Home Insurance in Waco, TX

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Protect Your Investment with Home Insurance in Waco TX

Waco is in Central Texas, and with a population of 120,000, it is one of the major cities in the State. Agriculture is important to the region because of the fertile soils, but today Waco is more of a commercial hub.

Waco is not divided into official neighborhoods, but residents have given different names to specific areas on a casual basis. Some of the best areas to live include West Waco, Castle Heights, and Brookview on the North Side, as well as Downtown.

On average, real estate prices in Waco are 31% lower than the national average – offering residents an affordable cost of living. Regardless of how much you spend on your home, it probably represents one of the largest investments of your life. Therefore, it is important to protect it with home insurance in Waco TX.

Severe Weather Risk in Waco

Home insurance in Waco TX can protect you against damage to your home due to severe weather. Waco has a humid subtropical climate. Winters are generally mild, snowfall usually insignificant. However, freezing rain is common and can cause branches to fall off trees. If the fallen limbs impact the roof, it could cause significant damage to your home.

The wettest months of the year in Waco are April and May. These are also the months when severe thunderstorms and tornadoes are most likely to occur. One of the deadliest tornadoes ever recorded in the state of Texas occurred in Waco on the afternoon of May 11, 1953. The F4 tornado was one-third of a mile wide and traveled a total of 20 miles after touching down. In its wake, it left:

  • 519 destroyed homes
  • 597 injuries
  • 114 deaths

However, Texas tornadoes do not only happen in the spring. In September 1967, there were 124 tornadoes in Texas, the most to occur in the state during a single month.

Today, tornado activity in Waco is 88% higher than the national average and slightly above the state average for Texas. Home insurance in Waco TX cannot prevent a tornado from impacting your home, but it can cover you for the damages that result.

Property Crimes in Waco

Severe weather is a natural act over which no one has any control. Property crimes are deliberate acts by others that deprive you of your property or affect your ability to use it. Home insurance in Waco TX can protect you against both natural threats to your property and those posed by the criminal element.

Property crimes include acts such as vandalism, burglary, theft, and arson. Overall, the rate of property crimes in Waco is 56% higher than the national average. It is also higher than the statewide average for Texas. When it comes to specific property crimes, arson was down in 2019 but was much higher than the state average from 2011 to 2015. The rates of burglary and theft in Waco are consistently much higher than the national average.

Options for Home Insurance in Waco TX

Unlike car insurance, home insurance is not required by law. However, many lenders require it as a condition of taking out a mortgage. Options for home insurance in Waco TX include the following:

  • Named Perils: This is a basic policy that protects you against perils specifically named in the policy
  • Comprehensive: The most expensive but also the most extensive, protecting you from most losses
  • Broad: More extensive than named perils coverage but more affordable than comprehensive coverage, this policy represents a good middle ground

This information is intended for general informational purposes only and is not intended to constitute legal advice.