Homeowners Insurance Houston
A home is a valuable investment that needs to be protected. A homeowner’s insurance policy is designed to repair or replace a home and personal property if it is damaged or destroyed. This must be the result of an event covered by the insurance policy, one can be obtained these are known as covered losses. In Houston, homeowners are covered by the Texas Consumer Bill of Rights. When a person with Homeowners Insurance in Houston renews a policy, they should receive a copy of the Texas Consumer Bill of Rights from the company issuing the policy. Texas Consumer Bill of Rights The consumer bill of rights is not part of a homeowner’s insurance policy. The Texas Department of Insurance developed the Bill of Rights. They are not designed to address policyholder’s responsibilities. People who have Homeowners Insurance in Houston will find the responsibilities listed in their home insurance policy. Should a Houston homeowner fail to meet the obligations listed in the policy, it may affect their rights. Texas Homeowners Policy Coverage’s in Houston The majority of Homeowners Insurance in Houston provides certain coverage’s. This coverage determines what will be paid if a house is damaged or destroyed as a result of a covered loss. Personal property coverage will pay for items within a home that are destroyed, damaged or stolen. Loss of use coverage pays if a homeowner is forced to move temporarily because of damage to their dwelling. Personal liability pays to defend a homeowner if they are found responsible for another person’s injury or property damage. Medical payments cover the medical bill for any individual hurt on a homeowner’s property. The amount of insurance coverage needed is determined on an individual policy basis.
Earthquake Insurance in Houston It is possible with Homeowners Insurance Houston to get a policy covering damage caused by earthquakes. The cost is minimal because it is rare for earthquakes to occur in Texas. An insurance company can offer it as a separate policy. Flood Insurance in Houston Homeowners Insurance in Houston does not cover flood damage. To protect against this, a homeowner will have to purchase a separate flood insurance policy. Flood insurance can be purchased from the National Flood Insurance Program (NFIP) this is an insurance program run by the Federal Emergency Management Agency (FEMA). Should a homeowners structure be in a flood hazard area, their mortgage lender will require they carry flood insurance. [Source: https://docs.google.com/document/d/1AvK51oi6CCJ7Rw0tuZw7xKU97sr73zRc nCRzhqId6vM/edit]