How to Keep Your Texas Homeowners Insurance Rates Lower

In 2015, many homeowners had the unfortunate experience of learning that their homeowners insurance rates were rising. Texas is currently ranked third in the country for states with the highest homeowners insurance premiums, and the average homeowner pays more than $1,660 for Texas homeowners insurance. One of the largest insurers in the state raised premiums by seven to eight percent this year, which has left many homeowners wondering if more affordable insurance rates are available. Insurance rates vary by provider, and shopping around may yield a lower premium for some. However, there are also other things that you can do to keep your insurance rates low, and these are some of the top effective options to consider.

Look for Extra Discounts
Insurance companies offer discounts for a wide range of things. The discounts vary by provider, and they can also change by the year. Because of this, it can be difficult to keep up with all of the discounts available to you. It is wise to reach out to your provide to ask about discounts that you are not currently taking advantage of. For example, you may qualify for a discount because you live in a gated community. You may also be able to make a few minor changes to your home to take advantage of different discounts. For example, adding a fence around the perimeter of your swimming pool or changing the locks on your doors may help you to qualify for a discount. Ask your agent about discounts that you are not currently using to learn about possible savings.

Consider Different Payment Options
You may qualify for savings on your homeowners insurance premium based on how you pay. Some insurance companies will give you a nice discount if you pay your entire premium in full. Others may give you a discount if you set up an automatic payment plan. You can inquire about these options with your current insurance provider to learn about savings available to you. You can also ask about these options with different insurance providers when you shop around for other quotes. The discounts available will vary by insurance company, so it is necessary to inquire about these options with each provider.

Bundle Your Services
Another way to save money on your homeowners insurance premium is to bundle your services. Many insurance providers including offer a generous discount if you bundle your auto insurance, life insurance or both with them. This often is one of the most significant discounts available, but bundling does not always yield the best overall rates. You should get an individual quote for the different policies as well as a quote for bundled services. If you do need to take advantage of bundling for a discount, remember that you can always purchase a very small life policy or only insure one of your vehicles to get the discount. This option may keep your rates most affordable in some cases.

With homeowners insurance rates on the rise in Texas, it is understandable that you may be looking for a way to lower your existing premium. You can consider how each of these tips can result in a lower premium, and applying them together can often yield the best overall results. In addition, you can also apply these tips when you are shopping around for new insurance quotes. It is wise to gather new quotes on insurance rates annually. If you have recently learned that your premium is increasing, now may be the perfect time to put these tips into action and to start requesting new quotes.