How to Find Cheap Insurance Rates in Texas, Despite Risk of Hurricanes
If you live in Texas and were present during the time Hurricane Katrina hit, then you’ll be all too aware of the devastating impact a natural disaster of that magnitude can be to your worldly possessions. The Insurance Information Institute reports that Hurricane Katrina was the costliest disaster in the history of insurance. It said that the insurance industry paid $41.1 billion and handled more than 1.7 million claims across six states. From across the country, 15,000 claims adjusters were called in to handle the record number of claims for damage to homes, businesses and vehicles. There were 63 percent insured losses accounted for in Louisiana, and one-third in Mississippi.
The federal government-operated National Flood Insurance Program (NFIP) paid out $16.1 billion in claims from flooding. Although not covered under standard homeowners’ insurance policies, damage from flooding, including storm surge from a hurricane, is covered by the NFIP. According to the institute, an estimated $2 billion to $3 billion of insured damages occurred at off-shore energy facilities. This article will discuss available options for cheap insurance rates in Texas, so you can make an informed decision on insuring your property. You’re going to be utterly surprised to find out in this article, just how much devastation and cost implications to insurance premiums stand to hit you where it hurts the most – your pocket.
The more you think of the detrimental consequences of inadequate insurance coverage, the more you’ll want to consider taking out an insurance policy that will cover you in case something unexpected and unfortunate as Hurricane Katrina occurred. A study made by the National Association of Insurance Commissioners in 2007 reports that the average premium paid in the entire country in the year 2005 was approximately $764, whilst the average Texan resident saw average premiums of approximately $1,372. The study also found the "longhorn" state to be the most expensive state when it came to homeowners insurance in the entire United States.
Increasing dramatically after Katrina, the state of Louisiana clocked $1,144 and Florida $1,083. Some people say that until you’ve been hit, you really don’t believe it can happen to you. Hurricane Katrina reminded home insurance companies that states in the Gulf of Mexico, which include Texas, New Orleans and Florida, ought to charge a lot of money for homeowners insurance to even stay in business. I’m sure by now you’ll be wondering how then (under such circumstances) would you find cheap insurance rates in Texas. If you’re the kind of person that wants to get cheap insurance rates in Texas, then here are some very simple tips for lowering your Texas home insurance rate. Making your home better prepared for natural disasters can lower your home insurance costs.
I wonder if you knew that staying with the same insurer can lower your insurance costs by up to 10% because, in case you hadn’t noticed this much-overlooked detail, companies like to reward you for being a good customer in this industry. Raising your deductible is one of the most important things that determine your rate. And last but not least, try bundling up different types of insurance! This will also have insurance companies reward you for being a good customer.
If you live in Texas and have had dealings with car insurance before, then you’ll probably be aware that the minimum state regulated requirements for Texas auto insurance cover $25,000/50,000 for bodily injury and property damage each, went up to $30,000/$60,000 towards an accident. It's never a good idea to over or under insure your car because, in both cases, you end up losing money. When searching for affordable car insurance in Texas, you’ll want to buy a policy that not only meets all of your requirements, but also offers an edge over its competition, in terms of customer care.
If you have only experienced high insurance rates that are disproportionate to the state of your vehicle, then this article will offer handy tips to help you gain a better perspective on how to handle your car insurance matters. I wonder if you’ve noticed that as soon as you start shopping for car insurance companies, you are flooded with ‘lowest rates’ and ‘cheapest insurance’ offers 24/7? Well, let me tell you this: before you buy into the first enticing offer that tickles your fancy, you’ll want to consider some important factors that actually make car insurance affordable.
First and foremost, whatever you do, try to make sure that you carefully select coverage with features that make your car insurance meet all your needs. It is also very important to deal with an insurance company that gives you fair, prompt and reliable customer service at reasonable rates. For example, some companies will offer plenty of other benefits in place of discounts, needless to say, some of these benefits actually make for affordable car insurance (when you look at the bigger picture).
