Home Insurance
Home insurance is crucial when owning a home, you must make decisions based on foreseeable and unpredictable events that could affect your home. There are several types of policies designed for that cause. Depending on the type of homeowners insurance policy you are looking for, it is the amount of coverage you purchase for the interior and exterior of your home.
The State of Texas offers surprises throughout the year in the form of storms, hurricanes, tornadoes, wildfires, windstorms, hail, etc. In addition to Mother Nature, theft and vandalism make you vulnerable. As one of your most valuable investments, you want to make sure your home is well covered in the event of any of these things happening.
Common Texas homeowiners insurance terms
- Coverage A- Housing
The cost of rebuilding or repairing in the event of a peril covered by the insurance policy you purchase; usually wind / hail, lightning and fire. * (Note: Earthquake and flood insurance will require a separate endorsement or policy. Talk to an agent today about earthquake and / or flood insurance).
- Coverage B- Other structures on your property
Other structure on your property, such as detached garages, buildings, or sheds on your property, are also protected by a standard homeowners policy. Coverage for other structures is typically 10% of your home coverage, although higher amounts are available if you want to purchase them.
- Coverage C- Personal Property / Contents
Coverage comes standard with a homeowners insurance policy and protects your items inside your home or on your property in the event they are stolen, lost in a fire, or damaged by a covered loss. These items include, but are not limited to, clothing, furniture, and other personal household items.
- Coverage D- Loss of use
Coverage will provide living expenses in the event that your home is rendered unlivable due to a covered loss. This coverage will generally cover the cost of a hotel, apartment rental, or other living expenses while your home is being repaired.
- Coverage E- Personal Liability Protection
Pays to defend you in court against lawsuits. It also provides coverage if it is determined that you are legally responsible for someone else’s injury or property damage.
- Coverage F- Medical payments
Medical Payments Pays medical bills for people injured on your property. It could also pay for some injuries that happen outside of your home, like your dog biting someone in the park. A basic homeowners policy pays $ 500 in medical bills, but you can buy up to $ 5,000 in medical payments coverage. * Not all policies cover dogs.