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Making Changes to Texas Homeowners Insurance

You can make changes to your homeowners insurance coverage in Texas by simply notifying your insurer of the modifications you need to make. You can also contact your Texas-licensed property insurance agent and have them handle the process of making changes for you, especially if you purchased your coverage through them. It is part of the services rendered by licensed insurance agents. Typically, your homeowners policy coverage should be revised yearly, or each time you make a change to your home or covered property. Your agent can review your policy, recommend the necessary changes, and with your consent, prepare and file the changes with your homeowners insurance provider.

Can I Make Changes to the Coverage of Homeowners Insurance Policy?

Yes, you can make changes to the coverage of your Texas homeowners insurance policy at any time. However, it is best to make the desired changes to your policy when you receive a renewal letter from your insurer before your term expires. This way, you are not likely to pay any penalties. In a situation where you need to make changes to your Texas homeowners insurance policy before the renewal period because you renovated your home or added something valuable to your possession, you may contact your insurer. Your intended changes may be approved or denied by the insurer.

Contact a Texas-licensed P&C agent to help review your policy, recommend the necessary changes needed to meet your current insurance needs, and determine the most suitable time to make such changes to your policy.

What Can Be Changed in Homeowners Insurance?

In Texas, you can change the following in your homeowners insurance policy:

  • Your payment structure: Premium payments are made annually or monthly. If you are currently on a monthly plan, you can change the frequency of your payments from monthly to annually. You can also request to change to a higher or lower deductible. A higher deductible lowers the overall cost of your premium, but each time you file a claim, your deductible will be subtracted from the claim amount.

  • The value of your property and personal belongings: The value of your home and personal property typically changes after an upgrade or renovation. This will either increase or reduce the cost of your insurance. You can request a re-assessment of your home’s risks during renewal to determine your home's new value after an upgrade and effect the change in value on your policy document.

The average median home price in Texas in 2022 was near $360,000, up over 500% from around $69,000 in 1990. Make sure that your insured home value is in line with what it will cost to rebuild it if your home is destroyed.

Year Median Price Increase from Previous Price
1990 $69,000
2000 $103,000 149.28%
2010 $136,000 132.04%
2020 $233,000 171.32%
2022 $360,000 154.51%
Increase in Median Price: 1990 - 2022 521.74%
Source:Texas A&M University: Texas Real Estate Research Center
  • Your coverage options: You can increase or reduce the scope of coverage for your home and personal properties within your insured home with the consent of your insurer. For instance, you can increase your coverage amount due to increased risks in your area or add certain personal properties you just purchased to your policy. You can also reduce your building coverage due to an enhancement to the structure of your building as a windstorm mitigation measure.

Discuss with a Texas-licensed P&C insurance agent or your insurer to get more information about the changes you can make in your homeowners insurance policy.

How Can I Make Changes to an Active Homeowners Insurance Policy?

To make changes to your active homeowners insurance policy in Texas, you should do the following:

  • Consult with a licensed agent to help you assess your homeowners policy needs.

  • Identify the changes you want to make to your policy.

  • Study your actual policy’s terms and conditions to know if the change you wish to make is permitted.

  • Inform your insurer about the changes you wish to make. For instance, if you decide to change your coverage amount or remove items on your coverage list, the company's agent will discuss the options and possibilities available to you.

  • Complete the necessary documents, if any

You should contact your Texas-licensed P&C insurance agent before you make changes to your policy. The agent will explain what making changes to an active policy entails, including changing your coverage amount, payment structure, coverage structure, and adding or removing items to your coverage list. Note that if the desired changes involve more coverage, the cost of your insurance will also increase.

Can I Change Coverage Amount after Paying in Full for Homeowners Insurance Policy?

Yes, you can make changes to the coverage of your homeowners insurance as needed, even after it was paid or in full. Paying for coverage in full means that you have coverage that is paid up through its term - usually for a year ahead.

If something must be changed in the policy, contact your insurance agent or the insurer to enact the changes. If the changes result in a lower premium, the insurer will refund the pro-rated unused overpaid difference. If the newly changed policy has higher coverage, you will be required to pay up the pro-rated new difference. Generally, it is advisable to make such a change during your annual policy renewal when your home will most likely be reevaluated by the insurer based on the current real estate value.

Contact your Texas-licensed property insurance agent for guidance on how to adjust your coverage amount based on your current home insurance needs.

Can I Add Property to Homeowners Insurance?

Yes, you can add property and other structures to your homeowners insurance policy, as long as they are part of the same overall insured property. Properties that may be added include another house or a gazebo situated within the insured property and your personal belongings like jewelry kept inside your insured home. You should inform your insurer about the need to add a new property; the company will let you know what your policy agreement allows. Adding a new property will most likely increase your coverage cost. Discuss with your Texas-licensed property insurance agent for personalized information on whether you can add an extra property to your existing policy or will you need to get a separate policy? If you add another policy under the same insurer, you will likely get a multi policy discount.

Can I Remove Property from my Homeowners Insurance?

Yes, you can remove property from your homeowners insurance policy by informing your insurer about what you want to remove. Note that removing a property from your coverage list may not necessarily reduce the premium you pay. Discuss with a Texas-licensed property insurance agent for more information about removing a property from your homeowners insurance and the impact on your coverage policy.

Nothing can be changed in your homeowners insurance policy contract without your consent. The Texas Consumer Bill of Rights - Homeowners, Dwelling, and Renters Insurance provides that before your insurer can make changes to your homeowners insurance policy, they must first inform you in writing. Therefore, if you notice any unauthorized change to your insurance policy, inform a Texas-licensed insurance agent immediately, or contact your insurance provider directly.