What You Need to Know
Insuring the place you call home, protects your financial future, following a loss due to fire, theft, hail, vandalism, or other covered events. It will also provide coverage in the event someone is injured on your property and wins a legal judgment.
| Coverage Options | Homeowners policies differ by which losses are covered, all depending on the coverage selected. HIA will work with you to decide on a comprehensive policy that cover losses such as fire, hail, smoke, falling objects, vandalism and theft of personal property, or a policy that covers only specified losses. Special types of claims such as floods, earthquakes and wind damage from hurricanes require additional property insurance. |
Finding the Right Homeowners Insurance
Your home insurance policy is most often made up of specific options, the cost of a premium depends on:
| What You Select: | Oftentimes homeowners insurance options are priced individually, so how much you’ll pay for your policy depends on what coverage is purchased. Texas weather is unpredictable, but most homeowners need coverage for fire, wind and hail damage. |
| How much you want to cover: | Higher deductibles usually lower your premium price by shifting part of the loss payment to you. The standard deductible for a home insurance policy is 1% of the insurance value on the home. If your home was insured for $150,000, you would be responsible for the first $1,500 (1%) of damage. |
| Where you set your limits: | You may choose to set higher limits than the recommended amount if appropriate to your situation and needs. |
| Get better coverage in a liability lawsuit: | Consider an umbrella insurance policy that extends you home liability in increments of $1,000,000 in coverage. |
The Right Coverage. The Right Price. The Right Value.
The amount you pay for your homeowners insurance depends on many factors. Think of your personal housing situation, and the assets you want to protect. HIA can reveal how likely an event could affect your home.
| Protection for Your Home | Property or Dwelling Coverage typically pays to repair or rebuild your home if it’s damaged or destroyed by an insured event like a kitchen fire or windstorm. |
| Protection for You and Other People | Personal Liability Coverage applies if someone is injured or their property is damaged and you are to blame. The coverage generally applies anywhere in the world. |
| Medical Coverage | This covers medical expenses for guests if they are injured on your property, and in certain cases covers people who are injured off of your property. It does not cover health care costs for you or other members of your household. |
| Additional Living Expenses | If you can’t live in your home because of a covered loss, your home insurance policy will pay additional living expenses-commonly for up to 24 months-while damage is assessed and your home is repaired or rebuilt. |
| Protection for Your Belongings | Your home is filled with furniture, clothes, electronics and other items that mean a lot to you. Personal Property Insurance helps replace these items if they are lost, stolen or destroyed as a result of a covered loss. |
| Scheduled Personal Property Coverage | Many items have limited coverage. Read our blog for information on covering jewelry, guns and other valuable personal property. Talk to your agent about this additional coverage. It provides broader coverage for specific items. |
| If You Rent Out Your Home | Landlords may have the option to buy optional liability coverage for the risks posed by tenant-occupied dwellings. Visit our Landlord Protection Insurance page for more information. |