Home Insurance in Manor, TX Just Got A Lot Easier!
What is Home Insurance and How Does it Work?
Home insurance is a financial security net that helps homeowners pay for repairs or replacements to their homes and/or possessions if they are damaged from covered events. Home insurance also provides financial protection to you through liability coverage should a visitor injure themselves while on your property or should you accidentally damage someone else’s property.
Let’s review the six basic coverages that typically make up a home insurance policy:
Coverage A- Dwelling Coverage:
Protects the physical structure of your home and additional structures which are attached to it. This includes your home’s walls, foundation, plumbing, wiring, an attached garage, etc.)
Coverage B- Other Structures Coverage:
This coverage protects detached structures on your property in need of protection, such as your detached garage, fences, or sheds.
Coverage C- Personal Property Coverage:
Homeowners receive protection for their personal belongings such as clothing, furniture, electronics, jewelry, etc. against perils named on their policy. There are policy limits and items that exceed these limits in value will require additional coverages to stay protected. Your coverage also extends beyond your home such as protecting items in a storage unit from named perils.
Coverage D- Loss of Use Coverage:
Offers homeowners financial compensation to cover their living expenses should a named peril damage their home to the point that it is unlivable. These expenses include food and lodging necessary while waiting for the home to be restored.
Coverage E- Personal Liability Coverage:
Pays for claims related to property damage or bodily injury caused by a member of your household to others outside of your home.
Coverage F- Medical Payments:
Medical payments typically cover around $5,000 in medical expenses should someone become injured while visiting your property, regardless of who is at fault. This coverage does not cover the medical expenses of members of your home.
How Much is Home Insurance in Manor, Texas?
The average home insurance policy in Manor, Texas costs $1,588 per year but can vary depending on the different factors surrounding your home and your coverage needs. The average TGS Insurance customer in Manor, Texas only pays $1,414 per year with some homeowners saving as much as $870 a year!
How Do Insurance Carriers Calculate Home Insurance Rates in Manor, Texas?
Home insurance premiums are based on your insurance carrier’s assessment of how much risk they’ll take on to insure your home. If your home has more risk, your premiums will be higher and if your risks are lower, you can expect cheaper premiums. Each insurance carrier assesses many different factors including the age of your home, its build type, your home’s location, and the size of your home. Insurance companies also assess other personal factors based on you such as your credit score, claims history, and the amount of coverage you require.
Other factors that can affect your home insurance premium include:
- The type of roof on your home
- Pets (Ex. different breeds can raise your premium)
- Security systems (Homeowners can save 5%-20% by installing a security system)
- The distance from your home to the coast
- The crime rate around your home
- Common weather events (Ex. hurricanes, tornadoes, hail, etc.)
- Attractive nuisances (Ex. pool, trampoline, playground, etc.)
Insurance carriers assess all of these factors and will weigh each differently according to their own methods and standards. This is why homeowners must shop a variety of different insurance carriers (5 to 10 minimum) when looking for homeowners insurance to ensure that they are finding the right coverage and rate for their home. But, we realized that this can be a time-consuming and tedious endeavor, so here at TGS Insurance, we do it for you. Our trusted team of agents will shop your home insurance policy among 35+ A-rated (or better) carriers finding the best policy for your needs at the lowest rate available! Your time is important, so why waste it shopping for insurance? Let our agents do the work for you. Get your hassle-free home insurance quote in only 15 seconds or less using only your address today!
Average Cost For Home Insurance in Manor, Texas Based on Coverage Amount
By comparing your current home insurance policy, you’ll gain helpful insight to see how your policy compares to your neighbors in Manor, Texas. This is important because homeowners who are overpaying may be overinsured and wasting money on coverages they’ll never use, or simply being overcharged for their coverage. Conversely, homeowners who have premiums that fall well below the local average may be underinsured and exposed due to a lack of adequate coverage for the area. Homeowners who do not have enough coverage could be forced to pay for parts their claims out-of-pocket to restore their loss.
