This city began as a train stop by a watering hole, just a place to fill 19th-century steam engines. In the past decade, it has become the fastest-growing city in the nation, as suburban growth from Dallas, Fort Worth, and Plano begins to spill even farther north. Both CNN and Forbes Magazine have listed this city as one of the best places to live in the US. If you own property in this growing area, be sure to find good Frisco, TX homeowners insurance.
Home Insurance Frisco
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Cost of Homeowners Insurance in Texas
- National yearly premium average: $1,034
- Texas yearly premium average: $1,661
- 3rd most expensive premium in the US
Frisco is mostly an affluent suburb in the DFW Metropolitan Area. There is certainly a lot of modern construction, including master-planned communities like Lone Star Ridge, but it also still contains a sprinkling of historical housing leftover from the early days. Your own Frisco homeowners insurance policy rates depend upon the house’s neighborhood, value, age, and construction methods.
Frisco Homeowners Insurance Coverage Types
Most homes will be covered by a policy that includes a fairly standard package of coverage. These are some popular coverage types you can discuss with a local agent. Note that policies may have exclusions, so your policy will only compensate you for covered damage or injuries.
- Property: Both the building and external structures, like a garage or fence, could be covered.
- Home contents: This helps cover the things you keep inside your home, like furniture, electronics, and clothes.
- Liability insurance: If a visitor claims that your action or inaction caused them an injury or property damage, this can help cover you.
- Relocation assistance: If your home becomes uninhabitable for a covered reason, this can help pay for you and your family to find temporary lodging.
It is important to know what is covered, but also what is not covered. For example, typical Texas homeowners insurance policies cover fire, strong winds, burglary, hail, and vandalism, but do not cover floods. To protect against natural floodings, such as excess rain, and overflow from local streams, you need separate flood insurance from the National Flood Insurance Program in addition to your basic Frisco homeowners insurance policy.
Number of Catastrophes In Texas and the US
- The national number of catastrophes: 19,033
- Number of catastrophes in Texas: 1,935
- The national number of tornadoes: 1,233
- Number of tornadoes in Texas: 221
- National property damage from weather: $5,511,270,000
- Property damage from weather in Texas: $1,026,150,000
This entire Frisco area is prone to windstorm damage, both from tornadoes and major storms that travel up from the Gulf Coast. Even though the area has a humid subtropical climate, it does experience occasional hail storms and freezes as well. Area springs flood periodically after heavy rains as well. Special natural disasters such as wildfires and earthquakes are usually not covered, but you may be able to purchase protection as a rider to your policy.
Theft in Texas
- The national average for burglaries: 37,814
- Texas number of burglaries: 190,898
While typical home policies do cover burglaries, homeowners may be wise to take a few precautions.
- Make sure that personal property coverage is adequate. Some homeowners underestimate the value of the things they keep inside their homes. Also, if you have one or two very valuable items, they should probably have endorsements of their own.
- Take a home inventory. This will help you calculate the value of your personal possessions and make claims.
- Consider installing a home security system to help prevent burglaries before they happen.