There are many reasons Richardson, Texas, which ranked 15th out of the Top 100 Best Places to Live in 2006, is one of the fastest-growing cities in the state. One reason is its affordability, with a relatively low cost of living and an affordable housing market.
One thing Texans do spend more for, however, is insurance--Texas is the most expensive state to insure a home, with the average cost to insure a home $1,409 a year (compared to the national average of $804).
Factors Influencing Richardson Insurance Quotes
Some of the factors that make your Richardson insurance so expensive are:
- Location. Regardless of where you are in Texas, you're bound to be at risk for a natural disaster. In the south along the coast, residents have to deal with hurricanes; in Central and Northern Texas, residents are at a high risk for tornadoes and lightning storms. Living in an area with a high probability for natural disasters will keep your rates high.
- Crime. People who live in a large urban city such as Dallas or Houston typically have higher crime rates than smaller cities; as a result, they can expect to pay more for insurance.
- Materials/labor cost. The going rate for labor and materials in your area will also influence your insurance rates--the higher the cost, the higher you will pay or your Richardson insurance.
- Housing prices. The housing prices in your area will also influence your rates; the higher your home's value, the higher your insurance will be.
Lowering Your Richardson Insurance Quotes
Even if you live in the most expensive state to insure your home, there are plenty of ways to save on your homeowners insurance:
- Look for discounts. There are many discounts for homeowners, from new home discounts to discounts for military personnel or retirees. Some of these can be up to 20% or more.
- Secure your home. You can make your home safer and save on your insurance by installing security features like burglar alarms, motion lighting, or deadbolt locks.
- Raise your deductible. Higher out of pocket costs mean lower monthly payments, so consider increasing your deductible to save money. Make sure that it's no more than you can comfortably afford.
- Insure your car and home together. If you have a car or two you need to insure, consider getting your car insurance and homeowners insurance from the same company. Most companies will offer a discount for this.
- Compare Richardson insurance quotes. Shopping around for multiple Richardson insurance quotes and comparing rates is a must for saving money on your insurance policy. The quickest, easiest way to do this is through a site like netquote.com. Not only can you get multiple quotes to compare, but you can also research all types of Richardson insurance.
You can still live in Texas without having to pay an arm and a leg for your homeowners insurance; looking out for discounts and shopping around can save you a bundle.