Did you know that according to the Texas Department of Insurance (TDI), nearly 2 million homeowners insurance claims are filed in Texas each year? While Texas homeowners insurance is mandatory, understanding exactly what it covers (and what it doesn’t) is crucial for making informed decisions and getting adequate protection.
Here at Morgan Elite Specialist Services, we want to empower Texas homeowners with knowledge. This blog will provide a clear breakdown of typical coverages offered by Texas homeowners insurance policies, along with exclusions to be aware of.
Understanding Your Texas Homeowners Insurance Coverage
Texas homeowners insurance typically offers a combination of the following coverages:
Dwelling Coverage
This covers damage to your home’s structure caused by covered perils, such as fire, lightning, windstorms, and hail.
Other Structures Coverage
This covers detached structures on your property, such as garages, sheds, or fences, if damaged by covered perils.
Personal Property Coverage
This covers your belongings inside your home in case of theft or damage from covered perils. There might be limitations on coverage for high-value items like jewelry or artwork.
Additional Living Expenses Coverage
If your home becomes uninhabitable due to a covered event, this coverage helps with expenses for temporary housing and living costs.
Liability Coverage
This protects you financially if someone gets injured on your property or you accidentally damage someone else’s property.
Texas Homeowners Insurance Exclusions to Be Aware Of
It’s important to remember that Texas homeowners insurance doesn’t cover everything. Here are some common exclusions:
Flood Damage
Flood insurance is a separate policy and is highly recommended in flood-prone areas.
Earthquake Damage
Earthquake insurance is typically an add-on endorsement to your homeowners policy.
Normal Wear and Tear
Your insurance won’t cover damage caused by normal wear and tear on your property.
Intentional Damage
Damage caused by vandalism or theft might be covered, but intentional damage by yourself or a resident is not.
Sewer Line Backup
This is typically an exclusion, but some policies might offer coverage as an add-on endorsement.
Texas Public Adjusters: Your Partner in Understanding Coverage
Understanding your Texas homeowners insurance policy can be complex. If you have questions or concerns about your coverage, Texas Public Adjusters like us at Morgan Elite Specialist Services can help.
We can review your policy, explain your coverage details, and advise you on potential gaps that might require additional coverage.
Don’t Be Left Unprotected – Review Your Coverage Today
Having the right Texas homeowners insurance coverage provides peace of mind, knowing you’re financially protected in case of disaster. Review your policy thoroughly, and don’t hesitate to reach out to a qualified insurance agent or a public adjuster for clarification.
Contact us today for a free consultation, and let’s discuss your Texas homeowners insurance needs.
