How to Cut Your Texas Home Insurance Premiums by 25%

If your home insurance bill feels like it’s climbing year after year, you're not alone. Home insurance premiums can be a big part of your monthly expenses, especially if you’re balancing the cost of a mortgage, property taxes, and other essential bills. The good news? There are plenty of ways to trim down those costs without sacrificing the coverage you need. From rethinking your deductible to adding some simple upgrades, here’s how to get serious about lowering your home insurance premiums and keeping that extra cash in your pocket.

1. Rethink Your Deductible

Think of your deductible as your share of the responsibility. A higher deductible usually means a lower premium. So, if you’re willing to cover a bit more in case of an incident, your monthly payments might take a noticeable dip. Just make sure the deductible you choose is manageable for your budget in case something unexpected happens. Generally, increasing your deductible from $500 to $1,000 can save you up to 25% on your premiums.

2. Shop Around and Compare Quotes

Insurance companies love new customers, and they often provide competitive rates to bring you on board. Don’t be shy about getting quotes from multiple insurers to see who’s offering the best deal. Compare not just the premiums, but also the coverage specifics, customer service, and any discounts they offer. Make it an annual habit to re-evaluate your options – sometimes loyalty doesn’t always pay!

3. Bundle Up with Auto or Life Insurance

Many insurance providers offer discounts if you purchase more than one type of insurance policy with them, like bundling home and auto insurance. In some cases, you could save 10-15% on both policies, which adds up. Check with your current provider to see if they offer a bundling discount, or ask around to see which insurers offer the best deals for bundling.

What Home Insurance Doesn’t Cover

4. Add Safety Features to Your Home

Your insurance company wants to know that you’re proactive about keeping your home safe, and the safer your home is, the lower your premium might be. Installing devices like smoke detectors, burglar alarms, deadbolts, and carbon monoxide detectors can qualify you for discounts. Going further with a smart security system or even updating outdated wiring and plumbing can make a huge difference. On average, adding home security features can save you around 5% on your premium.

5. Consider a Roof Upgrade

In Texas and other areas prone to extreme weather, a strong roof is a major asset – for both safety and savings. If your roof is older, replacing it with wind-resistant or impact-resistant materials could qualify you for a substantial insurance discount. Texas insurers especially recognize the value of these upgrades since severe weather is common, so check if your policy provider offers this incentive. Plus, a durable roof protects your property and your wallet in the long run.

6. Build Up Your Credit Score

It might seem like credit scores are everywhere, and that’s because they are – even in insurance. Many insurance companies consider your credit score when calculating your premium. A better credit score often means a lower premium, so taking steps to improve your credit could actually help reduce your home insurance costs. Paying bills on time, reducing credit card balances, and keeping credit utilization low can all improve your score over time.

7. Avoid Small Claims When Possible

Filing frequent claims for minor issues can cause your premiums to increase over time. When possible, handle smaller repairs out-of-pocket. By doing so, you can avoid drawing unnecessary attention to your policy, helping to maintain your low premium. Insurance companies might view multiple claims as a sign of increased risk, which can lead to higher rates.

8. Review and Update Your Policy Regularly

Life changes fast – maybe you’ve downsized, added safety features, or repurposed a part of your home. Your insurance policy should reflect these updates. Every year, take a fresh look at your coverage and make sure it’s still the right fit. Adjusting your policy to accurately reflect your home’s current value and contents could prevent you from overpaying.

9. Stay Claim-Free for Loyalty Discounts

Some insurers reward customers who go claim-free for a period with a discount or reduced deductible. Staying claim-free can sometimes earn you an annual discount, which gradually adds up over the years. Check with your insurer to see if they have any loyalty or claim-free discounts to reward you for being a low-risk homeowner.

10. Work with Abode for Tailored Advice

Navigating home insurance discounts and policy adjustments can be overwhelming, but that’s where Abode steps in. We specialize in helping Texas homeowners uncover ways to save on insurance, from finding bundling options to recommending specific upgrades that can trim down your premium. Reach out to our team at Abode to get tailored guidance and insights that can help you optimize your coverage – and your savings.

Final Thoughts: Take Charge of Your Home Insurance Premium

While home insurance is a necessity, overpaying is not. By making a few strategic adjustments, you can take charge of your premium and work toward reducing it each year. Remember, whether it’s comparing quotes or investing in upgrades, there are steps you can take that add up to big savings over time.

Ready to start saving? Connect with Abode today for a customized plan to help you get the best possible rate on your home insurance.