What to Do When You Can’t Find Affordable Home Insurance

Although you may be well aware of the importance of home insurance, there may be times when you struggle to find suitable coverage. Rates for these policies can vary significantly, and if you’ve had several recent claims, live in an area where natural disasters have wreaked havoc or otherwise have a high-risk profile, affordable premiums can be hard to find. The team at Zenitram Insurance Agency LLC is proud to offer guidance during these difficult situations.

How to Approach a Lack of Coverage Options

If you’ve experienced difficulty acquiring or maintaining a home insurance policy with manageable rates, several steps may be helpful. Start by considering the following strategies:

• Understand your situation. Even if you’ve been rejected or quoted an unaffordable rate, you should diligently request more information from your insurance agent, including reasons for your lack of options.

• Ask around. Neighbors and others in your community may share similar aspects of carriers’ risk assessments. Try to get recommendations for coverage or learn more about why you may be having difficulties.

• Contact government officials. Your state’s insurance department may also be able to help you find coverage options. For example, many states, including Texas, have Fair Access to Insurance Requirements (FAIR) Plans intended to help make coverage available in high-risk areas.

Steps to Help Lower Rates

Your insurance rates are based on many criteria, and carriers must thoroughly assess each factor when calculating quotes. When seeking to lower your rates or minimize any increases, consider the following steps:

• Bundle policies, such as by purchasing your home insurance from the same company as your auto coverage.

• Upgrade your home, including installing storm shutters, security systems or a steel roof.

• Consider increasing your deductible.

• Improve your credit score by limiting balances, diversifying your portfolio and keeping up on payments.

We’re Here to Help

Contact Zenitram Insurance Agency LLC in San Antonio, Texas, today to learn more about how to find the right coverage at the best possible rate.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.