Is your most valuable asset protected? Do you live in or near the Highland Village, TX area? If so, see the professionals at Thompson Insurance Services to get the homeowners insurance you need.

One of the essential things about homeowners’ insurance is the level of coverage. The most common level of coverage is HO-2, which is a broad policy that protects against 16 different perils as outlined in the policy.

In the event of a total loss, insurance provides the primary source of funds to rebuild your home. It provides liability coverage for legal actions resulting from damage or injury to another person.

Homeowners’ insurance protects against many different perils. The most common causes of claims are theft, wind, weather-related and non-weather-related water damage, and hail. These five causes account for 77% of all homeowners’ insurance claims.

You will need enough coverage to cover the cost of rebuilding the home if it is destroyed. It would be best if you had personal property coverage limits of at least 50% of your dwelling coverage amount. If you take an accounting of all the personal property inside your home, you will be surprised when you figure out how much it is worth. Ensure your liability limit is at least high enough to cover all assets.

Some things you should know about a homeowners’ insurance policy:

• Understand any exclusions in coverage, such as earthquakes or floods
• Any dollar limitations on claims
• Know the replacement cost and the actual cash value
• Understand the liability coverage

Even if you are one of the fortunate homeowners who live mortgage-free, you should still purchase this protection. In the event of a lawsuit, it will protect your equity and enable you to keep your home.

If you want a no-obligation quote, contact Thompson Insurance Services today. You will be glad you did.