Home Insurance Rating Myths

Waiting to find out your home insurance rating and subsequent premium information can be nerve-racking. The annual or monthly premium amount that you will be charged is so important, it can even mean the difference between buying the home of your dreams and settling for less.

But home insurance rates don’t have to be mysterious and mystical. You can actually get a sense of your potential premium if you know what actually does and doesn’t matter when it comes to premium rating. In order to help you get better acquainted with the rating system, let’s debunk a few myths surrounding home insurance rating.

1. Pets have nothing to do with premium: It’s true that Fluffy, Rover and Goldie may have absolutely no impact on your home insurance rating, but if those names belong to certain breeds of dog, it actually may. Some dogs, with the reputation for extreme owner protectiveness, may be viewed by your home insurance company as a greater potential liability and thus may drive your rates higher.

2. If I’ve had claims, my premiums will rise: Whether you are facing home insurance renewals, or a brand new policy on a new residence, you might automatically assume that your past claims will affect your premiums. In truth, that isn’t always the case. If your past claims indicate that you might be a higher risk due to your lifestyle or behavior, then yes, your rates may be affected. But claims that arise from natural events or incidents you could not prevent or guard against may not affect your rates at all.

3. The claims experience of other homeowners has nothing to do with my rates: Insurance companies must look at you as an individual when underwriting your home insurance policy. They will take into consideration things such as your experience, the age and location of your home and the features of your home (such as swimming pools and outside buildings). In many ways, underwriting a home is like trying to divine the future, and one way to accurately do that is to look at the claims of other homes in the area. While certain owner-specific claims experience isn’t applicable, environmentally prompted claims, as in hurricane or wind damage, can indicate the future claims experience of others in the area.

When planning your home insurance moves and working on budgeting in your premiums, remember that it’s best to deal with concrete facts than hearsay. Contact your agent and talk to him or her about your home insurance rating concerns and let them help you separate fiction from finance-impacting fact.


Let Evans, Ewan & Brady Insurance Agency get you the best rates for your Austin Home Insurance today!

Recovering from a Fire

Putting your life together is difficult after any traumatic event, but after a fire it can be especially challenging. Not only will you need to deal with the emotional aftermath of the event, but you also need to organize the belongings that you have which are salvageable while arranging a place for your family to live for as long as it will take to make your home livable again. When you understand all the steps you need to take after a fire BEFORE it happens to you, you might be better prepared to deal with the aftermath. Here is a list to help you in the event that you are affected by a fire.

1. First, make sure you and your family have a safe place to stay. Make sure you have a place to sleep, clothes to wear and a place to bathe. If you need certain medications that you no longer have access to or you need eyeglasses, prosthetics, food or any other basic living essential, contact your local charitable and emergency management organizations like the Red Cross and they should be able to offer you a temporary supply or contact information to a group that can.
2. Notify your loved ones about where you will be so that they know you are in a safe place. Your fire might make the evening news, and leaving your friends and other loved ones to find out about it that way is probably not a good idea. Make some calls and ask others to spread the word for you so that no one in your circle is unduly concerned about your family’s well being.
3. Do not linger on the premises until you get the all-clear from the police and fire department.
4. Call your insurance company to have an adjuster come out as soon as possible. You should do your best to leave the site intact until the adjuster arrives. Do not sort through the rubble or begin any cleanup efforts until after the insurance adjuster has met with you and completed the list of personal effects that are missing or damaged. You should also give your adjuster copies of any pictures you have of your home and contents taken before the fire.

Read the full story. For more details about how to safely handle yourself after a fire, you can visit the U.S. Fire Administration website.

Call us at 512-869-1511 for more details on home insurance in Round Rock, Georgetown or Killeen Texas.