Dallas homeowners can lower home insurance rates by improving their home security measures
By: Hemanth Ramesh September, 11, 2019
According to a Gavop study, homeowners in Dallas, Texas, pay an average homeowner's insurance rate of $580 per annum. Dallas experiences about 4,381 robberies annually and more than 43,421 crimes target properties annually. Generally, higher crime rates translate into higher insurance costs. The neighborhoods in the Dallas metropolitan regions are statistically much more safer. In particular, Frisco, Double Oak, and West Mckinney have been identified as the safest neighborhoods to live in.
Dallas is the ninth most populous state in the United States and is mainly divided into Central, East, and South Dallas. About one-third of Texas’ residents live in the metropolitan area of Dallas.
According to the year-end crime statistics, 168 murders were reported in Dallas in 2018. About 92% of the Texas neighborhoods have a lower crime rate than those in Dallas. Violent crime statistics significantly vary by neighborhood: economically developed areas and those with higher education levels tend to have lower crime rates.
Five Points has the highest crime rates according to information released by the Dallas Police Department. Forest-Audalia Grid is another neighborhood considered dangerous, with small businesses and properties in the area being frequent targets for robberies. The neighborhood saw a 5 percent increase in property crime, including residential burglaries, which surged by 11 percent between 2015 and 2016.
University Park, by contrast, is one of the safest neighborhoods in Dallas, where a typical home value is $231,848 and the replacement cost is $239,496. University Park also has the highest education rate; more than 80% of its residents have at least a bachelor’s or higher degree. Bluffview has the lowest average home value at $12,600. Lakewood and Reunion Districts, on the other hand, report the highest home values and replacement costs of $1,000,001 and $1,120,000.
Gavop research reveals that Dallas homeowners can lower their homeowner's insurance costs by enhancing safety features on their properties. In addition to improved security, better safety features helps lower home insurance rates. For instance, installing deadbolt locks can earn Dallas homeowners a discount of $147 on their homeowner's insurance. Homes with burglar alarms (e.g., smart alarm sensor, indoor and outdoor cameras, smart locks, and sky control panel) are considered for an additional discount of $189. Fire extinguishers give Dallas homeowners a discount of about $168.
ABOUT THE AUTHOR
Hemanth Ramesh
Hemanth Ramesh works as a writer for Gavop. He has previously written content for film promotions, start-ups, advertising agencies and event management firms. Hemanth Ramesh completed his MA in Journalism and Mass Communication from The English and Foreign Languages University. His other passion includes script writing.
