Comparison Shop Home Insurance in Taylor, TX from Multiple Carriers in Minutes!
What is Home Insurance and How Does it Work?
Home insurance protects your home and your finances by providing payments for replacements or repairs to your home and possessions if they are damaged from perils named on your policy. Your home insurance will also provide you with liability coverage that protects you if someone is injured while on your property or if you accidentally cause damage to someone else’s property.
Home insurance usually consists of six basic coverages, including:
Coverage A- Dwelling Coverage: Protects your home’s physical structure of your home and things that are attached to it such as your attached garage, walls, floors, heating and cooling systems, plumbing, etc.
Coverage B- Other Structures Coverage: Coverage that picks up where dwelling leaves off for any structures that are not attached to your home including fences, sheds, or detached garages.
Coverage C- Personal Property Coverage: Protection for personal belongings including clothing, electronics, furniture, jewelry, etc. This coverage extends beyond your property, but your policy will only go up to a certain limit. Items that are higher in value and surpass these limits will require additional coverage for protection.
Coverage D- Loss of Use Coverage: Financial compensation for living expenses should your home become affected by a named peril to a manner in which it is inhabitable. While you wait for the repairs on your home, your policy will help you pay for things such as food and lodging during your displacement.
Coverage E- Personal Liability Coverage: Payment for claims related to property damage or bodily injury caused to others by a member of your household.
Coverage F- Medical Payments: Coverage for injuries to guests when someone becomes injured while on your property, regardless of who is at fault. A typical home insurance policy will cover homeowners up to $5,000.
How Much is Home Insurance in Taylor, TX?
The average home insurance policy in Taylor, Texas costs homeowners $1,493 per year, but this figure may vary depending on a variety of factors and the amount of coverage needed. The average TGS Insurance customer only pays $956 per year, raking in an annual savings of $537 every year!
How Do Insurance Carriers Calculate Home Insurance Rates in Taylor, Texas?
Insurance carriers calculate home insurance premiums by determining the amount of risk they will undertake by insuring you and your home. If your home carries more risk, you’ll receive a higher premium and likewise, homes with less risk receive cheaper premiums. Each insurance carrier will look at different factors such as your home’s age, build type, the materials used, location, and size. They’ll also assess other factors based on you such as your credit score, claims history, and how much coverage you require.
Other considerations include:
- Your home’s roof
- Pets (Certain dog breeds can raise your premium)
- Security systems (Homeowners can save between 5% and 20% by installing a security system in their home)
- How close your home is to the coast
- The crime rate in your neighborhood
- Common weather events (Ex. hurricanes or tornadoes)
- Attractive nuisances (Ex. pool, trampoline, playground, etc.)
Every insurance carrier is different and will assess these factors and more according to their own unique weights and measures. This is why it is imperative that homeowners receive a minimum of 5-10 quotes all from different carriers to find not only the right coverage but also the lowest price on the market. But, we understand that can be a tedious process that takes up a lot of time- which is why we’ll do it for you! The agents at TGS Insurance will shop your home insurance policy throughout our bank of more than 35 A-rated (or better) carriers to find you the best protection for your home at the lowest price on the market! Your time is valuable, so don’t waste it shopping for home insurance. Get your hassle-free home insurance quote in just 15 seconds or less using only your address today!
Average Cost For Home Insurance in Taylor, TX Based on Coverage Amount
Comparing your current home insurance premium may not seem like much to every homeowner, but learning how your coverage stacks up to the amount your neighbors around Taylor, Texas are paying can help you determine whether or not you are overinsured or underinsured. Homeowners paying well above the average, run the risk of being overinsured. This means they are wasting money on insurance coverages they don’t need, or simply may be overcharged for their insurance. Those who are under the average could be underinsured which can lead to vulnerabilities through coverage gaps. This means in the event you experience a loss, you’ll be paying out-of-pocket to restore your loss.
