A West Texas Guide for Homebuyers Reviewing Their Insurance Options
Buying a new home in Midland or Odessa, Texas, is an exciting milestone.
Between working with your Realtor, mortgage lender, and title company, there are plenty of details to manage before closing.
One of those details is homeowners insurance.
But while you’re reviewing insurance for your new home, there’s another question worth asking:
When was the last time you reviewed your auto insurance?
For some homebuyers, purchasing a home can be a convenient opportunity to review both policies together.
Short Answer
If you’re purchasing a home in Midland or Odessa, consider comparing your homeowners and auto insurance options at the same time.
Some insurance companies offer multi-policy discounts to eligible households that place qualifying home and auto policies with the same company.
However, bundling doesn’t automatically provide the lowest total premium or the most appropriate coverage for every household.
The goal is to compare available options based on your individual insurance needs.
1. Buying a Home Creates an Opportunity to Review Your Insurance
When purchasing a home, you may already be gathering information about the property and requesting homeowners insurance quotes.
This can also be a convenient time to review your existing auto insurance.
Your household may have experienced changes such as:
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A new home address
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A different vehicle garaging location
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Additional household drivers
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Changes in vehicles
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Other changes that may affect your insurance needs
Consider notifying your insurance agent or company of relevant changes so your insurance information can be reviewed and updated when appropriate.
2. What Does Bundling Home and Auto Insurance Mean?
Bundling generally refers to placing multiple insurance policies, such as homeowners and auto insurance, with the same insurance company.
Depending on the company and eligibility, qualifying households may receive multi-policy discounts or other available benefits.
However, discounts and underwriting requirements vary.
A bundled option should be compared with other available arrangements rather than assuming it will always be the best choice.
3. Compare the Total Premium, Not Just One Policy
When comparing home and auto insurance, consider the overall cost of both policies.
For example, one insurance company may offer a more competitive homeowners premium while another may offer a different auto premium.
Comparing the total cost alongside coverage, deductibles, and policy provisions can help you better understand the differences.
A lower premium doesn’t necessarily mean two policies provide the same coverage.
4. Understand Your Home Insurance Deductibles
Homeowners insurance deductibles are particularly important to review in West Texas, where wind and hail are familiar concerns.
A deductible is generally the amount or percentage that may apply to the insured’s portion of a covered loss, subject to the terms, conditions, and provisions of the policy.
Depending on the policy, different deductibles may apply to different types of losses.
When comparing home insurance quotes, review the deductibles and applicable policy provisions rather than focusing only on the annual premium.
5. Review Your Auto Coverage at the Same Time
If you’re already reviewing homeowners insurance, consider looking at your current auto policy information as well.
Depending on your individual circumstances, areas to review may include:
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Liability limits
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Comprehensive and collision coverage
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Deductibles
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Uninsured/underinsured motorist coverage options
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Personal injury protection options
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Rental reimbursement
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Roadside assistance
Coverage availability, pricing, and policy provisions vary by insurance company.
6. Don’t Assume Bundling Is Always the Best Option
Some households may find attractive home and auto options with one insurance company.
Others may find that different companies offer options better suited to their circumstances.
Insurance eligibility and pricing depend on multiple factors, including property characteristics, vehicles, drivers, selected coverage, and underwriting requirements.
An independent insurance agency can help discuss available options through the companies it represents.
7. Start Before Your Closing Date
If you’re buying a home, consider beginning the homeowners insurance process once you’re under contract and have sufficient property information.
Insurance companies may request additional underwriting information, and mortgage lenders may have specific insurance requirements.
Starting early may provide more time to address questions and coordinate information before closing.
If you also want an auto comparison, having your current auto declarations page available can help begin that discussion.
Home & Auto Insurance for Midland and Odessa Homebuyers
At Killebrew Insurance LLC, we work with families throughout Midland, Odessa, Midland County, Ector County, and surrounding West Texas communities.
As an independent insurance agency, we represent multiple insurance companies.
If you’re purchasing a home, we can review the information you provide, answer questions, and discuss available home and auto insurance options through the companies we represent, subject to eligibility and underwriting requirements.
Frequently Asked Questions
Should I compare home and auto insurance when buying a house?
It may be worthwhile. Some eligible households may qualify for multi-policy discounts, but pricing, coverage, eligibility, and available discounts vary by insurance company.
Is home and auto insurance always cheaper when bundled?
No. Bundling may offer advantages for some households, but the total cost and available coverage should be compared rather than assuming a discount automatically produces the best option.
Can my new home address affect my auto insurance?
It may. Insurance companies consider various rating and underwriting factors, which can include location and vehicle garaging information. The impact varies by company and individual circumstances.
Do I have to use the same insurance company for my home and autos?
Generally, no. Home and auto insurance may be placed with different companies, subject to applicable eligibility and other requirements.
Can Killebrew compare my home and auto insurance together?
Killebrew Insurance LLC can review the information you provide and discuss available home and auto options through the insurance companies we represent, subject to eligibility and underwriting requirements.
Buying a Home in Midland or Odessa? Let’s Review Your Home & Auto Options.
If you’re purchasing a home, consider having your current auto insurance information available when requesting homeowners insurance options.
We’d welcome the opportunity to help you review your insurance needs before closing.
Killebrew Insurance LLC
Midland: 432-694-0508
Odessa: 432-332-6322
Email:
Website: www.killebrewinsurance.com
Helpful Resources
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Texas Department of Insurance — Consumer information about home and auto insurance, deductibles, and shopping for coverage.
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Consumer Financial Protection Bureau — Educational resources about purchasing a home and preparing for closing.
Important Insurance Information
This article is provided for general educational purposes only and is not intended to provide specific insurance, legal, mortgage, or financial advice. Coverage, pricing, discounts, eligibility, underwriting requirements, policy provisions, and claims handling vary by insurance company, policy, and individual circumstances. Mortgage and closing requirements may also vary. Review your individual insurance needs and policy documents with a licensed insurance professional and confirm specific lender requirements with your mortgage company.
