Your personal possessions should be covered at replacement cost through your homeowners policy NOT ACV.
Homeowners insurance comes in many forms in texas. let us help you choose.
Texas home owners insurance policies: a brief overview
There are two major types of home owners policy forms used today in Texas for most homes. HO-A and HO-B. If your home has a replacement cost approaching $500,00 or more, other options that may be more appropriate are available. Call or write Pieter for more information. He will be happy to assist regarding high value home insurance, as well as the residence's contents.
The HO-A form
HO-A are named peril policies that insure the policyholder only against losses expressly named in the policy. Most homes that are insured under a basic HO-A form are older, have not been updated and therefor do not qualify for the HO-A+, discussed next, or the client strictly seeks catastrophic coverage for basic named perils.
The HO-A+ policy
HO-A+ policies still use the HO-A form. They are extended versions of the HO-A, in varying degrees dependent on the company. What usually are optional endorsements on an HO-A policy have been bundled into a package. In addtion, other benefits may apply that may not be available on a standard HO-A form at all. Additional named perils may be added for which coverage is provided. Again these may vary from company to company. All HO-A+'s are not the same. Some are given a name, instead of being referred to by the form. Comparing HO-A+ policies can be difficult. Different HO-A+ policies meet different client's needs better based upon the situation.
The HO-B form
HO-B or broad form (all-risk) policies cover the insured against all losses excluding those perils and circumstances listed in the policy. There are many companies that do not even offer this type of policy. Those that do have qualifications that have to be met before the home can be insured on an HO-B policy. Most significant of these qualifications is usually age and condition. Because the coverage is so extensive, homes are expected to be in excellent condition, and dependent on the insuring company, there are different age restrictions on the residence. An inspection of the property may be required to provide coverage.
Consult an independent agent as to which policy meets your needs. Call or write us today for a complimentary consultation.
Click here to visit our policy comparisons page of most major policies offered in Texas. This data is courtesy of OPIC and is for comparison only.
So why are there more HO-A and A+ policies in force?
Many homes are ineligible for an HO-B due to age, lack of upkeep, and now location. With the substantial restrictions in writing new business in and near coastal counties, it can be a challenge finding insurance not underwritten by the Texas Windstorm Insurance Agency for many people for their wind/hail deductible. Despite the quiet season we have had this year. We will help you through the process of finding the right home owners insurance product for your situation at the right price.
Give us a call today at 1.888.796.7881 or email us. Whether you are closing on a new home or considering replacing your current policy, we are here to help.
On this note of little tropical activity, I encourage every asset owner to take the time and look over their wills and testaments and make any adjustments necessary with their attorney's, if they find an attorney necessary. Mark Schapiro's site, the link is to the right, is more than comprehensive about many issues from wills, trusts, divorce, incorporating, and more at the fraction of the cost. It is worth a look if you are here as part of that "getting everything back in order" process. For most of the population it should be most suitable and at the very least be a great resource.
Call us today for a quote and no obligation evaluation of your insurance needs. 1-888-796-7881.
Three reasons as a homeowner you should monitor your credit with a service at least monthly:
Your name and address is already on public record, as well as an idea of your financial status, based upon the home you live in. In some states, it is possible to find out what autos you own as well and the picture becomes clearer whether you are to be more a target or not.
You are just a birthdate and/or a social security number away from having your identity compromised. It is essential to protect this data by monitoring who is looking at your data, and for what reasons. Report suspicious activities immediately.
The relative cost of a monitoring service such as equifax and identity theft insurance (we can actually offer it in some homeowners policies for as little as $25 per year), is so nominal compared to the nightmare of having one's character detroyed and funds wiped up, it is inexpensive not to.
We recommend Equifax for its service as it is user friendly and provides all three up to date credit reports in one easy to read format along with an option for credit scores. Very Reasonably priced.
If you are interested in pursuing a rate request with homeowners with us, we would be happy to include Identity theft coverage for as little as $25 a year with $250 deductible. Great Coverage from a great company. Otherwise, Life-Lock is an excellent, if more expensive proposition. Let's quote your property and you can see what works out better for your individual circumstance.
Finally, utilize Robert Schapiro's legal site to help you minimize your risk through education and be prepared for this most unfortunate of eventualities. We have a page on credit monitoring that may interest you.
If you have already been the victim of identity theft, visit our credit repair page where qualified companies can help put back on the road to recovering your credit status.
You are alerted any time there is activity on your accounts. In this day and age of Identity Theft, a sound investment. Ask us if Identity Theft Protection is available on the home owners policy we quote you. Some companies offer it.
