Home Insurance in Murphy, Texas
Homes in Murphy carry a median value of $555,500 - 17% higher than the Collin County median.
The typical home in Murphy was built around 2005. Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. About 1% of homes were built before 1960, in line with Collin County (2%).
The housing stock in Murphy is 98% single-family homes, 1% apartments in buildings with 5+ units and 1% mobile or manufactured homes.
In Murphy, about 70% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
About 94% of occupied homes in Murphy are owner-occupied.
Most homes in Murphy - 77% - are primarily heated with natural gas.
Collin County's top FEMA-rated hazard is tornado (Very High), per FEMA's National Risk Index. Collin County had 1,589 active NFIP flood policies as of September 2026. See the full Collin County home insurance overview for all FEMA hazard ratings and flood coverage details.
The statewide average premium for a standard HO-3 homeowners policy in Texas is $2,864 per year, according to the NAIC homeowners insurance report (2023 data).
4 licensed insurance agencies are listed for this area.
Key figures
| Median home value | $555,500 |
|---|---|
| Median year built | 2005 |
| Owner-occupied share | 94% |
| Share of owner-occupied homes with a mortgage | 70% |
| Top county hazard | Tornado (Very High) |
| Active NFIP policies in Collin County | 1,589 |
| Home insurance premium | $2,864 - statewide average (NAIC, 2023 data) |
Licensed insurance agencies in Murphy
- HOANG HOBBS LLC, Murphy (General Lines Agency)
- INHOME CARENOW LLC, Murphy (General Lines Agency)
- WESTMONT INSURANCE GROUP, LLC, Murphy (General Lines Agency)
- ZANE SHEPHERD FINANCIAL SERVICES, INC., Murphy (General Lines Agency)
Data source: Texas Department of Insurance - licensed agencies, https://data.texas.gov/d/3yqc-fcdt
Nearby towns
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)
- Texas Department of Insurance - licensed agencies (2026)