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.