As a responsible homeowner, you probably understand how important home insurance is. It helps to protect you, your home itself, and all your personal belongings from different unexpected events. However, purchasing the right home insurance policy is not the easiest task because there are many things to consider. If you are thinking of getting a home in the Lone Star State or you are already a lucky Texan with a house, Essential insurance Service prepared the list of things you should know about insuring your home:
- Even though it is not required by law in Texas to carry homeowners' insurance, there are mortgage lenders that may not approve your application if you do not have home insurance. Some lenders also require you to get flood insurance if a house is in the area prone to flooding.
- A typical home insurance policy covers the following: lightning, exposure, theft, riots, vandalism, fire, windstorm, hurricane, hail, and some others.
- However, homeowners insurance will not cover wind and hail (most insurance companies will not cover it for homes located on the Gulf Coast), mold, water damage from continuous leaks, rats/mice, termites, and some other insects, earthquakes, normal wear and tear.
- The rate of your home insurance depends on many factors, including location and environmental factors, building materials, condition of the building and its age, cost of replacement, crimes in your area, your insurance history and financial status.
Your home is probably your most valuable possession in life that needs proper financial protection. Getting proper insurance is the best way to protect your dwelling and yourself. If you are a resident of Texas and you need assistance in finding a perfect insurance plan based on your needs and budget, Essential Insurance Service is ready to help. Do not hesitate to visit our website or give us a call to get more information.