Home Insurance in Texas
Like most Texas homeowners, your home is probably the most valuable asset you own. However, if it sustains damage or loss due to events such as fire or other catastrophic events, or you are sued because someone has been injured on your property, and you do not have sufficient homeowner’s coverage for your Texas residence, you and your family will not be protected.
What Does a Texas Homeowners Policy Cover?
Homeowners insurance will pay to replace or repair your dwelling and personal property if they sustain damage or are destroyed by an incident or event covered by your policy. These incidents and events are referred to as "covered losses." Most homeowner’s policies cover the following:
Dwelling — This pays for your home if it is damaged or destroyed by a covered loss.
Personal property — This covers the expenses of replacing items in your home, such as clothing, furniture and appliances, in the event they are damaged, destroyed or stolen.
Other structures — This coverage pays for repairing or rebuilding structures not attached to your home, such as a detached garage, storage shed, and fencing.
Loss of use — Pays for additional living expenses such as housing, food and other essentials if you are forced to move temporarily due to damage to your house from a covered loss. Your policy will either pay a percentage of your dwelling coverage amount (typically 10 to 20 percent) or for a set time period following the loss (such as 12 to 24 months).
Personal liability — This covers your expenses for your court defense against lawsuits and provides coverage for other people’s injuries or property damage if you are found legally responsible for them.
Medical payments — Covers the medical bills of anyone who is injured on your property. In addition, it might cover some injuries that occur away from your home, such as if someone sustains a bite from your dog while at the park.
Insurance companies may sell several different types of policies. If you want additional coverage to your policy, you can buy additional coverage from The Gray Group Insurance Brokerage and add endorsements to your existing policy.
For more information about how to select homeowners insurance coverage specifically designed to meet your Texas family’s unique needs, call or visit The Gray Group Insurance Brokerage to discuss your policy today, or use our handy online rating tool to find a quote.