Homeowners Insurance in Southlake, TX

Experts break down homeowners insurance costs, coverage, companies, and more in Southlake, TX.

Ann Herro, Insurance Expert Written by Ann Herro
Ann Herro, Insurance Expert
Written by Ann Herro

Ann Herro has been writing about insurance and employee benefits for over 15 years. She has covered topics as easy as insuring a car, and as difficult as transparency in healthcare costs.

Reviewer: Jeffrey Green Reviewed by Jeffrey Green
Reviewer: Jeffrey Green
Reviewed by Jeffrey Green

Jeff Green has held a variety of sales and management roles at life insurance companies, Wall street firms, and distribution organizations over his 40-year career.  He was previously Finra 7,24,66 registered and held life insurance licenses in multiple states. He is a graduate of Stony Brook University.

Beautiful view from an estate home overlooking a swimming pool. How to Find the Best Homeowners Insurance in Southlake, Texas.

Southlake, TX is a suburb of Dallas-Ft. Worth with over 31,000 residents.

If you own a house in Southlake, TX, you’ll want to protect it from threats like fire, theft, vandalism, and severe weather. What’s more, you’ll want to protect your assets from the costs of lawsuits if you are sued for something that happens on your property. You can do that with reliable homeowners insurance.

An independent insurance agent can help you find the best home insurance in Southlake, TX. Independent agents can help you get quotes from multiple insurance companies to make the best choice for your needs and budget. 

What Is Homeowners Insurance?

Homeowners insurance protects you from the financial consequences of most property losses you could experience, including damage caused by a catastrophic storm or by a simple hailstorm.

Homeowners insurance also includes liability coverage, equally important to protect your financial stability. It protects you when someone claims you have caused an injury or property damage. 

What Does Homeowners Insurance Cover in Southlake, TX?

Home insurance in Southlake, TX includes the following types of property coverage:

  • Dwelling coverage: Pays to repair and rebuild your damaged home.
  • Contents coverage: Pays for damage to your insured personal property, such as furniture, clothing, artwork, etc.
  • Other structures coverage: Covers any detached structures on your property (e.g., sheds, fences, detached garages).
  • Loss of use coverage: Pays for additional living expenses (hotel bills, food, etc.) if you are forced to live elsewhere while your home is being repaired.

Your dwelling coverage will help you repair or rebuild your house after a covered loss, and your contents coverage will help you repair or replace damaged or destroyed possessions. It's essential to have enough coverage to ensure you’ll be fairly reimbursed if you have a loss. 

Homeowners insurance in Southlake, TX also includes homeowners liability coverage. It protects you when someone claims you have caused an injury or property damage. It covers the injured party's expenses (e.g., medical bills, property repairs) and your legal fees if you're sued. After a lawsuit, it can even cover financial settlements or court-ordered judgments.

What Is Not Covered by Homeowners Insurance in Southlake, TX?

Every home insurance policy in Southlake, TX includes a variety of coverage exclusions. 

First, the liability coverage in your homeowners insurance policy has certain limitations. If, for example, you hurt someone intentionally, your liability coverage will not cover you. You can find all the exclusions to your liability coverage in your policy documents.

What’s more, your property coverage will not cover every problem under the sun. Almost all homeowners insurance policies in Southlake, TX will exclude coverage for property damage caused by the following:

  • Ordinance or law (e.g., demolition or construction required to bring your house up to code)
  • Earth movement (e.g., earthquakes, sinkholes, landslides)
  • Water damage due to floods, sewer backups, and water that seeps through the foundation
  • Power failure
  • Neglect
  • War
  • Nuclear hazard
  • Intentional acts
  • Governmental action (e.g., destruction, confiscation, or seizure of covered property by any governmental or public authority)
  • Loss to property resulting from faulty zoning, bad repair or workmanship, faulty construction materials, and defective maintenance

Flooding, for example, can be a significant concern for many homeowners, but homeowners insurance in Southlake, TX does not cover flood damage. Flooding can be a problem in some areas of Texas. It is one of the top five risks for homeowners in the state. 

