El Paso, Texas, homeowners can save 25% on their insurance rates
By: Hemanth Ramesh September, 19, 2019
Residents of El Paso, Texas, pay an estimated homeowner's insurance premium of $470 per annum, which is much lower than the national average of $1,228. This is due to multiple factors such as fewer occurrences of crime, better response times from the fire departments, and lower risks of natural disasters. While living in El Paso has its benefits, here are some tips for the city’s homeowners to further lower their insurance rates.
One way is to ensure the property is built using fire-resistant construction material. El Paso homeowners with brick veneer constructions get a 4% discount on their homeowner's insurance and those with masonry constructions get a discount of about 17%. The maximum discount of up to 25% is available to homeowners with homes constructed using superior fire-resistant material.
El Paso homeowners who have never filed an insurance claim are also eligible for discounts as insurance companies view them as safe investments. Such homeowners are given a discount of up to $144. On the other hand, homeowners who have a history of 1 claim might have to pay an additional $93 on their insurance. Those who have filed 2 claims may have to pay an additional $113 on their homeowner's insurance.
Seniors citizens in El Paso get a discount of about $144 on their homeowner's insurance premiums. Installing better safety features can also lower homeowners’ insurance premiums. For instance, installing deadbolt locks can earn homeowners a discount up to $196 and equipping the property with fire extinguishers can lower insurance rates by $196.
Functioning smoke detectors can earn homeowners a discount of up to $144. Sprinkler systems can ensure an additional discount of $93. A discount of up to $78 can be availed for installing fire alarms. Protecting the property with a burglar alarm system can get homeowners a discount of up to $103. Homeowners who have installed a lightning protection system also earn a nominal discount of $21.
Multi-insurance bundling under one company can help El Paso homeowners lower their insurance costs. Those who bundle their home and auto insurance policies can get a discount of up to 10%. Bundling homeowners and life insurance policies fetch a discount of 11%. Finally, bundling all three insurance policies—homeowners, auto, and life—can help homeowners get a discount of up to 20%.
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.
