The average homeowner's insurance in San Antonio, TX, is $1036 per annum. According to Vhome’s analysis, San Antonio homeowners can save as much as $410 by comparing quotes and reviews from different home insurance companies.
Home Insurance Company Ratings
Home insurance companies are rated on two main criteria, namely financial strength and customer satisfaction. The ratings provided by reputable agencies on home insurance companies will help San Antonio homeowners choose a good home insurance company. For example, State Farm has a financial strength rating of A++ (superior) from A.M. Best and a rating of AA (very strong) from S&P Global.
The insurance quotes provided by two different home insurance companies will never be the same. Agents work with homeowners to create a home insurance policy that meets the requirements of homeowners. Based on the policies, quotes are provided to homeowners. Homeowners are advised to approach multiple home insurance companies to get the cheapest quote.
Home insurance companies tend to provide discounts to homeowners, whose homes are less prone to damage and burglaries. San Antonio homes built with fire-resistant materials earn a $124 discount, whereas, brick and masonry homes get a $62 discount. Homes located close to police departments and fire stations get discounts of up to $41 and $31, respectively.
Processing a Claim
Home insurance companies require proof of loss statements and supporting documentation from homeowners to analyze and issue a claim. Homeowners are advised to choose companies that have 24/7 claim support service, and are swift in processing claims. According to the law, home insurance companies have 40 days to accept or deny a claim.
Post-Claim Insurance Rates
Filing a claim would increase home insurance costs significantly. Vhome’s analysis reveals, home insurance companies increase home insurance costs up to 44% based on claims history. We caution homeowners to be aware of the potential increase in home insurance rates as a result of filing claims.