Houston homeowners spent over $2.2 billion on insurance last year but often lack full coverage.
HOUSTON — Homeowners in the Houston area spent more than $2.2 billion on homeowners insurance last year, but many still aren’t fully protected. Whether you’re shopping for a new policy or reevaluating your current coverage, experts say understanding your needs and asking the right questions can save you money and stress.
Do you really need flood insurance?
Yes, even if you’re not in a floodplain.
Scott Elmer with the Harris County Flood Control District says major flooding events like Tropical Storm Allison and Hurricane Harvey impacted areas outside the mapped flood zones.
“I cannot overstress the importance of buying flood insurance,” Elmer said. “If you live in Harris County, you should purchase flood insurance whether you’re in the flood plain or you’re not.”
Important Reminder: Flood insurance policies don’t activate immediately. It takes 30 days from the purchase date to take effect.
If you live along the coast, you may also need separate wind and hail insurance, which is not included in standard homeowners policies.
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Where to start when shopping for coverage
Mistie Hinote with the Texas Department of Insurance recommends starting your search at HelpInsure.com, a free resource to compare home insurance providers and rates.
“You can go there and put in some basic information… and they’ll give you a list of companies, some price quotes,” she said.
You should also talk to friends, family, and neighbors about their experiences with different companies, especially customer service quality and claim response time.
3 ways to save on homeowners’ insurance
Looking to lower your monthly payment or get better value? These tips can help:
1. Ask about discounts
You may qualify for savings if you:
- Install a security system
- Add a sprinkler system
- Have a new roof
- Are a senior
2. Adjust your deductible
- Want to lower your monthly premium? Choose a higher deductible.
- Prefer a lower deductible? You’ll pay more each month.
3. Bundle your policies
Buying home and auto (or even life insurance) from the same provider usually leads to significant savings.
Helpful resources
- Website: HelpInsure.com – Compare policies and prices for free
- State Helpline: Call 800-252-3439 Monday through Friday, 8 a.m. to 5 p.m.