By: Ramu Garuda December. 04, 2018

In a recent analysis, Gavop explores the net savings from home insurance plans with higher ($2,500) and lower ($500) deductibles in Baytown, Texas. The study shows that homeowners in the city can save as much as $120 in total yearly spending by choosing the higher deductible plan. This citywide calculation is based on a hypothetical claim amount of $700. For the lower deductible of $500, homeowners in Baytown pay a median yearly premium of $460 and incur total yearly expenditure of $960. On the other hand, for the higher deductible of $2,500, these values are $380 and $1,080.

A comparison of these numbers with statewide values reveals that Texas homeowners who opt for the lower deductible plan incur an average yearly premium of $560 and a yearly expenditure of $660. Those opting for the higher deductible plan incur an average premium of $490 and annual expenditure worth $590. For a hypothetical claim amount of $100, the statewide net savings for the higher deductible plan is $70.

In addition, the Gavop study examines home insurance premiums of locations within a 50-mile radius of Baytown. For a hypothetical claim amount of $2,000, homeowners of Southside Place save $1,190 if they choose the lower deductible plan. The yearly premium on this plan is $1,940 and the total yearly expenditure is $2,440. For a $2,500 deductible plan, the yearly premium and expenditure is $1,630 and $3,630.

 In Sugar Land, for the same claim amount, the net savings for the low deductible plan is $1,370. Here, homeowners pay a yearly premium of $750 and incur a total annual expenditure of $1,250. As with the higher deductible plan, these numbers are $620 and $2,620.

 The table below calculates the net savings from home insurance for the two deductible plans against hypothetical claim amounts in 10 locations within a 50-mile radius of Baytown. In addition, it estimates the average yearly premium and the total yearly cost of insurance for the same locations.

		Low Deductible ($500)		High Deductible ($2,500)
Place	Example Claim Amount	Yearly Premium	Total Yearly Cost	Yearly Premium	Total Yearly Cost	Net Savings for High Deductible Plans
Texas	$100	$560	$660	$490	$590	$70
Harris County, TX	$1,000	$580	$1,080	$490	$1,490	-$410
Baytown, TX	$700	$460	$960	$380	$1,080	-$120
Dickinson, TX	$2,500	$560	$1,060	$470	$2,970	-$1,910
Southside Place, TX	$2,000	$1,940	$2,440	$1,630	$3,630	-$1,190
Sugar Land, TX	$2,000	$750	$1,250	$620	$2,620	-$1,370
Holiday Lakes, TX	$1,500	$120	$620	$100	$1,600	-$980
Sienna Plantation, TX	$700	$1,240	$1,740	$1,020	$1,720	$20
Galena Park, TX	$400	$280	$680	$230	$630	$50
Richmond, TX	$400	$480	$880	$400	$800	$80
West University Place, TX	$300	$1,640	$1,940	$1,380	$1,680	$260
Piney Point Village, TX	$200	$2,350	$2,550	$2,000	$2,200	$350
Meadows Place, TX	$200	$730	$930	$620	$820	$110

For more information on Baytown, Texas.  home insurance, click on this link

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