Homeowners insurance protects you from financial
losses caused by storms, fire, theft, and other events outlined
in your policy. It is important to know what's in your policy.
This publication gives you general information about homeowners
insurance, but it is not a substitute for the policy itself.
Make sure you read your policy carefully and understand your
specific coverages.
Texas's Consumer Bill of Rights for Homeowners
and Renters Insurance
You can buy a dwelling policy that covers only the structure of
your house. Or, like most Texans who own their homes, you can
buy a homeowners policy, which combines five different types of
coverage:
Dwelling - pays for damage to your house and any outbuildings,
such as detached garages and storage sheds.
Personal property - pays when household items, including
furniture, clothing and appliances, are damaged, stolen, or
destroyed.
Liability - protects you against financial loss if you are found
legally responsible for someone else's injury or property
damage. A homeowners policy automatically provides $25,000 in
coverage. You can buy up to $1 million in coverage for an extra
premium.
Medical payments - pays medical bills for people hurt while on
your property.
It also pays for some injuries that happen away from your home,
such as your dog biting someone. A basic homeowners policy pays
$500 in medical bills. You can pay extra and get up to $5,000 in
medical payments coverage.
Loss of use - pays living expenses if your home is too damaged
to live in during repairs. The most common policy pays up to 20
percent of the amount for which your house is insured. |
