What Natural Disasters Does My Texas Home Insurance Cover?

Although the weather in Austin, TX is pleasant, there are times when it goes a bit crazy. Thunderstorms, extreme heat, gusty winds, tornadoes, and the occasional ice storm can wreak havoc in the city. Furthermore, these conditions can cause damage to your home, which is where home insurance comes in handy. However, what natural disasters does it cover?

What is Covered?

According to The Policy Source, a typical home insurance policy covers damage related to wind, lightning, hail, and tornadoes. Fires resulting from a lightning strike or another natural situation are also covered under a standard policy. 

It’s best to review your home insurance paperwork to confirm your natural disaster coverage. If you don’t see something listed, reach out to your agent to see if it can be added to a home insurance policy. If not, ask if there’s a rider available to handle additional coverage. 

What is not Covered?

Natural floods, mudslides, and landslides aren’t covered in standard home insurance policies. These require the purchase of riders or additional insurance programs to increase your protection. In most cases, agencies don’t recommend them if you aren’t in an area prone to the conditions.

If you’re in an area of Austin, TX that sees regular floods or mudslides, you want to get the appropriate insurance. Finance companies won’t approve mortgages for homes in flood-prone areas unless you purchase a program. Make sure to contact your local government agency to determine if you’re home is in a flood plain.

No matter what policy you choose, make sure your home is sufficiently protected from paying for natural disasters. Contact the representatives at The Policy Source to get started. 

Should you have home insurance in Austin?

The Austin, TX area has continued to be a fast-growing part of the country. Those that live in this part of the state continue to enjoy many amenities and professional options. Because of this, Austin is also a great place to purchase a home. If you are going to buy a home in this part of Texas, you will want to know that you are properly insured. You should have a home insurance plan for a few different reasons. 

Coverage Mitigate Liability Risk

An important reason to have a home insurance plan when in the Austin area is to ensure you can mitigate your personal liability risk. There is always a chance that an accident can occur at your home that will cause property damage or injuries to another person. In either situation, you can be held liable for any damages that are caused. Fortunately, you will be able to mitigate this concern and risk by getting a home insurance plan that will have liability insurance.

Coverage Protects Home

You also should get a home insurance plan to ensure that your assets are protected. With a home insurance plan, you can obtain coverage to repair your property if it is damaged. You also can obtain coverage that can be used to cover any personal assets you own, which mitigates the risk of theft or damage. 

As you are looking for a new home insurance plan when you are in the Austin, TX area, you will want to know that you are picking an ideal insurance plan. A great way to ensure that you are picking a good plan is by speaking with The Policy Source. The professionals with The Policy Source can offer you a lot of guidance that will help ensure you pick a plan that is ideal for your situation. 

What You Need to Know About Home Insurance

Your home will probably be one of the biggest investments you will make during your life. For this reason, you will want to properly protect this investment. The best way to do this is by having the right home owner’s insurance in place. At The Policy Source serving Austin, TX, we are here to help educate you on important insurance topics. Keep reading to learn more about home insurance. 

The Importance of Home Insurance 

You have invested a lot of time and money into your home. This makes it an important financial investment. However, your house is more than a financial investment. Your house is where your family calls home, and therefore it also carries with it an important emotional aspect as well.  Losing a home has devastating consequences both financially and emotionally. Home insurance seeks to help relieve some of that uncertainty, by providing a way to ensure that you will always be able to provide a safe home for your family. 

What Does Home Insurance Cover?

Home insurance, like most insurance products, can be customized. The best way to find out what types of coverage you need, is to sit down with an insurance rep and discuss your particular circumstances. In general, though, home insurance will cover the following areas.

Property Damage: Property damage coverage is the most important aspect of your policy. This coverage will kick in if your home is lost or damaged because of fire, natural disaster or burglary. The policy will help to pay for your home to be repaired or replaced and can also pay to have personal property replaced as well. 

Liability Coverage: Liability coverage can help pay expenses that are incurred in the event someone is injured in your home or on your property. This coverage can protect you from expensive medical bills or legal fees associated with the injury. 

If you would like to learn more about home insurance, please contact our staff at The Policy Source, serving Austin, TX.

How to Customize Your Home Insurance to Fit Your Lifestyle

Your Austin, TX home, family, and lifestyle are all unique. Why should your home insurance look like everyone else’s? Here are some ways you can make your home insurance policy from the Policy Source better match your singular circumstances.

Review Your Deductible

Like any insurance policy, your home insurance deductible is the amount of money you’ll have to pay for repairs or replacements before your policy kicks in. This is one of the easiest yet most underrated ways of customizing your contract.

