Homeowners Insurance Frisco TX: What A Standard Homeowners Policy Covers

Homeowners insurance Frisco TXIf you’re shopping for homeowners insurance in Frisco TX, you should learn as much as you can about what a standard homeowners insurance policy covers.  According to the Insurance Information Institute, standard homeowners insurance includes four of the essential types of coverage every homeowner needs:

1.   Coverage for your home’s structure.
2.   Coverage for personal belongings.
3.   Liability coverage
4.   Coverage for additional living expenses in the event that you are unable to live in your home because of a fire or other insured disaster.

Coverage for your home’s structure is the part of your policy that pays to rebuild or repair your home if it’s destroyed or damaged by a covered event like fire, lightning, hail or a hurricane.  It won’t pay for damage caused by an earthquake, a flood or routine wear-and-tear.  This part of the policy also covers detached structures associated with your home like garages and tool sheds at about 10 percent of the coverage on your home. When you see your agent to purchase homeowners insurance in Frisco TX, make sure you ask for enough coverage to rebuild your home or other covered structure.

Coverage for personal belongings like furniture, clothing and electronics is usually provided at between 50 and 70 percent of the insurance on your structure.  You’ll receive compensation for items that are stolen or lost through a covered event like fire or a hurricane.   To find out if you have enough insurance to cover your personal belongings, do an inventory of your home and assess the value of each item.  If you have really expensive items like furs or jewelry, you’ll have to purchase an additional insurance policy as you won’t receive full reimbursement for these items with your standard policy.

Liability coverage protects you against lawsuits filed by people hurt either on your property or by you or a member of your family anywhere (including injuries caused by pets).  There are limits to how much the insurance company will pay and these limits can be raised at an additional cost if you feel you need more coverage.  The standard policy also covers medical claims made by anyone hurt on your property; these claims can be paid without filing a liability claim against your insurance.

Coverage for additional living expenses helps to defray your living expenses if you can’t occupy your home because it was damaged or destroyed by an insured event like fire.  The amount paid varies from insurance company to insurance company so when you’re shopping for homeowners insurance in Frisco TX, ask your agent for a comparison of the amounts allowed by different companies.  The maximum amount paid is generally between 10 and 20 percent of the amount of coverage you have on your structure.

When you’re ready to buy your homeowners insurance in Frisco TX, call us at the Anthony Blackmon Agency at 469-291-9006.  And visit us at www.anthonyblackmonagency.com to find out more about us and the companies we represent.

Homeowners insurance Frisco TX
Anthony Blackmon Insurance Agency
9191 Kyser Way, Suite 200
Frisco, Texas 75034
(469) 362-8484

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