Lakeway Insurance Group
2501 Ranch Road 620 South, Suite 201, Lakeway, TX 78734
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2501 Ranch Road 620 South, Suite 201, Lakeway, TX 78734
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2121 Lohmans Crossing Rd, Ste. 504-412, Lakeway, TX 78734
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1921 Lohmans Crossing Road, Suite 100, Lakeway, TX 78734
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Learn about insurance coverage options specific to Lakeway residents.
Home insurance in Lakeway, TX costs $990-$1,388/year. Learn about waterfront coverage, wildfire risk, flood insurance needs, and saving strategies.
General Insurance EducationComplete insurance guide for Lakeway residents. Learn why home insurance is cheaper here, how to protect lake properties, and navigate Texas's rising auto rates.
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Home insurance in Lakeway typically costs between $990 and $1,388 per year for an average-valued home. However, since Lakeway's median home value is approximately $749,000 (well above the Texas average), most homeowners will pay significantly more depending on their property value, coverage limits, and whether they need additional flood insurance for waterfront properties.
If your home is in a designated flood zone, your mortgage lender will require flood insurance. Even if it's not required, it's highly recommended for waterfront properties since standard homeowners insurance doesn't cover flood damage. Central Texas is known as 'Flash Flood Alley,' and flood insurance in Texas averages $779 per year—a relatively small investment compared to potential flood damage costs.
Yes, standard homeowners insurance policies in Lakeway cover fire damage, including wildfires. Since Lakeway sits in the Texas Hill Country with elevated wildfire risk, it's important to maintain defensible space around your property and consider fire-resistant improvements. Lake Travis Fire Rescue offers free home risk assessments to help you prepare, which may also qualify you for insurance discounts.
Yes, unlike coastal properties that need separate windstorm coverage, Lakeway homeowners have wind and hail protection included in their standard homeowners policy. This is crucial since Texas experienced 878 major hail events in 2024, making it the hardest-hit state for hailstorms. Your policy should cover roof damage, broken windows, and other hail-related losses.
Shopping around can save you an average of $870 per year. Other ways to reduce costs include bundling home and auto insurance (15-25% savings), installing a monitored security system (5-20% discount), choosing impact-resistant roofing, implementing wildfire mitigation measures, and raising your deductible. Make sure to ask insurers about all available discounts for newer homes or recent updates to electrical, plumbing, and HVAC systems.
Your dwelling coverage should reflect the full replacement cost of your home, which may exceed market value for custom or luxury properties. With Lakeway's median home price around $749,000 and many properties over $1 million, work with an insurance agent to calculate accurate replacement costs including custom finishes and high-end features. Consider additional coverage for valuable personal property and umbrella liability insurance for extra protection.
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