Whether you are purchasing your first home or looking to change insurance companies a good understanding of what your homeowner’s insurance covers is crucial.
As a resident of Sugar Land, you live in one of the safest cities in America, but that doesn’t mean you are safe from all the risks posed to your home. And what you may not know is that some common risks may not be covered by your home insurance policy.
Most standard home insurance policies provide coverage in four key areas: your home’s structure, your personal possessions up to specified limits, personal liability, and additional living expenses. Home insurance protects against disasters such as fire, lightning damage, theft, and other “named perils,” as they are called in the insurance industry.
Depending on the type of home insurance policy you have, HO-A, HO-A+, HO-3, or HO-B, what you are covered for could be quite different. Complicating matters even more, each insurance company can change or alter the policy even more. That’s why working with a knowledgeable Texan insurance agent is so important to help you understand the various differences between the policies that are available.
However, some perils, such as floods and earthquakes, are excluded from coverage. It is important to review your policy for exclusions and determine whether you need additional coverage based on your location and the likelihood of one of the excluded perils occurring.
You may understand what is covered by your homeowner’s insurance, but do you know what isn’t covered by most Texas homeowners’ insurance policies?
Your homeowner’s insurance protects you from what are known as perils—events that might cause damage or loss. A good homeowner’s policy is designed to protect homeowners from fire, theft, vandalism, and so much more. However, there are some perils that are specifically excluded from the typical homeowner’s policy, and for those living in certain areas, the exclusions could be serious. Call a Texan agent to see what exclusions are in your policy.
Homeowner’s insurance is there to get you back to normal after a loss or damage. Many people don’t realize it won’t cover home maintenance items. Any damage to your home caused by your failure to properly maintain it will not be covered by property insurance. For example, repairs to a roof from wind damage is covered, but a roof that has simply gotten old will not be.
Other issues not typically covered by homeowner’s insurance would be damage from pests such as termites or rodents. It’s important to know what your homeowner’s insurance policy covers and doesn’t cover so you can be prepared for whatever life throws at you. Call a Texan agent to learn more.
Many insurance companies do not provide coverage for mold, because it is considered to be the result of negligence. This is another grey area where some types of mold may be covered and others may not. If you have a concern about mold coverage, please contact Texan to discuss.
To help prevent and stop the spread of mold the Texas Department of Health recommends the following:
Floors, concrete or brick walls, countertops, plastic, glass, and other non-porous materials should be washed with soap and water and then with a solution of one to two cups of bleach to a gallon of water and allowed to completely dry. Also:
People allergic to mold and people with asthma or other respiratory conditions should not do mold cleanup.
Water damage is a tricky area when it comes to homeowner’s insurance. Mainly because some types are covered, while others are not. And as you may know, the most commonly excluded type of water damage is flood damage. Flood insurance protects you from damage done to your home and personal possessions by rising water from an outside source like street flooding. It is NOT part of a standard homeowner’s policy and must be purchased separately. Recent weather events across Texas and the United States have demonstrated the devastation that flooding can cause, so it’s important coverage to consider.
Water damage that is caused by homeowners’ negligence is also excluded. This means if you knew your pipes were leaking and did nothing to repair them, the resulting water damage will likely be excluded and not covered. However, if a pipe suddenly bursts with no forewarning, your Texas homeowner’s insurance should kick in and take care of the damage. It’s best to give us a call to verify what is covered by your homeowner’s policy.
Lenders will often require flood insurance for properties located in high-risk areas. Even if the property is not located in a high-risk area, the lender can still require flood insurance coverage.
It’s important to understand your mortgage contract and what is necessary prior to purchasing or refinancing your home.
If flood insurance is purchased prior to or on the date of closing or refinancing, there is no waiting period for your flood insurance policy to become effective. If not, a standard 30-day waiting period is required before the policy can go into effect.
Flood insurance is provided by the NFIP, but several companies manage and administer the program. We recommend that homeowners purchase their home and flood policies from the same company if possible. That way, if there is a claim involving both policies, you have a higher chance of only dealing with one claims adjuster. Texan offers flood insurance, call to learn more.
Insurance in Sugar Land is Different from Other Parts of Houston
We are a trusted home insurance broker in Sugar Land. What does that mean for you? Not only do we know homeowner’s insurance, but we also know Sugar Land and the surrounding areas! Our agency focuses on three principles: insurance expertise, personalized attention, and commitment to our customers. As an insurance broker, we offer a wide variety of products and services, and because we are affiliated with over 40 of the best insurance companies in Texas, we have the unique ability to provide you and your family a solution that meets your specific needs. Call Texan today!