Category: Home Insurance

What’s one of the most frustrating things about insurance? You guessed it right — filing for a claim only to discover that you are uninsured or underinsured. This is not only frustrating but also messes with your finances. So, if you want to invest in home insurance, you want to ensure that you are covered optimally. As such, Ledford Agency LLC of Midland, TX is here to guide you on the amount of home insurance sufficient for you.

To help you understand the amount of home insurance you need, we need to break it into various insurance coverages. This way, you can understand how much of each category you need.

How much dwelling insurance do I need?

Purchase home insurance adequate to rebuild your home when damaged beyond repair. Instead of using the cost you used to buy or build your home, use the “replacement cost value” since it considers changes in building materials, significant renovations, and other factors.

How much liability coverage do you need?

The liability portion of your home insurance covers you against liability claims, including lawsuits. And since these third-party costs can be expensive, you need sufficient insurance to minimize exposure.

While most home liability coverages offer liability coverage of $100,000, we advise you to invest in liability coverage of between $300,000 and $500,000. Opt for umbrella insurance or excess liability coverage if you have assets and savings worth more than this coverage.

Determining property insurance sufficient for you

Before anything else, please conduct a home inventory for your assets. This way, you will ensure that every item in your possession is covered. Once you establish the value of what you own, invest in insurance that can replace your assets without incurring out-of-pocket expenses (except a deductible).

Learn more about home insurance in Midland, TX

Need to expand your home insurance knowledge? Please get in touch with Ledford Agency LLC for more information. We will help determine home insurance suitable for your current needs.

If you are a homeowner in the greater Midland, TX area, you can rely on the team at Ledford Agency LLC for all of your insurance needs. We know how important your home is, both as an investment and as a key part of your life. Let us help you protect it!

Is it time to upgrade your homeowner’s policy?

There is a lot to consider when you buy a home, and after you make the purchase, you may not think too much about your homeowner’s insurance policy. In fact, you may just continue to renew it year after year without giving it as much as a second glance. While this is entirely understandable, it can lead to problems down the line.

When you stay on top of your current policy benefits and how they compare to your current policy needs, you can move to fill any gaps right away. In fact, many homeowners decide to upgrade their policies once they take a closer look at its protection and overall coverage levels.

Due to increases in your home price or the value of your possessions, your current policy may not be sufficient. Or, you might be interested in adding some new features to the current home insurance policy. Upgrades such as reimbursement for temporary housing can be a wonderful thing to have. If your home is rendered uninhabitable due to a covered event, think about the peace of mind that will come with an alternative housing feature in place.

Find out more today

Ledford Agency LLC is here for you. We want to help all homeowners in the Midland, TX area protect their homes. If you would like to find out more about your policy options, call or stop by our office today!

If you own a home, you know how responsible you have to be to maintain it. Part of being so responsible is getting and keeping a home insurance policy to protect your home. A good home insurance policy also protects you against a wide range of expenses that you could owe without it. If you need a home insurance policy, don’t hesitate to call us at Ledford Agency LLC in Midland, TX.

Protection for the Home

One part of home insurance is the protection it provides to the house itself. This is protection in case of damage being caused to your home by an incident like an accident, calamity or disaster. When the worst happens, there can be a lot of damage to your home- it may even be destroyed. When this happens, without home insurance you would have to pay for all of it yourself. Few people could afford to rebuild their home if it was destroyed, so it’s smart to get this insurance. 

Protection for Belongings

When you get a home policy, it also provides coverage for what you own that is inside the home. If something major were to happen that destroyed some of your things, your policy can help you to replace or repair them. This coverage can help you to get back to your normal life much sooner than you could without this coverage. 

Liability Protection

In addition to those types of coverage, your home insurance also offers you liability protection. If you were to have someone in your home who then fell or had another kind of accident, you could be responsible for the ensuing medical bills and even their lost wages. With your home insurance policy, you are covered for this situation, and the policy will pay those bills. 

Get a Home Policy

To get your home policy, call us at Ledford Agency LLC in Midland, TX.

Homeowner’s insurance isn’t required by the state of Texas. However, if your home is mortgaged, the lender will require you to keep insurance on it until it’s paid off. It’s a good idea to continue home insurance after paying your home off to protect your home and belongings.

What are the Types of Home Insurance?

Ledford Agency LLC offers several different types of homeowners insurance on a standard policy. The dwelling coverage portion will pay you for repairs or the replacement value of your home in the case that you incur damages from a covered peril. Personal property coverage covers the contents of your home when they are damaged or stolen. Other structure coverage will pay for damage to a detached garage, fences, and storage buildings on your property. Personal liability coverage will pay medical bills and lost wages in the case that you are responsible for damaging another person’s property. Loss of use coverage will pay for your living expenses while your home is being repaired. This can include rent and any other items you need that you would not otherwise need if not for an accident to your home. Medical payments will cover the medical bills of people who are accidentally hurt in your home or on your property.

What are Covered Items in Midland, TX?

