A homeowner’s insurance will offer you compensation if an insurance risk occurs and causes damage to your house or personal belongings. There are 3 main functions of a homeowner’s insurance; cover personal liability if you injure someone else, repair your house and replace personal effects.
Although having homeowner’s insurance is not a requirement by law, having it is an added advantage and a wise decision to protect you and your property.
Here are the most common Dallas homeowner’s insurance costs:
1) $2000 Quote for $18000 Coverage & $500 Deductible
- Located near Goodwin St, Park Meadow Way, Gertrude Ave
- 3 Beds, 2 Baths
- 42 years old Female earning $50 to $75,000 with up to 600-649 Credit Score with No Pets and is a Non-Smoker
This home is located near Goodwin St. park meadow way, Gertrude avenue, a safe location in Dallas, TX. This 3 bedroomed house with 2 baths is quite comfortable for a large family.
The house owner does not smoke, have pets but has a 600-689 credit score. This makes her get her premium of $2000 as there are minimal risks to the house; for instance, with no pet, it means pets can cause no damage. Being a non-smoker means there’s no chance of accidental fires resulting from a cigarette.
The house is over 30 years makes it quite relatively old and as with aging comes to wear and tear that requires frequent maintenance, which the insurer charges in the premiums to be paid. Therefore, the reflection in the cost of premiums
2) $1160 Quote for $115000 Coverage & $500 Deductible for The Following Details in Dallas
- Located near Summit Oak Cir, S Ottawa Rd, Heritage Pl
- 2 Beds, 1 Bath
- 48 years old Male earning >$150,000 with up to 750-799 Credit Score with No Pets and is a Smoker
This is a relatively small house, but the owner earns some significant income of above $ 150000 and an impressive credit score of 750-799, making him unlikely to be an offender No pet is a contributor to low deductibles of $500. The owner is, however, a smoker, which means the risk of fire has been factored in the insurance by the insurer hence $1160 insurance premiums.
3) $1160 Quote for $150000 Coverage & $1300 Deductible for The Following Details in Dallas
- Located near Courtshire Dr, Monte Vista Dr, Eugene St
- 4 Beds, 3 Baths
- 61 years old Female earning $25 to 50,000 with up to 800-850 Credit Score with 2 Pets and is a Smoker
The deductible costs are relatively higher. The homeowner has advanced in age, and with 2 pets and smoking, the insurer considers this the total insurance cost, hence higher deductibles.
Is Your Home Insured?
As a homeowner, your home is a significant investment and achievement. You, therefore, want to protect your property together so that in the case of a risk occurrence, you won’t have to lose your home, property, and money because your insurer will sort it out!