Shopping for Texas home insurance can be confusing. For starters, in Texas home insurance is commonly referred to as hazard insurance, which is confusing to many people when they first move to the Lone Star State. In addition to the terminology involved, Texas home insurance from texasinsurancequotes.com is available with many different coverages and riders that can affect what is insured and for how much, so it’s easy for buyers to become lost in the fine print.
First, Get Your Info Ready
If you’re ready to start shopping for Texas home insurance, you should gather some information in order to be ready to speak knowledgably to an insurance agent. Useful information when inquiring about Texas home insurance includes your address, zip code, the year it was built, the square footage of the home, whether it has a freestanding or attached garage, how many stories is has, what sort of heating and cooling system it uses, whether it has an ornamental fireplace or other wood burning appliance, what kind of material the roofing is made from, and how long it’s been since the last roofing was applied, and whether or not is has a swimming pool.
It’s also useful to know what type of construction was used in building your house; for instance, is it made of brick, or is it wood framed? Does it sit on a concrete slab, or does it have a basement or crawl cellar. If your home has any special finishes or construction that would have a large impact on the value of a claim, it should be disclosed when shopping for prices to avoid any nasty surprises later.
Texas Home Insurance Covers Your Possessions, Too
When shopping for Texas home insurance, it’s also useful to have an overall listing of the possessions that will be insured. Texas home insurance policies cover your belongings as well as the structure of your house, and if you collect valuable items, or own something that’s irreplaceable, you should have it listed on something called a floater.
Flood Insurance Is A Separate Policy
Texas home insurance covers almost anything that happens to your house or your possessions, but there are exceptions. Flood insurance is one form of insurance that few homeowners understand until it’s too late. True flood insurance is a federal program that covers damage to your home in the event of a flooding natural disaster. It is the only insurance that does so.
A standard Texas home insurance policy cover you if there’s a flood in your home because of a broken water pipe, a leaky water heater, or if a tree branch falls on your roof and allows water to enter. It doesn’t cover you at all for damage that occurs during a federally declared flood emergency. While it’s possible to purchase flood insurance on the private market, it’s very much more expensive than purchasing it through the federal government.
The Minimum Might Not Be Enough
Your bank or mortgage company will make you insure your house for at least the actual replacement cost of your home in the event of a total loss, but you’ll probably want to get additional coverage for your belongings, and for the cost of relocation during the time when a catastrophic event made your home unlivable until it’s repaired or rebuilt.