As a Houston Farmers Insurance agent I get to frequently compare homeowner's insurance policies from different companies. There is no single company that always has the lowest rates. Every insurance agency uses a rating system that considers factors like the homes age, value, location, construction, and features. Also rated can be the owner's age and possibly their credit rating and other factors. The end result is that the company that offers the best rate for one home may not offer the best rate for a nearby homeowner.
In general the lowest rate will be with the company that offers the least amount of coverage. I would not suggest shopping for the policy with the smallest amount of protection for an important asset!
The most basic policy could be a dwelling policy that covers the home for fire and a few other basic perils. Contents may not be included with this type of policy. Next would be a HO-A policy that provides very limited actual cash value for your home and contents. Only types of damage specifically listed on the policy would be covered. Next would be a HO-A amended policy. This usually has a higher level of coverage. Coverage could be upgraded to replacement value and coverage for other perils like "sudden and accidental" water discharge could be covered. HO-B and HO-C provide more extensive coverage. Most companies in my area no longer offer B and C policies since the mold damage issues from a few years ago.
For many people a good HO-A amended policy will be a good way to go. I would suggest getting quotes from 2 or 3 reputable companies. Make sure the coverage's have the protection you want. Replacement cost valuation is an important feature to have. You can often expand the liability part of the policy for a small up-charge and I recommend taking the max which is usually around $500,000. Also have your agent explain optional coverage's. Options would be things like extra protection for high dollar jewelry, coin collections, gun collections, etc...
For any consumers in Texas I would be happy to give you a quote at 281-537-2700 or .
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