Best homeowners insurance in Odessa, TX (2024)

We looked at average costs, customer service ratings, and policy options from multiple top insurers to find the best and cheapest home insurance companies in Odessa.

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By

Rachael BrennanSenior Editor & Licensed Auto Insurance ExpertRachael Brennan is a senior editor and a licensed auto insurance expert at Policygenius. Her work has also been featured in MoneyGeek, Clearsurance, Adweek, Boston Globe, The Ladders, and AutoInsurance.com.

Edited by

Pat HowardPat HowardManaging Editor & Licensed Home Insurance ExpertPat Howard is a managing editor and licensed home insurance expert at Policygenius, where he specializes in homeowners insurance. His work and expertise has been featured in MarketWatch, Real Simple, Fox Business, VentureBeat, This Old House, Investopedia, Fatherly, Lifehacker, Better Homes & Garden, Property Casualty 360, and elsewhere.
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Reviewed by

Pat HowardPat HowardManaging Editor & Licensed Home Insurance ExpertPat Howard is a managing editor and licensed home insurance expert at Policygenius, where he specializes in homeowners insurance. His work and expertise has been featured in MarketWatch, Real Simple, Fox Business, VentureBeat, This Old House, Investopedia, Fatherly, Lifehacker, Better Homes & Garden, Property Casualty 360, and elsewhere.

Updated|3 min read

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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 16% higher than the statewide average of $2,919 per year, and about 92% higher than the national average of $1,754. 

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Compare the best cheap homeowners insurance companies in Odessa

To find the best cheap homeowners insurance in Odessa, Policygenius rated over a dozen of the largest insurance companies in Texas across several categories, such as average policy cost, financial strength ratings with AM Best, customer and claims satisfaction scores with J.D. Power, available policy options, and more.

Company

Average monthly cost

Policygenius rating

State Farm

$372

4.8 out of 5

Farmers

$49

4.5 out of 5

Nationwide

$344

4.5 out of 5

Progressive

$457

4.5 out of 5

Texas Farm Bureau

$58

3.9 out of 5

award icon

2024 Policygenius award winner

State Farm

State Farm logo

Policygenius rating 

Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.

Full orange starFull orange starFull orange starFull orange starHalf orange star

4.8

AM Best rating 

AM Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).

A++

Cost 

Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).

$

$

$

$

$

Bundle home & auto

Offers extended replacement cost

All 50 states

Why we chose itchevron icon

State Farm home insurance is one of the best overall home insurance providers in Texas thanks to its statewide availability, large selection of policy options for most home types, high customer service marks, and industry-best financial stability ratings.

Pros and conschevron icon

Pros

  • High customer satisfaction and financial strength ratings

  • Top-tier coverage add-ons, including extended replacement cost coverage

  • Offers large discounts when you bundle your home and auto insurance

Cons

  • 20% more complaints filed with the NAIC than other companies of its size

  • No discounts for first-time homebuyers

More detailschevron icon

Why we chose State Farm

At a time when lots of competitors are no longer insuring homes in areas prone to wildfires or hurricanes, State Farm continues to offer its relatively affordable and highly-rated home insurance to homeowners in most parts of the country, including Odessa.

While some of its competitors may not have the financial strength to pay out claims after several natural disasters in the same year, State Farm isn't one of them. It earns the highest rating possible from A.M. Best for financial strength and stability — only six insurance companies out of nearly 70 we reviewed hold this title.

How do State Farm home insurance rates compare to the Odessa average?

The average cost of State Farm home insurance in Odessa is $3,375 per year, which is about 92% more expensive than the average annual premium in Texas of $2,919.

How to get a quote

Online through State Farm

award icon

2024 Policygenius award winner

Farmers

Farmers Insurance logo

Policygenius rating 

Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.

Full orange starFull orange starFull orange starFull orange starHalf orange star

4.5

AM Best rating 

AM Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).

A

Cost 

Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).

