Sometimes people are unhappy about the cost of their homeowners insurance. However, most people fail to comparison shop for quotes and don’t take into consideration the type of home their purchasing and the location. These factors and others can have a tremendous impact on your final insurance costs. Using these simple tips when buying a home and ordering insurance can help you to get the best deal on homeowners insurance quotes in Texas.
Poor Credit Means Higher Premiums
Before you begin shopping for house, it’s a smart idea to pull your credit report. Hopefully, with luck, you’ll find you have fair to excellent credit. Your credit rating can determine the interest rate you’ll pay on a mortgage, and it definitely affects the insurance rates you’re charged when purchasing a homeowners insurance policy.
If you’re not in a rush to get into a new home, take some time to clean up your credit, pay down bills and improve your credit rating. The better credit you have, the less you’ll pay for an insurance premium.
Shopping for Homes
Age and Condition of the Home
Homes that are ten years old or more generally cost more to insure. Any homes older than this may have roofs that need repairing or older electrical and plumbing systems that could develop problems. Consequently, they cost more to insure.
Location of the Home
Unfortunately, homeowners insurance quotes in Texas are far more likely to be higher than many other states because rates are higher in Texas. However, it’s still possible to save by choosing the right location.
Look for homes that are in the better neighborhoods and have less crime. Insurance automatically costs more when insurance carriers are concerned about neighborhood burglaries.
Any homes located within a specified radius of fire stations and fire hydrants receive an added bonus. Most insurance companies give discounts because there is less risk of homes burning to the ground when close to a fire station.
If you can resist the temptation to purchase a home on the coast, your premium will naturally be lower. Beautiful beach properties in Texas always cost more to insure because of the risk of coastal storms, hurricanes and flooding.
Avoid purchasing homes in flood prone areas. Standard insurance doesn’t cover floods. You’ll not only save the hassles of dealing with major repairs if there should be a flood, but you’ll avoid the extra costs of purchasing flood insurance coverage as a separate policy.
Expensive Home Features
Before buying a new house or making upgrades, you’ll want to consider the added costs of home features like swimming pools, trampolines or hot tubs. Besides requiring maintenance and upkeep, they can significantly increase homeowners premiums. In addition, some carriers refuse to cover trampolines because of the risks.
Homeowners Insurance Discounts
Safety and Security Features
Although, you may have to pay out of pocket expenses upfront for the installation of safety and security features in a home, you’ll definitely receive lower homeowners insurance quotes in Texas as a result.
Installing home security systems, carbon monoxide sensors and fire alarms reduces the chances of burglaries and improves safety. Because some of these items can be expensive to install, you should always consult with your insurance agent to make sure of their requirements for receiving insurance discounts.
Memberships and Associations
Insurance carriers all differ in the types of insurance discounts they offer, but when requesting homeowners insurance quotes in Texas, you should consider asking about discounts at progressive.com for memberships in various associations.
Some carriers offer small discounts if you’re a member of AARP, AAA or various occupational organizations.
Insurance Payment Recommendations
Increasing Your Deductible
Make sure you choose a deductible that you can afford if your home should have to be rebuilt after a disaster. However, if possible, choose the maximum allowable deductible and you could possibly save about 35 percent.
Paying for Your Policy
Most insurers offer a small discount from 5 to 10 percent for paying your premium in full and early.
Bundle for Savings
Bundling all your insurance needs like autos, boats, motorcycles and home insurance with one insurance carrier is a great ways to receive reduced rates and makes payments easier.
Buying a home in the right location, considering features carefully and watching for discounts can all add up to the best deals for homeowners insurance quotes in Texas.