With TGS Insurance, Finding The Right Dripping Springs Home Insurance Policy is as Easy as 1-2-3
What is Home Insurance and How Does it Work?
Home insurance is a financial safety net that helps cover the cost of repairs or replacements for your home and personal belongings that are damaged from a covered event. Home insurance also provides coverage for other aspects such as other structures coverage, loss of use coverage, personal liability coverage, and medical payments.
Typically, most home insurance policies consist of six basic coverages, including:
Coverage A- Dwelling Coverage:
Protects the physical structure of your home and anything attached to it. For example, your wall structure, plumbing system, heating and cooling systems, etc.
Coverage B- Other Structures Coverage:
Covers any detached structures, such as fences, sheds, mailbox, or a detached garage.
Coverage C- Personal Property Coverage:
Protects any personal belongings such as clothing, electronics, appliances, workout equipment, and more. Something to remember is that personal property coverage has a certain limit, and high-priced items such as artwork, jewelry, fur coats, etc., may exceed those limits. You will have to purchase additional coverage to ensure your valuables are protected.
Coverage D- Loss of Use Coverage:
Also known as additional living expenses coverage, offers financial reimbursement in the event your home becomes uninhabitable due to a covered peril. It covers the costs for hotels and restaurant bills while your home is being repaired.
Coverage E- Personal Liability Coverage:
Provides coverage to pay for any claims for property damage or bodily injury to others that you or a member of your home are responsible for.
Coverage F- Medical Payments:
Covers small guest injuries if someone were to get injured on your property, regardless of who is at fault, usually up to $5,000. Something to note is that this coverage does not apply to you or members of your household.
How Much is Home Insurance in Dripping Springs, Texas?
Home insurance in Dripping Springs, Texas averages about $1,566 per year. But at TGS Insurance, our Dripping Spring, Texas customers pay about $1,242 per year, which means they are saving an average of $324 every year on home insurance compared to the area average.
How Do Insurance Carriers Calculate Home Insurance Rates in Dripping Springs, Texas?
Your home insurance rate is influenced by how much risk your insurance provider will take on when providing you and your home coverage. The more risk you pose, the more you can expect to pay in home premiums, and if you are less of a risk you can expect a lower home premium. Every insurance provider generally looks for things like the age, size, build type, and location of your home, among other personal-based factors such as your credit score, claims history, and the amount of coverage you need.
Other things include:
- Roof type
- Pets
- Security systems
- Distance to coast
- Neighborhood crime rate
- Common weather events (Ex. hurricanes or tornadoes)
- Attractive nuisances (Ex. pool, trampoline, playground, etc.)
Each provider has its own formula for how they weigh these factors, which is why you should shop and compare home insurance quotes from at least 5 to 10 different providers. This will help you find the most accurate coverage and rate for your home. We understand how dull and exhausting that can be, which is why we do all the hard work for you! At TGS Insurance, our agents will find you a home insurance policy from our pool of over 35 highly-rated providers to find you customizable coverage for the lowest rate. Your time is important, don’t waste it on shopping for insurance. Get your hassle-free home insurance quote in just 15 seconds or less using your address right now!
Average Cost For Home Insurance in Dripping Springs, Texas Based on Coverage Amount
When you compare your home premium average with your other home premiums in your area it can help you see if you are being overinsured or underinsured. If your home rate is higher than the average in your area, then you could be paying for coverage you don’t necessarily need or simply just being overcharged for coverage. If your home rate is below the average, then you could lack coverage, leaving you exposed to potential losses and forcing you to pay out of pocket for damages.
Let’s take a look at what homeowners in Dripping Springs, Texas are paying based on coverage amount:
| Coverage Amount | Average Annual Premium (incl. Wind Coverage) |
|---|---|
| $75,000 | $1,010 |
| $150,000 | $1,331 |
| $200,000 | $1,545 |
| $350,000 | $2,185 |
*We used the Texas Department of Insurance to calculate premiums. Methodology based on a homeowner with average credit, owns their home, no claims within the past 5 years, age of house is 10 to 34 years made of brick and includes windstorm coverage.
