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Houston, Texas Homeowner's Insurance

Homeowners Insurance Information

What is Homeowners Insurance?

Homeowners Insurance provides financial protection against disasters. A standard policy insures the home itself and the things you keep in it. Homeowners Insurance pays to repair your house and personal property if they're damaged by an event or occurrence covered by your policy. These events or occurrence are called "covered losses."
We, at A-Best Insurance, can help you find homeowners insurance.

Why do you need homeowners insurance?

It is really all about protecting yourself financially if something unexpected happens to your home or possessions. That's important because chances are your home is likely one of your largest investments. 
    •If your home was destroyed by fire or damaged by a natural disaster, you'd need money to repair or replace it.
    • If a guest in your home is injured, liability protection and medical coverage help pay expenses.
    • If you are a victim of theft and vandalism
    • If you are still paying for your home, your lender will require insurance.

Texas Homeowners Policies

Most homeowners policies in Texas include the following coverages:
    • 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 garage, storage sheds, and fences.
    • 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. A basic homeowners policy pays $500 in medical bills, but you may buy up to $5,000 in medical payments coverage.

Types of Policies

The two types of policies sold in Texas are:
    • All-risk policies (also known as a comprehensive coverage or open perils coverage). These policies offer you broad protection and coverall causes of loss unless the policy specifically excludes them.
    • Named perils policies (also known as specified perils coverage). These policies narrower protection than an all-risk policy and cover only the causes of loss specifically named in the policy.

Replacement and Actual Cost Value

Note about replacement cost and actual cost value:
     • Replacement cost is what you would pay to rebuild or repair your home, based on current construction costs. Replacement cost is different from marker value and doesn't include the value of your land. 
    • Actual cash value is what you would pay to rebuild or repair your property minus depreciation. Depreciation is a decrease in value due to wear and tear or age. If your home is destroyed and you only have actual cash value coverage, you ay not be able to completely rebuild.  

Things to consider and questions to ask your agent

    • How much will it cost to rebuild my house and replace my belongings if they are damaged or destroyed? (Ask your agent to talk to you through your home's features and the things you own so you can make an informed decision about coverage.)
    • What discounts are available? (Ask about multiple policy, security system and fire resistant discounts.)
    • What's the process for filing and settling a claim? (Ask who to call and what happens after you file a claim.) 

We will be happy to provide you with an online quote for your home insurance. It only takes a few minutes. Call us at 713-681-1967 for more information or begin your quote or policy today.

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