Home » Insurance » What You Need to Know about Homeowners Insurance

What You Need to Know about Homeowners Insurance

There’s no doubt about it, if you are a homeowner your number one concern is homeowners insurance. You just can’t be without it without courting disaster. In fact, nearly every mortgage lender will require a certain level of homeowner’s insurance, and most will collect payment via escrow that is attached to your mortgage payment. Your home is, without exception, your biggest investment and the cornerstone of your life. Everything else revolves around it.

Think about the consequences of not having the coverage needed to replace your belongings as well as your home itself if you suffered fire loss. It would be utterly devastating, and there is no reason for you to be stuck in that position as long as you have planned ahead with homeowner’s insurance coverage. Your policy will typically cover you for a variety of situations – theft, fire, natural disasters, and more. Liability coverage is usually included as well to protect you and pay for anyone injured on your property.

There could be some special circumstances that might require you to carry extra coverage. For example, if you live in a floodplain, you will most likely be required to carry additional flood insurance as most policies do not include flood coverage. Likewise, a similar factor might come into play for homeowners who live in hurricane zones or high-volume tornado zones. Earthquake-prone areas might also have qualifiers for additional coverage.

As with any insurance policy, you are paying a premium that usually covers 6-month or 12-month timeframes. Should damage or loss occur, the costs will be assessed, and the insurance provider will determine what will be paid out based on the policy coverage. If structures are involved, it may be looking at repair or replacement depending on the damage. If loss or destruction of personal possessions is involved, it will be important that you have kept a record of what your home holds – clothes, furniture, appliances, electronics, etc.

There are all different levels of coverage and options for what is covered in a homeowner’s insurance policy, so you should receive a homeowners insurance quote Houston TX. Some are basic – structure, possessions and that’s it. Others have additional levels of coverage and features that offer broader protections like identity theft, for instance. At the end of the day, however, the goal is to use the nominal fee of an insurance premium payment as an exchange for not being at a significant financial loss should disaster strike.

And don’t just guess what your policy covers – make sure you know by contacting your insurance agent and getting a copy of your policy that spells out the details. Make yourself knowledgeable about those details so you aren’t caught off guard in case of disaster. It can be very important that you know what is covered and what your obligations may be beyond the premium payment such as making a complete record of possessions. Should you have to file a claim, once the insurance company representative has assessed the damage and determined the payout amount, you will most likely receive a check from the insurance company to use at your discretion. home insurance quotes Houston TX can make sure you have the coverage you need.

If you need homeowners insurance in Houston, get home insurance quotes Houston TX from DeNeve Insurance. They offer free
homeowners insurance quote Houston TX.