In Victoria, Texas, the Cheapest Home Insurance Quotes Differ by $323 Based on the Type of Construction
By: Ramu Garuda October. 09, 2018
Gavop’s recent study of home insurance premiums in Victoria, Texas, shows that the cheapest premiums for both brick and stucco construction houses are offered by the same firm: Allstate Vehicle and Property Insurance Company. For brick houses, the premium value is $2,384, while for stucco, it is $2,707 – a difference of $323. Some of the other home insurance providers offering low-end premiums for both kinds of constructions are Texas Farmers Insurance, National Specialty Insurance, Metropolitan Lloyds Insurance Company of Texas, and American Bankers Insurance Company of Florida.
The data for this survey comes from the Texas Department of Insurance. Home insurance premiums are influenced by multiple factors such as the age of homes, coverage, and claims history. For an equitable comparison of premiums, Gavop considered 35-year old homes, with one fire claim, a coverage limit of $350,000 and with wind mitigation features.
As mentioned above, Allstate offers the cheapest premiums for both types of constructions. National Specialty offers the second cheapest rate for brick at $2,605 and the third cheapest for stucco at $2,976 ($371 more than their rate for brick houses). Texas Farmers Insurance offers the second cheapest for stucco at $2,731, and it is third in the list of cheapest companies for brick. For brick houses it offers a premium of $2,705 – less by $26 than stucco.
The image below shows the five cheapest home insurance premiums for brick and stucco construction houses in Victoria, Texas.
A similar analysis of the high-end premiums shows that the same companies occupy the top five spots for both types of construction. The most expensive company is Liberty Insurance. For stucco houses it offers a premium of $22,294, and for brick it offers $19,490 (less by $2,804). In the second position is Unitrin Safeguard Insurance. For stucco and brick houses, it offers identical rates of $13,816. Encompass Indemnity is in the third position. For stucco, it offers a premium of $13,658, while for brick, the premium is $662 less at $12,996.
The image below is used to show the five most expensive home insurance premiums for brick and stucco construction houses in Victoria, Texas.
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ABOUT THE AUTHOR
Ramu Garuda
Ramu is a research analyst with over 9 years of analytics & research experience. Prior to joining the company, he worked with some of the prominent consulting and market research firms in India, including Pride Technology (Supporting consulting projects to PWC), RR Donnelly, and The Hackett Group. His skills include company profiling, benchmarking, data and trend analysis, industry analysis, and report writing across the industries. Ramu holds a Master’s degree in Finance and Marketing. He also has a bachelor’s degree in Biotechnology.
