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What is Home Insurance?
Homeowners insurance provides financial protection against disasters. A standard policy
insures the home itself and the things you keep in it.
Homeowners insurance is a package policy. This means that it covers both damage to your property and your liability or legal responsibility for any injuries and property damage you or members of your family cause to other people. This includes damage caused by household pets.
Damage caused by most disasters is covered but there are exceptions. The most significant are damage caused by floods, earthquakes and poor maintenance. You must buy two separate policies for flood and earthquake coverage. Maintenance-related problems are the homeowners’ responsibility.
What Does Home Insurance Cover?
A standard homeowners insurance policy includes four essential types of coverage. They include:
The Structure of Your House
This part of your policy pays to repair or rebuild your home if it is damaged or destroyed by fire, hurricane, hail, lightning or other disasters listed in your policy. It will not pay for damage caused by a flood, earthquake or routine wear and tear. When purchasing coverage for the structure of your home, it is important to buy enough to rebuild your home.
Your Personal Belongings
Your furniture, clothes, sports equipment and other personal items are covered if they are stolen or destroyed by fire, hurricane or other insured disasters. Most companies provide coverage for 50% to 70% of the amount of insurance you have on the structure of your home.
Liability Protection
Liability covers you against lawsuits for bodily injury or property damage that you or family members cause to other people. It also pays for damage caused by your pets. So, if your son, daughter or dog accidentally ruins your neighbor’s expensive rug, you are covered. However, if they destroy your rug, you are not covered.
Additional Living Expenses
This pays the additional costs of living away from home if you can’t live there due to damage from a fire, storm or other insured disaster. It covers hotel bills, restaurant meals and other living expenses incurred while your home is being rebuilt.
Home Insurance in South Texas: What McAllen Homeowners Need to Know
Living in the Rio Grande Valley means navigating home insurance requirements that most of the country never has to think about. Between flood exposure, coastal wind risk, and an active storm history, a single homeowners policy often isn’t enough. Here’s what matters most.
FEMA Flood Zones in Hidalgo and Cameron Counties
Both Hidalgo and Cameron counties have been federal disaster areas following multiple flood events and participate in FEMA’s National Flood Insurance Program. High-risk properties (Zone A and Zone AE) face a 1% or greater annual chance of flooding, but flood maps are updated regularly, and your zone can change. Check your current designation at msc.fema.gov or ask your Safeguard agent.
Why Your Homeowners Policy Doesn’t Cover Flooding
A standard homeowners policy covers wind, fire, and hail. It does not cover flooding, from any source, ever. Storm surge, rising rivers, ground-level rainwater accumulation: none of it. Flood coverage requires a completely separate policy through the National Flood Insurance Program (NFIP) or a private insurer. Most flood policies carry a 30-day waiting period, so don’t wait for a named storm to buy one. Your Safeguard agent can help you get covered today.
Texas Windstorm Insurance Association (TWIA)
If your property is in Cameron or Willacy County, your standard homeowners policy likely excludes wind and hail coverage entirely. TWIA, the state-created insurer of last resort for Texas coastal properties, fills that gap with a separate windstorm policy. Coastal homeowners typically need three policies for full hurricane protection: standard homeowners, TWIA windstorm, and flood. TWIA doesn’t sell directly; your Safeguard agent handles the application. Hidalgo County homeowners: ask your agent whether a windstorm endorsement is right for your policy.
Hurricane Deductibles: Know Your Number Before a Storm Hits
Texas allows insurers to apply a separate, percentage-based deductible for named storm damage on top of your standard deductible. On a $300,000 home, a 2% hurricane deductible means $6,000 out of pocket before your insurer pays anything. At 5%, that’s $15,000. Review your policy now, not after a storm. Your Safeguard agent can tell you exactly what triggers yours and what you’d owe..
Our Safeguard agents know the RGV. Contact us today for a free review of your home, flood, and windstorm coverage.
What is an Umbrella
Policy?
If you are ever sued, your standard homeowners or auto policy will provide you with some liability coverage, paying for judgments against you paying for your attorney’s fees, up to a limit set in the policy. However, in our litigious society, you may want to have an extra layer of liability protection. That’s what a personal umbrella liability policy provides.
An umbrella policy kicks in when you reach the limit on the underlying liability coverage in a homeowners, renters, condo or auto policy. It will also cover you for things such as libel and slander.
For about $150 to $300 per year you can buy a $1 million personal umbrella liability policy. The next million will cost about $75, and $50 for every million after that.
Because the personal umbrella policy goes into effect after the underlying coverage is exhausted, there are certain limits that usually must be met in order to purchase this coverage. Most insurers will want you to have about $250,000 of liability insurance on your auto policy and $300,000 of liability insurance on your homeowners policy before selling you an umbrella liability policy for $1 million of additional coverage.
Source: Insurance Information Institute
How Much is Home Insurance & Other Frequently Asked Questions
Learn more about home insurance by exploring the answers to common questions, and then contact us for additional information.