This is what average homeowners in Manor, Texas are paying for their home insurance premiums based on coverage amount:
| Coverage Amount | Average Annual Premium (incl. Wind Coverage) |
|---|---|
| $75,000 | $1,050 |
| $150,000 | $1,393 |
| $200,000 | $1,621 |
| $350,000 | $2,293 |
*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 Manor, Texas
Your home insurance policy protects your home and belongings from many common perils, or events, specifically listed within your policy. Some of these events include fires, vandalism, damage from wind or hail, damage from vehicles, etc. The perils your policy will protect you against are always listed, normally titled “perils insured against”. The most common form of homeowners insurance is an HO-3 policy and will protect you against the following perils unless they are excluded from your policy:
- Accidental overflow or discharge of water
- Aircraft
- Explosions
- 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 and hail damage
Protecting your home from these events is important, but because all homes are different, homeowners should pay attention to the specific threats in their area to their home. For homes in Manor, Texas, this means the threats that come from windstorm/hail damage, water damage, and theft. These perils make protection critical for any home in the area, and home insurance policies without these coverages will leave homeowners high and dry when filing a claim because they are underinsured and vulnerable to these gaps in coverage.
- Windstorm and Hail Coverage: Many home insurance policies cover perils related to wind and hail damage including tornadoes, hurricanes, and tropical storms, but where some homes are located, windstorm coverage may be excluded. This means homeowners will need to purchase a separate windstorm insurance policy to avoid coverage gaps involving wind and hail damage. We want our clients to be ready for anything, which is why TGS Insurance always writes in a 2% wind/hail deductible automatically for every homeowners insurance policy we issue, to provide our clients with the peace of mind they deserve.
- Water Damage: Home insurance policies will protect you from water damage but only if it is caused by “accidental discharge.” Meaning, a sudden or accidental water event that couldn’t have been prevented. But this still leaves your home vulnerable to many additional water events that are excluded from your home insurance coverage. What is NOT covered, ranges from flood damage to accidental sewer backup or overflow to water damage that occurs over time, such as a leaky pipe, and even damage caused by a lack of maintenance. Knowing the different types of water damage your homeowners insurance policy will or will not cover is important for any homeowner to understand. To stay better protected, be sure to purchase the necessary policy endorsements or any additional policies to prevent gaps in coverage, so you can avoid paying out-of-pocket for a peril that is not covered by your policy.
- Theft: Manor, Texas has a theft rate of 8.717 per 1,000. The personal property coverage portion of your home insurance policy will protect your home and possession against theft, but policy limits exist, and valuables exceeding these limits will require additional coverage such as purchasing scheduled personal property coverage or another form of extended coverage to avoid coverage gaps by fully insure those valuable items. Common examples of possessions that may require additional coverage include art, collectibles, designer clothing, jewelry, musical instruments, etc.
Your TGS Insurance agent will help you find the coverages you need to protect against the most common perils in your area, keeping you prepared in the event you should need to file a claim.
Common Questions About Home Insurance in Manor, Texas
Are homeowners insurance rates going up?
Yes, as the cost of rebuilding homes continues to rise and an uptick in natural disasters around the United States, the cost of homeowners insurance continues to rise. This is because it is riskier for insurance companies to insure homes. By purchasing home insurance now, you forgo higher prices in the future and save more money, overall.
How long does it take to get a home insurance quote?
About 15 seconds or fewer thanks to TGS Insurance. Just provide your address above and we will provide you with an instant quote. Yes, it really is that simple!
Is it a legal requirement to have home insurance in Manor, Texas?
No, it is not a legal requirement to have home insurance for homes in Manor, Texas. With that being said, many lenders will make home coverage a mandatory term of your loan. Furthermore, home insurance is always encouraged because the financial responsibility of paying out-of-pocket to restore or rebuild your home is devastating to many homeowners’ finances.
Trust The Experts at TGS Insurance For Your Home Insurance Needs
TGS Insurance has been serving the great state of Texas since 2017, helping homeowners find the right insurance for their needs. Our agency has rapidly grown into the fastest-growing insurance agency in the Lone Star State helping more than 15,000 customers with more than $4.27B in insured assets.
What’s our secret?
We understand that great home insurance coverage doesn’t have to break the bank, which is why we shop every policy through our bank of 35+ A-rated (or better) carriers to ensure each of our customers are receiving coverage that fits their needs and budget. This way, we always deliver our clients the best policy on the market and can save them money today and for years to come! TGS Insurance handles everything from start to finish and everything in between including enrollment, setting up your payment, and monitoring your policy to provide the best coverage for the best price year after year! We work hard to provide a seamless, stress-free shopping experience that you’ll benefit from long after you enroll.
As an agency, we strive to provide the best possible experience to our clients for buying insurance and we think we’ve found the secret sauce to getting and staying insured easier than ever before. But we don’t want to brag, so 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.
