Home Insurance in Savoy, Texas
The median home value in Savoy is $155,500, 33% lower than the Fannin County median.
Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. The typical home in Savoy was built around 1968. About 37% of homes were built before 1960, about 17 points above Fannin County's 20%.
In Savoy, the housing stock is 73% single-family homes, 2% apartments in buildings with 5+ units and 8% mobile or manufactured homes. The rest are 2-4 unit or other housing types. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
70% of owner-occupied homes in Savoy carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
The vacancy rate is 14%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 67% of occupied homes in Savoy are owner-occupied.
In Savoy, 53% of homes are primarily heated with electricity. Homes heated with propane can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
Fannin County's top FEMA-rated hazard is tornado (Relatively Moderate), per FEMA's National Risk Index. Fannin County had 146 active NFIP flood policies as of September 2026. See the full Fannin 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).
Key figures
| Median home value | $155,500 |
|---|---|
| Median year built | 1968 |
| Owner-occupied share | 67% |
| Share of owner-occupied homes with a mortgage | 70% |
| Top county hazard | Tornado (Relatively Moderate) |
| Active NFIP policies in Fannin County | 146 |
| Home insurance premium | $2,864 - statewide average (NAIC, 2023 data) |
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)