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What You Need To Know About Homeowners Insurance In The State of Texas


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Basic Coverage Found in Most Homeowners Policies in Texas 

  • Dwelling pays if your house is damaged or destroyed by a covered loss.
  • Personal property pays if the items in your house (such as furniture, clothing, and appliances) are damaged, stolen, or destroyed.
  • Other structures pays to repair or rebuild structures not attached to your house, such as detached garages, storage sheds, and fences.
  • Loss of use pays your additional living expenses (housing, food, and other essential expenses) if you have to temporarily move because of damage to your house from a covered loss. Your policy will pay either a percentage of the amount of your dwelling coverage (typically 10 to 20 percent) or for a specific period after the loss (such as 24 months).
  • Personal liability pays to defend you in court against lawsuits and provides coverage if you are found legally responsible for someone else's injury or property damage.
  • Medical payments pays the medical bills of people hurt on your property. It might also pay for some injuries that happen away from your home, such as your dog biting someone at the park. A basic homeowners policy pays $500 in medical bills, but you may buy up to $5,000 in medical payments coverage.


Valuation Methods on How Claims Valued and Paid 

  • Replacement cost is what you would pay to rebuild or repair your home, based on current construction costs.  (also, read our Blog, "What is Replacement Cost on Home Insurance")
  • Actual cash value is what you would pay to rebuild or replace your property minus depreciation. Depreciation is a decrease in value due to wear and tear or age.

We always recommend that you insure your home on a Replacement Cost basis


2 Types of Policies

  • Open Perils-  causes of loss are covered UNLESS the policy specifically excludes them.  
  • Named Peril- specifically names the perils that are covered in the policy


Homeowners Endorsements You Should Ask About

  • Backup of sewers or drains
  • Damage to foundation or slabs
  • Extended or additional dwelling replacement coverage
  • Equipment Breakdown
  • Law or ordinance coverage
  • Water damage from a plumbing, heating, or air conditioning system
  • Water Seepage
  • Identity Theft
  • Replacement Cost on Personal Property Coverage


Discounts That May Apply

  • Companion Credits- placing your Home and Auto with the same carrier
  • Central Burglar Alarms
  • Central Fire Alarm
  • Smoke Detectors
  • Age of the Home (New)
  • Type of Roof


Other Types of Coverage Homeowners Should Consider:

Flood Insurance- "Flood" is not covered on a Homeowners Policy.  You must purchase a separate flood policy to have this coverage.

Personal Umbrella/Excess Coverage- Provides additional liability limits on you home and auto insurance policy


Other Types of Policies for Non-Homeowners

  • Renters insurance 
  • Condominium insurance
  • Townhouse insurance
  • Mobile Home insurance
  • Farm and ranch insurance



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