Texas Insurance: What You Need to Know

The cause of a possible loss, such as fire, theft, windstorm, or collision.

A separate, typically higher deductible that applies specifically to wind and hail damage, often expressed as a percentage of the dwelling coverage limit rather than a fixed dollar amount.

An ISO commercial property coverage form providing the most limited coverage, insuring only against specifically named perils such as fire, lightning, explosion, windstorm, hail, smoke, aircraft, vehicles, riot, vandalism, and sprinkler leakage.

Florida's state-run property insurer of last resort, providing coverage to property owners who cannot obtain insurance in the private market, primarily for hurricane and windstorm exposure.

Texas's state-run windstorm and hail insurance pool providing coverage for coastal properties that cannot obtain coverage in the private market, covering 14 coastal counties and portions of Harris County.

The primary coverage in a homeowners insurance policy that protects the physical structure of your home, including walls, roof, floors, built-in appliances, and attached structures like an attached garage. This coverage pays to repair or rebuild your home if it's damaged or destroyed by a covered peril such as fire, wind, hail, or lightning. The coverage limit should reflect the cost to rebuild your home at current construction prices, not the home's market value or purchase price.

A residual market mechanism (also called Wind and Hail Underwriting Association) that provides wind and hail coverage for coastal properties unable to obtain coverage in the voluntary market. Common in hurricane-prone states like South Carolina, North Carolina, Texas, and Louisiana.

A state-sponsored property insurance program that provides wind and hail coverage for coastal properties in hurricane-prone areas. Beach Plans operate as residual markets when private insurers decline to provide coverage. Also known as Wind Pools or Wind and Hail Underwriting Associations.