If you are searching for affordable rates on homeowners insurance in Texas, you are not alone. The average cost of homeowners insurance in Texas varies considerably based on the market you are in. For example, in the Austin area, homeowners insurance is approximately $1,000 to $1,100 for an average home. Along the coast, however, the average cost for homeowners insurance may be twice this. Regardless of the average price of homeowners insurance in your area, one thing is for certain. You do not want to pay more than you need to for this expense. Gainsco is a leader in homeowners insurance in Texas, and you can expect to find competitive rates when you request a quote from this provider.
What to Expect from Gainsco
This is an insurance provider that sells policies directly to customers as well as through independent agents, and it was founded in Dallas in 1978. Since its founding, it opened a regional office in Miami, and it has worked hard to maintain a solid rating with A.M. Best. It has a B+ rating by this reputable insurance industry rating company. Gainsco is a company that is known for insuring some of the harder-to-insure properties and for providing competitive pricing on other properties. It also is known for providing friendly service and a full range of policy options. Whether you have a property that is difficult to insure or you are looking for an insurance provider with competitive pricing, this is the insurance provider that you want to take a closer look at and to make a purchase from.
When you Request a Quote
You can easily request a homeowners coverage quote from this insurance provider as well as others, and when you do, ensure that you are requesting quotes based on the same coverage. More than that, take time to research the minimum coverage requirements that your lender has. Most mortgage lenders will require homeowners to maintain a policy that will replace the home in the event of a total loss scenario. This typically will not pay for the replacement of the home’s contents, so you should also consider adding on a personal property rider to to the policy. When you request the same quote from each provider, you will be able to more easily make an apples to apples comparison.
Look for Discounts
While comparing quotes is a great way to identify the provider with the most affordable insurance, keep in mind that there may be discounts and credits available through one provider that are not available with another provider. For example, some may have a safe driver discount while others do not Some may have different qualifications for discounts than others, so you may qualify for one discount with a provider but not with another provider. For example, some providers have a safe driver discount that is based on your driving record, and others require you to take a defensive driving course in order to qualify for the savings. A smart idea is to ask your insurance agent about the different discounts available and to learn more about what it will take for you to qualify for them.
Adjust your Deductible for Savings
Another thoughtful step that you can take to save money on your insurance is to adjust your deductible. A typical deductible is the equivalent of one percent of the replacement value of the house, but there are some variations to this. For example, some policies have a flat dollar amount rather than a percentage-based deductible. You may choose to increase the deductible for a lower premium and only up to a certain limit. For example, you may increase the deductible up to two percent with some providers, but generally, providers will not allow you to have a deductible of five percent or higher. You can inquire about the different premium amounts for each deductible amount you are thinking about. Always ensure that you have the financial means to pay the deductible immediately, and this is necessary so that you can file a claim when you need to.
Gainsco is just one of several insurance companies that you may be getting quotes from, but it is a superior option to do business with. When you are getting quotes, be sure to keep these money-saving tips in mind so that you can find the lowest premium possible.