Texas is one of many states that have laws in place that require home owners to carry a certain amount of insurance on their properties. This is known as the Texas Insurance Regulation, and there is a minimum amount of insurance that all home owners must have. It will cover a number of things, including property damage caused by storms, fires, other natural disasters, theft, and vandalism. Some policies also offer liability coverage, which takes care of medical expenses, as well as expenses that are accrued if a home owner is unable to live in their home while it is being repaired.
Insurance companies in Katy, TX are legally allowed to sell three types of insurance policies to home owners. These are HO-A, HO-B, and HO-C. The first offers very limited coverage, and only provides a small cash value for the home and any contents inside. The second option provides more coverage, such as the home and its contents. Option HO-C offers the most coverage, and covers items that the other policies don’t cover. While home owners have the right to choose from any of these policies, all three are not always offered by all insurance companies.
Insurance agency in Katy, TX do not have to pay for damages to homes that are caused by flooding, earthquakes, rodent infestation, termites, and freezing pipes (when the home is not being lived in). They also don’t have to provide coverage for damages caused by wind, hail damage to flowers, trees, and plants, water damage, and losses that happen when the home owner is away from the residence for 60 days or longer.
While home owners are required to get one of these policies from insurance companies in Katy, TX, they are also advised to take out additional coverage for liability. If anyone is injured while on the property, and the injury is caused by home owner negligence, such as a broken step, the insurance will cover the injured party’s expenses. There are also separate policies available for the natural disasters that are not covered. To learn more about homeowners insurance, contact our experts.
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