Your home is likely to be the largest investment you will ever make. It is important to understand the types of homeowner’s insurance in Houston TX you need to keep your home insured at all times. The key to avoid a susstaintial loss is by having insurance in place.
Basic Home Insurance
Many homeowners may only have the basic amount of coverage that will include the home in the event of fire or storm damage. This is referred to as the H1 policy and is the least amount of homeowner’s insurance in Houston TX available on the market today.
Homes that are older and may not require a great deal of insurance is ideal for a basic policy. When the value of the home is low, the homeowner can reduce insurance costs by having the H1 policy in place.
Broad Coverage Policy
The next level of homeowner’s insurance to obtain is referred to as comprehensive coverage policy. This is listed as the H2 policy and covers more than a basic policy. For instance, additional outside structures such as outbuildings and storage units are covered under the H2 policy.
Additionally, there is general liability coverage added when obtaining a broad coverage policy. This will protect you in the event an accident occurs at the home and a lawsuit is filed against the homeowner. If this occurs your insurance provider would pay all legal expenses with this level of coverage.
Special Form Policy
One of the highest levels of homeowner’s insurance available is referred to as a special form policy. Coverage that will cover most any damage to the home is inclusive in this insurance policy. This insurance is listed as the H3 policy and provide coverage for earthquakes or water damage to the home.
Finally, be sure to have the right amount of insurance on your largest investment. Take the time to discuss your needs and your options with your insurance agent to obtain the coverage you need at a price you can afford. When looking for Budget Insurance Houston TX area, you are sure to find the exact policy to suit your needs.
