If you’re shopping for Texas Home
Insurance, you live in a state that’s taken great
steps by creating the Texas Consumer Bill of Rights to protect
you as you compare homeowners insurance quotes. Though
the choice of Texas homeowners insurance companies is still
yours, there are many things you can always count on from every
home insurance company, provided you choose a
Texas Homeowners Insurance
PoliciesThere are three standard policy forms
available for sale in Texas – HO-A, HO-B, and HO-C. Each
includes the following types of coverage:
- Dwelling Insurance – which pays to repair damage or
replace your home or outbuildings after an incident.
- Personal Property Insurance – covering your normal
household items if stolen or damaged, things like furniture
or clothing. (More expensive items, such as jewelry
or computer equipment, may require purchasing extra
- Liability Insurance – if you cause injury to someone
else, or damage their property, there’s $25,000 coverage
included in Texas policies, but again, this may not be
enough, so consider buying an additional amount.
- Medical payments – providing a minimum of $500 to cover
medical bills if someone is injured on your property.
You may want to purchase extra insurance here too, because
everyone knows doctor and hospital bills can add up
- Loss of Use – if you can’t live in your home while
damage is being repaired, this will provide a stipend to
over living expenses. The cap on this is usually 20%
of the home’s insured value.
The amount of coverage and the type of reimbursement is
determined by the type of form policy you purchase.
HO-A is the least expensive type of
insurance, because it limited to the actual cash value of your
home and contents meaning depreciation will be deducted from
the value of each item. This type of policy also
specifically lists what types of damage are covered, which may
leave your home at risk should you experience something not
included on that list.
HO-B requires that you insure your house
for at least 80% of the replacement cost, which includes a
household contents amount of up to 40% of the value of the
home, though contents are only reimbursed at actual cash
HO-C is the most expensive program, but
also gives you the highest level of coverage. This
includes replacement cost of the home, meaning the insurance
company will pay the current cost to repair or replace the
domicile to its original state, regardless of depreciation.
Most Texas insurance policies cover losses caused by theft,
explosions, smoke, and sudden or accidental water damage among
other events. However damage caused by flooding, termites
or vermin, wear and tear, or homes left vacant for 60 days or
more are all among the normal insurance exclusions. One
important caveat in Texas law concerns fire damage; insurance
companies must pay the full amount of the policy, even if this
amount is more than the replacement cost to repair the
Make An InventoryThe Texas
Department of Insurance recommends that each homeowner prepare
an inventory of all of their personal property in order to help
you determine how much insurance is needed as well as what was
lost in case of an incident. The inventory should include
the value of each item, a serial number if appropriate, and
photographs or videos too. Receipts should be kept in a
fireproof place as well.
More Information on Texas Homeowners
InsuranceTo learn more about home insurance in
Texas, contact the Texas Department of Insurance at
Time To Get StartedIf you are
ready to start shopping for rates on home insurance, just enter
your zip code and you’ll be immediately matched with Texas home
insurance providers in your area. Start now and get the
protection you need at a price you can afford.