Odessa homeowners know the importance of insuring residences. Although Odessa has a lower risk of tornadoes than the rest of Texas and the national average, thunderstorms with high winds, hail and floods can damage properties in Ector and Midland counties. HUB can help you determine the right policy for home insurance in Odessa TX.
What Homeowners Insurance Covers
A homeowners insurance policy should provide adequate coverage for partial or complete losses. Comprehensive coverage through HUB helps Odessa homeowners cover the costs of reconstruction, living expenses and replacing or restoring valuables. Here are the most important types of coverage under standard homeowners’ insurance:
Fire damage: Homeowners insurance covers damage due to fire, which may result in a partial or total loss and require restoration and rebuilding.
Water damage: Damage that occurs when water enters a home, such as a pipe break, may be covered. It is important to maintain a property and keep detailed records to ensure coverage for water damage claims.
Storm damage: Storm damage poses a significant risk to residential properties in Odessa. Wind speeds are highest between late February and mid-July, and most damage claims are made during the spring.
Temporary relocation: Home insurance in Odessa TX can also include coverage for living expenses and meals if the policyholder and other occupants are temporarily unable to live in the insured property due to damage.
Reconstruction costs: The best homeowners insurance policies provide coverage for complete loss and rebuilding if a property gets seriously damaged or destroyed by a covered peril.
Coverage to Supplement Homeowners Insurance
Maintaining home insurance in Odessa TX can cover many risks to which a property may be exposed. Some hazards, such as flooding, are excluded from homeowner’s insurance policies. The following types of coverage may be available in the form of additional policies or as endorsements or riders on home insurance:
Condo insurance: Condo and co-op unit owners need additional insurance on top of the master insurance policy for a building. A HUB International broker can help condo owners identify and fill in gaps in coverage.
Flood insurance: Flood damage is excluded from most homeowners and other property insurance policies. External water can cause thousands of dollars of damage, and is a risk posed by heavy rainfall from frontal-type storms in Odessa.
Earthquake insurance: The risk of earthquakes in Odessa and across the Permian Basin has been rising over the last ten years. Although these quakes are minor, insurance coverage can give homeowners more peace of mind.
Personal property insurance: Home insurance in Odessa TX only provides limited coverage for replacing valuables. A personal property insurance policy can supplement this coverage.
Personal umbrella insurance: Personal umbrella insurance provides additional liability coverage for homeowners, renters, or other policyholders.
Valuables insurance: Valuable items such as fine art, jewelry and other prized possessions may require additional coverage on top of a homeowners insurance policy.
Odessa residents can benefit from getting homeowners, condo, or renters insurance policies through HUB International. Get in touch with one of our brokers to discuss home insurance in Odessa TX. When you need to make a claim, agents and adjusters will work with you to cover the cost of rebuilding or restoring damage.
Insure Your Home Today
Contact one of our brokers to build the best policy for home insurance in Odessa TX. Protect your home from known hazards and find out more about options for personal coverage.