Get Fate, TX Home Insurance Rates!
Around 6,357 people are living within the city of Fate and the average family household is around 3 people per home. The total number of homes likely to be insured with a homeowners policy is around 2108 and the total number of occupied households is roughly 1989. Fate homeowners are looking to easily compare insurance rates and coverage options with great prices and coverage that equals protection and peace of mind. At GetHomeInsuranceQuotes.com, we can shop up to 12 rates and coverage options among some of the best insurance providers in your area.
Home Insurance Cost in Fate is a Bargain
Homeowners insurance pricing is very competitive in the city of Fate. We pay an average annual premium of $2,000 while the rest of the country is paying a median price of $1,311. This means that Texas ranks 4 in the country when it comes to the annual cost of paying for a homeowners policy.
| Avg. TX Rate | Discounts | Savings | Shop Rates |
|---|---|---|---|
| $2,000 | up to 40% off | $800 |
Types of Fate Homeowners Coverage
Did you know there are different types of home insurance coverage options? Each one is specifically designed for a certain type of housing. Here is an overview of the common homeowners insurance types that consumers can purchase in Fate.
- HO-3: This is by far the most common homeowners policy available. It will cover all perils, with the exception of certain perils listed on your policy, such as flooding and earthquake damage.
- HO-2: This is a very basic policy. It only covers damage from certain perils that are stated in the policy. If the peril is not listed, it will not be covered. Your personal property is also covered. Most home insurance agents don't recommend these policies except for the most basic coverage needs. An HO-2 policy is usually for homeowners with no mortgage and the current home they are living in is paid in full. Most mortgage providers will not allow homeowners to have an HO-2 policy.
- HO-4: The HO-4 policy is for renters. It will protect all of the personal property in your apartment, up to your policy limits, as well as offering liability coverage. The liability portion of the policy will protect your financial assets if someone is injured in your apartment. It will pay for any medical costs as well as defend you in a lawsuit if you happen to be sued. These polices are very affordable and should definitely be considered if you currently live in an apartment.
The city of Fate has a median household income of $76,765 it is above the national average of $68,703. Housing is another great reason to live in Fate with the average home costing $209,800.
| Demographic | Values |
|---|---|
| Population | 6,357 |
| Total Occupied Households | 1989 |
| Family Households (families) | 1715 |
| Average Owner Occupied Household Size | 3.18 |
| Average Family Size | 3.44 |
| Total Housing Units | 2108 |
Compare Homeowners Insurance Rates in Fate, TX!
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About Our Service in Texas
We are providing the most competitive homeowners insurance rates in Texas. Our quoting process is very quick and easy to use when you want to compare over 16 competitive rates all in one place. Our office is located in the heart of Austin, Texas and we are ready to help you compare the most affordable home insurance options and discounts with the most enhanced coverage options. Our rates will be generated from companies like: American Risk Insurance, Bankers Insurance Group, Centauri, Cypress Texas Insurance, Encompass Insurance, GeoVera Specialty, Gulfstream Property & Casualty, Home Owners of America, Lighthouse Property Insurance, Mission Select, TWICO, Universal North America (UIHNA), United property and casualty, Wellington, American Modern, Safeco and many more. Let us help you shop the lowest Texas rates available, start your quote online now or give us a call at 877-480-7274. We look forward to working with you!
Average Rates Nearby Fate
Are you looking for homeowners insurance in a city near Fate? Review coverage options and average rates in your area by clicking your city below. We can help you shop home insurance rates!
Home Insurance Rates by Zipcode in Fate, TX
Easily review average rates and get multiple homeowners insurance quotes by clicking your zip code below located in Fate.
Fate, TX Home Insurance Average Premiums
$1214 /yr.
For the city of Fate, homeowners insurance rates may vary on deductible, coverage amount and property details. Below is a list of the averages based on the cost of an annual home insurance premium.
| Coverage Amount: | Annual Premium |
|---|---|
| 1800 sq. ft. or below (discounts applied) | $1214 /yr. |
| Average Coverage: | $1464 /yr. |
| 2600 sq. ft. or higher (all discounts applied) | $1764 /yr. |
What is the average home insurance cost for a home in Fate, TX?
- • The average homeowners insurance premium paid annually for a home in Fate is around $1464 per year.
What does it cost on average per month for home insurance in Fate, TX?
- • Homeowners in Fate pay an average cost per month around $122.00 for insurance coverage.
Fate, TX - 2023 Housing Information
| Month | Current Home Value (2023) | Last Year Home Value (2022) |
|---|---|---|
| January | $381,926 | $350,762 |
| February | $379,905 | $358,846 |
| March | $379,168 | $367,198 |
| April | $378,793 | $374,691 |
Homeowners insurance will help cover the cost to repair or replace your Fate home if it is damaged or destroyed by a covered peril, up to your coverage limits. A homeowners policy is made up of a few different coverages. Here are the most common coverages:
- Dwelling: This coverage will pay to repair or replace the structure of your home if it is damaged or destroyed. Review and Calculate Replacement Cost Coverage in Fate
- Liability: This coverage will help cover medical and legal bills if someone is injured in your home, slipping on an icy sidewalk for example. It also offers protection if you damage another person’s property, your child hitting a baseball through a neighbor’s window for example.
- Contents: This covers the cost to replace your personal possessions that are destroyed by a covered peril. Furniture, electronics, clothing and household goods are excellent examples. Contents coverage is often capped at 50% to 70% of your dwelling coverage.
- Other Structures: This coverage protects other structures on your property such as detached garages, outbuildings, barns, and sheds.
- Loss of use: This covers everyday costs that you incur if you cannot live in your home while it is being repaired due to a claim. It will pay hotel and restaurant bills and even the cost of dry cleaning.
