Austin’s boom has led to a few big-city challenges, pushing residents to search farther south for a smaller and more accessible city. San Marcos is one of those cities. San Marcos has everything you can find in Austin in a less crowded environment. Texas State University is an emerging public university with a catalog of more than 180 bachelor’s and master’s degree programs. The city plans to expand wisely to ensure that traffic stays going and places remain accessible.
The rate of homeownership in San Marcos, TX is 27.6 %, smaller than the national average of 63.9%.
If you are one of the homeowners in the Greater San Marcos area, it is essential to cover your property with sufficient insurance. Homeowners insurance is required by lenders and covers the home and other assets in the event of nature, burglary, and traumatic incidents. Given the region’s unusual threats, getting a decent homeowner insurance policy with a trustworthy company is essential.
|San Marcos Average (Annual)||Texas Average||United States Average|
Given the importance and high cost of homeowners insurance in San Marcos, it is important to know which companies provide the best homeowners insurance coverage at competitive rates in the area. Some of San Marcos’s cheapest home insurance providers are listed below, with Texas Farmers providing the most affordable premium at an average of $360 per year.
|Company||Average Annual Rate|
Your homeowners insurance premiums are primarily based on your property’s ZIP code. Several factors cause rate differences among ZIP codes, such as the frequency of lawsuits in the area and how vulnerable it is to property-related offenses such as burglary and larceny.
The 78656 ZIP code, located in Maxwell, has the cheapest average homeowners insurance premium in San Marcos at $958 per year. The 78667 ZIP code, located in Heritage, has the highest average annual premium of $2,004.
|ZIP Code||Average Annual Home Insurance Premium|
Your chosen amount of homeowners insurance coverage affects the premiums you pay. In San Marcos, carrying a $100K of dwelling coverage costs an average of $870 per year, while $400K of dwelling coverage costs $2,750 per year.
|Coverage Level||Average Annual Rate|
Buying homeowners insurance does not need to be overwhelming and stressful. Typical coverage options offered in San Marcos are explained below.
One important consideration when selecting a homeowners insurance plan is the level of the deductible. The deductible is the amount that the homeowner is liable to pay before the insurance provider begins covering expenses. The deductible impacts the cost of insurance premiums; generally, the smaller the deductible, the higher the premiums.
The following table provides the average insurance rates in San Marcos at different deductible levels.
|Deductible Level||Average Annual Homeowners Insurance Rate|
Purchasing your car and homeowners insurance plans from the same company can minimize your total insurance premium costs. Bundling car and homeowners insurance policies in San Marcos results to an average annual savings of 7% compared to purchasing them separately.
|Company||Avg. Annual Auto Insurance Rate (With Bundle)|
Your insurance provider’s financial stability is a critical consideration because it indicates the company’s ability to handle claims. Always review the AM Best Financial Rating, Better Business Bureau Rating, and JD Power Rankings for homeowners insurance.
|Company||A.M. Best Rating||BBB Rating||J.D. Power Ranking|
|Allstate||A+ (Superior)||A+||5 out of 5 stars|
|Amica||A++ (Superior)||B-||5 out of 5 stars*|
|Liberty Mutual||A+ (Superior)||A||3 out of 5 stars|
|State Farm||A++ (Superior)||A++||3 out of 5 stars|
|Texas Farm Bureau Insurance||A+ (Superior)||A||3 out of 5 stars|
|Home Insurance Company San Marcos, TX||Address|
|Ryan Powell – State Farm Insurance Agent||1205 TX-123 #301, San Marcos, TX 78666|
|Jo Stephens – State Farm Insurance Agent||1540 S Interstate 35 Ste 101, San Marcos|
|Glenn Wier – State Farm Insurance Agent||2575 N Interstate 35 Frontage Rd Suite 101, San Marcos, TX 78666|
|Integrity Insurance Solutions||111C E McCarty Ln, San Marcos, TX 78666|
|Texas Farm Bureau Insurance||102 Whitetail Dr # 100, San Marcos, TX 78666|
Especially since Hurricane Harvey in 2017, summer and fall have become stressful for many San Marcos property owners. In preparation for the storm season, many homeowners retrofit and fortify their homes or adjust their insurance policies to ensure they are sufficiently covered.
If you own a San Marcos property, seek expanded homeowners insurance coverage and a robust flood insurance policy before the next tropical storm season.
Wind and hail deductibles
Although homeowners insurance covers damage incurred from tornadoes and hurricanes, exposure to wind and hail is usually excluded from coverage unless specifically added to the insurance plan. Insurance companies offer various deductible amount options for this. Your plan will include lower additional premiums for wind and hail coverage if you choose a higher deductible option.
San Marcos has one of the highest property crime rates in the United States: approximately one in 24 San Marcos residents has been a victim of a property crime.
Insurance companies offer various levels of coverage for property damage or loss due to vandalism or theft. It is a good idea to identify your most valuable possessions and your belongings’ total value to choose the level of coverage appropriate for you.
If you find that your possessions’ value exceeds your insurance cap, you may want to consider increasing your coverage. Purchasing a comprehensive plan may be advantageous as it will cover maximum repair costs for missing or damaged items.
Basic home insurance policies will cover any damage to the roof caused by hail. However, if hail creates a leak that allows precipitation into your home, you may need a flood insurance plan to pay for the water damage.
Because San Marcos is vulnerable to natural disasters such as tornadoes and hurricanes, it is more expensive to insure San Marcos properties. Factors such as your neighborhood and credit score can also contribute to high monthly premiums.
Even if your property is not flood-prone, flood insurance may be a good idea because it covers more than just damage caused by floods. If you end up suffering from any form of water damage, a flood insurance policy will be worth it.
San Marcos is becoming an increasingly popular place to live, and it’s not difficult to see why. While the city’s affordability doesn’t extend to its insurance premiums, you don’t have to pay an arm and a leg to protect your property. With a little research, you can compare the best homeowners policies and select the best one for you. Check the Insurance Online comparison tool to get quotes from the best homeowners insurance providers.