Frequently Asked Questions Regarding the Best Home Insurance in Texas

You don’t want to pay any more each month than you have to. That is very understandable! You know your homeowners insurance is important, though. It isn’t something you can just skip. For this reason, you probably have a lot of questions so you can feel confident you’re getting a great price and have the coverage that you need.

 

Some of the most frequently asked question by Texas homeowners include:

 

“Am I paying more or less than the average home insurance cost in Texas?”

In 2018, the average cost of home insurance in Texas was $1,945, making it the seventh most expensive state in the country for home insurance. This amount is $717 more than the national average of $1,288, for the coverage level of a home that is worth $200,000. This is a common question, because you don’t want to be paying more than you have to. Yet, knowing the average home insurance cost in Texas is really only the beginning. Your house may be larger or you may want extra coverage due to having expensive items in your possession. There’s also the factor of your desired premiums and deductible to factor in.

 

“What factors affect my premiums?”

When you have an insurance policy, you pay a little bit each month which is called your premium. There is also a “deductible” or excess, which is the amount of money that you must contribute to the repair or replacement cost of property. The following factors can affect your homeowners insurance premium:

Your home’s features and characteristics

Location

Protective devices

Personal lifestyle factors

Claims history

 

It is probably no surprise that a large home on the beach needs a more costly homeowners insurance policy than a modest sized house further inland. Other factors that increase your premium may be more surprising though, like the fact that smokers pay more than nonsmokers because they’re more likely to have a fire at their house.

 

“Is there anything I can do to lower my policy’s price?”

Of course! Just like with auto insurance, some factors are in your control. Burglar alarm systems, security cameras, smoke detectors, fire extinguishers, sprinkler systems, and deadbolt locks all lower your homeowners insurance premium, so keep your home as protected as possible. You’ll also want to keep your credit score up and always pay your bills on time.

 

“Am I required to have homeowners insurance if I own a home?”

Actually, no. Unlike driving a car, you can legally own a home without homeowners insurance in Texas. However, if you finance your home with a mortgage, your lender most likely will require you to have home insurance coverage to protect your home. They don’t want you walking away from a house you still owe them money for because it was destroyed by a hurricane! If you own the home outright and no longer owe a mortgage to any type of bank or other lender, you can choose to have your home unprotected but this is not recommended.

 

If you have other questions regarding homeowners insurance here in Texas, reach out to a trusted insurance provider and ask. They’ll be happy to speak with you!