Homeowners Insurance Information
Austin Homeowners' Insurance and Flood Insurance
Can you obtain homeowners, auto, or boat insurance on your own? Sure. However, insurance is complicated and requires a solid understanding of the contracts and the options available to you. Why take an unnecessary risk? Our licensed and caring insurance staff is ready to help you consider choices that fit your needs and budget.
Austin Home, Condo, and Renters Insurance Programs May Include*:
For the majority of us, our homes are the most important investment we will ever make. We can help you protect your investment for your family and the people who depend on you. Below are some of the major coverage's.
- Dwelling and Other Structures Coverage: For the cost of rebuilding or repairing your home and other structures such as your shed or garage.
- Contents Coverage: For the cost of your personal property. Replacement Cost option is recommended.
- Loss of Use: Covers the necessary increase in living expenses when the home is uninhabitable after a loss.
- Personal Liability: For the bodily injury or property damage of others, for which you are legally liable.
- Personal Umbrella
- Flood Insurance: Most property insurance policies exclude flood insurance. Therefore, to cover loss when flood occurs you must purchase a separate flood insurance policy.
Because everyone's needs are not the same, it is best to consult your agent to help you assess your needs and find the insurance policy that is right for you.
What is Homeowner's insurance?
Homeowner's insurance provides financial protection against disasters. At a minimum, a standard policy insures the home structure and the things you keep in it.
The homeowner's insurance policy covers both damage to your property and your liability or legal responsibility for bodily 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 exclusions. The most significant are damage caused by floods, earthquakes and poor maintenance. You must buy a separate policy for flood. For earthquake coverage an endorsement can often be added to the homeowner's policy or a separate policy can be purchased. Maintenance-related problems are the homeowners' responsibility and are not covered.
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.