When you have found that perfect Texas home, you want to be sure to protect your property and the belongings held inside with the best home insurance in Texas. The right insurance for your property will ensure that you are covered for potential damages, theft, and more.
What is Texas Home Insurance?
Homeowners insurance is a safeguard purchased to protect yourself financially should your home or property become damaged or destroyed in an even that is covered by the policy. In a case of a covered event, your Texas homeowners insurance will pay for the repair, rebuild or replacement of your home or belongings.
What coverages are typically in Texas homeowners insurance policies?
Many policies that can be purchased for Texas homeowners include coverages such as:
Dwelling: Coverage for when your home is damaged or even destroyed by a covered loss.
Personal Property: Pays in the event of damage, theft, or total destruction of items contained in your homes, such as your furniture, clothes, or appliances.
Other Structures: Pays for any repair or rebuilding of structures that exist separate from your home, such as a garage, shed or fence.
Loss of Use: Helps to ensure you can pay living expenses such as housing, food, or other essential expenses should you need to leave your home temporarily due to a covered expense, such as during a repair or rebuild.
Personal Liability: Helps you should you find yourself needing to defend yourself in court should you be accused of another person's injury or property damage sustained on your property.
Medical: Pays on medical bills of individuals hurt on your property.
What types of Texas home insurance policies are available?
There are two different policies that are available to those living in Texas, although options within plans may vary from company to company.
All-Risk Policies: Otherwise known as comprehensive coverage or open perils, all-risk policies cover all forms of loss unless specified by the plan.
Named Perils Polices: This policy type has a narrower range of covered losses, and only specifically named losses are covered by the plan.
It is important when shopping for plans to understand the difference between replacement cost and actual cash value. If your policy is replacement cost, your plan will pay what is necessary to rebuild your home based on construction prices. This amount is different than the market value of your home and does not include any land value. Actual cash value is what you would be paid should you need to rebuild or replace property, minus any depreciation, which is a decrease in value that occurs with wear and age. This is an important distinction, as actual cash value may not be enough to completely rebuild your home.
Why use your company for my Texas homeowners insurance needs?
When you are ready to compare TX home insurance quotes, we are uniquely poised to help you meet all of your coverage needs. As an independently owned insurance company, we can discuss your coverage with multiple insurance agencies, allowing us to find the best plan at the best cost. Understanding that coverage costs can vary greatly between companies is essential, especially when you are searching for cheap home insurance in Texas. If you have any more questions regarding your homeowner's insurance, please talk to a representative today.