Houston Condo Insurance

Find Affordable Houston, TX Condo Insurance

With the 5th largest metropolitan area in the U.S., Houston is famous for its seemingly endless suburbs. Perhaps it is because the city is so spread out that so many new condominiums are being built in the more densely populated parts of town like Midtown, Uptown and the Galleria Area. Even in the suburbs, residents are enjoying the benefits of co-operative living. If you own a condo or townhome in this sprawling city, be sure to protect your investment with a suitable Houston condo insurance policy.

When shopping for a condo insurance policy, you can turn to an independent agent in the Trusted Choice® network for assistance. These agents have relationships with several different insurance providers, so they can easily provide you with a variety of competitively-priced policies from which to choose. Contact a member agent in your neighborhood today to start comparing Houston condo insurance quotes.

Houston Condominium Facts

  • Average price of a Houston Condo: $173,155
  • Average U.S. contents value for condo owners: $55,000
  • Average Texas homeowners insurance rate: $1,560
  • Average Texas condo insurance rate: $400

When considering purchasing a condominium or townhome, be sure to read the by-laws and trust agreements sanctioned by the condo association. There will likely be a master insurance plan that provides insurance coverage for the structure of the building and all common areas. As a condo owner, you will only be responsible for insuring everything within your unit. This typically includes interior walls and ceilings, permanent fixtures and any home improvements you make.

What Is Houston Condo Insurance?

Condominium insurance, also known as HO6 insurance, is a type of homeowners insurance specifically designed to meet the unique needs of condo owners. If you experience property loss or damage because of fire, weather or property crimes, your condo insurance policy can protect you from the financial burdens associated with replacing or repairing your property. These policies also provide coverage for liability claims that may be brought against you.

Condo insurance costs much less than traditional homeowners insurance because it does not need to provide coverage for the structure of your building. You also have decreased liability risks because any injuries sustained by guests outside the boundaries of your unit, such as on walkways or common areas, will be covered by the condo association’s master plan.

Houston Condo Insurance Covers Your Personal Property

Fires have the potential to cause a great deal of property damage. Cooking fires and carelessness with candles or cigarettes are some of the most frequent causes of residential fire loss. Additionally, wildfires in the Houston area are a threat faced by condo owners in the suburbs. Your condo insurance policy will provide you with compensation for personal property loss or damage due to fires.

Severe weather such as severe thunderstorms, tornados and hail can play a role in causing property damage. While the majority of the damage will be to the building’s structure, if winds or water enter your unit, it can mean thousands of dollars in property damage. If this happens, you can rely on your Houston condo insurance for coverage.

Houston Property Crime Statistics

  • In 2011, Houston residents reported 27,459 burglaries
  • This equates to 12.81 burglaries for every 1,000 households
  • By comparison, the national burglary rate is only 7.02 burglaries per 1,000 households

Theft and vandalism are the most common causes of property loss and damage for condominium owners. Fortunately, most condos and townhome communities are secured by high-tech entry-management equipment, gates or fences. These preventive measures are not always enough to keep intruders at bay. It can be very stressful to be the victim of burglary or malicious property damage, but you can take some comfort in knowing that your Houston condo insurance policy will help you replace your lost items.

Houston Condo Insurance Provides Liability Protection

Accidents sometimes happen at home, and if they happen to result in extensive injuries, you could face major costs. If a visitor to your home is injured, you could find yourself facing expensive medical bills and punitive fees.

Your condo insurance liability coverage can even compensate you for the cost of damages or injuries caused by your children or pets, whether they occur on or off your property. If a covered event requires causes you to accrue court costs or legal fees, this liability coverage will provide compensation for those expenses, as well.

Get Affordable Houston Condo Insurance

When you are shopping for a condo insurance policy, be sure that you are familiar with the bylaws of your condominium association’s master insurance policy. That way, you can make sure that you are neither lacking in necessary coverage nor paying for coverage you already have. An independent agent in the Trusted Choice network can help you in review your master policy and can provide you with a selection of policies that offer suitable coverage.

It is easy to find a Trusted Choice network agent in your neighborhood. These agents can help you find the right condo insurance policy for your needs and budget, and may even be able to find ways to help you save money on your other insurance policies. Contact a local member agent today to start comparing competitively-priced Houston condo insurance quotes.

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