A Few Tips for Finding the Best Homeowners Insurance in Texas

Going without homeowners insurance isn't a good idea no matter where you live, but it's particularly risky for those who reside in Texas. With hurricanes devastating hundreds of homes every year, plus other disasters, Texas homeowners like you need no reminder of how important home insurance is for protecting your long term finances. That being said, finding the best homeowners insurance in Texas is tough. Who is the best company and who has the best rates for you? It can be difficult to know for sure.

You can start by knowing the average home insurance cost in Texas and going from there. The average cost of home insurance in Texas is $3,429, making Texas the fifth most expensive state in the country for home insurance. Its average cost is $1,124, or 49%, more than the national average of $2,305. This is because of those hurricanes mentioned above! This price is for the coverage level of a $300,000 dwelling coverage with a $1,000 deductible. Since many homeowners work their insurance into their monthly mortgage rates, that equals $285.75 a month in addition to what you're paying your lender for the house itself.

This is only the starting point in your research, though. There are many factors that go into your homeowners insurance, so yours could be within that average range, much less, or much more expensive and still be considered a "good" price. The location of your home, how it was built, and its current condition are all big factors. As well, your credit and claims history play a part in how much you pay. If you have a poor driving record, you'll pay more for car insurance. Just the same, if you had a claim on your account last year, let's say you left the oven on and the house caught on fire, your homeowners insurance will be higher to account for this. Texas is a big state and the climate in Amarillo is very different from that in Galveston. If you live in an area prone to being hit by flooding or hurricanes, you'll also pay more. The more likely you are to need a pay out, the more money you'll pay each month so the insurance company comes out even.

You want cheap homeowners insurance in Texas, but you don't want less coverage than you need should a catastrophe occur. Certain factors can bring your insurance costs down. Remember, it's all about risk for the insurance company. If you live in a gated community with a night guard or have a high tech security system, you're less of a risk for having your home broken into and your expensive items stolen. That makes your home cheaper to cover.

Also remember that insurance companies assess risk in different ways, so it's important to compare multiple homeowners insurance quotes from several different companies to be sure you get the most affordable rate. This way, you'll know for sure that your home is covered and the price is low enough to be affordable in the long run.