McKinney Homeowners Insurance
Insurance is an essential part of home ownership, especially since financial institutions will not grant a mortgage unless they are assured their investment will be protected against any type of damage. The minimum coverage required is typically more than the replacement value of the property to allow for increased building costs and any cleanup that is required in the instance of a fire or natural disaster.
Property replacement is not the only benefit provided by homeowners insurance, but it is considered the most important one. In addition to basic property insurance coverage, McKinney Homeowners Insurance offers additional coverage in the following important areas:
Personal Property and Home Contents Coverage
This type of insurance is included in some policies, but can also be added on to a basic policy. The homeowner should estimate the replacement value of all their personal belongings and contents of the home. Items covered typically include clothing, furniture and electronics such as computers and televisions. The coverage may also include any RVs or boats kept in an attached garage.
While the mortgage holder may not require liability insurance for the property, this is important coverage for the homeowner. A liability policy protects property owners from anyone who files a claim for damages they believe were caused by negligence. These claims can be very substantial, and the homeowner may be sued for an amount exceeding the value of their home.
Loss of Use
In the event of a fire or natural disaster such as a flood or storm that causes such severe damage the home is not safe to inhabit, the homeowner may need to move out of the house. A loss of use rider on the insurance policy will pay for temporary housing while the damage is being repaired or a new home can be found.
While the state of Texas is a great place to live due to relatively mild weather patterns, the Dallas-Fort Worth areas often experience serious windstorms. These metropolitan areas are part of what is known as “tornado alley”, and also experience high winds and heavy rain. These weather conditions can cause flooding as well as devastating property damage. McKinney Homeowners Insurance offers excellent coverage to Texas homeowners and also throughout the United States of America.
People who are in the process of purchasing a home in any area of the country should contact an agent from McKinney Homeowners Insurance to determine which type of policy will best meet their needs. Contact us today by clicking here.