Most Common Perils in Dripping Springs, Texas
As you know, your home policy protects your home and personal belongings from common perils such as vandalism, fire, or break-ins. The perils covered in your policy are clearly stated and often referred to as “perils insured against.” An HO-3 is a common home insurance policy that typically protects you from the following perils unless it specifically excludes them:
- Accidental overflow or discharge of water
- Aircraft
- Explosion
- Falling objects
- Fire or lightning
- Freezing
- Power surges
- Riot or civil disturbance
- Smoke
- Sudden or accidental damage to water heater or HVAC
- Theft
- Vandalism or malicious mischief
- Vehicles
- Volcanic eruption
- Weight of ice, sleet, or snow
- Windstorm or hail
Having coverage for these perils is convenient, but you’ll want to pay close attention to what perils affect your area specifically. In Dripping Springs, Texas, homeowners often experience hail/windstorm damage, water damage, and theft, therefore you’ll want to ensure your policy is filled with the protection you need so you can avoid paying for damages out of pocket.
- Windstorm and Hail Coverage: Usually, gusty weather systems like hurricanes, tornadoes, or tropical storms are protected under your home insurance policy. But depending on where you live, windstorm coverage could be excluded, forcing homeowners to purchase a separate windstorm insurance policy to ensure they are fully protected. At TGS Insurance, we automatically include a 2% wind/hail deductible into every policy we write, so our clients can have peace of mind knowing they’re protected for anything.
- Water Damage: Your home insurance policy will protect against water damage that is deemed sudden or accidental, meaning it couldn’t be prevented. What is NOT covered is accidental sewer backup or overflow, gradual water damage, flood damage, or damage due to lack of maintenance. Understanding what water damage does and doesn’t protect is important because it can help you determine the proper policy endorsements or additional policy coverage you need for your home.
- Theft: The rate of theft in Dripping Springs, Texas is 2,33 per 1,000 residents during a standard year. In the event you experience theft, your home insurance policy will protect your personal belongings, but only up to a certain limit. If you have valuables that exceed those limits you will need to consider purchasing scheduled personal property coverage or some other form of extended protection so you can ensure your valuable items are covered.
Your TGS Insurance agent will gladly assist you in securing the coverage you need against common perils in your area, so you’re never left with a surprise should you need to file a claim.
Common Questions About Home Insurance in Dripping Springs, Texas
How much will a security system lower my homeowners insurance?
On average, installing a security system can lower your home premium by up to 20%. Some insurance providers offer these discounts to homeowners to reward them for taking extra precautions in protecting their homes. Homeowners with a security system have less of a chance of getting broken into, which means they are less likely to file a claim for theft or vandalism.
Will homeowners insurance cover tree removal?
Tree removal is typically covered under your home insurance policy. It depends on what caused the tree to fall and where the tree is located. Damage caused by a tree falling on your house or other covered structures is usually protected as well.
How long does it take to get a home insurance quote?
Typically, it can take anywhere from one to three days to get an insurance quote, but at TGS Insurance we can provide you with a quote in 15 seconds or less, just by inputting your address.
Trust The Experts at TGS Insurance Agency For Your Home Insurance Needs
TGS Insurance has been providing insurance for Texans since 2017 and we’ve rapidly grown into the fastest-growing insurance agency in the state with over 15,000 customers and over $4.27 billion in insured assets.
What’s our secret?
We don’t believe you should have to compromise on a good rate and coverage, and at TGS Insurance, you can have both! Our agents individually shop your home policy from our pool of over 35 top-rated providers so you can have great coverage tailored to your needs for the lowest rate the market has to offer. From beginning to end, we will take care of the enrollment process to setting up payment, so you can have a simple and seamless buying experience. In addition, we’ll monitor your policies year after year to ensure you’re always paying the least amount for the home insurance you deserve.
Our agency strives to offer the best customer service experience, and we have a unique, effective strategy for getting and staying insured easier than ever. While we don’t like to brag, we’ll let our reviews from real, authentic customers speak for themselves. We’re rated 4.8 out of 5 stars with over 1,600+ reviews on TrustPilot and 4.5 out of 5 stars with over 215+ reviews on Google.
