Homeowners insurance in Texas is at the forefront of the minds of most of the state’s residents. This is because, depending on where you live, homeowners insurance can be a big line in the monthly budget. This is a concern in Texas, where floods and storms can pose a serious threat to houses. As a result, insurance agencies and carriers tend to charge more for homeowners insurance in Texas. Despite this fact, there are a lot of steps that people who live in Texas can take to reduce the cost of homeowners insurance. This post will list some of them and describe how and why they are useful.
First of all, it is important to understand why insurance carriers offer discounts in the first place. When a carrier sells you a homeowners insurance policy, they are buying a stream of payments from you that come in every month. This is all revenue for the company. When a covered event happens to your house and the insurance company has to pay out money, that is a loss for them. The company is making a bet that the value of the payments you make to them is less than they will need to pay out to repair your house over the lifetime of the contract. That means that anything that reduces the risk that they need to pay out is good for them. As a result, insurance carriers selling homeowners insurance are willing to give out discounts to homeowners who can reduce the risk of a covered event like a fire or flood, or at least reduce the damage they can cause.
One of the most popular ways of getting a discount in Texas on homeowners insurance is impact resistant materials. There are a few different possible ways to take advantage of this idea, but the basic idea is that the Texas Department of Insurance has set standards about which products qualify for discounts. These are state-level regulations that insurance carriers must follow for homeowners insurance, so as long as your project uses qualified materials, you should definitely get a discount on your homeowners insurance.
The biggest area of impact resistant materials that are eligible for homeowners insurance discounts is impact resistant roofing. These materials can protect your roof from the hailstorms that can cause significant damage in many parts of Texas. The storms can damage the roof, leading to leakage and more damage to the interior. That is exactly the kind of damage that your insurance company would have to pay to repair. They would rather that you pay a reduced rate than have to deal with sudden large claims after a storm moves through a region. Keep in mind that your house is not the only one that the carrier insures- they are likely the carrier for many houses in the same area. So if a storm damages many of them at once, the company has to make a large payment all at once.
The next thing to consider is the possibility of getting windows and doors that are strong enough to resist the impact of objects thrown around in strong wind. During tornadoes or large storms, the wind can toss heavy objects at high speed into houses. If these hit the glass windows and doors of your home and that glass shatters, then that can cause injury, further damage to the inside of the home, and other problems. Much like the case of the roofing, insurance companies would like to avoid the problem of having to pay for this kind of damage. If you can demonstrate to your homeowners insurance carrier that you have installed windows and doors that are highly resistant to impact, you might be able to get a similar discount.
The key to getting a good deal on homeowners insurance in Texas is to do your research about what kind of products can get you a discount. There might not be much you can do about the basic price, but if you obtain discounts, you will save a significant amount of money over the year. Don’t stop at the items in this post. There are other ways you can get discounts, and most of them involve lowering the risk of your homeowners insurance carrier needing to make a payment on a claim you file. In that sense, the interests of you and your homeowners insurance carrier are aligned- you both want to reduce the risk of anything bad happening to your home. Many Texans are unhappy about having to pay for homeowners insurance, but from this point of view, it’s a good way to protect yourself and your property from damage.