Odessa is known for its cowboy culture and is home to the largest single oil and gas deposit in the United States. But as with most cities in Texas, Odessa homeowners insurance rates are relatively expensive compared to the national average, but there are plenty of affordable coverage options for area residents.
The average cost of homeowners insurance in Odessa is $3,375 per year or $281 a month. This is around 9% higher than the statewide average of $3,080 per year, and about 44% higher than the national average of $1,899.
However, the cost isn’t the only factor to consider when choosing a home insurance company. Not sure what to look for? Policygenius can help you figure out your coverage needs and compare quotes from multiple top companies in Odessa.
Methodology & why you can trust our rates
Policygenius has analyzed home insurance rates provided by Quadrant Information Services in March 2022 for ZIP codes in all 50 states plus Washington, D.C., for a 40-year-old female homeowner with no claim history, good credit, a $1,000 deductible, and the following coverage limits:
Dwelling: $300,000
Other structures: $30,000
Personal property: $150,000
Loss of use: $60,000
Liability: $300,000
Medical: $1,000
All rates based on the above coverage limits except where otherwise noted.
Some carriers may be represented by affiliates or subsidiaries. Rates provided are a sample of costs. Your actual quotes may differ.
Best homeowners insurance companies in Odessa
Of the companies we evaluated, Farmers has the lowest rate, with an average annual policy cost of $586 per year — almost $2,500 less than the state average. Texas Farm Bureau has the next lowest average rate at $691 per year and offers customers reliable customer service with many local agents throughout the state.
Policygenius analyzed thousands of quotes from the 5 largest Odessa insurers to find the average cost of homeowners insurance with each company in 2022. We then looked at 2021 J.D. Power customer satisfaction scores and compared that with the coverage needs of Odessa residents to find the best homeowners insurance in Odessa.
Company | Average yearly cost | J.D. Power Rating |
|---|---|---|
State Farm | $4,458 | 835 |
USAA | $2,339 | 882 |
Farmers | $586 | 813 |
Nationwide | $4,127 | 812 |
Texas Farm Bureau Insurance | $691 | -- |
There's a reason State Farm is one of the top-rated insurance companies in the U.S. — its customer satisfaction ratings are through the roof, it offers a slew of coverage add-ons for full protection, and makes filing claims through its mobile app a breeze.
Pros
Top-tier coverage add-ons, including equipment breakdown, water backup, and service line coverage
Get up to $1 million in personal liability coverage
Score discounts for bundling, installing security devices, and choosing a high deductible
File and track claims online, over the phone, in person, or through its mobile app
High customer satisfaction and financial strength ratings
Cons
No discounts for first-time homebuyers or going a year without a claim
Read our full State Farm home insurance review
Why State Farm tops our best list
State Farm has an excellent rating with J.D. Power and flexible policy options for various coverage and budget needs, making State Farm a great all-around insurance option in Odessa. One potential reason for State Farm’s high J.D. Power ratings is how easy they make it to manage and use your policy. Customers can easily file claims online, through State Farm’s signature app, or by calling and speaking with an agent directly. It also offers a complete line of insurance options, including several coverage add-ons like water backup and equipment breakdown.
How to get a quote
Online through State Farm
Why USAA tops our best list
It’s no surprise that USAA is the number one choice for military service members and their families. USAA customers can score discounts for zero claims and opting for e-billing, and its base policy includes coverages that typically cost extra with other companies. Along with its multiple savings and coverage options, USAA also has some of the highest customer service and claims satisfaction ratings with J.D. Power.
How to get a quote
Online through USAA
Farmers is one of the largest and most reputable home insurance providers in the industry, offering special discounts for teachers, nurses, first responders, and non-smokers — plus the option to rebuild your home with green materials after a claim.
Pros
Several discounts and unique ways to save, including claim forgiveness and declining deductibles
3 flexible coverage packages with varying levels of protection for most coverage and budget needs
Offers extended and guaranteed replacement cost coverage options
File claims online, via text, on its mobile app, or by calling its claims center
Cons
Rates are typically more expensive
Below-average customer satisfaction ratings
No repair network to help you find a certified contractor or repair professional after filing a claim
Read our full Farmers home insurance review here
Why Farmers tops our best list
Farmers may be one of the largest insurance companies in the country, but it hasn’t forgotten about those who serve our neighborhoods and local communities. Farmers offers special rates to teachers, firefighters, and various affinity groups. You can also qualify for discounts by living in a smoke-free home, going a certain number of years without filing a claim, or choosing e-billing. In addition to saving opportunities, Farmers also offers unique coverage options, including an add-on that gives you the option to use green materials to rebuild your home after a loss.
How to get a quote
Online through Farmers
Nationwide offers flexible home insurance policy options for every home type and income level. And we love its slew of discounts for everything from having a newish roof to living in a gated community.
