In Texas, damages to your property and your home can be covered by homeowners insurance. It is important to understand the coverage that you have in your policy to know that you’ll be covered in case of an unavoidable disaster.
Your home is a big investment. Having the right insurance coverage can be lifesaving if you need to replace the things you have lost. There are two basic types of coverage for Texas homeowners.
- All-Risk Policy can offer you general protection in the event of a loss except what is excluded. For example, usually things that are excluded are damage occurring during wars, earthquakes, floods, wear and tear issues, and pollution. Talk with your agent to request additional coverage if you are in an earthquake or flood zone.
- Named Perils Policy gives the owner coverage during specifically named events in the policy, such as vandalism, burglary, or storms.
There are several advantages to purchasing homeowners insurance.
- You may be covered against lightning, fire, explosions, theft, vandalism, hurricanes, riots, and accidental water damages.
- You may receive temporary living expenses if your home is unlivable after damages.
- Personal property, including furniture and clothing may be covered under your homeowner’s policy. Anything that is of great value may need to have additional coverage. Check with your local agents at State Insurance Solutions to avoid a permanent loss of your valuable items.
- There are two choices for replacement coverage:
- Replacement cost – the cost to replace your items. This can include the cost to rebuild your home.
- Actual cash value – the value of the items at the current market price. You may not receive enough to rebuild if your home was completely destroyed by a storm.
You can always ask your agent to explore more options about homeowner’s insurance. State Insurance Solutions are independent insurance agents in Arlington, Texas. If you are looking for new homeowners coverage or would like to explore further options with your existing coverage, contact the agents at State Insurance Solutions.