Home Insurance in Live Oak, TX Just Got A Lot Easier!
What Does Home Insurance in Live Oak, Texas Cover?
A standard home insurance policy includes six types of coverage:
| Coverage Type | What It Covers |
|---|---|
| Dwelling Coverage | Your home and other attached structures from the named perils in your policy. |
| Other Structures Coverage | Coverage for detached structures on your property such as a shed, in-ground pool, guest house, detached garage, etc. |
| Personal Property Coverage | This coverage protects your personal belongings from named perils and even extends its coverage to items outside of your home. Note: policy limits do apply. |
| Loss of Use Coverage | Food and lodging are covered for homeowners who are unable to live in their homes after suffering a loss and are waiting for it to be restored. |
| Personal Liability Coverage | Financial protection in the event you or someone in your household were to cause an accidental injury to someone else or accidentally destroy someone else’s personal property. |
| Medical Payments to Others | This coverage will protect you if a guest is injured at your home regardless of whose fault it is and compensate you for any medical expenses. Typical coverage ranges anywhere from $1,000 to $5,000, but it’s important to note that this coverage does not apply to you or members of your family. |
While these basic coverages do apply to several perils homeowners typically face, it is important to remember that a basic home insurance policy is not blanket coverage. This is why we encourage you to review your policy so that there are no surprises on what it does and does not cover should you suffer a loss.
How is My Home Insurance Rate in Live Oak, Texas Calculated?
Home insurance providers will calculate your home premium by determining the amount of risk you pose as a client. The more risk they have to take on to insure your home, the more you can expect to pay in premium. In contrast, if you are deemed less of a risk to insure you can expect to pay less on your home premium.
While each carrier has its own formula to calculate this perceived risk, many factors they look at are the same. Some common factors include:
Coverage Level Needed
If your home demands more coverage, then you can expect to have a higher home premium and vice versa. Your liability coverage, the value of your personal possessions, and most of all, the cost of rebuilding your home will all be factors.
Location
Homes have two major threats: theft and weather-related risks. This means homes that are located where crime or extreme weather is common can expect higher insurance rates.
Claims History
Typically, a claim will remain on your history for 5 to 7 years and homeowners with excessive claims will pay higher premiums.
Credit Score
While this may not be the biggest factor you’ll face, the higher your score, the lower your premium.
Deductible Amount
Your deductible is the amount you are responsible for paying after a loss before the insurance company will provide compensation. Choosing a lower deductible will create a higher premium and vice versa.
The Characteristics of Your Home
Your home’s unique features such as the age, materials it’s made out of, location, and more will all affect your home insurance rate.
Each insurance provider assesses these factors differently using their own formula. This means that your home will receive different rates from different providers, which is exactly why you should shop and compare your rates.
How Much is Home Insurance in Live Oak, Texas?
Homeowners in Live Oak, Texas pay an average of $2,350 per year for their home insurance. The average TGS Insurance customer pays only $1,163 per year, meaning an annual savings of $1,187 per year! Seeing how much you could be saving is as easy as entering your address above for a free, instant quote!
Comparing Live Oak Home Insurance Quotes by Home Value
Below is a comparison of the average home insurance quote provided by TGS Insurance Agency within three of the most common home value ranges for Live Oak, Texas. Home value is just one of many factors that influences your home insurance premium.
| Home Value | Average Annual Premium (incl. Wind Coverage) |
|---|---|
| $275,000-$325,000 | $1,119 |
| $325,001-$375,000 | $1,174 |
| $375,001-$425,000 | $1,203 |
Most Common Home Insurance Endorsements Recommended in Live Oak
Home insurance endorsements are crucial for filling gaps in coverage from your standard home insurance policy.
Equipment Breakdown Coverage
This insurance provides additional protection for common home appliances, furnaces, and HVAC systems. This coverage kicks in when your equipment has either a mechanical or electrical breakdown- it does not cover normal wear and tear.
Extended Replacement Cost
This coverage is an expansion of your current dwelling coverage limit and covers extra costs associated with rebuilding that are outside of your control and in excess of your standard home policy’s limits. For example, let’s say that a natural disaster comes through your area and caused major damages. Since many people will be in the same boat as you, the demand and cost for labor will increase and could put you outside of your coverage limits.
Scheduled Personal Property
A supplemental policy that extends personal property coverage limits in your standard home insurance policy. Common examples of items needing this coverage include collectibles, art and antiques, and jewelry.
Service Line Coverage
Service line coverage provides protection in the event that pipes, wiring, or utility lines coming into or out of your property are damaged.
Water Backup Coverage
Water backup coverage protects your home and property from water damage as a result of sewage or sump pump backups. TGS Insurance believes you should be prepared for as much as possible, which is why we are proud to offer this unique, affordable endorsement. For only $50 per year, you’ll receive up to $5,000 in protection against sewer/drainage backup and sump pump failure.
Common Questions About Home Insurance in Live Oak, Texas
Will a security system lower my home insurance rates?
It depends on your insurance provider, but yes, security systems can lower your monthly premium by as much as 20%.
Are fires covered by home insurance?
Yes, fires are a covered peril by a standard home insurance policy. Although they are some of the rarest damages to face, they are the most expensive and a prime example of why every homeowner needs coverage for their home.
Does homeowners insurance cover lost jewelry?
Yes, lost jewelry is covered under your home insurance policy, but only a limited amount. If you own expensive jewelry that exceeds your home policy’s limit, then you should consider purchasing the proper policy endorsements to stay protected.
Trust The Experts at TGS Insurance for Your Home Insurance Needs
TGS Insurance is one of the fastest-growing insurance agencies in Texas because we take a different approach to protect your home. We protect thousands of homes and billions of dollars worth of assets for our clients. Your time is valuable and we understand that you are simply looking for the best coverage for your needs at the lowest cost.
Our agents will comparison shop from our bank of 35+ A-rated or better carriers, to find you coverage that best fits your needs all while saving you money! But this is just the beginning. At TGS Insurance, we provide an elite insurance experience that includes us handling everything from start to finish. From finding every discount you qualify for to working with your mortgage lender, our agents will take care of it all so you can have peace of mind knowing you’re fully protected. Your agent will also continue to annually review your policy so that if you were to ever experience a rate increase, we will re-shop your coverage to provide you with the protection you deserve that doesn’t break the bank. Never overpay for home insurance again with TGS Insurance!
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Zip Codes in Live Oak TGS Insurance Agency Insures:
- 78148
- 78233
Don’t see your zip code? Not a problem! We are able to help homeowners anywhere in Texas save on their home insurance!
