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Additional Types of Insurance in Texas

Besides the main staples of the Texas insurance industry, such as Health, Life, Auto, Home, Pet, and Commercial, Texas insurance market offers a variety of other types of insurance coverages - to suit the specific needs of individual residents and businesses.

The 7 most common “other” types of insurance coverages in Texas are:

  1. Smartphone insurance
  2. Travel insurance
  3. Ransomware insurance
  4. Identity Theft Insurance
  5. Personal umbrella liability insurance
  6. Defi & Crypto insurance
  7. Bond insurance

Phone Insurance

Helps with covering the costs of phone repair - if damaged, or replacement - if lost or stolen. (read more about phone insurance)

Travel Insurance

Usually purchased to cover emergency medical expenses while traveling, but can also include coverage for lost luggage, airfare re-booking fees, hotel reservations, and much more. (read more about travel insurance)

Ransomware Insurance

Is a part of a cyber insurance group of policies, which cover the loss of equipment, viruses, data breaches, liability claims of others against you because of your breach, and more. (read more about ransomware insurance)

Identity Theft Insurance

Covers a portion of the costs associated with re-establishing and clearing up the identity records of the insured, as an aftermath of an identity theft. (read more about identity theft insurance)

Personal Umbrella Liability Insurance

Is an excess policy, which covers the insured for liability in excess of other policies they may have, which already provide a certain amount of liability coverage (auto, homeowner, etc.) (read more about umbrella liability insurance)

DeFi & Crypto Insurance

Covers the insured against theft or loss of crypto assets and protects against cyber attacks. (read more about DeFi & Crypto Insurance)

Surety Bonds and Insurance

Serves as assurance that the payment for work and/or contract will be completed. (read more about surety bonds).

Additionally, in Texas you can insure yourself from such things as kidnapping, or a canceled wedding. The Texas insurance market is vast and can fit any specialized need.

Discuss your particular needs with a state-licensed insurance professional, who can make a professional assessment and provide you with several solution options designed specifically for you:

Kidnap & Ransom Insurance

Kidnap and Ransom insurance helps protect from the financial consequences and unforeseen expenses associated with kidnapping, extortion, or illegal imprisonment.

Business organizations frequently obtain this type of insurance to cover key personnel. Alternatively, affluent or well-known individuals at risk of being abducted for ransom may get this insurance for themselves and their families. A kidnapping insurance coverage usually pays the ransom and compensates the insured for any expenditures incurred.

Kidnap & Ransom coverage in Texas is mostly purchased by the individuals who frequently travel in and out of Mexico, across the U.S./Mexico border.

Event or Wedding Insurance

When arranging a wedding, the last thing you want to worry about is a catastrophe on the big day. You can buy a special event insurance policy that protects you against liability if something goes wrong on your wedding day.

Event or wedding insurance is beneficial if the event is canceled or postponed for some reasons, such as;

  • The majority of guests are unable to attend due to inclement weather
  • A sickness that affects the spouse or members of their immediate family
  • The summoning of the groom or bride for military service
  • The function had to be rescheduled due to a power failure at the banquet facility.

Warranty vs. Insurance