Protect You & Your Family with Homeowners Insurance
Texas Homeowner’s Insurance
Homeowners Coverage that Provides Peace of Mind
Ownership Insurance can help you find the perfect coverage for you and your vehicle. We’ll also help you understand what types of coverages you might want to consider based on a number of factors such as your family, lifestyle, etc.
Types of homeowners insurance can vary. Ownership Insurance can provide you with the following basic homeowners coverages:
Personal Liability Coverage
Ordinance / Law Coverage
Medical Payments Coverage
Loss of Use Coverage
Additional Structures Coverage
Credit Card Coverage
Texas Homeowners Insurance Information
The average homeowner in Texas is shelling out $3,429 on their homeowners policy for:
- $300,000 dwelling coverage
- $1,000 deductible
- $300,000 liability
Many factors will influence the premiums you pay for your homeowners policy. Some of the more important factors include:
- Local Crime Rates
- Your Home’s Square Footage
- Cost of Building Materials in Your Area
- Location of Your Home and the Likelihood of Natural Disasters occurring.
When shopping for a homeowners policy, Texas homeowners will want to keep in mind:
- When purchasing home insurance, you will want to insure your home based on its replacement cost – not its market value. The amount needed to build a home often outweighs the cost of purchasing a new one so you’ll want to make sure you have enough coverage!
- Liability insurance applies to accidents and mishaps in your home in which you are at fault. The result could be a guest in your home was injured. This personal liability coverage would help cover medical expenses, as well as damage you may have caused to a neighbor’s property. Personal liability coverage will also help cover any legal fees should you be sued, up to your policy limits. Most homeowners policies will come with a minimum coverage amount of $100,000 – which typically is not enough! Most insurance carriers and those in the industry suggest homeowners carry personal lability coverage in their homeowners insurance up to $300,000.
- When building your policy, be sure to select a dwelling coverage limit that allows you to match the cost to repair damage to your home or rebuild it completely at a quality equal to what it was prior to the damage.
- You might be asking yourself – what’s the difference in personal liability coverage and medical payments coverage? As mentioned, personal liability coverage will cover medical expenses for anyone injured in your home when you are considered at fault. Medical payments coverage will cover any medical bills for an injury that takes place in your home or on your property, regardless of who is at fault.
Questions About Homeowners Insurance?
Check out our frequently asked questions from other homeowners in Texas.
Texas law says you must show proof that you can pay for accidents that you cause. Most people do this by buying auto liability insurance. Liability insurance pays for the other driver’s repairs and medical bills. If you still owe money on your car, your lender will require you to have collision and comprehensive coverage to pay for damage to your car.