Dallas Homeowners: This Market Research Can Help You Choose the Best Homeowners Insurance

Dallas Homeowners

The real estate market is hot right now, with homes flying off the market and bidding wars abound. One particularly sizzling market is the Dallas Homeowners-Fort Worth area of Texas. People have flocked to the metroplex for over a decade, attracted by the lower cost of living, bountiful job market, and the endless list of things to do. 

If you’re getting ready to buy a home in Dallas, don’t overlook how much you’ll be paying in homeowners insurance when factoring in how much you can afford.  Since many people opt to roll their insurance and property tax into their escrow account to be paid monthly with the mortgage, it’s easy to passively allow the policy to renew and not think about how much the premium increased. It can be a pain to spend time on the phone or online getting quotes, but whether you’re buying new or renewing a policy, checking out market research before purchasing homeowners insurance Dallas will help you get the best rate.

Factors Considered When Providing a Quote

The first thing to remember is the different things insurance companies look at when deciding your rate. Generally, they look at the following:

  • Home price is used to determine how much coverage you’ll need
  • Deductible amount
  • Number of bedrooms and bathrooms
  • Year the home was built
  • The area where the house is—usually determined by zip code
  • Number of occupants and their ages
  • Pets—what kind and what breeds
  • Financial info for the occupants, including income and credit score
  • Smoker status of occupants

How to Interpret Homeowners Insurance Quotes

When perusing the quote list, keep in mind rates generally increase based on proximity to Dallas (or the area of Dallas it’s in) along with the size of the home. The higher the square footage you have, the more it will cost to rebuild, so make sure to purchase enough coverage. No one thinks a natural disaster will hit their home, but since Dallas is prone to tornadoes, it’s best to play it safe and get more than you think you need. An older house may cost more to cover as well since they, on average, are more prone to breaking down. 

A lower deductible usually means a higher premium. You’ll have to decide which is more important to you—paying a more significant sum upfront and less later if you need to file a claim or have smaller premiums while gambling that you won’t need to make expensive repairs using your insurance.

Another helpful feature includes the agent who provided the quote along with their contact information. If you find the quotes they’ve given align with what you’re looking for, give them a call. 

You’ll Get the Best Rate When You’re Armed with the Right Information

As you browse homeowners insurance quotes, make a note of which companies give the best rates before inquiring around for a quote. When you have a ballpark figure in mind, you’ll have realistic expectations for where your rate should be.


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