Many residents of the state of Texas are looking for ways they can lower their homeowners insurance costs. Texas residents pay a high price for homeowners insurance. In fact, only the states of Florida and Louisiana have higher premiums than Texas. Fortunately, there are a couple of different steps that individuals can take to lower their homeowners insurance costs.
The very first thing that Texas residents need to do is shop around. This may take a little bit of time, but it means that a person will be able to save a lot of money. Shopping around can include calling insurance companies as well as visiting their websites. The price is not the only thing that should be considered. You should be sure that you are getting quality service and that all of your insurance needs will be covered.
A second option is raising your deductible. The deductible is the amount of money that you will have to pay out of pocket before your homeowners insurance will start to kick in. The most common deductible is about $500. However, if you are in a situation where you can raise it to about $1,000, you may be able to save 20 to 25 percent on your homeowners insurance premiums. Texas experiences lots of severe weather, which means that some insurance policies have separate deductibles for different kinds of damage. This should be kept in mind if you are thinking about raising your deductible.
A third option is to buy your homeowners insurance from the same company where you buy your auto insurance and other types of insurance. If you have two or more policies from one company, you may get a discount. Combined pricing can save you a lot of money. However, you need to fully understand the coverage you are getting before you agree to it.
Something else that will help you to lower your homeowners insurance costs is to make your home more disaster resistant. One thing that you may consider doing is reinforcing your roof. Another option is to add storm shutters or shatterproof windows. If you modernize the heating, electrical, and plumbing systems in your home, this can reduce the risk of water and fire damage. Speak with your homeowners insurance agent and find out how making your home more disaster resistant can save you money.
It is also a good idea for you to look for ways that you can get other discounts. For example, some retired individuals may qualify for discounts through certain companies. Professional associations as well as some employers may offer a better deal through their group insurance programs than you can get on your own.
Another way to save money on homeowners insurance costs is by reviewing the limits on your policy. You want to make sure that all additions to your home and any major purchases you have made will be covered. However, you do not want to pay for things that are no longer as valuable. For example, there are many individuals who insure possessions they have in their home, like an expensive fur coat. However, if the fur coat is no longer as valuable as it once was, you may not need to pay extra for that item anymore. It is a good idea for you to review your policy and the value of your possessions at least once or twice a year.
There are quite a few other steps that you can take to reduce your homeowners insurance costs. If you improve the security in your home, maintain a good credit record, and even look for private insurance through a government plan, you may be able to save quite a bit of money.