Your Texas home is not sufficiently packaged if it does not come with a home insurance policy. If you bought your home through a mortgage, then home insurance must have been a critical requirement when signing the agreement. What does that mean?
Home insurance is an essential policy that covers both liability and damage to your property. That is why Dina King Insurance recommends buying adequate home insurance to protect your family and property.
What is home insurance?
Home insurance consists of coverages that could help repair your entire home and replace damaged or lost personal belongings in cases of peril, such as theft or fire. It also pays legal responsibility for property damage or injuries that you or your family members cause on other people.
What is covered
Most of the damages caused by disasters are covered, but there are exceptions, such as flooding and earthquakes. If you suspect that you live in a high-risk flood area, make sure you have separate flood insurance to protect your home against damage caused by water. A basic homeowners insurance covers the following:
- The structure
- Other structures
- Personal belongings
- property liability
- bodily injury liability
- Additional living expenses
How are insurance rates determined?
Home insurance rates vary from one policyholder to another. Even if you and your neighbors bought similar houses from the same property owner, your rates would be different. Different insurance companies use different criteria to determine premiums, but they all revolve around unique factors. They include:
- Your home's location
- The neighborhood
- The level of claims in the area
- The number of people living in your home
- The presence of a swimming pool, trampoline or home office
- The age and size of the house
- The material used to construct the house
While insurance companies in Texas are there to pay your claims, they also want to make money. The lesser the claims, the better for the insurer. Still need more information about home insurance? Speak to any Dina King Insurance insurance expert today.