How much is home insurance in West Lake Hills, Texas?
West Lake Hills, Texas homeowners spend about $1,249 each year on home insurance, which is about $2,190 less than the Texas statewide average of $3,439. At TGS Insurance, our customers save about $870 a year on homeowners insurance.
What Does Home Insurance in West Lake Hills, Texas Cover?
The standard homeowners insurance policy consists of six basic coverages that protect the structure of your home, personal items, and any liability claims. Let’s review the fundamental coverages that make up your basic HO-3 home insurance policy:
Dwelling Coverage
Dwelling coverage is the basis for all home insurance policies. It offers protection for the structure of your home from a variety of perils such as fire, theft, and vandalism. It will help you rebuild your home in the event of a total loss but only to your policy’s limit so it’s always important that you have the right amount of coverage.
Other Structures Coverage
This coverage will protect any structures not directly attached to your home, like a detached garage, shed, or fence.
Personal Property Coverage
Personal property coverage (PPC) will cover any of your personal items including clothing, electronics, jewelry, etc. up to a certain limit.
Loss-Of-Use Coverage
This pays for living expenses such as hotel or food bills if your home suffers a loss and is deemed temporarily unlivable.
Personal Liability Coverage
Liability coverage protects you from lawsuits for bodily injury or property damage that you, a family member, or a pet caused to someone else.
Medical Payments Coverage
This coverage is designed to cover small injuries and hospital bills such as X-rays, ambulance rides, and minor surgeries for accidents that happened on your property regardless of who is at fault. This does not protect members of your home.
Home Insurance by Coverage Amount in West Lake Hills, Texas
Comparing your home insurance premium to your city’s averages is a great way to see where your policy stacks up. If you’re paying too little, you’re likely underinsured, meaning you’re not carrying enough coverage leaving you financially vulnerable. If you’re paying way over the average, you’re either simply overpaying for your policy or you’re carrying too much coverage. Let’s take a closer look at the average home insurance policy premium by coverage amount in West Lake Hills, Texas:
| Coverage Amount | Average Annual Premium (incl. Wind Coverage) |
|---|---|
| $75,000 | $984 |
| $150,000 | $1,305 |
| $200,000 | $1,518 |
| $350,000 | $2,145 |
*We used the Texas Department of Insurance to calculate premiums. A 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 windstorm coverage was used to pull quotes.
Popular Home Insurance Policy Endorsements in West Lake Hills, Texas
Your home insurance policy will offer you basic coverage but if you’re looking for more protection, there are add-on endorsements to customize your policy even further and fill in any gaps your basic policy may leave out. Let’s review some of the most common home insurance policy endorsements in West Lake Hills, Texas:
- Water Backup Coverage: In Texas, about 1 in 50 insured homes file a claim for water damage each year. Unfortunately, your home insurance policy doesn’t cover all types of water damage including a backed-up sewage drain or broken sump pump. A water backup policy add-on is an affordable way to protect your home from this type of water damage with coverage averaging about $25-$50 per year depending on how much protection you want. At TGS Insurance, our average customer pays about $25 per year for $5,000 a water backup endorsement.
- Equipment Breakdown Coverage: This policy endorsement reimburses you for any equipment breakdowns due to an electrical or mechanical failure. It applies to things like stovetops, washers, dryers, etc. An equipment breakdown add-on is about $20-$50 per year with about $50,000 in coverage, with a deductible of $250-$500.
- Scheduled Personal Property Coverage: Your standard homeowners insurance policy will only protect your personal property to a certain limit. To increase those coverage limits, you’ll need to add on a scheduled personal property endorsement. This add-on will offer additional financial protection to high-priced items such as art, antiques, jewelry, silver or gold, electronics, furs, firearms, and musical instruments. The cost of scheduled personal property coverage is going to be about 1% to 2% of the item’s total value.
Why Buy Home Insurance in West Lake Hills, Texas with TGS Insurance
At TGS Insurance, we believe getting a great home insurance policy should be easy AND affordable. We shop and compare your home insurance policy across our bank of 35+ A-rated (or better) carriers to find you a policy that’s perfectly balanced in the coverage you need at a great value.
We don’t just stop at a great quote though, our team will handle the entire enrollment process from start to finish for a stress-free shopping experience. From getting your policies set up to canceling existing ones, and even working with your mortgage lender- we do it all for you.
We want you to always save on home insurance so every year when it’s time to renew, we’ll re-shop and compare your policy across our bank of carriers to ensure you’re still getting the best rate and coverage (or better) than the market has to offer. Year after year, you’ll never overpay for insurance again!
Shopping for home insurance in West Lake Hills, Texas has never been easier than with TGS Insurance! Our average customer saves $870 a year, don’t wait to see how much you could be saving!
Zip Codes in West Lake Hills, Texas That We Insure:
- 78746
Don’t see your zip code listed? Don’t worry, as long as it’s in Texas, we’ve got you covered!
