Owning a home is one of the biggest investments you'll make in your life, so you'll want to protect that investment as much as possible. One of the best ways to do that is through homeowner insurance. If you have a mortgage on your Texas property, your lender will likely require you to have at least a minimum amount of coverage. Even if you own your home outright, it is still a good idea to maintain adequate homeowner insurance coverage for your property.
Homeowner Insurance Basics
Homeowner insurance will protect you in a variety of scenarios. For example, if your home is damaged in a fire or storm, your insurance coverage will pay for the repairs to your home after you have met your deductible. Homeowner insurance will also protect you in the event that a guest or passerby is injured while on your property, providing for their medical expenses and ongoing pain and suffering.
Additional Homeowner Insurance Coverage
Mortgage lenders typically only require basic coverage, but you'll have a variety of options to choose from to enhance your coverage beyond these minimum requirements. In addition to the standard coverage for the structure of your home and personal liability, you can also include coverage for the contents of your home, including furniture, appliances, artwork, jewelry and more.
For especially expensive items, like fine art, engagement rings and valuable family heirlooms, you can add additional coverage for those individual items. Finally, you can add coverage for earthquakes, storms and other natural disasters, as these events aren't typically covered under a standard homeowner insurance policy.
Setting Your Deductible
The final option you'll need to consider when creating your Texas homeowner insurance policy is your deductible. This is the amount that you'll have to pay out-of-pocket before your policy covers the remainder. Typically, the larger your deductible, the lower your monthly premium. You'll need to evaluate your budget to determine the amount that makes the most sense for your needs. You can always adjust the deductible at a later date if your financial situation changes.
Get the Coverage You Need Today
Here at Hart Insurance Group, we have helped countless homeowners across Texas with their homeowner insurance policies, and we will be happy to assist you as well. Get in touch with us today at 281-419-1656 to learn more about our coverage options.