Why Have Home Insurance in Texas?
If you have already paid off your home, you may not be required to have home insurance. However, there are several benefits and coverage options you can have to protect your investment.
Home Insurance Coverage Options in Texas
Many home insurance policies will come with different coverage options. It’s important to understand what each coverage means to make sure you are fully protected. An agent at The Dollar Agency Inc. can help you find the right coverage.
- Dwelling Coverage: This protects your actual home and any structures that are attached to it. It also protects the home's inside to include walls, flooring, heating, and air conditioning. You want to have enough coverage that your home can be rebuilt at the current costs. This can be different from the market value of your home.
- Other Structures Coverage: If you have other structures on your property, such as a detached shed or garage, you want this coverage to protect from things, including falling objects, vandalism, and fire. It may even be able to cover your swimming pool.
- Loss of Use: This portion will help cover extra expenses you have when you aren’t able to live in your home, and it’s being fixed after a covered disaster. This can cover the cost of restaurant meals or hotel stays.
- Personal Property: This protects personal belongings in the home, such as clothing, electronics, and furniture. Keep in mind that there will be limits, and you want to make sure that you do a home inventory to ensure you are getting enough coverage. Valuables, such as jewelry, may need additional coverage.
- Personal Liability: This portion covers your legal defense against a lawsuit or other liability claim. It can pay for damages that you are held responsible for. For example, if your neighbor trips on your step and gets injured, this covers the claim's cost.
- Medical Payments: This portion will pay for costs associated with others' injuries on your property, whether you are legally responsible or not.
Contact The Dollar Agency Inc. to get a quote on home insurance.