How Does Home Insurance Work in Texas?

Whether you rent residential properties and want home protection, or you need to insure your personal residence, selecting the right homeowner’s policy is essential for mitigating risk. When you get insurance in Texas, there are some important things to know, before you finalize your coverage. Some coverage options are common, while others are not.

According to the Texas Department of Insurance, most homeowner’s policies cover items such as medical payments, personal property, personal liability and temporary living expenses, if you have to vacate your home under special circumstances. There’s also protection for the structural features of your residence.

The two basic types of coverage sold in Texas include all-risk policies (comprehensive) and named perils policies. All-risk policies provide the most protection, while named peril policies only cover the losses of specific causes noted in the policy agreement.  Even with an all-risk policy, not all types of damage or causes are covered.

The losses caused by floods, earthquakes, termites, and mold are not covered. However, your insurance agent can help you mitigate the risks associated with some of these causes, by enhancing your policy options. Having the right insurance to mitigate the risks in your area is critical for the preservation of your home and personal finances.

Getting a homeowner’s insurance policy in Texas is a process that requires careful consideration. You can get a full spectrum of coverage to match your needs and risk profile, but only if you work with qualified insurance professionals that can point you in the right direction. For additional information about home insurance in Plano, TX, please contact Allegiance Insurance Agency today.