3 Types of Homeowners Insurance Coverages That You Should Become Familiar With

Homeowners insurance is something that all Texans who’ve recently purchased a new residence should know about. Although we typically associate this type of insurance to protecting our homes against occurrences like fires, hurricanes and floods, there are other factors where your policy will come into play, like liability, dwelling insurance and personal property insurance.

If you don’t already have insurance in place for your home, then now is the time to act. It may seem like a hassle having to scourge the Internet for the perfect policy, but that’s what we’re here for! Read on to learn more about finding insurance for your home.

Contact our insurance agency in McAllen to learn how we can help you find the perfect insurance policy for your home, vehicle or business today!

What Does a Homeowner’s Insurance Policy Cover?

If you’re new to purchasing homeowners insurance, then finding the right policy is a process that can take some time and even professional help. The most important thing to know about this type of insurance is that there are many different subtypes. The most common include:

  • Dwelling Insurance: This protects your actual home in the case of a fire, theft, vandalism or natural disasters. This can also cover items on your property like sheds and fences.
  • Liability Coverage: This type of coverage protects you as a homeowner should a guest of yours suffer injury while on your property. It primarily helps to offset any medical costs up to a certain point from injuries suffered by guests. Additional forms of liability are available, just give us a holler so we can go over them together.
  • Personal Property Insurance: This covers prized-possessions within your home. This can include family heirlooms like jewelry or furniture. Of course, it’s highly recommended that you save receipts, record what these items are and go over them with our insurance agents to determine how this policy should be applied.

Will I Need to Purchase Additional Coverage?

Depending on where you live, the type of coverage you’ve purchased and whether or not you’re financing your home through a lender can determine if you’ll need to purchase additional coverage. If you live within one of the 14 coastal counties along the Gulf of Mexico in Texas, for example, windstorm coverage is typically not included in homeowners insurance policies, meaning you’ll have to purchase it separately. For a better understanding of this, contact us.

Get the Process Started Now

It’s almost never too late to purchase a homeowner’s insurance policy. The only time an insurance company will not sell a policy is when there’s an incoming storm, such as a hurricane or tornado, in your area, whereby companies will put a moratorium on selling policies until the danger has passed.

Reach Out to Us Today

We know that finding the right policy for your home can be tough, but with our insurance agency in McAllen on your side, it doesn’t have to be. Contact us online or stop on by to find out how we can help you find the perfect policy for your home, vehicle or business today!

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4 Comments

  1. Hannah Schroeder

    Thanks for mentioning that dwelling coverage covers your house and structures on your property like sheds. My husband is building a large workshop in our backyard where he can do his carpentry, but I’m not sure if our home insurance will cover it. Maybe we should look into getting dwelling coverage to make sure it’s paid for if there’s a fire or something.

  2. Elsa Anderson

    I like how you mentioned how there are many different insurance subtypes, such as dwelling insurance covers almost everything, liability coverage which covers guest’s emergencies, and personal property insurance which covers heirlooms and pieces of jewelry. That’s perfect to learn since we’ve just moved and have no idea which insurance we will be taking. It seems like the dwelling insurance would be the most suited for us. I’ll check more online as to what else can be offered to us. Thanks!

  3. Thank you for listing common home insurance policies. My husband and I need to get some home insurance, but we don’t know anything about what kind we should get. That is good to know that dwelling insurance protects your actual home in case of a fire, theft, or natural disaster. It sounds like a great policy to have.

  4. I didn’t know that finding the right policy is a process that can take some time and even professional help. My sister just bought a house and they want to secure it. My mom suggested having homeowner’s insurance and shared this article with her. It says that purchasing additional coverage may depend on where they live.

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