Archive for March, 2010
Factors About Low Cost Homeowners Insurance And How You Can Save
It’s no secret that Houston, Texas is a great place to live! If that were not true, then over 2 million people wouldn’t call Houston and its surrounding suburbs their home. Some characteristics that make Houston a very appealing city are its seasonably warm climate, low housing cost, and seemingly endless choice of restaurants and entertainment options. Unfortunately not all things about Houston are great; especially if you own a home and are trying to find low cost homeowners insurance.
Many people have relocated to Houston for job opportunities over the past few years due to the lower than average Houston unemployment rate. Many have also taken advantage of government tax credits to purchase their first home. One of the most common concerns for new homeowners in the Houston area is the high cost of home insurance in relation to other parts of the country. The national average for a homeowners insurance policy in America is $690/year while Houston’s average policy cost tips the scales at just over $900/year. With such a large difference in price compared to other major metropolitan cities, it’s no wonder there is an increasing concern among homeowners in the Houston area who are looking for a low cost homeowners insurance alternative.
While several different factors go into pricing an insurance policy, one characteristic of Houston has the largest impact on our rates and that is “location”. Houston’s proximity to the warm waters of the Texas Gulf Coast is directly related to the higher risk of weather related damages. Every summer, these warm waters fuel a destructive weather pattern known is tropical cyclones or more commonly referred to as “Hurricanes”. This makes low cost homeowners insurance often very difficult to find for homeowners in our area. Since Hurricane Katrina in 2005, forecasters have predicted an increase in the frequency as well as the severity of these summer storms and they were right. History repeated itself when Hurricane’s Rita and then Ike left the Texas coast bruised and battered causing billions of dollars in property damage for homeowners in the Houston area. Read the rest of this entry »