– The cost of insuring your home continues to climb. In Texas, rates jumped about 23% last year, pushed by costly, extreme weather disasters and inflation. Here are some ways to try to trim your rising premium.Consumer Reports says to consider a local independent agent or broker who sells policies from several insurance companies. They might also recommend policy add-ons to help your coverage keep up with inflation, which is important when you file a claim.First, look up.
The same goes for older plumbing. A home security system and gas and water leak detectors could also save you money.Like it or not, most insurers can use what’s called a credit-based insurance score. They can check your score often and use it in pricing premiums.Some insurers say the risk of dog bites and liability lawsuits is greater with certain breeds. You might be denied or have to pay more. Trampolines and pools are safety risks.
Also, report the truth. Not divulging honest information could lead to dropped coverage if your insurer learns about it later after an accident. Be cautious about how often you make a claim. One claim every few years shouldn’t be a big deal, but Consumer Reports says three claims in two years might raise your rates or even lead to dropped coverage.Marilyn Moritz is an award-winning journalist dedicated to digging up information that can make people’s lives a little bit better. As KSAT’S 12 On Your Side Consumer reporter, she focuses on exposing scams and dangerous products and helping people save money.