Best Home Insurance in San Antonio, TX

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Contributor, Benzinga
March 30, 2020

San Antonio, Texas, is a city rich with history and culture. Known for the River Walk to the Alamo, San Antonio has more to offer than just tourism — including a lower cost of living than other Texas cities like Dallas and Houston.

If San Antonio is where you hang your hat, you need home insurance designed to protect against losses probable in the city. Check out Benzinga’s guide to the best homeowners insurance in San Antonio as you start to compare providers.

Best Home Insurance Providers in San Antonio, TX:

Best Home Insurance Providers in San Antonio, TX

Every city or region faces different weather-related property losses, and San Antonio is no exception. Wind, hail and other severe storm damage can occur, and flooding is also common in San Antonio.

Keep the city’s geographic risks in mind as you take a look at our top picks for home insurance providers in San Antonio.

State Farm
Best For
  • Customers who have existing policies with State Farm

1. Best Overall in San Antonio: State Farm

State Farm builds inclusive homeowner insurance policies, so you don’t need to worry about a bunch of add-ons to get comprehensive coverage. In addition to solid coverage, State Farm offers several ways to save with discounts for bundling policies, installing security devices and using impact-resistant roofing products. 

State Farm is the largest home insurer in the U.S. and boasts an extensive network of agents and easy-to-use online resources and tools. The company has built a reputation outside the bells and whistles of some of the newer, online home insurance providers — it simply strikes a balance between affordable rates and consistent, reliable service and products.

Best For
  • Low Deductible

2. Cheapest Home Insurance in San Antonio: Mercury Insurance

Mercury Insurance can likely offer you cheap home insurance premiums in San Antonio. When you bundle your home and auto policies you can save up to 15%. 

You’ll work with a Mercury agent to customize your coverage. Protection options include your dwelling, personal property, additional living expenses, personal liability, guest medical and identity theft. You can also add extended replacement cost for up to 150% of your dwelling’s policy limits to rebuild your home after a covered loss.

File a claim 24/7 by calling the company’s hotline at 800-503-3724. Visit Mercury online to search for an agent in your neighborhood.

Best For
  • No Recent Claims

3. Best for New Homeowners: Allstate

Allstate has a comprehensive set of online educational tools, making it a solid choice for new homeowners. And Allstate brings a wide array of coverage options to you like water backup, electronic data recovery, sports equipment and even musical instruments.

Start with a 20% savings when you switch to the company with no recent property claims on your record. You could also save up to 25% when you bundle home and auto policies.

On top of that, Allstate rolls out additional discounts for recent homebuyers and those who purchase a newly-constructed home.

USAA Home Insurance
Best For
  • Members of the armed forces and their families

4. Best for Veterans: USAA

Military servicemembers and relatives may be eligible for homeowners insurance through USAA. Founded in the 1920s, the company now boasts more than 12 million members, and its homeowners insurance covers fire, theft, vandalism, most weather-related events, liability and identity theft. 

You’ll see savings if you bundle homeowners and auto policies, go claims-free for 5 years, choose a higher deductible or take the time to install security systems. 

Amica Mutual
Best For
  • First time policyholders

5. Best for Customer Service: Amica Mutual

Amica Mutual was awarded all 5 power circles by J.D. Power — the nation’s go-to for consumer opinion surrounding a brand’s value and service. Agent service and a simple, speedy claims process add up to 100% customer satisfaction.

Amica offers standard home insurance coverage and extended coverages such as dwelling replacement, home business coverage and even identity theft loss coverage. The company’s catastrophic loss add-on will cover your property damage in the event of a flood or earthquake.

The company’s Platinum Choice® Home lets you live big with top-of-the-line protection including coverage for water backup and sump pump overflow, computers, credit card theft and more. 

You can manage your account online 24/7 or speak with an Amica representative. All policies are sold directly through Amica corporate — not agents.

Average Annual Home Insurance Premium in San Antonio, TX

Your premium will always depend on a number of personal factors, including the value and location of your home. San Antonio’s average premium falls around $2,000, but that’s because the city’s median home price is $176,000 — 29% below the nation’s average. 

Here’s an example to show you how your home’s value will determine your premium. If you have $200,000 in coverage with your homeowners policy, your premium will likely be at least $2,500 annually. Meanwhile, $400,000 in coverage will add up to $4,000 or more annually.

Rates and coverages always vary — it’s best to seek quotes based on your home.

What Does Homeowners Insurance Cover?

Basic homeowners insurance covers your financial loss due to weather or catastrophes. Weather-related losses include events like lightning or hail, while catastrophes are events such as explosions or fire. The 2 most basic forms of coverage are replacement cost and actual cash value (ACV). 

Replacement cost coverage includes the replacement or repair property. If your roof is damaged in a hail storm, for example, your claims payment will be for the full replacement cost to repair your roof. Age and condition of your roof don’t come into play when determining payment.

ACV coverage is based on the age, life expectancy and pre-loss condition of your property. This time if your roof is damaged by a hail storm and determined a total loss, age and condition of the roof will matter.

Let’s say your roof is 10 years old and the shingles have a normal life expectancy of 20 years. Because 10 of the 25 years of your roof’s useful life has gone by, the claims payment will be reduced by 40% also. Lesson learned — ACV is the cheapest choice, but you’ll get what you pay for.

When it comes to homeowners insurance, broad form is the best choice — damage is covered unless it is listed as an excluded peril. A peril is simply the cause of damage. A named peril policy covers only the causes of damage listed, so everything else is excluded. 

A standard homeowners insurance policy includes:

  • Dwelling coverage: Standard insurance that covers the physical structure of your property
  • Personal property coverage: Belongings, whether inside or outside of your home
  • Liability protection: Coverage in case someone is injured at your home or you damage someone else’s property
  • Guest medical protection: Specifically covers people injured at your home

Always double-check your policy type and speak with an agent or representative for more detailed information about coverage. 

What Does Homeowners Insurance Not Cover? 

Take note that homeowners insurance policies do not include coverage for flooding, earthquakes, neglect, power failure, war or intentional loss. 

San Antonio is one of the most flood-prone regions in the country. And just 1 inch of water can cause thousands in damage. On top of your standard homeowners policy, plan to look into a separate flood insurance policy. 

Start with the National Flood Insurance Program. You’ll be able to search home insurance San Antonio, TX and find providers to connect you with coverage. Ultimately, you’ll purchase flood insurance through a private company, but all providers simply represent this national program.

Exclusions depend on your specific policy type. Read the fine print of a policy to see whether it includes or excludes certain perils. The best home insurance providers will have a good agent or resentative to help you understand coverage and premiums before you sign the dotted line on your policy.

Protect Your Home in San Antonio 

Picturesque neighborhoods and a low cost of living make San Antonio a beautiful place to call home. Protect the investment with the right homeowners insurance. 

It’s easy to find the right provider — just enter your ZIP code and compare a few personalized quotes today.