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How Much Does Laredo, TX Homeowners Insurance Cost?
The average cost for homeowners insurance in Laredo, TX is about $1,597 each year. At TGS Insurance our Laredo, TX customers pay an average of $732, which means they are saving an average of $865 every year on homeowners insurance!
What Will A Standard Laredo, TX Homeowners Insurance Policy Cover?
Understanding the ins and outs of your homeowners insurance policy is very important for any homeowner. Typically, home insurance policies are clear about the specific situations in which the insurance provider will compensate you for your loss. This means that your home insurance won’t cover any and everything unless it explicitly states in your policy that it’s covered. For example, if a hurricane caused the windows of your home to shatter, you will only get reimbursed if your policy specifically includes a hurricane as a named peril. Let’s take a closer look at the most common home coverages:
Coverage A – Dwelling
Dwelling coverage is the core of your homeowners insurance policy. This piece protects the physical structure of your home. So any floors, walls, ceilings, plumbing, wiring, or even permanent air-conditioning systems – if it’s attached it’s likely covered under dwelling.
Coverage B – Other Structures
This protects other structures that are not attached to your home such as, a detached garage, fence, or shed. Some insurance providers will include protection for your pool as well.
Coverage C – Personal Property
Personal property covers any loss for the value of damaged, lost, or stolen belongings such as furniture, electronics, clothes, and appliances. This type of coverage also extends protection to collectibles, jewelry, and artwork, but only to a certain limit.
Coverage D – Loss of Use
Loss of use covers any additional living expenses (hotel, food) in the event you are unable to live in your home because of damage from a listed peril.
Coverage E – Personal Liability
Personal liability coverage protects you and the members of your household from the financial repercussions of legal action that could be taken if someone is injured on your property or if you or your family cause damage to someone else’s property.
Coverage F – Medical Payments to Others
This coverage is designed to cover medical expenses that result from an unintentional injury to someone else on your property. It’s important to note that this does not apply to you or members of your household.
At TGS Insurance Agency, our independent agents are dedicated to working with you to tailor 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 Laredo, TX
Hail/Windstorm Insurance: Nationally, 1 in 42 insurance claims involve hail and wind damage, with the Texas average being much higher due to the number of hurricanes, tornadoes, tropical storms, and even just severe thunderstorms. These weather events are incredibly damaging to your home and without the right coverage, you could be left with the bill to pay for the costly repairs! At TGS Insurance, we believe in fully protecting our Laredo, TX customers which is why we automatically include a 2% hail/wind deductible into every policy we write.
Umbrella Insurance: Umbrella insurance is a type of personal liability coverage that can be used when you are liable for a claim that exceeds your homeowner’s insurance policy’s limit. It covers bodily injury, personal injury, and property damage. Umbrella insurance can also prevent you from having to pay out-of-pocket for another person’s medical or legal fees in the event you are deemed responsible. The average cost for umbrella insurance ranges anywhere from $150-$400 for a $1 million policy.
Flood Insurance: The typical homeowners insurance policy doesn’t cover water damage as the result of a flood and will only cover some losses from rain or an event that’s sudden or accidental, like a burst pipe. Flood insurance covers the cost to restore your home to its current value and protects your personal belongings. The average cost for flood insurance is $634 per year but can vary depending on your home’s location.
We’re Your “One-Stop-Shop” for Home Insurance in Laredo- Bundle Our Services and Save!
You can benefit greatly when you bundle your policies like home and auto together and can qualify for major savings! Do you need water backup insurance? Are there any endorsements you would like to add to your policy? Talk to one of our insurance agents to get your new policy set up today!
Zip Codes in Laredo, TX That We Insure:
Don’t see your zip code listed? Don’t worry, as long as it’s in Texas, we’ve got you covered!