Home Insurance Coverage Options in Texas

Buying a house in Texas can mean that you are required to purchase home insurance to protect your property. Although the state does not have any specific guidelines or laws regarding coverage for a house, your mortgage lender may ask that you purchase a policy in case an unexpected event occurs. Understanding your options can help you find the right policy for your property.

Common Policies

Most insurance providers will offer policies that address specific perils or problems, such as fires or storms. Generally, a basic plan will protect against the most common problems and you will need to purchase additional protection for floods, earthquakes or other situations that are specifically excluded from the plan. You may also want to purchase coverage for specific items, like jewelry, since the coverage may be limited.

Although you can purchase a basic plan, there are options to add to your policy or purchase more comprehensive options if you feel that the basic plan is not appropriate for your goals and concerns.

Specialized Policies

Even though many policies are designed for the basic house, you may need to consider more specialized options if you are purchasing a condo, apartment or an older house. The risks and problems associated with specialized properties can differ from the worries that are associated with the basic house. As a result, you may need a different type of insurance policy to address your specific concerns and avoid spending on coverage that you do not need.

The risks and problems that you can face as a homeowner can depend on several factors. Depending on the policy that you select, the options that are available to protect your house can vary. To learn more about your options, contact us to talk to an agent today.