Beaty Insurance offers homeowners insurance to those living in Texas who want to protect their property. Home insurance policies protect against damage caused by things like fires or theft. Let's go through a few common questions we get about this type of insurance and how important it is.
Do I Need Home Insurance in Texas?
Texas law does not require you to get home insurance, but there are situations where you may need to have it. If you use a mortgage to purchase property, the lender providing the mortgage will usually require you to buy homeowners' insurance to help protect the asset.
What is Usually Covered Under Home Insurance?
Home insurance covers damages and losses from specific, one-time events. That includes things like lightning strikes, fires, vandalism, burglary, explosions, and (in some areas) storms. However, these policies don't usually cover long-term damages, such as normal wear and tear from age, pest damage, and water leak damage.
In Texas, traditional home insurance also does not cover certain high-risk events. That includes flooding and storms along the Gulf coast. This requires a separate type of insurance.
Are There Different Kinds of Home Insurance?
Yes, a homeowner's insurance policy can be customized in many different ways to add the sort of coverage that owners want. For example, basic policies tend to cover dwelling damage and some personal property damage. Still, owners can extend the personal property policy to include more replacements (within dollar limits), or to cover additional buildings that are not dwellings, like sheds or separated garages. Home insurance can also be modified with loss of use coverage, personal liability coverage, and more, depending on the specific costs you want to cover.
How Do I Know What My Property is Worth?
Property can be assessed by professionals when getting a mortgage or a home insurance policy. Homeowners should also keep documentation of all their valuable personal belongings and what they cost.
Do you have any further questions about home insurance? Do you want to start putting a policy together that works for your unique situation? Contact Beaty Insurance of Texas today to learn more and get a quote!