CORPUS CHRISTI, Texas — Across the country, insurance rates for homeowners are on the rise.
Higher building material and labor costs means insurance carriers are having to raise premiums in some cases, because it is now costing them more to cover a claim.
It is something that those looking to buy a home will want to pay close attention to and it may take a measure of patience.
Even so, there is perhaps nothing more exciting and more nerve-wracking than purchasing a new home, and it seems that a lot of people here are looking to do it.
"Throughout the whole Coastal Bend, we’ve really started to see things pick up a lot recently," Karo Azali with Azali Homes said. "There’s a lot of new demand and it comes with the new development, especially over here on the Southside."
As a builder, Karo Azali says there is a lot to think about when deciding on where and what to buy.
"So, when they are looking at a new home, we want to make sure that they are not just looking at the house itself, but that they are looking toward their insurance, toward their mortgage, and making sure they get all of those factors in line before they purchase the home," Azali said.
In other words, make sure there are no surprises. That includes knowing how your purchase will be impacted by the cost of having the required insurance.
"I don’t see Insurance being a hindrance to a homeowner, but I do see the rates being a factor in overall monthly payments," Managing Producer at San Jacinto Insurance Leo Duque said.
As someone who has been in the insurance business for 13 years, Duque told 3NEWS that higher prices are a problem everywhere.
"Insurance is expensive for a lot of homeowners, and not just here on the coast, but everywhere in Texas, everywhere in the state, everywhere in the nation," Duque said.
And it’s the higher monthly payments that come with climbing insurance costs that have some wondering whether it will keep them from realizing their dream.
His advice? Don’t fall in love with a house until you spend a lot of time shopping around for a policy that is affordable for you. Then decide whether to move ahead.
"Buying a home is a scary time and insurance is a small portion of that, and it shouldn’t stop someone from wanting to purchase a home here on the coast because it’s a great area," Duque said.