Do you know if Home insurance in Houston, TX is required by law? It is surprising to many that it is not required by any state statute. In fact, there is no state in the Union that requires homeowner’s insurance; however, your mortgage lender may require it as a condition of your mortgage. The insurance required by the lender is a contractual obligation instead of a legal requirement. Once your home is paid off, you can drop your insurance.
It is a good idea to contact a good insurance company such as ASAP Insurance Company which has over 18 years of experience with homeowner’s insurance as well as life, automobile, and commercial insurance.
You have probably heard the phrase that everything is bigger in Texas. That applies to homeowner’s insurance as well as everything else. The Insurance Information Institute said that in 2008 Texans paid almost twice the nation’s average for homeowner’s insurance premiums. This amounts to approximately 1,460 dollars per home each year. Fortunately, ASAP has many different coverages and companies in order to find your best options depending on your needs. When you buy your Home insurance in Houston, TX from ASAP, you will always get a good deal!
If you are buying your first home with a mortgage, you have probably never had to purchase Home insurance in Houston, TX. There are a few things you ought to understand about this type of insurance. Sometimes homeowner’s insurance is abbreviated HOI by the real estate industry. It may also be called simply home insurance or hazard insurance. This is a type of property insurance designed to cover a private residence. It is actually an insurance policy with a combination of personal insurance protections. These protections may cover losses to your home’s contents, loss to other personal possessions, and the loss of your home. It also includes liability insurance in case there is an accident at the home.
A home insurance policy is regarded as a multiple-line insurance policy, because it includes both liability coverage and property insurance. It is also said to have an indivisible premium which means that only one premium is paid for all the risks. The home policy is typically a term contract, which means it is in effect for a fixed time period.