Choose a higher deductible if you need to save some extra cash from your periodic premiums. Choose a lower Deductible if your emergency savings are strong enough to help you navigate sudden storms.

Insure Your Business

When your home is also your office, insurance matters quickly get complicated. Your home insurance may not cover the equipment, products, or events that support your business activities. In a catastrophic event, you could lose both your home and your business without the proper coverage.

Add commercial insurance coverage to your protection package to keep your home business activities safe. Talk to our agents about insuring your business with commercial auto, liability, property, and other policies.

Protect All of Your Assets

Do you love collecting high-end jewelry, popular works of framed art, music, collectible toys and memorabilia, musical instruments, or any other items? Your collection represents a significant monetary investment. Are you sure your policy can cover the costs of replacing and repairing your special items as well as your everyday items? 

Your insurance agent can help you understand the limits of your policy coverage, then work with you to ensure your special items get all the protection they need too.

There are endless ways to make your Austin, TX area home insurance policy just as unique as you. Contact the friendly agents at the Policy Source for more help understanding your insurance options.

Is It Necessary To Keep Home Insurance Coverage If Your Home Is Paid Off?

Every homeowner that finances is required to provide adequate home insurance coverage until their home is paid off. After your home is paid off, you may be wondering if you should continue to keep your home insurance coverage.


Your home is one of the most valuable assets most people will own in their lifetime. The average home today is worth over $100,000 and is filled with thousands more in furnishings and other personal items. If you neglect to carry home insurance to protect your home and its belongings against a covered event, then you stand to lose it all if there is a catastrophic event such as a fire. Old and new homes alike are susceptible to fires and other damage, which is why you should always maintain your homeowners’ insurance.

Adequate Coverage

When you purchase home insurance, you want to make sure that you are not overpaying to help you stick to your budget. One of the most effective ways to get the right insurance is to consult an experienced insurance agent. They can help you take inventory of your belongings, as well as correctly assess the value of your property to be included in the insurance policy. To contact an authorized insurance agent representing Austin, TX, The Policy Source is ready to answer your home insurance questions and address any concerns.

If you are looking for high-quality home insurance products in or around Austin, TX, The Policy Source is ready to assist you. From purchasing home insurance to submitting a claim, they are there to help you every step of the way.



Dealing With a Pest Infestation

A homeowners insurance policy is primarily intended to protect the structure and restore it after certain types of damage. That can include fire, weather, accidents, and loss of value from damage. Also, such policies include a set amount for restoring personal property inside the Austin, TX home as well. However, homeowners insurance policies and pest infestations present an odd situation. Some pest situations can affect the structure, such as termites, for example. On the other hand, while irritating and needing an immediate response, many other pest infestation types have nothing to do with the structure and more to do with the homeowner’s responsibility to keep the home clean.

First, the homeowner has an obligation to do something right away when a pest infestation is found, according to the Policy Source. That means eradication and calling in a service to get rid of the pests adequately, so they don’t cause further damage. This is not the insurance provider’s responsibility.

Second, there may be damage found once the pests are removed, and the area cleared out. In most cases, a policy won’t cover such expenses for repair. There are limited instances, though, where it could be involved. For example, if termites have damaged a load-bearing beam in the home’s frame, and it has caused secondary damage to the home, the secondary damage may be covered but not the beam replacement. A lot depends on the actual language of the policy and the circumstances of the pest infestation. 

The expert insurance staff at the Policy Source can help parse between different situations and the most likely types of pest problems in Austin, TX and the surrounding areas. If you’re worried about a potential pest issue in the general region affecting your home, work with our agents to craft the right protection for your home.

Call our office or visit us to have your questions answered and find the help you need when crafting a homeowners policy.

Homeowner Tax Deductions

If you’re a homeowner, it can pay off at tax time. We want homeowners in the Austin, TX area to take advantage of your tax deductions. Make sure you are taking all the home tax deductions you’re entitled to receive. Here are some homeowner related tax strategies and deductions that may help lower your year’s tax bill. 

  • One of the best deductions is your mortgage interest deduction. Even if your loan was for something other than your home, like college tuition, as long as your home secures the loan, you could deduct the mortgage interest.
  • Any property taxes paid are deductible.
  • Deduct the cost of PMI or FHA mortgage insurance premiums.
  • Use the Nonbusiness Energy Tax Credit for upgrading your home to be more energy-efficient.  Sample upgrades are a Biomass stove, heating and air conditioning systems, adding insulation, roofing of metal and asphalt, non-solar water heaters, adding energy efficient windows and doors.
  • Vacation home tax deductions can be tricky, but you may be able to deduct the mortgage interest and real estate taxes.
  • Prepaid interest, or points, paid for the initial mortgage are 100% deductible.  If you refinanced, you might be eligible for a portion of the tax deduction. 

