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Facts About Homeowners Insurance

Facts & Homeowners Insurance Coppell TX

Understanding Home Insurance Coverage

Homeowners across the globe purchase the proper insurance to protect their investment. Whether you are just now purchasing your first home and first homeowners insurance policy or simply want to ensure your current property is best protected, keep these facts about homeowners insurance in mind for adequate protection.

Facts About Homeowners Insurance In Coppell, TX:

  • While you may think that you can opt out of homeowners insurance coverage when you purchase your new home, most banks and lenders will require you to seek proper coverage before granting the loan. This is because they want to ensure their investment is best protected.
  • You may be able to reduce the amount you spend on homeowners insurance simply by opting for additional coverages through the same carrier. This includes bundling your homeowners insurance coverage with your auto insurance or life insurance policy.
  • Homeowners need to know that insurance companies will require the homeowner to carry a minimum dwelling coverage based on the replacement cost value derived by the insurance company.  Replacement value will most likely be higher than the market value of the home because there are other related expenses in the rebuilding of the home causing it to cost more to rebuild than the price that you could sell your house.
  • You can seek extra coverage for your valuables simply by opting for homeowners insurance endorsements or riders. This includes a valuable articles endorsement, which provides your jewels and other expensive possessions with replacement coverage.
  • Keep in mind that homeowners insurance coverage does not guarantee your protection from everything. There are a handful of exclusions that the standard homeowners insurance policy has, including exclusions for flood and earthquake damages. In areas that are prone to these disasters we encourage you to purchase separate policies for these events.

Contact Mike Leonard Insurance Agency for all of your North Texas homeowners insurance needs. We can help you obtain homeowners insurance in Coppell, TX that optimizes your home’s protection.

At Mike Leonard Insurance Agency, our goal is to serve our clients with comprehensive personal insurance solutions at affordable prices. Because we are an independent agency, we are able to prioritize our clients' needs without having to worry about confounding factors such as commissions or overhead costs.