August is here, and for many Houston families, that means one thing: the back-to-school rush. Between new uniforms, supplies, and tuition, your monthly budget is probably already feeling the squeeze.
It’s the perfect time to look at another recurring expense that seems to only go one way: your home insurance.
While overall market rates in Texas can rise due to inflation and regional weather risks, you aren’t powerless. You can stop your home insurance from going up by shopping around for a new policy, bundling your insurance policies, and raising your deductible. Here is a pragmatic, “back-to-school” approach to grading your current policy and keeping those premiums in check.
1. Re-evaluate Your Coverage (The “Curriculum Review”)
Just as you review your child’s class schedule, review your policy annually. Don’t just auto-renew.
- Shop Around: Compare quotes from different companies every year or two instead of auto-renewing. Prices fluctuate, and shopping ensures you aren’t paying a “loyalty tax.”
- Bundle Policies: Buy your home and auto insurance from the same company to secure a multi-policy discount that can reach up to 25%.
2. Adjust Your Deductible Strategy
If you’re looking to lower your annual payment immediately, consider raising your deductible. Choosing a higher out-of-pocket deductible amount—like moving from $500 to $1,000 or $2,500—can noticeably drop your monthly or annual premium. Just be sure to set aside those extra savings in an emergency fund so you aren’t caught off guard if you do need to file a claim.
3. Home Maintenance: The Best Homework
A well-maintained home is a cheaper home to insure.
- Avoid Small Claims: Pay for minor household repairs out of pocket instead of filing small claims. This keeps your record clean and prevents rate hikes.
- Upgrade Safety and Security: Install smart smoke detectors, burglar alarms, or deadbolts, and update your roof. These upgrades often earn you direct discounts.
- Improve Your Credit Score: Keep your credit record clean, as many insurers use credit-based scores to set prices.
4. Don’t Be Afraid to Ask for “Extra Credit”
Your insurance agent is your advocate, not just an order-taker. Call your agent and ask directly for unadvertised or loyalty discounts, such as:
- Paperless billing discounts
- Claims-free discounts
- Loyalty discounts for long-term clients
Focus on Your Financial Future
Back-to-school season is about setting your kids up for success. By taking a few pragmatic steps today, you can set your household finances up for success, too. At Steve Soyebo Insurance Agency, we believe you shouldn’t have to choose between full coverage and a manageable budget.
If you are ready to stop your premiums from climbing, get a personalized policy review in Houston or call us directly at (832) 934-9090. We’ll run a comprehensive review of your policy to ensure you’re getting the best rates possible—so you can put that saved money right back into your family.
