Homeowners Insurance In San Antonio & Across Texas
What Does Homeowners Insurance Cover?
A typical homeowners insurance policy may provide several types of protection, including:
- Dwelling coverage – Helps pay to repair or rebuild the physical structure of your home following a covered loss.
- Personal property coverage – Helps protect belongings such as furniture, clothing, appliances, electronics, and other personal possessions against covered damage or theft.
- Other structures coverage – May cover structures on your property that are separate from your home, such as detached garages, sheds, fences, or other qualifying structures.
- Personal liability coverage – Can help protect you financially if you are legally responsible for someone else's injury or damage to their property.
- Medical payments coverage – May help pay certain medical expenses when a covered person is injured on your property.
- Additional living expenses – If a covered loss makes your home temporarily uninhabitable, your policy may help with certain additional living expenses while repairs are being completed.
The exact coverage, limits, exclusions, and deductibles depend on the insurance company and policy you select.
What Isn't Usually Covered by Standard Homeowners Insurance?
One of the most important parts of choosing homeowners insurance is understanding what your policy does not cover.
Standard homeowners policies generally do not cover every type of property damage. For example, flood damage is typically excluded from a standard homeowners policy. Damage caused by earthquakes, termites, normal wear and tear, and certain types of water damage may also be excluded or limited. Damage covered by a home warranty will typically not be covered. Damage to your home's foundation, unless caused by a covered peril, will also be excluded from your homeowner's insurance policy coverage.
Replacement Cost vs. Actual Cash Value
When comparing homeowners insurance policies, pay attention to how your home and personal property would be valued after a covered loss.
Replacement cost coverage generally pays the cost to repair or replace covered property at current prices, subject to the policy's terms and limits.
Actual cash value coverage generally takes depreciation into account, meaning the amount paid may be lower because of the age and condition of the property.
The difference can be significant after a major claim, so homeowners should understand which valuation method applies to their policy.
How Much Homeowners Insurance Do You Need?
The amount of coverage you need should reflect the cost to rebuild your home—not simply its market value or purchase price. Your coverage should also take into account the value of your personal belongings and any additional structures on the property. It is a good idea to review your homeowners insurance periodically, particularly after:
- Remodeling or making significant improvements to your home
- Purchasing expensive furniture, electronics, jewelry, or other valuables
- Adding a pool, detached structure, or other significant feature
- Changes in your household
- Changes in construction and rebuilding costs
- Purchasing a new home or refinancing your mortgage
Texas Department of Insurance recommends making sure you have enough coverage to replace your home and personal property after a total loss.
Understanding Your Deductible
Your deductible is the amount you are responsible for paying toward a covered claim before the insurance company pays the remaining covered loss, subject to the policy terms.
A higher deductible can reduce your premium, but it also means you may have a larger out-of-pocket expense when you file a claim. When selecting a deductible, consider what you could comfortably afford if your home suffered a significant covered loss.
Homeowners Insurance for Both San Antonio and Texas State-Wide Properties
San Antonio homeowners and property owners across Texas face a variety of property risks throughout the year, including severe storms, hail, wind, fire, theft, and water-related losses. The appropriate insurance coverage depends on your home's location, construction, age, condition, replacement cost, and other factors.
Rather than choosing a policy based solely on price, compare the coverage, limits, deductibles, exclusions, and available endorsements.
Buying or Refinancing a Home?
If you are purchasing a home with a mortgage, your lender will generally require homeowners insurance. Even when insurance is not legally required, maintaining coverage can help protect your home and personal assets from covered losses.
Why Work With Us?
We understand that homeowners don't always know exactly what type of insurance they need—and that's okay. Our goal is to help you understand your options so you can make an informed decision about protecting your property. We serve homeowners in San Antonio and throughout Texas, and we can assist with more than just a standard owner-occupied homeowners policy. Our insurance services include coverage options for:
- Homeowners
- Landlords and rental properties
- Vacant properties
- Mobile homes
- Renters
- General liability
- Professional liability / E&O
- Businessowners policies
- Commercial property and auto
- Surety bonds
If you're not sure which type of policy applies to your situation, contact us and tell us what you're trying to insure.
