WEDNESDAY, FEBRUARY 26, 2020
 It’s no secret that homeowners insurance rates can go up right beneath your nose without warning. If your insurance rates are higher than you’d like them to be, Pan American Insurance can help you get a lower price.
Why Do Home Insurance Rates Go Up?
There are many reasons that an insurance agency might raise your insurance rates. One reason is to compensate for natural rises, such as the price of inflation. Other reasons concern large changes in your life that may affect the coverage you need. Your home insurance rates may change if you:
- Remodeled the home
- Added features such as swimming pools
- Started a home-based business
- Added security systems
- Your dog bit someone
- You filed an insurance claim
Not all of these changes are bad. Adding security systems like smoke alarms and anti-theft locks can actually lower your homeowners insurance rate. If you started an at-home business or began working from home, you may want to look into
What Coverage We Offer
Pan American Insurance offers a basic homeowners policy as well as extra coverages that other insurance companies don’t. We provide coverage such as:
- Dwelling Coverage: Dwelling coverage, also known as structure coverage, provides compensation if damage occurs to your home due to fire, smoke, lightning, wind, hail, theft, vandalism and more.
- Contents Coverage: Contents coverage provides compensation if the items within the home are lost or damages. You can purchase further insurance for expensive items such as jewelry and art, called scheduled item riders.
- Liability: Liability covers you in case you cause bodily injury or property damage to someone else. It can also help with legal expenses if the victim decides to sue.
- Living Expenses: If your home is damages or lost beyond habitation, living expense coverage can help you temporarily live elsewhere while the home is being repaired or rebuilt.
- Pet Liability Insurance: Humans aren’t the only ones who can cause damage. This insurance provides medical and legal compensation if your pet causes bodily injury or property damage.
- Flood Insurance: Contrary to popular belief, floods aren’t covered by a basic homeowners insurance policy. This insurance will cover your home and belongings from damage caused by a flood.
- Other Structures Insurance: There are some structures outside of the home that aren’t covered by dwelling coverage. Other structures insurance covers items such as fences, unattached garages and sheds.
- Sewer Backup Coverage: This is another incident that people usually assume is part of a typical homeowners policy. But a basic policy won’t cover you or your belongings in case of a sewage problem. Sewer backup coverage provides compensation for damages done to the home due to a plumbing issue.
How to Lower Your Homeowners Insurance
There are many steps you can take to lower your homeowners insurance rate.
- Build and maintain good credit
- Bundle insurance with the same company
- Invest in safety measures for the home
- Improve disaster resistance (purchasing an impact-resistant roof, for example)
- Shop discounts (Multi-Policy discounts, Mature homeowners discount, non-smoker discounts, etc.)
- Pay a higher deductible. Keep in mind that your premiums may be lower, but you’ll have to pay more after an approved claim.
- Insure with Pan American Insurance
There are some parts of insurance rates that are out of people’s control, but there are plenty of options for Texas homeowners to pay less for the right amount of coverage you need. Connect with an insurance agent about insuring your home.
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