How to Decide Which Texas Homeowner’s Insurance Policy is Best for You
Homeowner’s insurance is designed to protect your biggest investment — your home — when disaster strikes. Not all insurance companies live up to their promises or your expectations. If you have a large claim (say, $20,000), you can’t afford to have your insurer skip out on you. Unfortunately, greater damage increases the chance of a disagreement over value. It’s important to select a policy that works for you. You’ll also want to find an insurer who is agreeable and forthcoming.
What to Look For
When researching potential policies, you should look for the following qualities:
- A good selection of coverage – There are varying types of coverage available for your home. For example, some damages may only be covered in specific cases — such as when a fire burns down the building. Ensure you have enough coverage for your home.
- Extra coverage – If you own a home with a high market value, but have only purchased enough coverage for, say, $100,000, you won’t have enough to replace the structure. Extra coverage will ensure you have enough in the event of total destruction.
- Reasonable deductible – If you don’t understand deductibles, your insurance provider may try and take advantage of the situation. Find a reasonable deductible, which is the amount you’ll pay before coverage kicks in.
Your home’s current occupancy, location, and condition will all affect your monthly payments. Your credit record will also play a role. Outside factors, such as natural disasters, can also impact the cost of homeowner’s insurance. For example, a hurricane may result in multiple claims in your area, causing rates to rise.
Whatever the specifics of your situation, it’s important that you receive a free quote on your homeowner’s insurance policy here in Texas. You deserve to know the cost before you commit.