Buying a new home is an exciting event. You get to decorate and make the house your home. But as you probably already know, there is a lot of responsibility that comes with buying and owning a home.
As you begin to place things in your home and acquire more things, you need to think about protecting them. The best way to protect your home and the property in it is by getting homeowner insurance. In the state of Texas, having homeowners insurance is not mandatory. But if you have a mortgage, the bank or mortgage company might require you to get one.
So, now you have to find an insurance company and pick the best homeowners insurance.
As a new homeowner, you are probably thinking about how do I know that the homeowners insurance I’m signing up for is the best. This is a great question, and the best answer to that is you can only do is research. Find out what homeowners insurance is and what it covers.
Let us help you start your research process. If you ever have any further questions or are ready to sign up for homeowners insurance you can always call Texas Insurance Agency.
What Should my Homeowners Insurance Cover?
Like we said earlier, homeowners insurance protects your home and the possessions that you have inside. So, signing up and getting this insurance is to keep you covered.
For the most part, basic homeowners insurance is going to cover any damage or destruction to the interior or exterior of your home. In addition, if items in your home are ever stolen this is covered as well.
When signing up for the insurance, the insurance agent will look at how much your home and possessions cost. Once, they have done that, they will use that information to build your policy and what is covered. The basic coverage levels of homeowners insurance include replacement cost, actual cash value, and an extended replacement cost.
With actual cash value, the cost of your home after depreciation and the cost of your possessions are covered. The replacement cost coverage takes the actual cash value of your home and possession before depreciation so that you can actually have enough to replace everything if that is the case. Lastly, the extended replacement cost covers the cost of your home. In addition to that, anything that needs to be repaired or replaced even if the amount is more than your insurance limit.
Keep this in mind
Keep in mind that your home insurance policy might not include coverage from damages caused by certain natural disasters. You might have to add another insurance policy for those specific natural disasters. An example of this is flood insurance.
For more information about homeowners insurance, call on Texas Insurance Agency and an insurance agent will be right with you.