![]() While dwelling and personal contents coverage are the primary components of a good homeowners insurance policy, it’s important for homeowners to consider other policy options that may be necessary to protect all their assets. There are several types of homeowners insurance with different policy options. For example, if a homeowner has a TV that cost $2,000 when they bought it 5 years ago, a policy with actual cash value coverage would pay out the current value of the TV, whereas a policy with replacement cost coverage would pay to replace the item with one of similar value and with similar features without accounting for depreciation. ![]() Actual cash value coverage will help pay to repair or replace damaged items at their depreciated value (less the deductible), whereas replacement cost coverage pays to repair or replace the items at their current value, less the deductible. In general, customers can choose between actual cash value and replacement cost coverage. When searching for homeowners insurance, customers will want to look for a policy that provides enough coverage to pay for repairing or rebuilding the dwelling at current construction prices as well as replacing the personal contents in the home. Insurance companies that make it easy to get rate quotes, file claims, and manage policies also are top contenders for the best homeowners insurance in Texas. Of course, finding a policy that is affordable with regard to both the premium and the policy deductibles is also important. The best insurance companies will also offer a variety of coverage types so homeowners can customize their insurance to ensure their home, personal property, and liability exposure are all adequately covered. To find top-rated homeowners insurance in Texas, customers will want to look for companies that offer policies that cover the value of not only the dwelling itself, but also the personal contents in the home. Photo: What to Consider When Choosing One of the Best Homeowners Insurance Companies in Texas
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