Whether you’re new to Texas or you’ve finally reached an age or economic level to begin thinking about insurance coverage, you need to know the ins and outs of insurance in Texas. Because what you don’t know about Texas insurance can actually hurt you, we’ve highlighted four important facts that drivers and homeowners can benefit from and should learn before they begin shopping.

In Texas, Auto Insurance is Mandatory

Like most states, Texas requires drivers to carry a set amount of auto insurance. Their concerns are with liability and property damage coverage. These types of coverage protect others that a driver might cause harm to in an accident, but don’t do anything to protect the driver or their property which is why, when buying auto insurance in Texas, you may want to buy more insurance than you’re actually required to have. When you buy or lease a vehicle from a dealer, they may have additional insurance requirements that exceed those of the state of Texas. This is because the lender and dealer will be more concerned about protecting their own financial interest, which is in the vehicle that you’re driving and still making payments on.

Texas Lenders Will Require Home Insurance

When you borrow money to buy a home in any state, including Texas, it’s likely the lender will require you to maintain insurance on the property. While they won’t be concerned about your having coverage for the furniture and other contents, they will expect you to maintain a certain amount of property insurance. In Texas, property owners are at risk of high winds, hurricanes, tornadoes and other disasters. A home insurance policy is the best way to protect their home — and what could be their biggest single investment.

Home Insurance Doesn’t Cover Flood Damage in Texas

Texas residents are ready for the storms nature throws at them, and part of that readiness is understanding what is and isn’t covered by their various insurance policies. Home insurance in Texas, as in other states, doesn’t cover damages caused by rising flood water. That means that if your home is in a flood zone or you’re simply concerned that you could face future flooding, you’ll need to buy a flood insurance policy to ensure adequate protection. For those with a mortgage living in a flood zone, you will likely find that your lender requires you to carry flood insurance along with home insurance at least until your mortgage is paid off.

Texas Insurance Is Cheaper When Bundled

When people buy multiple lines of insurance coverage for their Texas homes and vehicles, they often get significant discounts when they bundle that coverage and purchase it all through a single carrier. Not only is bundling policies a great way to save on premiums, it also makes premium payment and policy management much easier.

If you need to shop for insurance in Texas, call on the professionals at https://www.texasquotes.com/homeowners-insurance/ to get you started. Together, you can find the best rates with the most secure companies so that your assets and finances are fully protected.