Although the cost of home insurance in Texas is higher than the national average, there are steps you can take to lower your premiums.
See if You Qualify for Discounts
If eligible, you can benefit from insurance discounts to save on your monthly insurance costs in Texas. Potential discounts include:
- Bundling:If you buy more than one type of policy from the same insurer, you can qualify for a bundling discount.
- Security systems: Installing security systems like burglar or fire safety alarms can help you lower premiums.
- Claims-free: Some insurance providers offer a discount to homeowners who do not file a claim for a specified period.
- New home: You can earn a discount if you have a new home as it’s less likely to have structural issues.
- Autopay: Most insurers offer an autopay discount, which lets you save on your premiums by setting up automatic payments every month.
Modify Your Deductible
You can lower your premium by choosing a policy with a higher deductible — but this will result in more out-of-pocket expenses in case of damages. We recommend choosing a deductible amount that balances potential savings and financial impact in case of a claim.
To decide on the right deductible, assess your financial situation and frequency of claims. You might also have to consider your lender’s requirements if you have a mortgaged property.
Consider Your Credit Score
In Texas, insurers can consider your credit history to determine how much you will pay for a policy. You can qualify for a lower rate with a good credit score. However, If you do not have a strong credit history, improving it can be a long-term strategy to reduce insurance costs.
You can improve your credit history by paying your bills on time, settling outstanding debts and regularly reviewing your credit reports for errors.
Shop Around
Every insurer has different underwriting criteria, which means rates will differ between companies. We suggest you gather quotes from multiple providers and compare rates to ensure you get the best deal. You can use our resources to compare home insurance quotes from top providers or tools like helpinsure.com by the Texas Department of Insurance.
