Buying a home in Texas is the best decision you will ever make in life. However, it is a considerable investment that requires careful planning and lots of research. If you have already found your dream home, it is not yet time to relax because you still need to think about home insurance. Depending on your needs, Church Street Financial Services recommends learning everything about home insurance before settling for any home insurance company.

Why do you need home insurance?

Your mortgage lender may require you to buy home insurance to protect this investment. Many people buy home insurance to protect themselves, loved ones, and the entire investment. For instance, let’s say you just purchased a home, but by bad luck, the house caught fire, and everything got burned down. Would you have enough money to buy another home elsewhere and furnish it? Almost impossible. That is where home insurance saves you.

What are the coverage options available?

The basic home insurance comes with several coverages designed to protect the house, the contents, and the occupants. Some of the coverages include:

• Property damage liablity
• The dwelling coverage
• Other structures coverage
• Bodily injury liability
• Medical payments
• Additional living expenses
  

How much insurance do you need?

Home insurance needs vary from one homeowner to another. That means no two homeowners will pay the same premiums despite being neighbors or having similar properties. Many factors play a role in determining your insurance needs. Your insurance company will ask you questions like where you live, the type, size, and materials used to build your home, the number of people living in that home, and other personal details. These questions determine your premium rates.

While home insurance is not mandatory in Texas, protecting yourself and your loved ones should be required. So, don’t wait until a disaster hits your home to buy insurance. You might never be able to recover from the losses, especially if it’s a big accident. If you are unsure about your home insurance needs, contact Church Street Financial Services to learn everything about home insurance.