Tag: Lakewood home insurance

Do You Have Enough Home Insurance?

I received an email Monday from Kathy O’Brien, a realtor with Dave Perry-Miller’s Intown office. She asked a very interesting question concerning the post I wrote two weeks ago on the impact rising home prices have on home insurance (see https://wiseinsurancegroup.com/impact-rising-home-prices-home-insurance/). The post I wrote approached the topic from a home buyer, however, Kathy’s question was directed from the point of view of a north Texas homeowner. Her question was, “With home values increasing significantly over the past few years, what, if anything, can home owners/consumers do to ensure their property is sufficiently covered?”

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Metal Roofs and Home Insurance Surprises

I’m a little partial to homes with metal roofs. They are resilient, look pretty, and there’s nothing like falling asleep to the sound of rain falling on one. Most home insurance companies tend like them too as they last long and are fire and hail resistant. There are some home insurance policies though, that may contain a surprise most homeowners aren’t aware of.

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The Impact Rising Home Prices Have on Home Insurance

Home prices in the Dallas / Fort Worth metroplex have steadily risen since 2010. In December, they were up another 8.5% according to a recent Dallas Morning News article. Over the past 4 years, home prices in north Texas have surged more than 40%, and this impacts home buyers in several ways beyond just paying more for a home. The impact is felt with mortgages and even home insurance.

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Underwriting Issues and Home Insurance

Over the last two weeks, I’ve written about two different underwriting issues that can pop up; trust ownership of a home and buying a home that was foreclosed on (see https://wiseinsurancegroup.com/trust-ownership-home-insurance/ and https://wiseinsurancegroup.com/foreclosures-home-insurance/). I thought I’d add one more post which examines three more issues that may give underwriters heartburn – lead paint, asbestos, and open foundations.

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Foreclosures and Home Insurance

Buying a foreclosed home is not without risk. You could end up getting an amazing deal on a fabulous home or you could end up buying a money pit. One of the other risks associated with buying a foreclosed home is home insurance. Most people don’t realize, but not every home insurance company will write a policy on a home that’s been foreclosed on. Let’s look at why some companies won’t, some might, and for those where it’s not an issue.

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Trust Ownership and Home Insurance

Every insurance company has a set of underwriting questions I answer when writing or quoting a home insurance policy. Some of these will preclude a company from writing a home insurance policy such as the presence of certain dog breeds, foundation or roof types, etc. Others use the answers to these questions to confirm how the policy should be structured.

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The Super Bowl and Home Insurance

Dallas Cowboys and Houston Texans fans are licking their wounds today as both teams were knocked out of contention in the past weekend’s games. It will be interesting to see whether who will play in the Super Bowl. Will it be the Green Bay Packers, New England Patriots, Atlanta Falcons or Pittsburgh Steelers? But just what is the connection between the Super Bowl and home insurance?

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Home Insurance Issues When a Family Member Dies

A friend of mine called me last week with one of the most unusual questions I’ve ever been asked as an insurance advisor. It turns out her father passed away before Christmas and she wanted to know how she and her siblings should handle the home and car insurance on their dad’s home and vehicles. The answer depends on many factors.

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Texas Insurance Year in Review

Christmas dinner has been put away and the used wrapping paper bagged and carried out. Many websites are now posting how and where to celebrate New Year’s Eve, and showing various retrospectives on the year in review. I think this is a great time to look back over the last 12 months, and peek into what’s coming for Texans and their home, car, health, and life insurance.

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Barndominium Insurance

A client sent me an email asking me to quote a builder’s risk policy for a barndominium she and her husband are planning to build. I haven’t watched HGTV’s Fixer Upper series, so I called her to find out what a barndominium is, as well as to ask her the questions I needed answered to quote a builder’s risk policy for them. After finding several builder’s risk policy options for them, I began researching what companies will write a barndominium insurance policy once the construction is complete.

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