Let’s take a look at what homeowners in Taylor, Texas are paying based on coverage amount:
| Coverage Amount | Average Annual Premium (incl. Wind Coverage) |
|---|---|
| $75,000 | $1,060 |
| $150,000 | $1,414 |
| $200,000 | $1,657 |
| $350,000 | $2,351 |
*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 Supplemental Coverages in Taylor, TX
Your homeowners insurance policy will protect your home and personal belongings from a variety of perils or events such as fire/lightning, break-ins, wind/hail damage, and more. The perils covered in your policy are always listed, usually titled “perils insured against.” The most common homeowners insurance policy is an HO-3 policy. It will protect you from the following perils unless your policy specifically excludes them:
- Accidental overflow or discharge of water
- Aircraft
- Explosions
- Falling objects
- Fire/lightning
- Freezing
- Power surges
- Riot or civil disturbance
- Smoke
- Sudden or accidental damage to a water heater or HVAC unit
- Theft
- Vandalism/malicious mischief
- Vehicles
- Volcanic eruption
- Weight of ice, sleet, or snow
- Windstorm/hail damage
All of these perils can be dangers to your home and are great to gain protection from, however, because no two homes are alike and no two areas are exactly the same, homeowners are wise to gain protection from the main threats to their homes that are specific to their location. For homeowners in Taylor, Texas, this means protection against windstorm/hail events, damage caused by water, and theft. Be sure that your policy carries these protections to avoid being underinsured from these perils should you have to make a claim.
- Windstorm and Hail Coverage: Wind events including hurricanes, tornadoes, and tropical storms are usually covered by your home insurance policy. But depending on where your home is located, windstorm coverage may be excluded leaving homeowners vulnerable to wind and hail damage. Homeowners would need to buy a separate windstorm insurance policy to receive coverage. At TGS Insurance, we automatically write a 2% wind/hail deductible for every policy we issue to give our clients peace of mind knowing that they are protected against such weather events.
- Water Damage: Home insurance policies protect against water damage but only damage caused by “accidental discharge”. This means that the water damage was sudden and accidental in nature and could not have been prevented. Damage from flooding, accidental sewer backup or overflow, gradual water damage from things such as a leaky pipe, and damage due to a lack of maintenance are all NOT covered by your homeowners insurance policy. Understanding what your home insurance policy will and will not cover is important for any homeowner. You should protect your home with the appropriate endorsements and additional policies to avoid coverage gaps that may arise relying on home insurance alone.
- Theft: Taylor, Texas has a theft rate of 7.656 per 1,000 residents. Thankfully, your home insurance policy will protect your belongings under your personal property coverage in the event you suffer from theft. It is important, however, to understand that there are policy limits and valuables that exceed these limits may require additional coverage to keep them fully insured such as purchasing scheduled personal property coverage or some other form of extended coverage. Some common valuables that can exceed policy limits include art, collectibles, electronics, instruments, weapons, etc.
Your TGS Insurance agent can assist you in securing the perfect coverages you need to protect against the most common perils in your area, so you’re prepared should you need to ever file a claim.
Common Questions About Home Insurance in Taylor, Texas
Can I buy homeowners insurance online?
Absolutely! Though, we do recommend speaking with a licensed and trained agent for the best enrollment experience. Either way, we’re ready to help you find the right homeowners insurance policy online or over the phone!
Does homeowners insurance cover water damage from rain?
Your homeowners insurance will cover water damage from the rain so long as it is of a sudden and accidental nature. This means if your roof is damaged during a storm and rainwater were to cause water damage, you’re covered, but if the rain enters your home from a portion of your roof that has been neglected over time, you’ll have to pay out-of-pocket to restore your loss.
What is a homeowners insurance quote?
Your homeowners insurance quote is an estimate of what you’ll pay each month for your home insurance policy. At TGS Insurance, we can provide you with a quick, accurate quote in 15 seconds or less! Click here to get started using only your address!
Trust The Experts at TGS Insurance Agency For Your Home Insurance Needs
TGS Insurance has been helping Texans like you find the right home insurance at a great price since 2017. We’ve rapidly grown into the fastest-growing insurance agency across the Lone Star State with over 15,000 customers insured and more than $4.27B in insured assets.
What’s our secret?
We don’t believe your home insurance coverage has to cost an arm and a leg in order for you to receive great coverage, which is why we individually shop every policy across more than 35 A-rated (or better) insurance brands to deliver our clients the best possible home insurance policy on the market! And we don’t stop there! TGS Insurance will handle the entire process from start to finish including your enrollment and setting up payment for a seamless, stress-free insurance buying experience. Your agent will even monitor your policies year after year to make sure you continue to receive the best coverage on the market for the lowest price possible!
Our agency has an unstoppable drive to provide you with the best customer service experience in the industry and we think we’ve found the secret sauce to 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.
