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How Much Does Edinburg, TX Homeowners Insurance Cost?
The average cost for homeowners insurance in Edinburg, TX is about $1,470 each year. At TGS Insurance, our Edinburg, TX customers pay an average of $1,186 per year for their home insurance, which means they are saving an average of $284 every year on homeowners insurance!
What Will A Standard Edinburg, TX Homeowners Insurance Policy Cover?
Understanding the ins and outs of your home insurance policy is crucial for any homeowner because should something happen to your home, you don’t want to be left surprised thinking you were covered when you aren’t. Home insurance policies are clear about what they provide financial coverage for and what they don’t, which means if a peril isn’t specifically named in your policy then you won’t be protected. For example, if a hurricane caused damage to your home, you can only get reimbursed if your policy specifically includes hurricane coverage.
Let’s review some of the most common coverage terms you’ll see listed in your home insurance policy:
Coverage A – Dwelling
The dwelling section of your insurance protects the physical structure of your home, the walls, floors ceilings, etc.- basically anything that is permanently attached to your home.
Coverage B – Other Structures
This coverage protects other structures of your home, so things like fences, detached garages, sheds, and mailboxes.
Coverage C – Personal Property
This covers all of your personal belongings inside your home. Examples of personal property are appliances, electronics, clothing, furniture, jewelry, etc. Usually, personal property coverage has a limit so be sure to review your policy to ensure it covers what the contents of your home are worth.
Coverage D – Loss of Use
If your home is deemed unlivable due to a named peril (ex: fire) Loss of Use coverage would provide financial assistance for food and a hotel until your home is safe to live in again.
Coverage E – Personal Liability
Personal liability coverage steps in when an individual files a claim or tries to sue you for bodily harm or property damage that you are deemed liable for. It can help pay for medical expenses, legal fees, or repair damaged property.
Coverage F – Medical Payments to Others
Medical payments will pay for any medical bills incurred due to someone getting injured on your property caused by either an animal or the homeowner. It’s important to note that you and members of your household are not eligible for medical payments under this coverage.
At TGS Insurance Agency, our independent agents are dedicated to working with you to build an insurance policy that is tailored to your specific needs- including helping you determine what level of each type of coverage you need to be fully protected.
Common Additional Home Coverages in Edinburg, TX
Hail/Windstorm Insurance: The two most common home insurance claims in Texas are for wind and hail damage. About 1 in 42 insurance claims involve wind and hail damage, with the Texas average being much higher. It’s important for Edinburg, TX homeowners to have the proper wind/hail coverage should your home take on damage due to a gusty event such as a hurricane, tornado, tropical storm, gale, or even a bad storm. If left without the proper coverage, homeowners could be on the hook for any repairs. Home Advisor reports hail and storm damage repair ranging from $2,353 to $15,159 with an average of $8,6921. And that’s each time a storm hits! At TGS Insurance, we want you to be fully protected for anything, which is why we automatically write in a 2% wind/hail deductible into every policy we write!
Flood Insurance: Flood insurance is a separate policy from your homeowners insurance that pays to repair your home and/or replace your personal belongings if a loss occurs due to a flood. Water damage caused by a flood is not covered in your homeowners insurance policy therefore Edinburg, TX homeowners wanting full protection from a flood must purchase a flood insurance policy. The average flood insurance policy in Texas costs about $634 per year but can vary depending on where you live.
Water Backup Insurance: The second most filed claim by homeowners in Texas is water damage due to a clogged sewer line or backed-up drain, with about every 1 in 50 homeowners making this type of claim every year. Water damage due to a backup of some kind is inconvenient, costly to clean up, and not covered by your standard homeowners insurance policy. Adding water backup coverage to your policy will help protect your home and personal belongings from backed-up drains, clogged sewer lines, or failed sump pumps. The average cost for water backup insurance is about $50 to $250 each year.
We’re Your “One-Stop-Shop” for Insurance – Bundle Our Services and Save!
When you bundle your policies like home and auto together, you’ll see major discounts in your rates! Do you have a car or motorcycle, or need an umbrella policy? Talk to your TGS Insurance agent today about what bundling options you have available!
Zip Codes in Edinburg, TX That We Insure:
- 78504
- 78539
- 78540
- 78541
- 78542
Don’t see your zip code listed? Don’t worry, as long as it’s in Texas, we’ve got you covered!
