Home insurance is one of the best defenses against financial ruin in Porter, TX. Going without a good indemnity plan can lead to a strain on your finances when the unimaginable happens that completely alters your living conditions. Still, knowing the risks associated with going without insurance, some homeowners ponder the notion of not having a home indemnity policy. Is home insurance even required in Porter? The agents at JSI & Associates can help you understand.
Is home insurance required?
There is no official law that requires Texas homeowners to have an indemnity plan. Flood insurance is offered through the National Flood Insurance Program (NFIP) and is required if you reside in an area prone to natural disasters such as hurricanes and tornadoes. Still, some homeowners in Porter, TX choose to go without even the bare minimum protection.
What are the risks?
The risks of going without home insurance are great. You are responsible for all damages in an incident regardless of whether there is enough money in the bank. Some disasters require relocating in addition to rebuilding. You are on the financial hook for all of these expenses when you do not have home insurance.
There is also the issue of natural disasters when you go uninsured. The NFIP is supported by FEMA, which means individuals in compliance have a safety net should a hurricane or tornado sweep their homes away. You do not have such support. It is not uncommon for a hurricane to annihilate a home. You are essentially stuck with the entire cost of rebuilding your home after a natural disaster if you go without insurance.
How much home insurance do you need?
The amount of home insurance you need depends on several factors, including your lifestyle preferences in Porter, TX. Those who do not want to pay a lot of money out-of-pocket after an incident may choose to pay higher premiums for more coverage.
An agent at JSI & Associates can help you determine the type of home insurance plan that best suits your family. Call us today to get started with a quote for coverage.