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Saving Money Tips on Fate Home Insurance
A great way to save money on Fate homeowners insurance is to make sure you are getting all the discounts you are qualified to receive. Here are just a few of the most common discount’s insurers offer:
- Bundling: If you purchase your home and auto (or any other insurance coverage) from the same insurer, you should get a bundling discount. Expect to save 20%-25%.
- Secure your home: Adding a monitored security system, water leak sensors, deadbolts, and smoke detectors should result in a discount.
- Impact resistant roof: If you are replacing your roof, consider impact resistant roofing materials which help prevent hail and impact damage as well as resulting in a significant discount.
- Stay claim free: If you have been claim free for a number of years (five is a common requirement) your insurer should offer a claim free discount.
Are you shopping for the best rate near or wihin the Fate area? Check out what homeowners are paying on average for Texas homeowners insurance.
Elevation Review for Coastal Wind or Flooding Risk
| Elevation | Details | Homeowners Tips |
|---|---|---|
| 586 ft. | This is the average home elevation in Fate, TX | Did you know that the elevation in which your home resides is crucial to a home insurance policy because it determines the risk factor related to your home being in a flood zone. It is important to understand that your home is not covered for floods under a standard homeowners policy. You will need to speak with a local Texas flood insurance agent about a flood insurance policy, please give us a call now at 888-620-1954. |
To get online quotes on your home and compare rates on home insurance premiums in Fate, enter your zip code above and easily complete our online quoting application. Remember, it's important to speak with us about additional home insurance discounts so you can get the best rate for your home in Rockwall County.
Texas Homeowners Insurance News & Information
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Homeowners in Texas are Seeing Home Insurance Rates Increase Posted on Wednesday 7th August, 2024
Homeowners in Texas are feeling the squeeze as homeowner insurance rates continue to climb. In a recent NBC 5 Investigates article, they looked at just how dramatic recent rate increases have been across Texas. Melinda Clifton has seen destructive weather cause hail damage to her roof three times in the last twenty years according to […]
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Coastal Texas Home Insurance Rates Posted on Sunday 7th July, 2024
While windstorm insurance is not required in Texas, it is often a necessity if you live near the coast. In certain areas there is a good chance that your mortgage lender will require that you carry a windstorm policy. A windstorm policy will cover damage that is done by wind or hail. These are the […]
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Texas is Seeing Major Increases in the Cost of Homeowners Insurance Posted on Tuesday 7th May, 2024
Like much of the rest of the country, Texas is seeing major increases in the cost of homeowners insurance. According to an article in Austin American-Stateman, residents of Texas have seen their insurance rates go up 50.9% on average which is the largest increase in the country for that time period. Unfortunately, experts are predicting […]
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2024 Average Homeowners Insurance Rate at $2,777 per year Posted on Tuesday 20th February, 2024
A recent report by Insurance.com, found that the average homeowners insurance rate in the U.S. came in at $2,777 per year which breaks down to $231 a month. The average was based on coverage levels of $300,000 in dwelling and liability and a $1,000 deductible. When Insurance.com ran the numbers, Oklahoma was the most expensive […]
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9% Predicted Jump in Home Insurance Rates in 2023 Posted on Tuesday 25th April, 2023
According to a new report by online marketplace Insurify, average homeowner insurance premiums are headed up again in 2023. The report predicts that the average cost of homeowners insurance could jump up 9% which translates into about $150 increase for most homeowners. The pain will not be distributed equally, homeowners in some states will see […]
Fate, TX Dwelling Coverage Estimate
It is important to calculate your dwelling coverage for your home in Fate so you know what type of homeowners insurance coverage you need to cover your replacement cost. It is recommended to have enough dwelling coverage to rebuild your home if it was destroyed by a covered peril.
Please remember that replacement cost coverage does not include the cost of the land, only the price to rebuild your home, which is why we like to help customers by answering a few questions that you may have.
What is the average replacement cost coverage in Fate, TX?
- The average square footage in Fate is around 1,626 Sq. Ft. which would cost you around $209,800 to replace the home if you base the home on the price to build per square foot of $129.
Minimum Replacement Cost Total: $209,800
Location: Fate, Texas (Rockwall County)
Average Building Cost Per Square Foot in Fate: $129 (low end)
Average Square Footage in Fate: 1,626 Sq. Ft.
| Home Improvement Status | Price per Sq. Ft. | Dwelling Coverage |
|---|---|---|
| None or Very Minor Improvements | $129 | $209,800 |
| Some Additional Upgrades | $161 | $262,250 |
| Major Home Updates or Advancements | $194 | $314,700 |
The dwelling coverage is calculated by the average cost per square foot ($129) in Fate, Texas times your heated square footage. Which would equal the cost to rebuild your home minus the cost of the property or land. Some homes will have a higher replacement cost due to home improvements like updated kitchens and bathrooms. Other upgrades may include: granite countertops, hardwood floors and stainless steel appliances. The national square foot average to build a brand new home is around 2500 square feet. So if you are looking to build, and your square footage of your new home is 2500, you are looking at a dwelling coverage premium of around $403,125 (Media price to build of $161 x 2500 sq. ft.) to cover the cost to rebuild your new home.
What is the difference between actual cash value and replacement cost value?
Homeowners insurance is available in both actual cash value (ACV) and replacement cost value (RCV). Knowing the difference is important:
Actual cash value: When valuing your personal possessions, an actual cash value policy will take depreciation into account. This means that your 10-year-old TV will be basically worthless according to your insurance company. While an ACV policy tends to be cheaper, if you have to make a claim you may be disappointed in your claim payout.
Replacement cost value: A RCV policy will replace your possessions with brand new items of similar quality regardless of how old they were at the time they were destroyed. While RCV policies are slightly more expensive, they are well worth the cost if you have to make a claim.