Purchasing your home is a very exciting process, but you need to be sure that you are buying the best insurance – the most complete and comprehensive Texas homeowners insurance available – to protect your investment and your property as best you’re able to.
This is nowhere near as simple or as straightforward a process as most people believe it to be.
Thankfully though, you’ll be able to find exactly the right amount of insurance for your needs without having to waste any time or effort.
Let’s dive right in!
Understand how much coverage you are going to need and the type of coverage you want
A lot of people are going to attempt to begin the hunt for Texas homeowners insurance by researching different insurance companies, looking for the best affordable insurance available.
That’s a major mistake you don’t ever want to make.
The only way you’re ever going to be able to find the right insurance for your specific needs is if you first understand exactly how much insurance you need to purchase – and that starts only after understanding how much your home is actually worth.
You see, there are two real different types of homeowners insurance that you can purchase here in Texas (and everywhere else, for that matter):
- Actual value homeowners insurance that allows you to completely rebuild your home from the ground up should something happen and
- Market value homeowners insurance that provides you with a check for the market value of the home at the time of the claim, which may or may not cover your rebuild expenses
While some people are going to go with the market value affordable insurance plans, the risk there is the market may take a turn for the worst and you end up getting less money than you actually need to replace or purchase a brand-new home.
No one ever wants to find themselves in that situation.
By purchasing actual value Texas homeowners insurance you don’t ever have to worry about that issue. You may not ever get “extra” money from your insurance company, but you’ll at least be guaranteed to rebuild and have a home should anything disastrous happened.
Pick a deductible you’ll be able to cover
It’s also critically important that you find a deductible figure you are comfortable meeting before you decide to work with any specific affordable insurance company.
The higher your deductible is the lower your insurance premiums will be, and since most people aren’t going to have to utilize their homeowners insurance, saving up in emergency fund that completely covers your deductible allows you to keep your insurance payments inexpensive while still enjoying top-tier protection.
A $5000-$10,000 deductible will protect you and keep your costs low.
Research your affordable insurance options as in-depth as possible
There are a lot of different insurance companies out there promising the moon and the stars went comes to coverage and service, but only a handful of them are actually worth moving forward with should you need to take advantage of the protection that they provide.
Google is going to be your best friend as you research the different options available, and you’ll want to make the very most of this time to look at as many different companies as you are able to. You’ll want to dive into their reputation, the services that they make available, and the speed of their claims process.
Dig up as much information as you can through testimonials from real clients and customers so that you get inside information straight from the horses mouth, so speak, and you’ll be much more confident in your decision.
Conduct a total inventory (with photographs if possible)
Because your physical home isn’t the only thing covered by your Texas homeowners insurance policy you’ll need to keep meticulous records of all the possessions that you want to also be covered under this umbrella.
Take photographs of all your important items, track and digitally record receipts and total values, and upload all of that information to the cloud so that you don’t have to worry about running out of a burning home with a fireproof safe, for example.
Keep your insurance policy “up for review” every year
At the end of the day, the best way to get affordable insurance – without ever having to compromise the total value of your comprehensive Texas homeowners insurance – is to keep your policy “up for review” every year and continue to look for better deals.
Not only will you be able to shop around and possibly find better offers from other companies, but you’ll also be able to tell your homeowners insurance company that you’re doing so and may be able to squeeze them for better incentives, better coverage, and better prices without ever having to leave the company at all.
It doesn’t get much better than that!