?>
 

When it comes to states with expensive condo, mobile home, or manufactured home insurance rates, homeowner insurance coverage in Texas is ranked at the very top — No. 1 — with average annual premiums costing between $967 and $1,409.

Unfortunately, this is a huge financial burden that Texas homeowners must carry. A bill that would’ve revamped the Department of Insurance and state insurance regulations has passed the deadline for consideration in the House in 2009, and another review of the bill would only take place in 2011. The consequence of this inaction of the legislative body is a doubling of the insurance premiums, causing many homeowners to cancel or no longer renew their policies.

Why is homeowner insurance in Texas so expensive? The reasons that have been put forth are…

· Violent and unpredictable weather conditions in the state

· An increase in mold claims and related lawsuits

· Rising home repair costs pegged at 7% annually (This is accompanied by a corresponding 4% yearly increase in homeowner insurance rates.)

Sadly, a homeowner insurance policy is required by mortgage lenders before they could approve loans. Given the volatile weather in the state, the heavy financial burden is a necessary evil compared to total ruin that would result from the home’s destruction in a disaster.

The types of coverage included in Texas homeowner insurance are the following…

· Dwelling: This covers the actual structure of the home as well as other buildings and facilities, such as garages, sheds and swimming pools

· Personal Property: This covers furniture, appliances and other personal belongings

· Liability Coverage: Covers lawsuits and claims resulting from bodily injury that occurs on the homeowner’s property and damage to another’s property. This also covers the medical expenses of the injured individual.

· Living Expenses: Covers the funds needed by the homeowner and his/her family to continue to live a normal standard of living while their home is being rebuilt or repaired. This would include apartment rental, food and clothing.

While the standard policy lists perils such as fire, smoke, lightning, windstorm, theft and/or vandalism, it does not include floods or earthquakes. Both need to be purchased as separate policies, with flood coverage being offered by the National Flood Insurance Program. Mold coverage will only be added to the basic policy at extra cost.

Is it possible to lower the insurance rates that one has to pay? One option that is frequently being offered by insurance providers is raising deductibles. However, this option is a double-edged sword. While it could lower premiums, having too high a deductible may lead to the homeowner’s shouldering the greater part of the claim instead of letting the insurance company carry the larger financial burden. A second option is getting multiple policies from the same insurance provider, which would entitle the homeowner to discounts. A third option is installing protective and security devices in the home.

Homeowner insurance in Texas may be the most expensive in the United States, but it is the only way that homeowners could be assured of protection for their most valuable investment, namely their home.
Find  homeowner insurance rates in each of these Texas cities:

Abilene – Addison – Alamo – Alamo Heights – Aldine – Alice – Allen – Alvin – Amarillo – Anderson Mill – Andrews – Angleton – Aransas Pass – Arlington – Atascocita – Athens – Austin – Azle – Bacliff – Balch Springs – Bay City – Baytown – Beaumont – Bedford – Beeville – Bellaire – Bellmead – Belton – Benbrook – Big Spring – Boerne – Bonham – Borger – Brenham – Bridge City – Brownfield – Brownsville – Brownwood – Brushy Creek – Bryan – Burkburnett – Burleson – Canyon – Canyon Lake – Carrollton – Carthage – Cedar Hill – Cedar Park – Channelview – Childress – Cinco Ranch – Cleburne – Cleveland – Cloverleaf – Clute – College Station – Colleyville – Commerce – Conroe – Converse – Coppell – Copperas Cove – Corinth – Corpus Christi – Corsicana – Crockett – Crowley – Crystal City – Cuero – Dalhart – Dallas – DeSoto – Deer Park – Del Rio – Denison – Denton – Dickinson – Donna – Dumas – Duncanville – Eagle Mountain – Eagle Pass – Edinburg – Eidson Road – El Campo – El Paso – Ennis – Euless – Fabens – Farmers Branch – Flower Mound – Forest Hill – Fort Bliss – Fort Hood – Fort Stockton – Fort Worth – Fredericksburg – Freeport – Fresno – Friendswood – Frisco – Gainesville – Galena Park – Galveston – Garland – Gatesville – Georgetown – Gladewater – Glenn Heights – Gonzales – Graham – Grand Prairie – Grapevine – Greatwood – Greenville – Groves – Haltom City – Harker Heights – Harlingen – Henderson – Hereford – Hewitt – Hidalgo – Highland Park – Highland Village – Highlands – Hillsboro – Hitchcock – Homestead Meadows South – Hondo – Houston – Humble – Huntsville – Hurst – Ingleside – Iowa Park – Irving – Jacinto City – Jacksonville – Jasper – Jersey Village – Jollyville – Katy – Kaufman – Keller – Kerrville – Kilgore – Killeen – Kingsville – Kirby – La Feria – La Homa – La Marque – La Porte – Lackland AFB – Lake Dallas – Lake Jackson – Lakeway – Lamesa – Lampasas – Lancaster – Laredo – League City – Leander – Leon Valley – Levelland – Lewisville – Liberty – Littlefield – Live Oak – Lockhart – Longview – Lubbock – Lufkin – Lumberton – Mansfield – Marlin – Marshall – McAllen – McKinney – Mercedes – Mesquite – Mexia – Midland – Midlothian – Mineral Wells – Mission – Mission Bend – Missouri City – Monahans – Mount Pleasant – Nacogdoches – Navasota – Nederland – New Braunfels – New Territory – North Richland Hills – Odessa – Orange – Palestine – Palmview South – Pampa – Paris – Pasadena – Pearland – Pearsall – Pecan Grove – Pecos – Perryton – Pflugerville – Pharr – Plainview – Plano – Pleasanton – Port Arthur – Port Lavaca – Port Neches – Portland – Raymondville – Rendon – Richardson – Richland Hills – Richmond – Rio Grande City – River Oaks – Robinson – Robstown – Rockport – Rockwall – Roma – Rosenberg – Round Rock – Rowlett – Sachse – Saginaw – San Angelo – San Antonio – San Benito – San Elizario – San Juan – San Marcos – Santa Fe – Schertz – Seabrook – Seagoville – Seguin – Sherman – Silsbee – Slaton – Snyder – Socorro – South Houston – Southlake – Spring – Stafford – Stephenville – Sugar Land – Sulphur Springs – Sweetwater – Taylor – Temple – Terrell – Texarkana – Texas City – The Colony – The Woodlands – Tomball – Trophy Club – Tyler – Universal City – University Park – Uvalde – Vernon – Victoria – Vidor – Waco – Watauga – Waxahachie – Weatherford – Webster – Wells Branch – Weslaco – West Livingston – West Odessa – West University Place – Wharton – White Settlement – Wichita Falls – Windemere – Woodway – Wylie

Homeowner insurance in Texas provides coverage in the event of damage to your property from theft, fire, floods, and natural disasters as well as protects you from liability for injuries or damage caused to people on your property. The right homeowner insurance plan  can help you make the best choices about this important protection for you and your family. Get free quotes on home owner insurance in Texas above.

Sorry, the comment form is closed at this time.