home insurance Frisco Texas

home insurance Frisco TX

Buying Home Insurance in Frisco Texas

Your home will most likely be the largest purchase that you make in your life. Therefore, you need to make sure your large investment is protected from many different types of damage.  You can do this by purchasing a home insurance policy that is suited to your specific needs. There are many different types of home insurance policies that are available in Texas.  Make sure you choose a policy with a company and an agent that is right for you. Let’s take a look at some of the most basic elements of a home insurance policy in Frisco Texas:

1. Dwelling

The dwelling coverage amount is the limit of protection you select to rebuild your home in case you have a total loss.  A home policy could be either named peril or open peril.  A named peril covers your structure against what the insurance industry refers to as “perils.” These perils can include vandalism, civil commotion and riots, hail, hurricanes, smoke, fire, damage caused by being struck by a land vehicle or aircraft, explosions, windstorms and lightning.  An open peril does not list the perils, but does list exclusions.

2. Other structures

As the title of the policy suggests, this type of home insurance Frisco Texas covers a different structure other than the home that is also on the dwelling premises. The secondary structure must be set apart from the home by a clear space. This is often included in a standard home insurance policy.

3. Unscheduled personal property (also called Contents Coverage)

This type of home insurance Frisco Texas covers the items that are inside the home. In many cases, the standard coverage is anywhere from 40 percent to 70 percent of the homes coverage. It can either be provided at actual cash value or at replacement cost.

4. Loss of use (also called Additional Living Expense)

This type of coverage protects the homeowner in the event that he or she is displaced from the home. This money would be helpful paying for a hotel until more permanent lodgings can be found. The typical amount of coverage is 20 percent of the home coverage.

5. Comprehensive personal liability (also called Third Party Loss)

This covers legal expenses in the event someone is injured on your property, and if you are legally liable. The amount can vary based on providers.

6. General exclusions of coverage

This includes intentional acts of the insured; expansion, shrinkage, settling, bulging or cracking; earth movement and water and mold leaks that happen over an extended period of time.

There are other more complex types of home insurance in Frisco Texas, so be sure to ask any provider that you contact for information on all of the policies they offer. Do not rush into buying a policy. Take your time and do careful research first to make sure that you have the exact coverage that you need.

At the Roger Welch Agency, we offer many different companies and policy types to choose from.  We are conveniently located at 2770 W Main St, Ste 104, Frisco, Texas 75033.  For a free, fast estimate, call our office at 972-380-6677 or simply click here to visit our website.