- Look at quotes side-by-side
No more contacting multiple carriers to get comparable quotes. As a one-stop shop for insurance coverage, our experienced team gathers the very best deals for the customized coverage you need so you can choose from among many competitive offers. Easy-to-compare quotes and tailored coverage make getting the right insurance easy.
- Consider more than price
As a full-service insurance agent, SafeGuard is committed to tailored insurance solutions. No more finding quotes that offer too much or too little coverage. No more comparing quotes based only on price. Our dedicated team finds the solutions you need so you can look beyond price to get total peace of mind.
- Will homeowners insurance cover my valuables?
A standard homeowners policy will usually cover the personal belongings inside your home. However, you may need to add coverage specifically for your valuables, because your homeowners policy may place limits on the value of items that they cover or exclude certain items from the policy. Your agent can help you find the right coverages to add to your homeowners insurance policy.
- When should I increase my homeowners coverage?
Your policy coverage amount will depend upon your home, location, and other factors (e.g. pets, safety features, etc.). If anything about your home or living circumstances changes, you should let your agent know. In particular, alert your agent when you move, complete improvements, and conduct renovations and additions to your home. An annual review of your policy with your agent can make it more likely that you always have the right coverage for your needs.
- Do I need to create an inventory of my belongings?
An inventory of your belongings is not necessary to get homeowners insurance in Texas. However, it can be useful to have such a list stored in a secure location if you ever need to file a claim.
- Does homeowners insurance cover flood damage?
No, and this is one of the most critical things South Texas homeowners need to understand. Standard homeowners insurance does not cover flooding of any kind, regardless of the cause. That includes storm surge, overflowing rivers, and rainwater that enters your home from the ground up. Flood coverage requires a completely separate policy, most commonly through the National Flood Insurance Program (NFIP) or a private flood insurer. Most flood policies also carry a 30-day waiting period before they take effect, so don’t wait for a storm to be named before purchasing one. Ask your Safeguard agent about your flood coverage options today.
- What is a hurricane deductible?
A hurricane deductible is a separate deductible that applies specifically when a named storm causes damage to your home. Unlike your standard deductible, which is typically a flat dollar amount, a hurricane or named storm deductible is calculated as a percentage of your home’s insured value, commonly between 1% and 5%. On a $300,000 home, a 2% hurricane deductible means you pay $6,000 out of pocket before your insurer covers the loss. Texas is one of 19 states where insurers are permitted to apply these percentage-based deductibles for named storm events. Your policy documents specify exactly what triggers yours; ask your Safeguard agent to review this with you before hurricane season.
- Reevaluate your coverage with life changes
Life happens. When it does, your insurance needs may change. What life changes may lead to insurance changes? Marriage, divorce, home renovations, purchasing or selling a house, starting a business, buying a luxury item or vehicle, getting a pet, and more. Here at SafeGuard, our professional team is ready to adapt your coverage at any time. Just give us a call!
- Weigh the benefits and discounts
With multiple competitive quotes to choose from, you can easily compare the benefits, discounts, and prices of each to find the very best deal. Our team uses our established relationships with carriers to get you the lowest rates and the most favorable discounts. All you have to do is consider your options to find the perfect insurance solution for you.
- Does homeowners insurance cover a home business?
Usually, your homeowners insurance will not cover a home business. A business owner’s policy may be necessary to protect your business instead, even if it operates out of your home.
- Can I get discounts on my homeowners insurance?
Possibly. Some policies do offer discounts if your home has certain safety features such as alarm systems, fire protective devices, smart home technology, and more. Ask your agent to help you identify any discounts for which you may be eligible.
- Do I need windstorm insurance in addition to my homeowners policy?
If you own property in a coastal county in South Texas, including Cameron or Willacy County, your standard homeowners policy very likely excludes wind and hail coverage. In those areas, wind and hail protection comes from a separate policy through the Texas Windstorm Insurance Association (TWIA), the state-created insurer of last resort for Texas coastal properties. TWIA covers wind and hail damage only; it does not cover flooding, which requires yet another separate flood policy. TWIA does not sell policies directly; your Safeguard agent can help you determine eligibility and handle the application. McAllen and other Hidalgo County homeowners should ask their agent whether their standard policy includes windstorm coverage or whether an endorsement is recommended.
- What should I know about filing a weather-related claim in Texas?
Under Texas HB 1774 (effective September 1, 2017), before you can file a lawsuit against your insurer over a weather-related property claim, including hurricane, wind, or hail damage, you are required to provide the insurer with formal written pre-suit notice. This notice must describe the dispute, the acts or omissions at issue, and the amount you believe is owed. The law also reduced the penalty interest insurers must pay for wrongful claim denials. Note: HB 1774 applies to most private homeowners policies but does not apply to NFIP flood policies or TWIA windstorm claims. The best way to protect yourself is to document your property thoroughly before any storm, file your claim promptly after a loss, and work with a trusted agent. Your Safeguard agent can help ensure your claim is documented and submitted correctly from the start.
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