Buying a home is usually the biggest purchase individuals make in their lives. Home insurance is based on protecting your property and investment from accidents that can happen at any time. Homeowner insurance provides coverage for damage that can happen to your property and liability for when accidents happen to others on your property.
Most people purchase their home by obtaining a mortgage. If you have a mortgage, you will be required to have homeowners insurance as part of your mortgage agreement.
When talking about insurance, there are multiple covered incidents and there are different coverages with set limits. We recommend talking with someone from our team for an overview and an in-depth explanation of how each can impact you and what is best for you.
Homeowner insurance typically covers:
Structural Damage- Coverage aids in the event your home and/or freestanding structures (garage, tool sheds) are damaged
Personal Property Damage- Coverage will help pay to replace or repair your belongings if damaged in your home after certain incidents, such as fire or lightning
Bodily Injury Liability- If a guest is hurt on your property, your homeowner policy will help with medical costs for which you may be responsible
Property Damage Liability- This will help repair or replace property belonging to someone not living in your home if it is damaged in your home
These types of coverages have set limits in your policy and are completely customizable based on your needs and wants.
Common types of covered incidents:
Note: Flood is not covered and can only be purchased through a government organization. It is the same price regardless of where you get it from, as every agent is giving the policy from the National Flood Insurance Program (NFIP). Depending on where you live, you may need to get windstorm coverage from Texas Windstorm Insurance Association (TWIA).
Homeowner insurance policies are highly customizable in terms of coverage, which makes it easier to create a policy that suits your needs. Our team can help in providing an overview and detailed explanation of what type of coverages there are and what kind you may need for your home considering your investment, risk, and area.
Send us a message or give us a call for a free consultation or review of your policy.