TWFG Services Home Insurance – Not cheap insurance, affordable insurance
Owning your home is likely the largest and most significant financial and emotional investment you will make. You, your family, and friends will spend much time at your home, sustaining relationships and making lifetime memories. Homeowners insurance is a straight-forward way to protect your investment in case of misfortune. Your policy can protect your home against damages to the house itself as well as to possessions in the home. Homeowners insurance also typically provides liability coverage against accidents in the home or on the property. There are several types of homeowners insurance available. Let the experts at TWFG Services help you select the policy that best fits your needs.
The amount of insurance you need will vary on a variety of factors. However, as a general guideline, you will want coverage adequate enough for rebuilding your home at current construction costs. If the limit of your insurance policy is based on your mortgage, make sure the coverage is still large enough to cover the cost of rebuilding.
Most policies cover replacement cost for damage to the structure. A replacement cost policy pays for the repair or replacement of damaged property with materials of similar kind and quality. Please note that most standard homeowners policies provide coverage for damage as a result of fire, lightning, hail, explosions and theft, but they do not typically cover floods, earthquakes or damage caused by lack of routine maintenance. Flood and earthquake policies are available.
Your personal possessions are also often covered under your policy. Typically this coverage is 50 percent to 70 percent of the amount of insurance you have on the structure. This may not be enough coverage; it is important to undertake a home inventory and detail replacement costs for your properties. Additional coverage, if necessary, can be added to your policy. In some instances, there may be limits on how much coverage you get for selected items such as jewelry, silverware and furs. Again, if you have specific items that require additional coverage, you can purchase special personal property floaters that insure such items individually or as a collection.
Another important feature of your homeowners insurance policy is related to living expenses after a disaster. If you are forced out of your home after a disaster, this part of the policy pays the additional costs of temporarily living away from your home and typically covers housing/hotel bills, meals, and other living expenses incurred while your home is being fixed or rebuilt.
Compare TWFG Services Home Insurance Prices
As you can surmise, your homeowners policy is an essential part of your financial planning. A proper plan protects you and your family as well as provides a sense of stability and well-being regarding your home. There are many options to consider when selecting a plan.