Home Insurance in Texas
Is anyone else having a tough time securing home insurance?
We’re set to close on April 10th in a rural area about an hour outside of Austin. It’s far enough from hurricanes, there’s no tornado risk, and flooding isn’t an issue.
The home is a well-maintained 1936 build on 2.75 acres with a new roof.
However, we’ve been receiving quotes ranging from $5,000 to $8,000, which seems outrageous. Most folks seem to pay around $3,000 or less.
We’re a 25-year-old married couple with a solid insurance credit history. Any advice or suggestions?
It sounds like you’re in a challenging situation. Home insurance rates can vary significantly based on multiple factors, even if you feel your location and home condition should qualify you for lower premiums.
Here are a few suggestions that might help:
Shop Around: Keep getting quotes from different providers. Sometimes smaller local companies offer better rates than larger ones.
Bundle Policies: If you have auto or other types of insurance, bundling them with the same provider might give you a discount.
Increase Your Deductible: While it might not be ideal, increasing your deductible can significantly lower your premium.
Review Coverage Options: Make sure you’re not paying for additional coverage that you don’t need. Sometimes adjusting the policy terms can help reduce costs.
Ask About Discounts: Inquire about any discounts for things like having a new roof, security systems, or being a first-time homeowner.
Consult an Insurance Agent: Consider working with an insurance agent who can help navigate the options and find the best deal for you.
It’s definitely frustrating to see such high quotes when you feel your home should have a lower risk profile. Hopefully, some of these tips can help you find a more reasonable rate! Good luck with your closing!