Homeowners Insurance

Homeowners insurance helps repair or rebuild your home after covered events like fire, hail, wind, and theft. Most policies also cover your possessions, like clothes and furniture. Additionally, most policies cover medical expenses and legal fees if someone not living in your home is injured on your property.

While coverage can vary between policies, common items covered by homeowners insurance include:

• Property damage: This coverage includes fire, wind, hail, and water damage to your house and structures on your property.

• Personal property: This coverage protects stolen or damaged items such as furniture, appliances, dishes, and clothing.

• Personal liability: This coverage could help cover property damage or medical expenses to others caused by you or someone in your household, including your pets. Personal liability coverage can also help with legal costs if you are sued.

• Additional coverage: Some other items covered may include jewelry, medical bills, and additional expenses.

Homeowners insurance is a necessity, even if you own your home and no longer have a mortgage. If you have a home equity loan or mortgage, your lender will require coverage and will not underwrite a loan without proof of insurance.

The replacement cost is how much it would cost to rebuild your home if it’s damaged or destroyed. The cost to rebuild your home can vary from the market value due to the housing market's current state, the cost of building materials, or the value of the land at the time of your loss. Since your homeowners insurance covers the cost of rebuilding the structure, sometimes it costs more and sometimes less than market value. A Texell Insurance agent can help make sure your coverage is adequate.

If your home is destroyed or even damaged, you may not be able to live there while repairs are made. Most homeowners policies have coverage for additional living expenses built into the policies. This coverage will pay for hotels or living accommodations, extra food costs, and other additional costs that you will incur while you cannot live in your home.