Bosworth & Associates 1818 W SW Loop 323 Tyler, TX 75701
GET YOUR FREE QUOTE NOW(903) 561-2621
Our homes are more than just a roof over our heads. Whether we own our home or rent, your home is your sanctuary. It’s where we go to be with our families, our pets, and the possessions that give us joy and meaning.
If you own your home, your home and property may also be an investment—an asset of value for you and your family. Our homes are where we keep our valuables—the items that are both emotionally and financially valuable to us.
How do we make sure that these spaces and items are protected in the event of the unexpected?
Like medical insurance, car insurance, life insurance, and other types of insurance policies, home insurance and renters insurance provide financial coverage for you, your home, and your valuables in the event of a disaster.
Trusted local insurance providers, such as Bosworth & Associates in Tyler, Texas, provide a range of insurance policies to fit your unique life situation.
When it comes to purchasing coverage to protect your home and valuables, a homeowner’s policy and rental insurance serve basically the same purpose—to ensure your home and valuables are protected in the event of an unexpected emergency.
Especially with the rise in weather-related catastrophic events in Texas and elsewhere, having the peace of mind that you’re financially protected in the event something happens to your home is priceless.
When it comes to the cost of homeowners vs. renters insurance, homeowners insurance can be more expensive because it covers both the structure and the contents in the event of an incident.
Many details impact the cost of your homeowner’s insurance:
You also might pay a higher premium if you live in an area that’s prone to natural events such as wind and hail, flooding, hurricanes, earthquakes, etc. This is also true if your home is located in an area known for higher incidents of crime and break-ins.
Are your home and assets very valuable? If so, you will pay more for your insurance to make sure your valuables and home can be replaced in the event they’re damaged or destroyed.
You can have some control over the cost of your insurance by having a good credit score and making sure your home is outfitted with important safety features such as smoke detectors, water cutoff systems, a state-of-the-art security system, and fire prevention measures. Talk to your insurance agent about other ways they might offer to lower the cost of your insurance premiums.
If rather than owning your home, you rent a home, apartment, or condo, you will want to invest in renters insurance. Many people may assume that they don’t need insurance because they don’t own their home. However, that puts you at risk in the event something happens to your rental home and its contents.
Renters insurance covers not only your home’s valuables but also provides you with liability coverage. Liability coverage is important for numerous reasons, namely, to keep you from being forced to pay out of pocket in the event there are issues with your rental.
When it comes to the cost of your renters insurance, the premium amount is impacted by mostly the same factors as those that influence homeowner’s insurance: location, credit score, age of the home, value of contents, claim history, and so forth.
Like homeowner’s insurance, the location of your rental makes a difference in how much your premium is. If your rental home is in an area at high risk for environmental disasters or is in a high crime area, you will most likely pay more.
If your home’s contents are valuable and need to be covered at a higher amount, you will need to pay more for your insurance coverage.
There are other things that can also impact what you pay in coverage, whether you’re paying for rental or homeowner’s:
Whether you’re a homeowner or a renter, it’s necessary to have solid insurance coverage in place in the event of an emergency. Contact your East Texas insurance agency today and make sure you have the coverage you need.