Benefits like lifetime car repair guarantee (when your vehicle has been repaired by a preferred shop after a claim), 24/7 insurance claim hotline, waiver of the deductible for a "Not at Fault" Accident, first accident forgiveness and so forth, all stand to save you more money in the long term. Being able to buy affordable car insurance in Texas needn't be a farfetched dream. The more astute you are in spending a little time to understand your requirement before buying your policy, the easier it becomes to find the ideal car insurance tailored to your needs based on the model of your car; your driving record; distance traveled; and the number of people using your car.
Some car insurance policy buyers say that only until you devise an insurance plan that meets the basic requirements as well as covers other risks, will you know that you’re onto a good insurance policy deal. Car Insurance, being mandatory in most US states, varies in its requirements for the basic minimum coverage to put your car on the road. However, it is advisable to be prepared for the consequences when you buy just the bare minimum coverage, because should you be found at fault in an accident, the other driver can claim from your car insurance. This should give you a rough idea of liability amounts you should be purchasing. If you’re the kind of person that wants affordable car insurance in Texas, that is also stress-free in its liability coverage factor, then to protect yourself, always buy adequate coverage over and above the minimum liability.
Where You Live and How it Affects Your Car Insurance in Dallas
If you were wondering whether where you live influences the rate you pay on car insurance, then you will be glad to discover that one of the biggest factors that influence the premium on your Dallas car insurance is your location. In other words, not only does your age, your credit, your vehicle and driving record influence your rate, where you live also matters. Furthermore, if you’re the kind of person that doesn’t want to be stopped by the Dallas Police Department enforcing the Uninsured Motorist Ordinance that took effect on January 1, 2009, then it makes perfect sense to ensure that your car is insured to avoid having it impounded and towed away at your expense.
This article, among other matters of concern, will discuss how where you live can affect the cost of your car insurance in Dallas. The Uninsured Motorist Ordinance that was enacted in response to the large number of people driving in the City of Dallas without the proper state required auto insurance saw the department issuing about 75,000 citations a year to motorists with no car insurance in Dallas. What this really entails is that when you are pulled over by law enforcement and are unable to provide proof of insurance, your car is towed immediately and a receipt for your vehicle is issued. I wonder if you’ve realized that, these uninsured drivers place an unfair burden on those who comply with state law and maintain auto insurance.
You’re going to be amazed at the great inconvenience this will be for you should you not have valid car insurance in Dallas…like a $350 fine, and a charge of $20 for each day your car is impounded. Now let’s take a look at the implications of where you live versus the premium you pay for auto car insurance in Dallas. Insurance companies use sophisticated pricing models that calculate the amount of premium to charge, and where you live is, no doubt, one of the factors. It makes sense therefore that people residing outside of metropolitan areas pay lower insurance rates. The reason being, that insurance companies are able to statistically prove that those people outside big cities have fewer accidents.
Since traffic is not as heavy and distractions for people in the country are minimal compared to those endured by drivers in the city. For example, if you live and work in the Dallas and Fort Worth suburb of Flower Mound Texas, car insurance will be less expensive. The reasoning is that if you’re only driving a short distance to work, for example, without having to get on the freeway, the odds of you getting involved in a wreck are quite diminished somewhat. This means you’d be less likely to be involved in a collision that would cost the insurance companies money. And it is for this reason that an insurance premium for those living outside Dallas and Fort Worth is eligible for discount.
The more you look at the advantages of living outside busy cities, the more you’ll want to move outside the hustle and bustle of the big cities to save an enormous amount of money on your Dallas car insurance premium—among other things. So the next time you’re moving somewhere and you do have a choice of where you might live, be sure to call insurance agents to get car insurance quotes based on the different places you might want to live. Some people say that when you’ve weighed all of your options carefully, you’re bound to come up with the ideal Dallas car insurance rate that will save you tons of money.