$

$

$

$

$

Offers extended replacement cost

Bundle home & auto

Smart home discounts

Why we chose itchevron icon

Along with saving around 20% when you bundle your home and car insurance, Farmers also gives you access to its extensive suite of discounts, unique policy credits, and claim-free incentives that help put money back in your pocket.

Pros and conschevron icon

Pros

  • 12+ discounts to save on rates

  • Optional extended or guaranteed replacement cost dwelling coverage

  • Shave $50 off your deductible each year you’re with Farmers

Cons

  • Below-average scores on J.D. Power’s overall customer satisfaction and digital experience surveys

More detailschevron icon

Why we chose Farmers

Farmers home insurance stands out against competitors thanks to its 17 available discounts and policy perks. For context, Farmers competitors offer an average of around seven discounts total.

Along with several discount offerings and affordable rates, Farmers also offers the following two key policy perks:

  • Declining deductibles: Earn $50 toward your home deductible each year you have a home insurance policy with Farmers.

  • Claim forgiveness: Once you’ve gone five years without filing a claim, Farmers won’t raise your rate after that if you end up filing one.

Even more, depending on your state of residence, you can save up to 45% on your auto insurance and up to 34% on your home insurance when you bundle policies, according to farmers.

How do Farmers home insurance rates compare to the Odessa average?

The average cost of Farmers home insurance in Odessa is $586 per year, which is around 475% cheaper than the annual citywide average of $3,375.

How to get a quote

Online through Farmers

award icon

2024 Policygenius award winner

Nationwide

Nationwide logo

Policygenius rating 

Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.

Full orange starFull orange starFull orange starFull orange starHalf orange star

4.5

AM Best rating 

AM Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).

A+

Cost 

Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).

$

$

$

$

$

Bundle home & auto

Mobile app

New homebuyer discount

Offers extended replacement cost

Why we chose itchevron icon

Nationwide home insurance features an extensive range of comprehensive coverage and policy options. It also received high marks for claims satisfaction with J.D. Power, indicating you can rely on Nationwide when it matters most.

Pros and conschevron icon

Pros

  • Multiple high-quality coverage options

  • Highly rated for claims satisfaction with J.D. Power

Cons

  • Below-average customer satisfaction and digital experience ratings

  • Won’t cover Airbnbs or other short-term rentals

More detailschevron icon

Why we chose Nationwide

Nationwide is known for it's robust policy options and large selection of coverage add-ons, such as flood coverage and options to rebuild your roof with stronger materials after a covered loss, making Nationwide a smart choice if you live in an Odessa area at risk for extreme weather or natural disasters. While Nationwide’s average home insurance rate of $4,127 is among the most expensive in our top company analysis, it has several discount options available that can trim those high costs.

How do Nationwide home insurance rates compare to the Odessa average?

The average cost of Nationwide home insurance in Odessa is $4,127 per year, which is around 18% higher than the annual citywide average of $3,375.

How to get a quote

Online through Policygenius or Nationwide

award icon

2024 Policygenius award winner

Progressive

Policygenius rating 

Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.

Full orange starFull orange starFull orange starFull orange starHalf orange star

4.5

AM Best rating 

AM Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).

A+

Cost 

Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).

$

$

$

$

$

Bundle home & auto

Mobile app

Why we chose itchevron icon

Progressive offers robust home insurance coverage and ways to save. Our fave perk? Its bundling discount, which lets you save up to 20% on premiums and only requires you to pay one deductible if your home and car are damaged in the same event.

Pros and conschevron icon

Pros

  • Save up to 20% when you bundle your home and auto insurance

  • Bundling perks include single-deductible claims and streamlined bill payment

  • User-friendly app to manage and update policy

Cons

  • Below-average claims satisfaction ratings

  • Cost varies by company Progressive places you with

  • Customer service & claims options vary by company

More detailschevron icon

Why we chose Progressive

Progressive shines for its industry-best home and auto insurance bundling perks. Insure both your home and car with Progressive and you’ll not only score a huge discount, but you’ll only have to pay one deductible if your home and car are damaged in the same incident. This means if a tornado or hurricane knocks a tree over onto your home and car, you’ll only be on the hook for one deductible.

