HOUSTON – After the winter storm, unfortunately, people are more familiar with home insurance and what is and what is not covered by their policies.
Some people are now actively researching and doing homework on home insurance and possibly switching operator.
Before you move, some insurers plan to increase rates in the coming months.
If you are looking to make a change, how do you decide between all companies?
A big factor is the cost.
KPRC2 Investigates obtained data from the Texas Department of Insurance (TDI) on which companies are preparing to raise their rates in March 2021 for new policies. These numbers are for the average across Texas.
Vanguard Sul Insurance will increase by 4.7%.
American Economy Insurance will increase by 8.6%.
Texas Chubbs Lloyds Insurance Company will increase 17.8%.
Allstate Indemnity Company will drop -14.40% for renewed policies.
Ben Gonzalez of TDI says that these changes in rates have nothing to do with the recent freezing climate.
“Rate changes happen all the time,” said Gonzalez. “Anything you’re seeing now coming in the next few months, or in the short term, probably has nothing to do with this winter storm. These were archived a long time ago. “
When you are looking for a change, shop around and make sure to compare the same amount of coverage.
“The cheapest thing may not offer the coverage you need,” said Gonzalez.
Insurance is very specific to your situation – your home, your family and even your zip code can affect your rate.
The state makes it easy to compare with an interactive feature on your site.
You can use the comparison tool to see what’s on the market, then choose some of them and buy from these companies to get the best rates.
Before moving, you can contact TDI if you have problems with a complaint. It’s free. 1-800-252-3439.
“Ask us to correspond with this insurer … or perhaps it is a formal complaint,” said Gonzalez. He added: “Maybe we will just check that everything has been handled according to the terms of your policy.”
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