Pros
Offers lots of coverage add-ons, including flood and earthquake insurance
Option to rebuild roof with stronger, safer materials after a covered loss
Score discounts for living in a gated community, making home renovations, having a newer roof, and more
Seamlessly submit claims online or through its mobile app
Above-average claims satisfaction rating
Cons
Below-average customer satisfaction ratings
Water backup coverage is more expensive than with other insurers
Read our full Nationwide home insurance review here
Why Nationwide tops our best list
Nationwide combines a high customer satisfaction rating with J.D. Power with industry best coverage add-ons, including flood insurance and earthquake coverage. Nationwide also offers numerous discount options, including discounts for living in a gated community or having a newer roof. Additionally, Nationwide provides a hassle-free customer experience — you can easily submit claims online or through its mobile app.
How to get a quote
Online through Policygenius or Nationwide
On top of its stellar customer satisfaction ratings, Texas Farm Bureau Insurance offers everything from home, auto, and life insurance to ranch, farm, and commercial coverage — allowing you to keep all of your policies under one roof.
Pros
Offers home, farm, ranch, commercial, life, and auto insurance — letting you keep all of your policies with one company
High customer satisfaction ratings for 10 years running
File claims online — with 24/7 customer support
Cons
Farm Bureau membership required for coverage
Minimal information about coverages and discounts available online
Why Texas Farm Bureau Insurance tops our best list
Texas Farm Bureau Insurance offers a complete line of insurance products from auto, commercial, home, and others allowing you to carry all of your policies under one roof. With its local agents and offices, Texas Farm Bureau offers great rates for those looking for personable service and affordable rates.
How to get a quote
Online through Texas Farm Bureau
Cheapest homeowners insurance companies by ZIP code in Odessa
Looking at average home insurance costs for 15 of the most popular companies in Fort Worth, we found that the cheapest home insurance in Odessa can be found in the 79766 ZIP code section of Ector County. The average Farmers home insurance quote in this ZIP is $441 per year — about $2,900 less per year than the city average.
ZIP code | Company | Average yearly cost |
|---|---|---|
79761 | Farmers | $625 |
79762 | State Auto | $632 |
79763 | Farmers | $606 |
79764 | Farmers | $582 |
79765 | State Auto | $577 |
79766 | Farmers | $441 |
The most affordable areas for homeowners insurance in Odessa
Home insurance rates are essentially the same throughout Odessa, with no areas of town paying more or less for home insurance. By shopping around for home insurance quotes, homeowners can be sure they are getting the best coverage at the best possible price.
ZIP code | Average yearly cost |
|---|---|
79765 | $3,340 |
79764 | $3,341 |
79763 | $3,349 |
79766 | $3,354 |
79762 | $3,434 |
The most expensive areas for homeowners insurance in Odessa
Many homes in the Odessa area are affected by the unpredictable Texas weather and should have enough home insurance to protect their homes and investments if severe weather occurs. By shopping around for home insurance quotes, homeowners can be sure they are getting the best coverage at the best possible price.
ZIP code | Average yearly cost |
|---|---|
79761 | $3,434 |
79762 | $3,434 |
79766 | $3,354 |
79763 | $3,349 |
79764 | $3,341 |
Shopping for homeowners insurance in Odessa
Shopping for home insurance in Odessa is necessary to be sure you are protected if disaster strikes. So you’ll want to find the best coverage at a price that works for you.
In this section, we break down the average annual home insurance rates in Odessa for different coverage and deductible levels, as well as the cheapest and most expensive home insurance companies in the state for individuals with a poor credit score, dog owners, and pool owners.
Once you’re ready to shop, a Policygenius expert can help you navigate your coverage needs and help you find the best deal on homeowners insurance in Odessa.
Odessa home insurance costs by coverage amounts
Dwelling coverage is that part of your home insurance policy that pays to rebuild your home from the ground up after a covered loss. With construction materials and labor costs so expensive, you’ll want to ensure you’ve purchased enough coverage to protect your home after a covered loss.
In Odessa, the average annual home insurance rate for a home with $500,000 in dwelling coverage is $5,344, around $2,000 more than the city average.
Dwelling coverage amount | Average yearly cost |
|---|---|
$100,000 | $1,540 |
$200,000 | $2,429 |
$300,000 | $3,375 |
$400,000 | $4,346 |
$500,000 | $5,344 |
Personal liability coverage is the section of your homeowners insurance that pays for legal or medical bills if someone is injured or their property is damaged and you’re found legally responsible. In other words, if a visitor is injured at your home and requires surgery or other medical attention, liability coverage may cover the costs.
