Purchasing a home is a huge investment, and protecting that investment should be a top priority. While most people are aware of the need for homeowners insurance, they may not realize that there are other types of coverage that can be just as important.
For example, floods and earthquakes are often excluded from standard homeowners policies, so those living in areas at risk for either natural disaster will need to purchase separate coverage. In addition, many lenders require borrowers to carry homeowner’s liability insurance, which protects against lawsuits stemming from accidents that occur on the property.
Lastly, those with valuable items such as jewelry or art should consider purchasing additional insurance to cover the replacement cost of these items in the event of loss or damage. By taking the time to understand all of the different types of home insurance available, homeowners can be sure they are adequately protecting their biggest investment.
Windstorm and hail insurance on the Gulf Coast of Texas
This type of insurance helps protect your home from damage caused by wind and hail. The amount of coverage you need will depend on the level of risk in your area. Typically, your homeowners policy will not cover if you live in Harris County on Galveston Bay or on the Texas coast. If you want coverage, you get the a policy from The Texas Windstorm Insurance Association (TWIA), which provides hail and wind coverage for Texas coastal residents.
Extra coverage (endorsements) for high-value items
This type of coverage helps protect your valuable belongings like jewelry, art, or collectibles. The amount of coverage you need will depend on the value of your belongings.