Laredo, Texas, serves as one of the largest cities in Texas. Its location on the U.S.-Mexico border also gives it an international flavor, and, indeed, trade with America’s southern neighbor is a major portion of the city’s economy.
Due to its rich history and culture, the population of Laredo has grown significantly over the past decade. As the number of residents grows, so does the need for housing. In turn, it’s become more important than ever to insure your home against a variety of unique and common risks. For more on how Laredo home insurance can help your needs, make sure to read on.
What Risks Does Your Laredo Home Face?
Extreme weather and property crime are common issues for Laredo residents. So, those seeking Laredo home insurance must understand the potential risks their homes face:
Fire: A fire can occur in any home at any time. The damage a fire incurs is often traumatic, as it’s not just the flames that can harm your home, but also the resulting damage from smoke and water.
Flooding: If your home sits near the Rio Grande River, flooding can be a concern. Standing water can lead to a variety of issues, such as mold growth, structural integrity damage, and ruined personal items.
Hurricanes: Laredo sits far enough from the Gulf of Mexico to blunt most of the severe damage caused by hurricanes. However, lingering storms can still destroy homes and wreak havoc on your property.
Extreme weather events: Beyond the specific weather-related events listed above, strong winds, severe thunderstorms, and intense heat all frequently occur.
Theft and vandalism: While Laredo sits below the national average for property crime, these types of events do still occur.
What Does Your Current Home Insurance Cover?
During your search for Laredo home insurance, you should seek to understand how each policy could protect your home. Many policies do not contain provisions for flood damage, though you shouldn’t have an issue finding a supplemental policy that adds additional coverage.
Additionally, you should always look for a home insurance policy to protect yourself if someone gets hurt on your property. Even if a simple fall in your yard or your home could lead to disastrous financial outcomes if you aren’t insured.
What Types of Home Insurance Are Available?
Generally, there are four types of Laredo home insurance policies you should be aware of:
No Frills: This basic policy provides you with the least amount of coverage of the four home insurance policy types. However, if home insurance is required by your mortgage company, they may require you to purchase a policy with additional coverage.
Basic: This type of policy is also referred to as “named perils.” It will protect your home and personal property for specifically named perils but you may find yourself unprotected if the damage is caused by something not explicitly listed in the policy.
Broad: This policy serves as a common middle ground for homeowners. Your home will be covered should there be physical damage or loss. However, there are often specific exclusions listed in the policy that it will not cover.
Comprehensive: The most extensive and expensive form of home insurance. It will have the least number of exclusions and should provide homeowners with peace of mind.
How Can You Save Money on Your Home Insurance?
At HUB International, we work with homeowners to find the best policy for their needs at the lowest possible price. Get a personalized quote today!