Homeowners insurance is an important protection for your home, and will pay to replace or repair your home and possessions in the case of an unforeseen event covered by your policy. There are many different types of policies that are obtainable in the state of Texas, and may include the following types of coverage.
Dwelling - Will cover your home itself.
Personal Property - Will cover your personal possessions.
Other Structures - Will cover any other structures on your property not connected with your home, such as a detached garage, storage shed, or barn.
Loss of Use - Will cover your living expenses in case of damage so severe that you must seek other living accommodations.
Personal Liability - Will help defend you against legal action if someone sues you, and will help cover you if you are found legally responsible for someone else's injury or property damage.
Medical Payments - Can help pay the medical bills of someone injured on your property.
In general, most policies will fall under one of two types. All-risk policies, also known as comprehensive coverage, are broad policies which protect against a wide range of perils and may include many of the different coverage types listed above. Named perils, or limited, policies will only cover against a certain defined set of perils. This coverage may be less costly, but will offer much narrower protections. You will want to review your policy carefully so that you are aware of what perils it will or will not cover. Most policies will cover against things such as fire, theft and vandalism.
There are perils that are usually not covered by home insurance, and it is important to be aware of these as well. Most policies will not cover damage due to flooding, insects, and seeping water. If you live on the Gulf Coast, you may also not be covered for wind or hurricane damages in your homeowners policy. If this is the case, then you should consider the risks involved and obtain supplemental coverage if you feel that there is a need.
If you are a homeowner in the state of Texas looking for coverage, please let us know. We would be happy to discuss your options with you and provide a quote.