How do Progressive home insurance rates compare to the Odessa average?

The average cost of Progressive home insurance in Odessa is $5,488 per year, which is about 38% more expensive than the average annual premium in Odessa of $3,375.

How to get a quote

Online through Policygenius or ASI Progressive

Texas Farm Bureau

Farm Bureau Financial Services logo

Policygenius rating 

Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.

Full orange starFull orange starFull orange starHalf orange starEmpty gray star

3.9

AM Best rating 

AM Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).

A

Cost 

Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).

$

$

$

$

$

Why we chose itchevron icon

Texas Farm Bureau offers exceptional customer service and the option to bundle a slew of insurance policies on top of just home insurance to save money on rates.

Pros and conschevron icon

Pros

  • Excellent customer service score — received 99% fewer complaints expected for a company of its size in 2021

  • Excellent financial strength rating from A.M. Best, proving it likely has the funds to pay out claims in the wake of a natural disaster

  • Only pay one deductible if your home, car, and boat are damaged in the same event and you bundle your insurance policies with Farm Bureau

Cons

  • Rates are $1,400 more expensive than the national average

  • Need to have a Farm Bureau membership to purchase insurance

More detailschevron icon

Why we chose Texas Farm Bureau

Texas Farm Bureau offers a complete line of insurance products — from auto, home, life, commercial, and ranch, allowing you to have all of your policies with one company. Farm Bureau is a great option for Odessa residents looking for personalized customer care and recommendations from a local company that knows the area best.  

How do Texas Farm Bureau home insurance rates compare to the Odessa average?

The average cost of Texas Farm Bureau home insurance in Odessa is $691 per year, which is about 388% cheaper than the average annual premium in Odessa of $3,375.

How to get a quote

By contacting a local Texas Farm Bureau agent

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.

Compare home insurance rates in Odessa

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How much is homeowners insurance in Odessa?

The average cost of home insurance in Odessa is $3,375 per year, or $281 a month, for a policy with $300,000 in dwelling coverage. This is around 16% cheaper than the average annual cost of $2,919 for homeowners insurance in Texas, and about 92% higher than the national average. 

Odessa home insurance rates by ZIP code

To help you find out how much home insurance costs where you live, we calculated average home insurance rates by ZIP code in Odessa.

ZIP code

Average annual cost

Difference from state average (%)

79762

$3,434

18%

79763

$3,349

15%

79761

$3,434

18%

79764

$3,341

14%

79765

$3,340

14%

79766

$3,354

15%

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Cheapest ZIP codes for home insurance in Odessa

With an average home insurance rate of $3,340 per year, the 79765 ZIP code is the most affordable area for home insurance in Odessa.

ZIP code

Average annual cost

Difference from state average (%)

79765

$3,340

14%

79764

$3,341

14%

79763

$3,349

15%

Most expensive areas for homeowners insurance in Odessa

With an average annual premium of $3,434, the 79761 ZIP code is the most expensive ZIP code in Odessa for home insurance. If you live one of these ZIP codes, your rates might be among the highest in the city.

ZIP code

Average annual cost

Difference from state average (%)

79761

$3,434

18%

79762

$3,434

18%

79766

$3,354

15%

Learn more >> Home insurance rates by ZIP code

Odessa home insurance costs by coverage amount

Along with your home's location, your homeowners insurance premiums are primarily based on how much dwelling coverage is in your policy. This is the centerpiece of your home insurance coverage, covering the cost to repair or rebuild your home after a covered disaster. Here are the average rates for homeowners insurance by coverage amount.

Dwelling coverage limit

Average annual cost

$100,000

$1,540

$200,000

$2,429

$300,000

$3,375

$400,000

$4,346

$500,000

$5,344

Odessa home insurance costs by deductible amount

Your home insurance deductible is the amount you’re responsible for paying on each claim before insurance kicks in to help cover the cost of repairing or replacing your property. A higher deductible means lower insurance premiums, but it also means you're responsible for paying more out of pocket when you file a claim. Here are the average rates for homeowners insurance by deductible amount.

