home insurance Archives - Page 7 of 26

Home Insurance and Earthquake Coverage

I was in my first earthquake over the Labor Day weekend. For the past few years, Sheri’s family has rented a cabin in Davis, Oklahoma for Labor Day weekend. It’s a great time to get away, be together, cook for each other, and watch too much football. I slept through the 5.8 magnitude earthquake which was felt in north Texas all the way north to Illinois. It didn’t cause too much damage to our Oklahoma neighbors, but it provides a great backdrop to revisit home insurance and earthquake coverage.

Home Insurance and Lack of Preparedness or Coverage

Insurance Journal published an interesting article based on the results of a survey undertaken by Trusted Choice and the Big I earlier this month. The results were very interesting and point out that most Americans are ill prepared financially for a major disaster, think their home policy will cover them in the event of a disaster, and may not have enough home insurance coverage to replace their home should they encounter such a disaster. With us being at the height of hurricane and wildfire seasons, let’s examine the survey’s findings.

Home Insurance Claim or Maintenance?

A client called me two weeks ago. Their air conditioner died and they wanted to know whether or not it was covered by their home insurance policy. Given the cost of replacing an air conditioning system, I would ask the question too. The answer though, is it just depends on how they answer my next question.

The Three Home Insurance Form Types

Insurance companies write home policies based on industry standard forms or policy types as outlined by the Insurance Standards Office. These standard forms are used to define how policies will be written and what coverage is included. There are 6 home insurance policy types including home, renters, and condo policies. This post, however, will focus on the 3 most common ones written in Texas

Home Insurance and the Two Broad Policy Types

I’ve had a number of conversations with people about home insurance over the last few of weeks. Based on those conversations and the questions I’ve addressed, I wanted to write a series on the different types of home insurance policies to provide a foundation for home buyers and owners to reference.

Home Insurance and Short Term Rentals

In order to answer my question whether home insurance would cover a home on Airbnb or VRBO, I talked with underwriters from each of the companies I represent. Each underwriter gave me the same answer, that their home insurance policy would not cover a loss if the homeowner is providing temporary lodging via any of these services. The reason is there is too much risk exposure for the home insurance company for any type of loss.

Would You Choose This Home Insurance Discount?

Home insurance companies provide a number of discounts. There are discounts for married couples, retired couples, homeowners with monitored alarms, new roofs, newer homes, updates to plumbing, electrical, and cooling systems, and for placing your car insurance with the same company too. In most cases, these discounts are given for something you do or have, not for giving something up. The home insurance discount Dave wrote about though was for something a policyholder gives up.

Insurance Review for Hurricane Season

Tropical Storm Colin serves as a great reminder for Texas homeowners to take a few minutes to perform an insurance review that’s focused on hurricanes and the type of claims that occur. To help with that, let’s delineate who and what needs to be reviewed by tiers and the type of coverage.

Hurricane Preparation for 2016

The 2016 hurricane season starts tomorrow. It runs from June 1 through the end of November. Some forecasters are predicting the 2016 season could be the biggest since 2012 with 10 to 16 tropical storms and 4 to 8 hurricanes with 1 to 4 reaching major storm status.

Who Does the Repairs for your Insurance Claim?

You open the front door to your home only to step into water. There’s a leak. Who repairs the damage caused by the leak? Or you’re in an accident and need a body shop to repair your car. Who do you take your car to for the repair work? I get these questions from clients before or after the insurance claim is filed whether it’s a home or car claim.

Tag: home insurance

Home Insurance and Earthquake Coverage

Home Insurance and Lack of Preparedness or Coverage

Home Insurance Claim or Maintenance?

The Three Home Insurance Form Types

Home Insurance and the Two Broad Policy Types

Home Insurance and Short Term Rentals

Would You Choose This Home Insurance Discount?

Insurance Review for Hurricane Season

Hurricane Preparation for 2016

Who Does the Repairs for your Insurance Claim?

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