Coverage Options and Benefits : Introduction
Your home is your sanctuary, a place where memories are made and cherished. But what would happen if disaster struck? Homeowners insurance ensures that you’re financially protected from unexpected events like fire, theft, or severe weather. At Galloway Insurance, we help residents of Marble Falls, Burnet, and Horseshoe Bay find the right policies to protect their homes and everything in them. Here’s what you need to know to make sure you’re fully covered.
What Does Homeowners Insurance Cover?
A standard homeowners insurance policy typically includes:
- Dwelling Coverage
- Protects the structure of your home, including the roof, walls, and interior, from covered events like fire, hail, or windstorms.
- Personal Property Coverage
- Covers your belongings, such as furniture, electronics, and clothing, if they’re damaged, stolen, or destroyed.
- Liability Protection
- Covers legal and medical expenses if someone is injured on your property or if you accidentally damage someone else’s property.
- Additional Living Expenses (ALE)
- Covers costs like hotel stays and meals if your home becomes uninhabitable due to a covered event.
Additional Coverage Options to Consider
- Flood Insurance
- Flood damage isn’t covered by standard policies. With many areas in Texas prone to flooding, including Burnet and Marble Falls, a separate flood insurance policy is essential.
- Replacement Cost Coverage
- Ensures your home and belongings are replaced at today’s prices, not their depreciated value.
- Scheduled Personal Property
- Provides additional protection for high-value items like jewelry, art, or collectibles.
Why Is Homeowners Insurance Important?
Beyond providing financial protection, homeowners insurance gives you peace of mind. It ensures you’re not left to bear the full burden of repair or replacement costs after a disaster. Plus, it’s often required by mortgage lenders.
Tips for Choosing the Right Homeowners Insurance
- Evaluate Your Home’s Value: Make sure your policy covers the cost to rebuild, not the market value.
- Consider Your Risk Factors: Do you live in a flood zone or an area prone to wildfires? Tailor your coverage accordingly.
- Review Policy Limits and Deductibles: Higher limits offer better protection but may come with higher premiums.
How Galloway Insurance Can Help
As a local agency, we understand the unique needs of homeowners in the Texas Hill Country. Our team is here to guide you through your options and ensure you’re getting the best coverage for your home and family.