Your home is one of your most prized possessions. It’s most likely one of your most valuable assets; it’s where you eat, sleep, raise your family, and maybe even run a business. In other words, your home is something you want to keep protected. Weather, water damage, crime, and other accidents can wreak havoc on your home and your possessions. No one wants to deal with the impending damage, loss of possessions, and financial burden brought on by these scenarios.
That’s where home insurance comes in. Here are many different homeowner insurance plans to choose from, and Texan Insurance can make sure you get the coverage that best fits your needs so your life can go on when the unexpected occurs. Let’s review some of the basics of homeowners insurance so you have a better understanding of how the policy works.
In basic terms, homeowners insurance will protect you in the event a disaster or an accident affects your home. It will cover the structure itself (your house) along with what’s inside (your belongings).
When it comes to what can be covered, the spectrum is really quite broad. Homeowners insurance can protect you in the case of storms, fallen trees, or res. It covers your loss from burglary and the, and is even your personal liability protection if someone is injured on your property.
Interestingly enough, Texas state laws do not require your home to be insured. Don’t use this as a green light to opt out, though. Many home loans require the purchase of a homeowners’ policy. Plus, it’s an unfortunate reality that accidents and events could very well occur in your home, and there’s nothing like the peace of mind knowing that if one of these events occurs, that you are protected against the loss.
For example, the National Fire Protection Association’s 2017 report reported 358,500 structure fires in the United States per year, while tornadoes, hurricanes, and severe storms cause billions of dollars in property damage each year.
Homeowners insurance goes beyond weather damage, too. When home break-ins occur, insurance is a necessity. Not to worry—our experienced agents at Texan Insurance will help and you a policy that protects your possessions in case of burglary or fire, and will discuss security systems you can install to reduce your rates and add peace of mind.
Lastly, your home insurance also provides you with personal liability protection on your property. Personal liability coverage means your policy will protect against bodily injury and property damage that occurs in your home. These personal liability claims could be medical bills, legal fees, and more. For example, if you throw a party and a guest hurts himself and sues you for.
There are many different types of homeowners insurance, and talking with our agents can help you find the best plan for your needs. Here’s an abridged breakdown of four.
|Fire or lightning|
|Sudden and accidental damage from smoke|
|Windstorm or hail|
(does not cover wind driven rain)
|Aircraft and vehicles|
(not caused by insured resident)
|Vandalism or malicious mischief|
|Riot or civil commotion|
(restrictions apply if off premises)
|Weight of ice, snow, or sleet|
|Sudden and accidental discharge of water or stream|
|Sudden and accidental tearing apart, cracking, burning or bulging of stream or water from water heating system|
|Falling trees or limbs|
|Limited water discharge|
(no seepage or leakage or water back up)
(Rising waters from a source outside of the home)
|Additional water damage protection|
The cost of homeowners insurance may not be as high as you think. However, Texas does have slightly higher rates than other states due to increased weather damage risks. On average, the cost of home insurance in Texas is $1,945 for $200,000 dwelling coverage with a $1,000 deductible, and $100,000 liability. Of course there are a number of factors that impact home insurance rates including the size and age of your home, its proximity to the coast and any updates your house has had to electrical, plumbing or the roof.
There are different deductible options too. Choosing the right deductible is critical to getting the most out of your plan. Your deductible is the amount of money you have to pay out-of-pocket toward damages before your insurance will kick in. For example, say you have a $1,000 deductible and you le a claim for $10,000. Your insurance company would cover $9,000.
You can generally choose two different types of deductible plans: a percentage-based plan and a dollar-amount plan. Generally, your deductible should be as high as you can afford; the higher your deductible, the lower the cost of your premium. Of course, every situation is unique, so we’re here to help you figure out your exact costs to find the best homeowners insurance plan for your needs.
Our agents can work with you directly to explain all aspects of different carriers’ policies. We’ll provide in-depth explanations and offer tips and strategies to choose the right policy and optional additional coverages that would benefit your current situation.