Happenings at Triangle Realty

What is Homeowner's Insurance?

Jun 27, 2017

Many first time homebuyers are unsure what homeowner's insurance really includes, how it protects them, and if it is required. Here are some answers to a few of the most common questions people ask about homeowner's insurance. 

What is Homeowner's insurance?

Homeowner’s insurance is a package policy of property insurance that covers homeowners for damage or loss to a home and often much of its contents.  This type of policy also protects homeowners from liability or legal responsibility for any accidents, injuries, or damage caused by the home’s residents.

Is Homeowner's insurance required?

Most states don't require you to have homeowner’s insurance if you legally own a home. But if you're among the 70 percent of Americans who finance their homes with a mortgage, your lender probably requires you to have at least basic homeowner’s coverage. So, even though there are no state laws requiring home insurance, it's still necessary for most homeowners.

Even if you don’t have a home mortgage and are not required to have homeowner’s insurance, it is wise to do so.  A natural disaster could heavily damage your property and for most families could be devastating.  Insurance gives you the peace of mind to know your investment is safe.

What does Homeowners insurance usually cover?

Most homeowner’s insurance policies will cover damage caused by fire, wind, hail, lightning, theft or vandalism. There are other homeowner’s policies that cover additional perils as well. Typically, floods and earthquakes are excluded.  Just as no two homes are created equal, homeowners insurance policies can be customized to meet the needs of a wide variety of homes and homeowners. Need help choosing the right homeowner's insurance policy for you? Click here to learn more!

What is the typical cost of homeowners insurance?

According to the Federal Reserve Board, the average cost of an annual premium for homeowner’s insurance is between $300 and $1,000. For most homeowners, you can expect to pay roughly $35 for every $100,000 value of your home. Of course, this all depends upon the size, age and location of your home.  It is always wise to contact a local provider and get a quote.

Who does Triangle Realty recommend for homeowners insurance in the Texas Panhandle?  

Our brokerage doesn’t recommend any one particular insurance provider.  We do, however, advise our clients to get multiple quotes so that you get the best value and appropriate coverage for your property.

Triangle Realty has a list of vendors that we have personally used in the past or have exceptional reputations locally.  We feel that these trusted vendors deliver on their promises and, more times than not, provide amazing customer service to our clients. Our list of preferred vendors, from home inspectors to appraisers and from Christmas light installers to carpet cleaners, can help you find the desired service you are looking for. At Triangle Realty, your REALTORTM is more than just your sales agent.  We are your friend and trusted advisor and we strive to exceed your expectations in all areas, not just real estate!

You can learn more about our preferred vendors by downloading our app (search for ‘Triangle Realty’) in the App Store or Google Play store or by viewing online by clicking here!

DISCLAIMER: The broker/owners of Triangle Realty have partial ownership in HD Insurance

Events Triangle Realty LLC

NCBA - National Cattlemen's Beef Association Convention & Tradeshow
Feb 1-3, 2017
Gaylord Nashville, TN
Click here for more information

Texas & Southwestern Cattle Raisers Convention
March 31 - April 2, 2017
San Antonio, TX
Click here for more information

27th Annual Outlook for Texas Land Markets
April 20-21, 2017
San Antonio, TX

World Championship Ranch Rodeo
Nov 2017
Amarillo National Center, Amarillo TX
Click here for more information
Come see the Triangle Booth!

Farm & Ranch Show
Nov 28-30, 2017
Amarillo, TX
Click here for more information
Come see the Triangle Booth!

Dallas Safari Club Convention
Jan 2018
Click here for more information

Panhandle Groundwater Conservation District Symposium
Spring 2018
Amarillo, TX
Click here for more information

NCBA - National Cattlemen's Beef Association Convention & Tradeshow
Feb 1-3, 2017
Gaylord Nashville, TN
Click here for more information

Texas & Southwestern Cattle Raisers Convention
March 31 - April 2, 2017
San Antonio, TX
Click here for more information

27th Annual Outlook for Texas Land Markets
April 20-21, 2017
San Antonio, TX

World Championship Ranch Rodeo
Nov 2017
Amarillo National Center, Amarillo TX
Click here for more information
Come see the Triangle Booth!

Farm & Ranch Show
Nov 28-30, 2017
Amarillo, TX
Click here for more information
Come see the Triangle Booth!

Dallas Safari Club Convention
Jan 2018
Click here for more information

Panhandle Groundwater Conservation District Symposium
Spring 2018
Amarillo, TX
Click here for more information

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