Homeowners Insurance

Affordable Homeowners Insurance

Why pay more than you need to? You may qualify for a variety of discounts on your homeowners insurance policy.

Most Homeowners Insurance Rates go up every Year, you have to switch to save money!

Homeowners Insurance consumers can save up to 70% on current insurance
Here you can easily compare many policies side by side and choose the quote that's best for you.

What Does Homeowners Insurance Protect?

Each home insurance policy is different, but standard policies usually provide:
  • Broad coverage for damage to your house and any permanent structures on your property (unless the cause of the damage is specifically excluded in your policy.)
  • Damage to your personal property due to causes specified in your policy.
  • Limited coverage which is available for items like stolen jewelry. Coverage amounts vary depending on your state of residence.
  • Additional coverage for valuable items which can be purchased through endorsements to your homeowners policy.

What is home insurance?

Homeowners insurance, or home insurance, compensates you for losses to your home and your possessions inside it, so purchasing a homeowners policy provides added security for your investment. Home insurance also protects you if you're legally liable for someone's injuries on your property, as well as from financial losses caused by storms, fire, theft and other events outlined in your policy.

Why buy condo insurance?

Home insurance isn't your only option when it comes to protecting your belongings. When you own a condominium, you — not your condo association — are responsible for what's inside your condo. That's why having a personal condo insurance policy is important.

Maintain Adequate Coverage

Buy enough coverage to avoid a major financial loss if your home is severely damaged or destroyed. This means keeping a realistic dollar amount of coverage on your house.

Replacement Cost Coverage of Your House

Most of the standardized policies provide replacement cost coverage for your house, up to your policy´s dollar limits. Replacement cost is what you would pay to rebuild or repair your home, based on current construction costs. Replacement cost is different from market value. It does not include the value of your land. If you are not sure of the amount it would cost to rebuild your home, your company or agent usually has construction cost tables to help you figure the cost.

To receive full payment (minus your deductible) for a partial loss, such as a storm damaged roof, you must insure your house for at least 80 percent of its replacement cost. If you insure your house for less than 80 percent of the full replacement cost, the insurance company will pay only part of the expense of a partial loss.

Unless you buy an endorsement increasing your coverage, most policies only provide actual cash value coverage. Actual cash value is the replacement cost of your property minus depreciation. If your home is destroyed and you only have actual cash value coverage, you may not be able to completely rebuild it.

Sometimes, despite your best efforts, things go wrong. Having the right insurance is critical. Your renter's or homeowner's policy covers many things, but still may be inadequate. For example, if a valve bursts inside your home, your homeowner's policy will probably cover the damages. If the pipe from the sewer or water system breaks outside your home you may only be covered if you have flood insurance.

A homeowners insurance policy covers both property and liability. It protects your home, personal property, and personal liability in case of damage or total loss. It is designed to pay homeowners for damages to your home and its contents. It can also protect you from financial liability if someone is injured on your property. Shop around - Insurance is a highly competitive business and the price you pay for your homeowners insurance can vary by hundreds of dollars, depending on the insurance company you buy your policy from.
Do you Have
  • A monitored alarm system?
  • Deadbolts on your doors?
  • Smoke detectors in your house?
  • A sprinkler system?
If you can answer – "yes" – to these questions, you may be eligible for a discount on your policy. Protecting your home with safety features like these is smart thinking.

Homeowners Policys Dollar Limits

If you insure your house for $250,000, that´s the most you will get if it is destroyed, even if it would cost more to replace it. The Declarations Page on the front of your policy shows how much coverage you have. Talk with your homeowners insurance agent or insurance company representative if you have any questions about your insurance limits.

Homeowners Insurance Exclusions

Typical exclusions include damage due to flooding, earthquake, normal wear and tear, war, intentional damages, or buildings used for business. Flood and earthquake coverage generally must be separately purchased. Make sure you recognize what your needs are and what is covered and what is excluded in any policy before you buy. It is also important to know what the policy limits are for the coverage provided. Will the property limits be sufficient to replace the house and the contents if they are destroyed by fire? Will the liability limits be sufficient to protect you if you are sued by someone who falls on your property and is seriously injured? These are all matters you must carefully discuss before you buy a homeowners insurance.

Pay Your Way

When you purchase your homeowners insurance coverage, you can usually incorporate its cost into your mortgage payments. In fact, most lenders require adequate homeowners coverage that is paid along with your house payment as a condition of the mortgage.

Companies may exclude coverage for certain losses. For example, if you live on the Coastal area, you might receive an endorsement that excludes coverage for wind and hail damage. In areas with a history of hurricane and storms, some companies provide only actual cash value coverage for roofs instead of full replacement cost. Actual cash value pays for damage minus depreciation on the roof, depending on its age and condition.

Most policies will not cover mold remediation beyond that necessary to repair or replace property damaged by a water loss otherwise covered by the policy. The HO-A policy offers no coverage for mold remediation or for damage caused by water leaks, although some companies may offer coverage for sudden and accidental water leaks as an endorsement to the base HO-A policy. Some of the other approved policy forms also cover sudden and accidental water leaks, while others may not. Read your policy or ask your agent whether your policy covers water leaks and mold remediation.

Insurance companies are required to offer you mold remediation coverage. Depending on the company, this coverage will be offered in dollar or percentage increments up to 100 percent of your policy´s limits. If you have questions or concerns about how a mold claim is being handled, or if you need information about how to minimize mold losses, ask your insurance company for a set of guidelines regarding mold claims or contact DI for a copy of the publication Effectively Handling Water Damage and Mold Claims. This publication contains suggested practices for both consumers and insurance companies in the event of a water or mold loss.

  • Renters: A landlord´s insurance does not cover a renter´s personal property. Renters insurance covers your belongings, provides liability protection, and pays extra living expenses if a fire or other disaster forces you to move temporarily from your rented home.

  • Condominiums : Condos : Condominium insurance matches the benefits of renters insurance, and also covers damage to improvements, additions, and alterations to the condominium unit.

  • Townhouses: Townhouses may be insured by either an individual homeowners policy or an association master policy. If a townhouse is owner-occupied and the townhouse association does not have a master policy on the building, you can purchase a homeowners policy on your individual unit. If the association has a master policy, you should get a Texas tenant homeowners policy to insure your personal property.

  • Mobile homes: Mobile homes without wheels and resting on blocks or a permanent foundation qualify for a homeowners policy. However, most mobile homes are insured by a mobilowners policy. A mobilowners policy is actually an auto policy that covers mobile homes used as residences. Mobilowners policies offer extremely limited coverage.

  • Farm and ranch owners: Farm and ranch owners policies insure homes outside city limits on land used for farming and raising livestock. You can pay extra and get coverage for certain farm equipment and outbuildings.

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