Homeowners Insurance in Texas
Also providing insurance to residents in Colorado, Kansas, New Mexico, and Oklahoma
What is homeowners insurance?
For most people, there’s no larger purchase they’ll make than their house. There’s likely also no asset that’s more worth protecting than their house. Homeowners insurance can help Texas residents protect those valuable houses.
Homeowners insurance provides tailored coverage for a residence. Policies are available for many types of homes, and usually also protect belongings and the policyholder.
Who in Texas should have home insurance?
Most Texas homeowners should purchase home insurance for their residences. Few could afford to replace their house should it ever be damaged beyond repair, or even just need significant repair.
Homeowners who have outstanding mortgages are usually obligated to carry at least enough home insurance so that the outstanding balance on the mortgage is covered. It’s generally recommended to carry much more coverage, so any equity in the house is protected. This doesn’t take into account other protections homeowners might need for their possessions or themselves.
Get A Quote
What protections are available through home insurance policies?
Home insurance policies normally come with a variety of coverages, which together may protect the residence, personal items, the policyholder and their family, and more. Some of the most common protections that homeowners get are:
How well does personal property coverage protect valuables?
The amount of protection that a homeowners policy’s personal property coverage provides for valuable items depends on that policy’s terms and conditions, as well as the valuables in question.
Many policies have restricted limits for valuables. Coverage for firearms, jewelry, artwork, collectibles, electronics, and similar items can be limited to only a few hundred or few thousand dollars. Such limits are normally specified in the policy’s personal property coverage.
Homeowners who have items of substantial value may find that any such limits are less than what certain items are worth. An engagement ring’s value alone might exceed a policy’s jewelry limit, or a collection of rifles together might exceed a firearms limit. Either a single item or a collection of them could have monetary worth beyond what’s offered as standard protection.
When valuable items exceed specific limits, homeowners usually have a few options to explore. Good options are usually to either purchase an endorsement or look for scheduled personal property coverage.
An endorsement normally provides narrowly defined coverage (e.g. for a ring or rifle collection) for a nominal additional fee. Scheduled personal property coverage normally allows homeowners to list their high-value items so that limits can be tailored to provide sufficient coverage. Occasionally, finding a new homeowners policy might be necessary.
An insurance agent who specializes in homeowners policies can help sort through how best to cover high-value goods.
What are the different types of HO insurance policies?
Homeowners policies are available for almost all types of homes, and there are accordingly a diverse number of homeowner policies. Certain types of policies are often abbreviated as HO-X. The following are some of the most common policies and their corresponding abbreviations:
How can Texas residents get homeowners insurance?
If you need help insuring a home in Texas, contact the independent insurance agents at Kirk Insurance Agency. Our agents will work closely with you to find homeowners insurance that protects your house, your possessions and you well.
