Home insurance is a type of property insurance protecting your home and family comforts. It covers the building itself, you as a homeowner, and your personal belongings against unforeseen damages and circumstances.

Choosing the right policy may be challenging, especially if you have never purchased this type of insurance before. Also, the rules and regulations may vary from state to state.

Here is a list of things that you should know:

  • In general, home insurance is usually not mandatory. However, most mortgage lenders require homeowners to get it before applying for a mortgage. If a property is located in a flood-prone area, a mortgage lender may require a separate flood insurance property for additional protection.
  • A standard home insurance policy covers the following: exposure, theft, vandalism, lightning, windstorm, fire, hurricane, riots, and some others.
  • However, if a house is located on the Gulf Coast, most likely wind and hail will not be covered, mold and water damage from continuous leaks, termites, rats, mice, and normal wear and tear.
  • Certain factors are having an impact on the cost of home insurance. They are environmental factors, location, property age, materials used for building a home, costs of replacements, condition of the building, crime rate, financial status, and insurance history of a homeowner.

Buying a home is probably the biggest investment in life. Owning a property is an expensive and considerable commitment. Therefore, if you are thinking of getting a home in Texas, you also need to consider getting home insurance. If you are currently shopping for this type of property insurance, add Platinum Eagle Insurance Agency to your list of considerations. We are ready to answer your questions and help you find a policy that will address your unique insurance needs. Feel free to call us at any time to talk to one of the insurance agents.

 

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