Common Individual Coverages
Covers physical damage and bodily injury losses for which the insured is liable as a result of owning or operating a vehicle. It can also provide protection for the insured against uninsured and underinsured motorists. Most states require motorists to carry liability insurance to cover their financial responsibility to others for causing accidents.
Boat & Watercraft
Limited coverage for small watercrafts may be included in a homeowners insurance policy, but separate policies are available for bass, fish, ski and jet boats, yachts, sailboats, pontoons, and personal watercraft like jet skis and wave runners. These policies offer added protection for property damage, bodily injury, uninsured boater, medical payments, collision, personal effects, towing and fuel spill.
Pays to repair or replace a home and its contents that are damaged or lost by storm, fire, theft, water damage or other events listed in the policy. It can cover just the structure of the house or include coverage for unattached structures like fences and storage sheds, personal property, expenses arising from the loss of use of the home, liability from property damage and injury to another person at your home as well as their medical payments. There are several standardized Texas homeowners insurance policies, but they are offered at different rates by different carriers and can carry endorsements for added protections.
Farm & Ranch
Covers many of the same property risks as homeowners insurance, and it can provide coverage for barns, arenas, farm outbuildings and structures, machinery and equipment, livestock, grain and hay. It can also provide liability coverage for farm operations including injury to visitors, use of farm machinery, animal accidents and damage.
Flood & Earthquake
Standard homeowners insurance does not cover flood and earthquake damage. Separate policies must be purchased for both perils. The cost of coverage depends on how prone the area is to flood and earthquake. The National Flood Insurance Program (NFIP) is a federal disaster program that offers coverage to participating communities.
Windstorm, Hurricane & Hail
Homeowners insurance policies may exclude windstorm, hurricane and hail damage for coastal properties. A separate policy can be purchased to provide coverage for these perils through the Texas Windstorm Insurance Association.
Protects the home and detached structures against damage resulting from fire, lightning strike, collapse, explosion, smoke, vandalism, wind, hail or other risks listed in the policy. Since it doesn’t cover property inside the home, it is most applicable to vacant or rented properties. Coverage can be added by endorsement for contents, lost rental income and liability for property damage and bodily injury.
Provides protection against liability and damage to recreational vehicles, personal belongings and appliances as well as losses resulting from collision, theft and vandalism. Policies are available for motor homes, travel trailers and fifth wheels and can include towing expenses, vacation liability and uninsured and underinsured motorists.
Provides additional liability coverage once the limits of the underlying homeowner or auto policy have been exhausted. It can also provide coverage for claims that may be excluded by the primary policies. Coverage is typically in $1 million increments.
Pays to replace or repair a tenant’s personal property if it’s stolen, damaged or destroyed in a rented home or apartment. The landlord’s insurance covers the building structure, but not the tenant’s belongings. Coverage can include personal property like furniture, clothing and electronics, expenses arising from the loss of use of the rented property and liability.
Covers property in the course of construction. It typically applies not only to property at the construction site, but also to property at off-site storage locations and in transit. Builders risk protects against building damage and damaged or lost materials, fixtures and equipment used in construction or renovation. The estimated completed value of the project is used as the limit of coverage, and protection ends when the work is completed.