Texas Home Insurance
Where you live has a lot to do with what kind of home insurance policy you need. According to the U.S. Geological Survey, Texas homeowners are at risk for hurricanes and tornadoes. But that’s not all. According to state insurance officials, up to 40 percent of all Texas homeowners insurance claims are for hail damage. If you’re a Texas homeowner, you’ll also want to watch out for mold in your home—Allstate’s mold claims in Texas leaped from 250 in 2000 to more than 4,600 in 2003.
The need for adequate coverage is imperative in the event a hurricane causes damage to your home or personal property. Check your policy to thoroughly understand coverage amounts and any exclusions.
Texas is at high risk for damage from flooding. If you are located in a flood zone, you will need to purchase a flood insurance policy in addition to your home insurance coverage.
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Mold damage has also come to the forefront in recent years and is much more prevalent – in fact, the Personal Insurance Federation in Sacramento reports that the top two states for mold claims are Texas and California. Insurance companies are required to offer coverage for mold remediation, although carrying this coverage will increase the premium.
Insurance experts recommend that you keep a thorough record of your personal belongings and the value of each item. This is helpful when determining the level of coverage you will need and provides a record of your possessions should anything be destroyed and need to be replaced.
Texas protects homeowners and renters with a consumer Bill of Rights. State laws dictate that home insurance in Texas must be “reasonable, adequate, not excessive to the risks for which they apply, and not unfairly discriminatory.” Additionally, the Texas FAIR Plan Association offers home insurance to eligible residents – those who have been denied by at least two insurance companies.
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Home Insurance Basics is not an insurer and cannot issue home insurance policies. This site provides free information about home insurance policies and companies. The companies detailed have not endorsed or sponsored these pages. Products and services may not be available in all states.
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