Not all of the tax deductions are straightforward and it may pay to work with a professional to make sure you properly claim all deductions you’re entitled to each year. Keep records of expenses over the year to help you claim all deductions you’re eligible to claim.

The Policy Source

The Policy Source provides homeowner’s insurance coverage for the Austin, TX area. Like annual tax deductions, your home insurance may cover things you never thought about, and we want you to be informed.  Work with one of our agents to use your home policy to its full benefit.

Does Home Insurance Cover Damage From Break Ins?

When it comes to home insurance there are plenty of things that your policy might cover that you never thought of. Knowing what your policy covers is going to make a huge difference in how easily and quickly you select the policy that is right for you. For those in the Austin, TX area, the agents with The Policy Source can help you find the policy that works best for you.

Your home policy certainly does cover damage from break-ins. If you can properly document the break in and if you turn it in to the police, you can turn the report in on your home insurance for a claim. Often when someone breaks into a home they tend to destroy things like door frames in an attempt to enter the home, they may also damage windows, and often damage walls and other areas in the process of taking things.

Your home policy will cover the cost of repairs and will also help you to pay for the items that were stolen as well. Your home insurance policy does also cover contents of your home and you can make a claim about what was stolen to help you recover your items. Your home policy will require proof of break in and in some cases if you have an alarm or security system, the company will pay your home owner’s deductible if the alarm was armed when the break-in occurred. No matter, your home insurance does a great deal to make sure you are protected from top to bottom.

For those in the Austin, TX area, the agents with The Policy Source can help you find the policy that is going to work best for you and for your individual needs and requirements.  

Why do I need Living Expenses Coverage with my Home Insurance?

A home is frequently someone’s most valuable investment and deserves to be protected with home insurance. While most people understand that they need home insurance to cover the structure and value of the home, many people neglect important additions that they might need with their home insurance. For example, many people neglect to ask whether or not their home insurance policy covers living expenses. Some people might even wonder what living expenses coverage means. Some of the most important information regarding home insurance and living expenses coverage is below.

Home insurance is important because it provides financial support for people whose homes are damaged or lost for a wide variety of reasons; however, sometimes a home is damaged beyond repair. The home might not be safe to live in due to severe damage of total loss. In this scenario, the individual or family will be forced to live on the road as they search for a new place to go. The price of eating out and staying in a hotel room for an extended period time can cause the bills the pile up quickly. This will place a substantial amount of financial stress on a family. Therefore, people should ensure that their home insurance policy covers living expenses. This is an additional layer of coverage that will provide funds for families forced to stay in a hotel or an apartment for an extended period of time in the event that their home is damaged beyond the point of livability.

Everyone living in Austin, TX should ensure that their home insurance policy includes living expenses. People should contact an experienced insurance agent serving Austin, TX with any questions. The Policy Source will make sure that every family’s most valuable assets are protected.

Steps to buying your first home

Whether you are buying a home in Austin, TX or the surrounding areas The Policy Source is the place to go for all your insurance needs and even offer great advice. The Policy Sources even offers steps to buying your first home so you can avoid buying mistakes.

The first step is to research the real estate in the areas you are wanting to buy in. See how long the homes stay on the market in certain areas and check the housing trends. Then you should determine how much you can actually afford. Determine what your financial situation is and try not to choose a home that is more than three times their annual household income. Try to save for a down payment. Next, get pre-qualified and pre-approves for credit for a mortgage. This can be a tricky spot, just because a person gets approved for a certain amount does not mean they can really afford it, but that goes back to creating a budget. This step is important to see what your price range is before you start looking.

Then you can find the right real estate agent. You want one who is informed with the housing market and has knowledge of the home buying process. Once you and your realtor find a home you can make an offer. It is smart to check the plumbing, electrical, open windows and doors, traffic, and things that it is near. If these work for you then you can make an offer. Then you will need to get a home inspection to decide if anything needs to be fixed before closing. If things go well you can work with a mortgage banker to select the loan that is right for you.  

The lenders will set up the home to be appraised to make sure it is worth their investment and if so you can then coordinate the paperwork and close the sale. Don’t forget about insurance, so call The Policy Source in the Austin, TX area so we can get you the homeowner’s insurance coverage you need.