"*" indicates required fields
Some say living in Texas is as close as you get to Paradise. With the risks that homeowners in Texas face, covering your home with the best insurance possible is a good idea. Choosing an insurance company and policy that is right for your home is very important. There are many types of policies to choose from and at times it can seem like a daunting or confusing task. One must consider a couple of things in order to make the process easier. First, the actual location of the home is important. Is it located in a flood plan, high crime area or known earthquake fault? Second, the areaโs weather activity should be considered. Is the home on or near an area that frequently has hurricanes, tornadoes or other severe weather? For example, in Texas, there is a high potential for tornado damage, so adequate insurance should be a priority. If the answer to either of these questions is yes, the home will probably be considered high risk.
Just because your home has been labeled high risk, it doesnโt mean you cannot obtain insurance. High risk insurance is available in most areas. Unfortunately, there are a couple of drawbacks to this type of insurance. High risk homeownerโs insurance can cost significantly more than standard insurance. Thankfully, there are ways to decrease your rate. If you are in a high crime area, you can install a monitored security system and receive a discount on your insurance. If you live in a high risk weather area, you can have metal shutters placed on your windows to save on your premium.
If for some reason, your insurance company drops your policy and you donโt qualify with another company, you can apply for FAIR Plan (Fair Access Insurance Requirements) insurance. This insurance is usually not as much coverage as standard insurance and may cost a lot more.
Itโs important to have your home covered and itโs up to the homeowner to find the right insurance for their home.
Recent Posts
2024- Are Burglary Claims Still a High Risk?
Burglaries are a persistent threat to homeowners across the U.S., with over one million break-ins occurring annually. Even though burglary rates have decreased...
2024 Atlantic Hurricane Season Predictions
All Early Predictions Call for a Busy 2024 Atlantic Hurricane Season Forecasters are predicting an exceptionally active Atlantic hurricane season in 2024. The...
Top High-Risk Home Insurance Factors
When you own a home, one of the most important things you need is home insurance. This insurance helps protect your house and...