Why You Need Home Insurance in San Antonio
San Antonio residents are all too familiar with the elements, whether it’s golf ball-sized hail during a ferocious thunderstorm or the occasional tornado threat. That’s where homeowner’s insurance comes in. With home insurance, San Antonio residents can protect themselves from these inevitable seasonal perils. Residents can also protect themselves from the unexpected, such as fires or theft. When disaster strikes, a solid home insurance policy can help pay to replace personal property, repair damage done to the home, or pay for a stay in a hotel if temporarily displaced. Insurance in San Antonio also includes liability; in the unfortunate event that someone is injured on your property, you’ll have help paying any ensuing medical or legal bills, regardless of who was at fault.
Cost of Insurance in Texas
Given the high risk for devastating weather statewide in Texas, from the hurricane-prone Gulf Coast to destructive storms and tornadoes, insurance in Texas can be pricey. According to an Insurance Information Institute report from 2011, Texas has one of the highest premiums in the country. At $1,578, it is nearly double the national average of $978. Despite the higher average insurance cost, not having the proper insurance can prove to be much costlier, especially if the home is damaged by weather, fire, or if another unfortunate event occurs in the home, such as in the case of burglary.
Factors of Home Insurance Rates in San Antonio
Coverage and rates are determined based on several factors involving the home and its surroundings. According to the Texas Department of Insurance, these factors include your home’s age and condition, replacement cost, and construction materials used. Generally, older homes are charged more for premiums, while those in very poor condition may even be refused coverage. The more it costs to replace your home, the more your insurance premiums in San Antonio will be. When it comes to construction materials, homes constructed primarily of brick are less expensive to insure than frame homes, which are less durable.
The location of your home also helps to determine your insurance premiums in San Antonio. For instance, homes that have access to fire protection, such as nearby fire departments and fire hydrants, generally have lower premiums than homes that don’t.
How Crime Can Affect Your San Antonio Home Insurance Rates
Crime is another major factor which can affect your insurance premiums. If your neighborhood has high incidences of theft, your home may cost more to insure given the greater risk posed. In San Antonio, you may be able to receive a discount on your homeowner’s premium if your home qualifies following a Basic Home Security Survey. During the survey, which is free to the public, a San Antonio Police Department official inspects your locks, doors, windows, lighting, and fencing, and suggests ways to improve your home security. To get an idea of crime in San Antonio, refer to the following chart (from SanAntonio.gov):
Robbery Burglary Larceny-theft
2013 2,192 14,850 58,567
2012 1,864 15,668 60,633
2011 1,785 15,334 59,644
Other Factors Affecting Home Insurance
Other factors that are used to determine your premiums are more personal. An agency may refer to your claims history and credit report when determining your rate. If you have a history of filing claims or bad credit, then you may be charged higher premiums.