New York-based financial education website ValuePenguin has recently released their analysis of renter’s insurance rates in Texas, which averaged rates from more than 200 TX cities. The study found that premiums in Texas (averaging at $451) are higher than in many other states.
Evaluating prices for large rental properties (those with areas of at least 1,000 sq. ft.) with at least $100,000 in coverage from major insurance carriers, the study also uncovered that renter’s insurance in the most expensive TX city is 74 percent higher than premiums in the cheapest locality.
Houston renters pay the highest insurance premiums in the state ($601) due to the city’s proximity to the coast, while Cedar Park, Georgetown, Granbury, New Braunfels, and San Marcos have some of the lowest average annual rates.
Other Texas cities with high renter’s insurance premium averages include Pasadena ($597 per year), Katy ($595 per year), and Friendswood ($582 per year).
