Best Homeowners Insurance Agencies in McKinney

Frequently Asked Questions

• Introduction

  Homeowners' insurance is a type of property insurance used by private property owners to protect their home and property from a range of risks and liabilities. It is also called home insurance.
  

  
  

  All homeowners' insurance policies cover the primary home on a property, meaning that most damage from weather, accidents, vandalism, and other events will be at least partially paid for by the insurance company. Many policies also include coverage for other structures, personal property, and some premises liability.

  
  

  It is not required by law that a homeowner purchases insurance for their property. However, if you have a mortgage, the lender will usually make purchasing a homeowners' policy a mandatory part of the loan process. Since the mortgage lender is essentially selling you the home, they require you to protect the investment.
  

• Are there any considerations you should make before filing a homeowners' insurance claim?

  Yes. Before turning in your claim to your homeowners' insurance company in McKinney, you should first assess the damage to your home to ensure that the expenses you will incur will materially exceed your deductible. To do so, you may call a professional contractor to perform an analysis of the damage and check the extent of your damage before you file an unnecessary claim.

• Can your homeowners' insurance in McKinney cover the medical costs of a guest who gets into an accident in your house?

  Yes. If a guest gets into an accident in your McKinney residence and they sustain injuries, the personal liability coverage of your homeowners' insurance will take care of their medical expenses. If you happen to cause damage to someone else’s property, personal liability coverage will also pay for it.

• Is it possible to include jewelry protection in your homeowners' insurance policy in McKinney?

  Yes. Policy add-ons, or “endorsements,” allow you to increase or add coverage to your existing homeowners' insurance policy in McKinney. There are endorsements that can include coverage for expensive items like jewelry, fine art pieces, and even electronics. You can also get extra coverage for other needs, such as damage from natural disasters, the backup of sewers or drains, and extra construction or repair costs to meet local building codes.

• Can you get discounts on homeowners' insurance in McKinney?

  Possibly. When it comes to discounts, it’s the insurance company’s call as to what discounts they will offer you. In most cases, residents in McKinney qualify for a discount if they have a newer home or a home in good condition, no claims for three years in a row, other policies with the same insurance company, and a monitored burglar or fire alarm system.

• Is there a sub-limit on water damage for homeowners' insurance in McKinney?

  Since water damage is among the most claimed events for Texas homeowners, insurance companies in McKinney may place a sub-limit on how much water damage they will cover. There are even instances where water damage is completely excluded from a policy. So, when you purchase homeowners' insurance, see to it that this line item is clearly spelled out if you are concerned about it.

• What determines the price of homeowners insurance premium?

  The premium, or monthly cost, of your homeowners' insurance policy depends on several factors, including the value of your home and amount of coverage you choose. Your credit history and whether the property is in a higher risk area also play a role.