Deductible

Average annual cost

$500

$2,884

$1,000

$2,079

$2,000

$666

Cheapest homeowners insurance companies in Odessa

Based on our analysis, Farmers, State Auto, and Texas Farm Bureau are the three cheapest home insurance companies in Odessa, with average premiums citywide ranging from $586 to $691 per year.

Company

Average annual cost

Farmers

$586

State Auto

$628

Texas Farm Bureau

$691

Lighthouse Property Insurance

$1,217

USAA

$2,339

Mercury

$2,483

Chubb

$2,708

IAT Insurance Group

$2,884

UPC Insurance

$4,012

Nationwide

$4,127

State Farm

$4,458

Texas FAIR Plan

$5,403

Progressive

$5,488

AmGUARD Insurance

$6,771

Amica

$6,836

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Cheapest home insurance in Odessa if you have poor credit

bad credit score does more than just cost you a few dollars in late payment fees — it can also make your auto and home insurance rates thousands of dollars higher. Here are the average rates for homeowners insurance for people with poor credit.

Company

Average annual cost

Farm Bureau Insurance

$1,015

Lighthouse Property Insurance

$1,217

Farmers

$1,233

State Auto

$2,224

USAA

$2,930

Mercury

$4,185

Nationwide

$5,052

Texas FAIR Plain Association

$5,403

UPC Insurance

$6,387

IAT Insurance Group

$7,444

Chubb

$7,454

State Farm

$7,661

Amica

$8,732

AmGUARD Insurance

$9,708

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Cheapest home insurance in Odessa if you have an older home

Insurance carriers consider older homes to have a higher risk of damage or loss compared to newer homes since they're constructed with older and more difficult to replace materials. Additionally, certain structural components in older homes, like the roof or plumbing systems, may not be up to code. Here are the average rates for homeowners insurance for people with an older home.

Company

Average annual cost

Farmers

$564

State Auto

$656

Farm Bureau Insurance

$691

Lighthouse Property Insurance

$1,253

USAA

$2,367

Chubb

$2,420

Mercury

$2,506

IAT Insurance Group

$2,884

Nationwide

$3,566

State Farm

$4,451

UPC Insurance

$5,033

Texas FAIR Plain Association

$5,403

AmGUARD Insurance

$7,095

Amica

$7,559

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Cheapest homeowners insurance in Odessa if you have a history of claims

Claims history is one of the biggest factors that insurance companies use when calculating your home insurance premiums. If you have multiple claims on your record, your insurer will likely view you as a risk for filing future claims and may charge you higher rates as a result. Here are the average rates for homeowners insurance for people with a history of claims.

Company

Average annual cost

Farm Bureau Insurance

$769

Farmers

$901

State Auto

$1,409

Lighthouse Property Insurance

$1,830

USAA

$2,575

Chubb

$3,000

State Farm

$4,451

Mercury

$4,773

IAT Insurance Group

$4,946

Nationwide

$6,047

AmGUARD Insurance

$8,460

Texas FAIR Plain Association

$8,780

UPC Insurance

$10,162

Amica

$12,450

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How to get homeowners insurance quotes in Odessa

Here are a few easy steps to take as you shop for home insurance in Odessa:

5 steps to buying homeowners insurance in Odessa, TX

  1. 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.

  2. 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.

  3. 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.

  4. 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.

  5. 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!

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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.

Author

Rachael Brennan is a senior editor and a licensed auto insurance expert at Policygenius. Her work has also been featured in MoneyGeek, Clearsurance, Adweek, Boston Globe, The Ladders, and AutoInsurance.com.

Editor

Pat Howard is a managing editor and licensed home insurance expert at Policygenius, where he specializes in homeowners insurance. His work and expertise has been featured in MarketWatch, Real Simple, Fox Business, VentureBeat, This Old House, Investopedia, Fatherly, Lifehacker, Better Homes & Garden, Property Casualty 360, and elsewhere.

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