higher deductible. Keep in mind that the deductible should be something you can afford when you file for a claim in the future.

Below are some typical deductibles available on most home insurance plans and the average insurance rates.

Homeowners Insurance Costs by Deductible Amount in Midland
Deductible AmountAverage Annual Home Insurance Rate
$500$1,276
$1,000$1,162
$1,500$1,101
$2,000$1,079
$5,000$1,050

Top Home Insurance Agents Near Midland, TX

Home Insurance Company Near Midland, TXAddress
Nationwide Insurance: Diana Ivonne Dominguez Agency4410 N Midkiff Rd Ste D1F, Midland, TX 79705
Eddy Ohlenburg – State Farm Insurance Agent2302 W Wadley Ave, Midland, TX 79705
Sawyer Insurance – Auto Insurance, Home Insurance, Oil & Gas Insurance2101 W Wadley Ave, Midland, TX 79705
Roy Nelson – State Farm Insurance Agent910 W Wall St, Midland, TX 79701
Albin Insurance & Associates2800 W Front St, Midland, TX 79701

Looking to Save on Home Insurance in Midland? Bundle Plans

You should consider bundling your vehicle and home insurance plans with the same provider if saving money is one of your concerns. Bundling policies in Midland could lead to an average annual savings of 7%.

Cheapest Car Insurance Rates With a Home Insurance Bundle in Midland

CompanyAvg. Annual Auto Insurance Rate (With Bundle)
State Farm$1,171
USAA$1,308
Allstate$1,989
Progressive$2,068
GEICO$2,663

Number of Catastrophes in Texas and the US

  • National number of catastrophes: 19,053
  • Number of catastrophes in Texas: 1,955
  • National number of tornadoes: 1,235
  • Number of tornadoes in Texas: 225
  • National property damage from weather: $5,511,250,000
  • Property damage from weather in Texas: $1,026,150,050

Midland is less vulnerable to the dangers of tornadoes than most of the lone-star state, but tornadoes do happen. However, Midland is vulnerable to floods. Often the arid conditions make it too difficult for the soil to soak up a lot of water, so flash flooding will create havoc in the region.

Theft in Texas

  • National average for burglaries: 37,815
  • Texas number of burglaries: 190,895

Some of the threats to your home and private property do not come from nature. While it is sensible to do everything you can to protect your home from burglaries, it is also a good idea to ensure that you have adequate property insurance in the event of loss or damage.

Some insurance companies offer home policy discounted rates on possessions that owners incorporate to reduce the threat of theft. See how much you can save for your premium costs by implementing a house alarm.

Midland Home Insurance Coverage Options

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.

Best Home Insurance Companies in Midland

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.

CompanyJ.D. Power RankingA.M. Best RatingBBB rating
Allstate5 out of 5 starsA+ (Superior)A+
Amica5 out of 5 stars*A++ (Superior)B-
Liberty Mutual3 out of 5 starsNot ratedA
State Farm3 out of 5 starsA++ (Superior)A++
Texas Farm Bureau Insurance3 out of 5 starsA+ (Superior)A

Homeowners Insurance Resources for Midland Residents

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MIdland, TX Homeowners Insurance FAQs

Homeowners insurance covers the homeowner’s property and belongings. On the other hand, the renters’ insurance only covers the renter’s things. After all, the landlord is responsible for the maintenance of the house, not the renter. 

Renters insurance is recommended but is not required. It can certainly come in handy if you experience theft of your possessions.

In most situations, you will require a home examination before you can obtain homeowners insurance in Midland. The inspection is a way for insurance providers to determine your home’s risks so that they can calculate your premiums.

Before your house is inspected, clear any clutter from your property that gets in the way of a detailed inspection. For example, remove all leaves from your gutters and ensure that these gutters are firmly attached before the inspection.

Homeowners insurance is not necessarily tax-deductible, but there are a few exceptions. For example, if you run a company in your house, you might be able to subtract certain insurance premiums after filing taxes. Similarly, whether you are a homeowner renting a house or a housing unit to a client, you will be entitled to subtract the expenses.

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