Fortunately, Southlake has only a minor flood risk. But that doesn’t mean that flooding can’t happen. 

You can discuss whether you need to purchase flood insurance to supplement your home insurance policy with your insurance agent. If necessary, your agent can help you purchase flood insurance from the National Flood Insurance Program (NFIP), a program established by the federal government to help homeowners recover after a flood event.

How Much Does Homeowners Insurance Cost in Southlake, TX?

Texas is the third most expensive state for homeowners insurance in the US. Average homeowners insurance premiums in Texas are higher than the national average. 

  • National average annual homeowners insurance premium: $1,211
  • Texas average annual homeowners insurance premium: $1,893

Actual home insurance rates quoted by your local independent insurance agent will be more or less than average. Home insurance rates are calculated on a case-by-case basis and are based on factors such as: 

  • The size of your house, the year it was built, and the age of your roof
  • The estimated cost to rebuild your home (replacement cost)
  • Your history of filing claims and your credit score
  • Your coverage limits and deductible amount
  • Whether you are purchasing other policies (e.g., car insurance, life insurance) with the same insurance company (home insurance bundles)

Moreover, every insurance company uses a different formula to calculate its rates, so premiums vary from carrier to carrier. Shopping around to find the policy and insurance company that best fits your needs and budget is essential. 


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What Common Disasters and Claims Are Covered by Homeowners Insurance in Southlake, TX?

Major disasters and mundane, day-to-day events can cause property damage and lead a homeowner to file an insurance claim. Texas has experienced 360 federally declared disasters since 1953. The top five property risks for homeowners in Texas are:

  • Wild and residential fires
  • Flooding and water damage
  • Hurricanes and tropical storms
  • Burglary and other property crimes
  • Severe storms and lightning

Your home insurance in Southlake, TX can help you recover from most of these kinds of losses. For example, if you experience a burglary, your home insurance coverage can be the key to quickly getting back to normal. 

The statewide burglary rate in Texas is higher than the national average: 

  • Number of burglaries per 1,000 people in the US: 3.76
  • Number of burglaries per 1,000 people in Texas: 4.11

You can't take your home's safety for granted, no matter where you live. It's important to safeguard your home from burglaries, break-ins, and vandalism. Home insurance in Southlake, TX, helps you pay for damage to your home, as well as repairing or replacing stolen or damaged possessions. 

Cheap Homeowners Insurance Near Me

Finding the best rate on home insurance in Southlake, TX is essential to staying within your budget. But simply buying the cheapest homeowners insurance near you can also lead to problems later.

It’s probably best to avoid simply choosing the cheapest coverage you can find. Instead, shop around for the policy that offers the best coverage to protect your home and that fits your budget. Suppose you don't have enough homeowners insurance when something goes wrong. In that case, the financial consequences could be far more devastating than spending a few extra dollars a year to ensure that you have adequate coverage.

Many factors influence the cost of your homeowners insurance, from how claim reimbursements are calculated to whether or not certain types of losses are covered. You can usually offset better coverage by choosing higher deductibles. 

The best strategy is to discuss these issues with your independent insurance agent before deciding which policy offers the best value for your needs and budget.

What Are the Best Homeowners Insurance Companies in Southlake, TX?

Finding the best homeowners insurance companies in Texas can be simple. A local independent insurance agent can help you get home insurance quotes from multiple insurance companies so that you can select the best policy for your needs and budget.

How Can an Independent Insurance Agent Help Me Find the Best Homeowners Insurance in Southlake, TX?

Instead of getting an online quote, find an independent insurance agent now, and get one-on-one consultation and affordable options for the best coverage for your unique needs. Your agent will work with you free of charge, offering you a variety of options so you can make the best choice. 

What’s more, your agent will be there for you when claim time comes. They know the ins and outs of the process and will make sure your claim is handled appropriately.

Contact an agent today for a free, no-obligation consultation.

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