TGS Insurance is Your Trusted Home Insurance Partner in Alamo Heights!
What Does Home Insurance in Alamo Heights, Texas Cover?
Home insurance covers losses and damages to a household’s residence, along with personal belongings and other assets in the home. You’ll also receive liability protection from medical claims and legal expenses made by visitors to your property.
While each policy is different and can be customized based on the homeowner’s needs, a basic home insurance policy is comprised of 6 components:
- Dwelling coverage: covers damage to the home and attached structures such as a porch.
- Other structures coverage: covers damage to detached structures such as sheds, fences, and detached garages.
- Personal property coverage: pays to replace or repair personal possessions that are damaged or stolen (be mindful of coverage limits)
- Additional living expenses/loss of use coverage: helps to pay for temporary living expenses, such as a hotel, while your home is being repaired or rebuilt.
- Personal liability coverage: pays if you injure someone or cause property damage to someone else’s property
- Medical payments: helps pay for medical bills should someone be injured on your property (does not cover members of the household who are injured on your property).
How is My Home Insurance Rate in Alamo Heights, Texas Calculated?
Ultimately, your home insurance premium comes down to how much risk a carrier determines they will take on by insuring you. Each insurance carrier uses a unique formula to determine risk which is why you will receive different quotes from different carriers. Homeowners with less risk can expect lower premiums and vice versa.
Some of the factors considered in determining your home insurance price may include:
- Your home’s value and what it would cost to rebuild your home.
- The age of your home
- The age and condition of your roof
- The location of your home in comparison to the nearest fire hydrant and firehouse
- Your personal claims history
- The coverages, policy limits, and deductibles you choose
- The presence of any items that pose a large risk such as a pool or trampoline
- The presence and breed of any pets in the home
Remember, each carrier will calculate your premium differently, which is why homeowners should shop their policy and compare against many different insurers to find the best policy for YOUR needs all at the lowest price available!
If shopping around sounds like a lot of work (it is), enter your address above and we will do it for you! With your address, we can provide you with a free, instant quote.
How Much is Home Insurance in Alamo Heights, Texas?
Homeowners insurance in Alamo Heights, Texas costs an average of $4,080 per year. Keep in mind this will vary based on the factors above including your home’s value and the coverages you select. Here at TGS Insurance, we have been able to save our customers an average of $870 per year by shopping their policy.
Most Common Claims Made in Alamo Heights, Texas
Let’s review the five most common claims made in Texas. This way, you can review your home insurance policy to see if it’s providing the coverage you need to stay protected.
|Type of Claim||Frequency|
|Wind & Hail Damage||1 in 42 claims|
|Water & Freezing Damage||1 in 50 claims|
|Non-Weather Property Damage (Accidental or Deliberate)||1 in 135 claims*|
|Theft & Burglary||1 in 474 per 100,000 citizens|
|Fire & Lightning||1 in 325 claims|
Source: Texas Online Insurance Adjuster Training
Your homeowners insurance policy is built to protect you from many common perils and events that homeowners will face, but your coverage will only extend so far, and some events aren’t included. A popular example is a misconception that many homeowners believe flood damage is covered under homeowners insurance, when in fact, it is not. To protect your home against floods, you’ll need a separate flood insurance policy.
Policy endorsements are a great way to bridge any gaps in your coverage. Here are some of the most common:
- Equipment breakdown coverage pays for damages caused by mechanical failure or power surges to equipment such as motors, computers, air conditioners, and refrigerators.
- Extended replacement cost is an endorsement that can help you pay for more should you face a large or complete loss and the cost to replace your home and/or possessions are beyond your policy limits.
- Scheduled personal property picks up where your personal property leaves off within your home insurance policy. This endorsement can protect items that surpass your home insurance policy’s coverage limits to avoid a coverage gap.
- Service line coverage pays in the event there is damage to a service line connected to your home so that you don’t have to foot the bill without assistance. Homeowners are financially responsible for the utility lines that connect to their home and replacing them is not covered by your standard home insurance policy.
- Water backup coverage is a unique policy endorsement we are proud to offer here at TGS Insurance. For as little as $50 per year, you can receive $5,000 in coverage to help you should you face backed-up sewer pipes or drains.
Speak with a TGS Insurance agent about any concerns you have about coverage gaps and the policy add-ons for your specific needs!
Common Questions About Home Insurance in Alamo Heights, Texas
Does homeowners insurance cover lost jewelry?
Yes, your homeowners insurance will cover lost jewelry, however, policy limits do apply. For more expensive pieces, you’ll need to purchase additional endorsements to stay protected and avoid coverage gaps.
Are homeowners insurance rates going up?
Yes, as we continue to see an uptick in natural disasters and a rise in the cost of building materials and labor, homeowners insurance rates also continue to rise. This is why homeowners need to lock in a cheaper rate today rather than waiting for a lower rate that is unlikely to come in the future.
Do you need home insurance if your house is paid off?
Yes, your home insurance is a critical protection that can help you restore or rebuild after a loss, including after your home is paid off. Even homeowners without a mortgage may find the financial burden of paying to completely rebuild their home due to perils such as a fire to be debilitating. Staying protected with home insurance is for anyone who owns a home regardless if you have a note or not.
Trust The Experts at TGS Insurance for Your Home Insurance Needs
TGS Insurance is the fastest-growing insurance agency in the state of Texas, covering billions of assets and thousands of homes. We take a different approach to insuring homes and understand that your time is valuable. Homeowners all want the same thing: the best home insurance policy with coverage tailored to your needs available for the lowest price on the market. And that’s exactly what we deliver!
We comparison shop every policy we write through our bank of 35+ A-rated carriers to ensure that we find the best insurance policy that is tailored to your needs. But that is only the beginning! We don’t stop at simply providing a great quote, here at TGS Insurance, we take pride in providing a world-class experience throughout the entire enrollment process and beyond. From start to finish you’ll gain peace of mind while we take care of everything. This means maximizing every discount available for you including bundling options, security discounts, and anything else so you always pay the lowest rate! Your agent will even review your policy annually and should you face a rate increase, we’ll re-shop your coverage so that you always receive the coverage you deserve for the lowest rate on the market!
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