Homeowners Insurance

Because everyone's needs are not the same, it is best to consult your agent to help assess your needs and find the insurance policy that is right for you.

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 is a package policy. This means that it covers both damage to your property and your liability or legal responsibility for any injuries and property damage you or members of your family cause to other people. This includes damage caused by household pets.

Damage caused by most disasters is covered but there are exceptions. The most significant are damage caused by floods, earthquakes and poor maintenance. You must buy two separate policies for flood and earthquake coverage. Maintenance-related problems are the homeowners' responsibility.

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, it can reimburse you for your loss or pay for repairs.

• If you are still paying for your home, your lender will require insurance.

It is important to know that homeowners insurance is meant to cover unexpected damage, not routine maintenance. Ask your agent to talk about what is covered and be sure to read your policy so you know exactly what's included and what is not.

Things to consider and questions to ask your agent

Here are few things to discuss with your agent that will influence your decisions.

• How much will it cost to rebuild my house and replace my belongings if they are damaged or destroyed? (Ask your agent to talk you through your home's features and the things you own so you can make an informed decision about coverage.)

• Does the insurance company have a good reputation for customer service? Is it known for paying claims fairly and promptly?

• What discounts are available? (Ask about multiple policy, security system and fire resistance discounts.)

• What's the process for filing and settling a claim? (Ask who to call and what happens after you file a claim.) 

 

The Benefits of Homeowners’ Insurance in Houston, Texas

Owning a home comes with a lot of responsibility. There’s so much that can go wrong and the to-do list always seems to get longer no matter how many items you cross off it. When the time comes to purchase your first home, it is vital that you acquire a homeowners’ insurance policy from Allwin Insurance Agency. Our brokers work with all of the insurance companies in Texas to find the best rates and coverage amounts for homes of all sizes.

• There are five main benefits to having homeowners' insurance in Texas, including the following:
  The insurance protects your main residence
  The insurance protects your detached structures
  The insurance covers contents within the dwelling
  Liability coverage
  Insurance for the loss of use of the dwelling

Dwelling Protection is The Most Important Coverage

The most important type of coverage provided by a homeowners’ insurance policy is dwelling protection. The dwelling is the physical building where you live, sleep, eat, play, work, and spend time with your family. If something happens to the dwelling, you will want to have the damage repaired as soon as possible. You wouldn’t be able to afford repairs without dwelling protection. 

Dwelling protection provides insurance for fires, some water damage, wind, hail, and damage caused by other issues.

Protecting Your Personal Property

It’s also important to protect your personal property that is within the dwelling. This is what’s known as contents protection. 

If your house catches on fire and you don’t have contents protection, all of the items in the home that were destroyed will not be covered by insurance. Instead, when you have this coverage, you won’t have to pay out of your own pocket to replace jewelry, clothing, electronics, furniture, or other items in the home.

Liability Protection Covers Your Wallet And Others

The owner of any type of home should have some form of liability coverage on top of their homeowners’ insurance policy. Liability protection will cover your wallet should someone visiting your property suffer an injury. The policy also covers the injured person. 

The policy will help pay for the injured person’s medical bills and your legal costs should the injured person file a lawsuit against you. It’s possible to increase the coverage of the policy by adding umbrella coverage, which means that almost all claims against you or your property will be covered.

Understanding Coverage Limits

You are unable to select unlimited coverage limits for your homeowners’ insurance policy. Insurance companies offer different limits based on the value of your home, the value of the contents inside it, and other factors. These limits are what will help pay replacement costs should your home or contents suffer damage in a covered incident. For example, your dwelling coverage limit might be $400,000 and the contents limit might be $250,000. Any amount over those limits will have to be paid out of your own pocket.

In order for your homeowners’ insurance policy to activate after an incident that led to damage, you will have to pay the deductible first. The deductible is an out-of-pocket payment you will need to make to the insurance company that wrote the homeowners’ insurance policy.

Call Allwin Insurance Agency in Houston For a Homeowners’ Insurance Policy

Would you like to have your current homeowners’ insurance policy reviewed? Are you looking for updated coverage? Need to renew your policy? No matter your situation, the insurance agents at Allwin Insurance Agency are here to help you throughout the entire process. Call our office at (713) 952-5031, or complete a contact form to schedule an appointment with a member of our team today.