Home sweet home. Let's protect it.
From your first house to your forever home, here's what Texas homeowners should know about insurance, storm coverage, deductibles and protecting the place they call home.
You've got the keys.
Let's talk coverage.
A house is a pretty big deal. Whether you're buying your first home in Austin, settling into the suburbs of Dallas or enjoying life along the Gulf Coast, protecting it matters.
Here's what Texas homeowners should know about insurance, from the basics to those very Texas weather surprises.
What does homeowners insurance cover?
A homeowners policy typically combines several types of protection. Each serves a different purpose.
Your house itself.
Helps pay to repair or rebuild your home after damage caused by a covered event, such as fire or certain storms.
Beyond your front door.
Can help cover detached garages, fences, sheds and other qualifying structures on your property.
All your stuff.
Helps protect furniture, clothing, electronics and other belongings against covered losses.
When home isn't an option.
May help cover additional living expenses if a covered loss makes your home uninhabitable.
When accidents happen.
Can help if you're legally responsible for another person's injury or damage to their property.
For smaller accidents.
May help pay certain medical expenses when a guest is injured, regardless of fault, subject to policy terms.
Is homeowners insurance required in Texas?
Texas law doesn't require homeowners insurance. But if you have a mortgage, your lender will generally require it.
What's usually not covered?
Your homeowners policy does a lot, but it doesn't cover every possible kind of damage.
Rising water.
Most homeowners policies exclude flood damage. Separate flood insurance is generally needed.
Getting older happens.
Insurance generally doesn't cover routine maintenance, deterioration or repairs needed simply because something is old.
Ground rules.
Earthquake and certain other earth movement damage are generally excluded.
Uninvited roommates.
Damage from termites, rodents and other pests is generally considered a maintenance issue.
What about water damage?
Sudden, accidental water damage from something like a burst pipe may be covered.
Gradual leaks, flooding and certain types of water damage may be excluded or limited. Check your policy carefully.
Sunshine today.
Hail tomorrow.
Texas homeowners face a wide range of weather risks. Where you live can make a big difference in the coverage you need.
Wind & hail
Many homeowners policies cover wind and hail, but coverage and deductibles vary. Some coastal properties need a separate windstorm policy.
Hurricanes
Along the Gulf Coast, hurricane damage may involve separate wind and flood coverage. Check both before storm season.
Flooding
Flooding can happen outside designated high-risk flood zones. Consider whether a separate flood policy makes sense for your home.
Wildfires
Fire is generally a covered peril, but coverage availability, pricing and requirements can vary by location and insurer.
Let's talk percentages.
A deductible is the amount you pay toward a covered claim before your insurance payment is calculated.
Some Texas policies have a separate wind and hail deductible expressed as a percentage of your insured dwelling amount.
Here's an example.
Your home is insured for $400,000. Your wind and hail deductible is 2%.
Your deductible: $8,000.
If you have $20,000 in covered storm damage, your insurer would generally pay $12,000 after the deductible, subject to policy terms.
Always check whether your policy has different deductibles for different types of losses.
Think rebuilding cost. Not listing price.
Your home's market value and the cost to rebuild it aren't the same thing.
Dwelling coverage should reflect the estimated cost to rebuild your home using current labor and materials, subject to your policy's terms.
Current rebuilding prices.
Pays eligible repair or replacement costs without deducting depreciation, subject to policy limits and conditions.
Depreciation counts.
Pays the replacement cost minus depreciation. That can mean a larger out-of-pocket expense.
Don't forget your belongings.
Take photos or videos of your furniture, electronics, appliances and other possessions. A home inventory can make a future claim much easier.
Let's find the right fit.
Insurance prices depend on factors such as your home's location, age, construction, replacement cost and claims history.
Comparing policies means looking beyond the monthly payment.
Make sure quotes include comparable dwelling, personal property and liability coverage.
Pay special attention to wind, hail and hurricane deductibles.
Bundling, protective devices, qualifying roof improvements and other factors may help reduce your premium.
Renovations, construction costs and life changes can affect how much insurance you need.
Oh yeah.
Insurance.
Your home deserves more than a one-size-fits-all policy.
Hey Charley is independent, so we can help you explore coverage from multiple insurance carriers.
Whether you're buying your first home, reviewing an existing policy or wondering if you're paying too much, we're here to help you compare your options.
Love your home.
Know your coverage.
New homeowner? Renewing your policy? Just curious whether you have the right protection? Let Charley take a look.
LET CHARLEY TAKE A LOOK →