Get a Homeowners Insurance Quote
Ready to review your homeowners insurance? Complete our homeowners insurance questionnaire to get started, or contact us directly.
Sams One Stop/Sams Insurance Group
Phone: (210) 788-1034
Email: aaron@samsonestop.com
Address:
4063 East Houston St.
San Antonio, TX 78220
Serving San Antonio & Texas
Whether you're buying your first home, refinancing, replacing an existing policy, or insuring a property involved in a creative-financing transaction, we're here to help you explore your insurance options.
Insurance coverage is subject to the terms, conditions, exclusions, limitations and underwriting requirements of the applicable policy. Coverage is not guaranteed until a policy is issued by an authorized insurance company.
Insurance Policy Structure:
Buying A Home Subject To or Selling Through A Wrap Transaction
If you are an investor or homeowner that recently purchased a property subject to the existing mortgage, and/or you are considering selling the home via a wrap around transaction, below is an overview of how to properly structure the insurance policy.
Since the deed to the property has transferred to a new owner, the current insurance policy will need to be cancelled and replaced with a new policy listing the new owner (or a representative of the entity that owns the property) as the primary insured.
We do not recommend keeping two separate insurance policies on the same property, as should a claim occur, there is a high possibility that both insurance companies may deny the claim by stating that the other insurer is responsible for the loss settlement. Please also note that there is no guarantee that the underlying lender will pay the new policy when it is sent in for payment out of the escrow account.
There may be instances where the escrow department will refuse to pay the new insurance policy because the named borrower on the loan is not listed as the primary insured. Should this occur, please be prepared to pay the new insurance policy directly, with this payment being made outside of the underlying mortgage's escrow account.
SUB TO INSURANCE STRUCTURE:
*Primary Insured: This will be the new owner of the property. Some insurance company underwriters require that the primary insured be a natural person. If the deed has been transferred to an entity (Trust, Corp, LLC, etc), the primary insured will need to be either the trustee of the trust, or the owner of either the corporation or LLC to which the deed to the property has been transferred.
*1st Mortgagee: This will be the loan servicer on the mortgage between the previous owner and the current lender. Please make sure that the loan servicer's or lender's appropriate mortgagee clause is listed, along with the appropriate loan number associated with this mortgage. This information can be found in the previous owner's online mortgage account, or on a recent mortgage statement.
*Additional Insured(s): The previous homeowner that is the named borrower on the underlying mortgage needs to be listed as an additional insured.
WRAP AROUND INSURANCE STRUCTURE:
*Primary Insured: This will be the new owner of the property. Some insurance company underwriters require that the primary insured be a natural person. If the deed has been transferred to an entity (Trust, Corp, LLC, etc), the primary insured will need to be either the trustee of the trust, or the owner of either the corporation or LLC to which the deed to the property has been transferred.
*1st Mortgagee: This will be the loan servicer on the mortgage between the previous owner and the current lender. Please make sure that the loan servicer's or lender's appropriate mortgagee clause is listed, along with the appropriate loan number associated with this mortgage. This information can be found in the previous owner's online mortgage account, or on a recent mortgage statement.
*2nd Mortgagee (if applicable): If the property is acquired subject to the existing mortgage and being sold via a wrap around owner finance transaction, the 2nd Mortgagee will be the seller/lender offering owner financing to a new buyer. A loan number will have to be created and listed related to this transaction as well.
*Additional Insured(s): The previous homeowner that is the named borrower on the underlying mortgage needs to be listed as an additional insured.
Complete Our Questionnaire To Receive A Quote!
Get Homeowners Insurance Coverage In San Antonio or Across Texas Now!
Contact us via phone at (210) 788-1034, or via email at aaron@samsonestop.com. We'd love to speak with you to answer any questions you may have, and to provide you with a timely quote for insurance coverage both in San Antonio and throughout the State of Texas.