Your homeowner’s insurance policy covers several different perils including fire, lightning, water breaks, theft, explosions, vandalism, and malicious mischief as well as aircraft or vehicle damage. Windstorms, hurricanes, and hail storms are covered if you do not live on the coast.

What are other types of Coverage?

Depending on your exact location, you may be able to add flood insurance on your home and property. This is not routinely covered in the original home insurance policy. Floods can happen in any part of the state and not only from hurricanes on the gulf coast. You can also add extra coverage for expensive or collector’s items that you own.

Trust Your Insurance Professionals

At Ledford Agency LLC we can help you to decide exactly the perfect amount of insurance that you need to be fully covered. You can call the office or drop by to speak to a highly knowledgeable professional at our office in Midland, TX.

Moving into a new home marks the start of new-found freedom, a necessary step up for anyone looking to get some independence within the Midland, TX area. But with freedom comes responsibility, a factor that will call for basic comprehension of home insurance. Luckily, Ledford Agency LLC can help with this, with the following coverage options coming in handy for new homeowners and anyone looking to refresh their understanding of home policies.

Content Coverage

If you have ever lost any personal belonging, chances are you understand how expensive some items can get, an aspect that significantly increases when dealing with household items. Content coverage pays for property destruction after vandalism occurs or when you experience electrical or water damage. In addition to this, it also provides reimbursement during a theft.

Dwelling Coverage

Dwelling coverage protects the structure of your house, with the focus being on areas such as ceilings, walls, floors, and built-in appliances. Perils insured under this policy generally include fire, hail, and vandalism.

Liability Coverage

Liability coverage takes care of bodily injury claims and property damage to guests. In instances where the injured party files a lawsuit, liability coverage also helps pay for expenses such as legal fees and any compensation awarded during the trial.

Medical Payments Coverage

If you lack liability coverage, medical payment coverage is another ideal policy to consider getting as it will provide protection when your guests get injured. Items covered by medical payments coverage include hospital bills and other injury-related examinations.

Additional Living Expenses Insurance

When your home becomes uninhabitable due to substantial property damage, getting accommodation elsewhere will be your next option. Additional living expenses insurance pays for your accommodation costs and other expenses arising from your stay in hotels. Note, however, that your living costs are only covered when the cause of damage falls under insured perils.

Please take advantage of Ledford Agency LLC’s home insurance and give us a call today. We also offer reliable services in life insurance, condo insurance, and RV insurance for Midland, TX residents to keep you protected all year long.

People that are in the Midland, TX area likely have found that owning a home is a great way to build long-term wealth. If you would like to own a home in this area, you will want to ensure that you always get the right insurance for it. There are a few different reasons that the typical property owner in this area of Texas should get a full home insurance policy for their property. 

Insurance Protects Your Most Valuable Asset

An important reason that you need to have home insurance for your property in Midland is that it is a valuable asset that you need to protect. Buying a home will always be a major purchase and investment. If you get a home insurance policy, you can protect this as it will give you the coverage needed to repair it if there is a situation that results in damage. 

Insurance Offers Liability Protection

You will also need to get home insurance because it will offer you liability protection. Anyone that is going to own property in this area of Texas will want to know that they are covered in the event they are on the wrong side of a liability claim. If you get a full home insurance policy, it will offer you the liability support that is needed to offset this risk and give you the necessary protection.

A home insurance policy is always a good idea for people in the Midland, TX area. When you are ready to start looking for a new home insurance plan, it would be beneficial to call the Ledford Agency LLC. With the Ledford Agency LLC, you will get the guidance needed to understand your risks and how they can be mitigated with a proper insurance plan. 

Your standard homeowner’s insurance can give you basic liability protection for your home and possessions as they are when you are insured. However, life happens, and changes are often made. 

Ledford Agency LLC in Midland, TX can help you with changes in your homeowner’s policy. Our experienced staff has worked with countless homeowners over the years to get the best and most affordable policies to suit our clients’ changing needs.

Contacting Your Agent About Changes to Your Home

If you are considering adding or changing your home in some way, whether, with a bathroom remodel or basement makeover, it is helpful to know what will and will not be covered by your homeowner’s insurance. Some common home and property that affect insurance are:

• Installing a pool – Pools can have a double effect of adding value while adding liability. Getting more liability coverage will be wise in the event of an accident involving outside parties.
• Renovating major rooms like the kitchen – These improvements can add a lot of value to a home, especially if high-end fixtures and furnishings are used, increasing insurance needs. 
• A new roof – This can be a significant project that could save money in the long run. Insurers may give discounts for new roof builds in some cases.
• Adding a home business office – Depending on how large your home business is or how expensive equipment and assets are, you may need additional coverage beyond what homeowners cover.
• Expansions and additions – Adding new rooms and spaces to your home tend to increase the value meaning more insurance will likely be needed.

Your Texas Insurance Agency

Doing a home remodel can be a significant investment. It can get costly and detailed. At Ledford Agency LLC in Midland, TX, our agents are here to help. Contact us today to discuss your homeowner’s insurance options.