Liability coverage amount | Average yearly cost |
|---|---|
$100,000 | $3,435 |
$200,000 | $3,383 |
$300,000 | $3,375 |
$400,000 | $4,595 |
$500,000 | $3,016 |
Odessa home insurance costs by deductible amount
Your deductible is the amount you’re responsible for paying upfront on a claim before your insurance coverage kicks in after a covered loss. If you’ve been affected by the weather extremes in Texas over the last several years including the deep freeze and several tropical storms, you might want to consider a smaller deductible if you’ve filed multiple claims.
Deductible amount | Average yearly cost |
|---|---|
$500 | $3,916 |
$1,000 | $3,499 |
$2,000 | $3,847 |
Home insurance discounts in Odessa
While you won’t get a huge discount if your house has one of the following features and nothing else, they can add up if you have several protective devices in your home. Here is the average annual rate and average discount percentage for homes in Odessa with deadbolts, smoke alarms, or burglar alarms.
Discount | Average yearly cost |
|---|---|
Dead bolt | $3,353 |
Smoke alarm | $3,366 |
Burglar alarm | $3,278 |
Home insurance companies in Odessa for dog owners
Known as man’s best friend, dogs are an important part of many households in Odessa. However, if your dog is considered an aggressive or dangerous breed, insurance companies may charge you higher home insurance rates or deny you coverage outright.
With an average rate of $586 per year, Farmers has the cheapest home insurance rates in Odessa for a home with a dangerous dog breed, while State Farm’s average yearly premium of $4,458 is the highest.
Company | Average yearly cost |
|---|---|
Farmers | $586 |
Texas Farm Bureau Insurance | $691 |
USAA | $2,339 |
Nationwide | $4,127 |
State Farm | $4,458 |
Home insurance companies in Odessa for poor credit
Bad credit is often bad news for those wanting to purchase home insurance. In some states, a bad credit score can increase your auto and home insurance rates by thousands of dollars.
With an average rate of $1,015 per year, Texas Farm Bureau has the cheapest home insurance rates in Odessa for a homeowner with poor credit, while State Farm’s average yearly premium of $7,661 is the highest.
Company | Average yearly cost |
|---|---|
Texas Farm Bureau Insurance | $1,015 |
Farmers | $1,233 |
USAA | $2,930 |
Nationwide | $5,052 |
State Farm | $7,661 |
Home insurance companies in Odessa for pool owners
Home insurance companies consider swimming pools to be a liability risk and will often charge more for coverage if your house has one. If you do have a pool to help you cool off during the hot months of summer, you might want to increase the amount of liability coverage on your home.
With an average rate of $586 per year, Farmers has the cheapest home insurance rates for Odessa homes that have a swimming pool, while State Farm has the most expensive rates at $4,458 per year.
Company | Average yearly cost |
|---|---|
Farmers | $586 |
Texas Farm Bureau Insurance | $691 |
USAA | $2,339 |
Nationwide | $4,127 |
State Farm | $4,458 |
How to buy homeowners insurance in Odessa
Here are a few easy steps to take as you shop for home insurance in Odessa:
Reach out to a licensed Policygenius agent. Our team of experts can help you get quotes from top companies at no cost or obligation to you. We can help you determine which coverage works best for you and how much protection you’ll need to ensure your home is fully covered in the event disaster strikes.
Ask if you should purchase flood, hurricane, or wildfire coverage. Given the unpredictable weather, including hurricanes and tornadoes in Texas, consider purchasing additional dwelling coverage or flood insurance to protect your home against catastrophic losses.
Figure out how much you can afford to pay for your deductible. A higher deductible means you’ll pay less for homeowners insurance, but you’ll also pay more out of pocket on each claim. A Policygenius agent can help you pick out a deductible that works within your budget.
Compare quotes from a Policygenius agent. Once you’ve identified your coverage needs, limits, and deductibles, a Policygenius agent will send over quotes from top companies so you can review your options.
Choose your policy, sign it, and pay your first premium. Policygenius will do all of the paperwork for you, and will even cancel your old policy if it isn’t expired yet. All you need to do is sign on the dotted line and pay your first premium. It’s that easy!
Frequently asked questions
How much is car insurance per month in Georgia?
Drivers in Georgia pay an average of $1,625 per year for car insurance, which breaks down to $135 per month.
How can I lower the cost of my home insurance in Odessa?
One unique way to lower the cost of home insurance in Odessa is by installing security systems in your home. Many insurance companies will reduce the cost of your yearly premiums if your home has doors with deadbolts or installed security systems.
Do I need additional home insurance if I put in a swimming pool?
Swimming pools can help you cool down when it gets hot, but they can be a nightmare if someone is injured around your pool and decides to sue. You should consider purchasing additional liability coverage to protect you against damages if someone is injured around your pool.
Is it mandatory to have homeowners insurance in Texas?
It isn’t mandatory to have homeowners insurance in Texas unless you have a mortgage on your property. Mortgage lenders require insurance for the full 100% replacement value of your home to protect their investment in the event of a disaster.
