replacement cost Archives - Wise Insurance Group

Flood Insurance Limits and How to Get Around Them

There are a number of things most people don’t know about flooding of flood insurance, such as flooding is the top natural disaster in the US, and that flash floods are the top weather related killer, or that 20% of all flood claims are from low and moderate risk flood zone areas (see https://wiseinsurancegroup.com/texas-floods-and-flood-insurance/). There is one other thing most people don’t know about flood insurance, and that is there are limits on how much a policy will pay on a claim.

An Overview of Texas Condo Insurance

I wrote a condo insurance policy last week for a new client. He’d started out with an offer for a single family home in the Dallas area which fell apart after the home didn’t appraise for the amount he offered. As he thought through what he desired in his next home, he decided to look at condos in the area. It turns out, he found the perfect home, but since it was the first condo he’s ever purchased, he had a lot of questions about condo insurance.

Rising Home Prices Impact on Home Insurance

$207,000. As of April, that is now the median price for a home in north Texas. It represents an average 14% increase in home prices across the metroplex over 2013. The new median home price represents an increase of almost 60% over 2010’s valuation, at the depth of the recession. When compared to the previous high water mark set in 2007, the gain is over a third.

Home Insurance Coverage Options

What would life be without options? Most people assume that all home insurance policies provide the same coverage, or that they cover everything that could potentially happen to a home. They don’t. Due to differences in policy types and what insurance companies provide as standard coverage, there are several options I recommend to most home buyers or owners.

Home Insurance Core Property Coverage

All Texas home insurance policies are divided into sections. These sections outline the level of coverage for property coverage, liability, what coverage is included, and what options may have been selected. Over the next few weeks, we’ll take a look at each of these. This week, we’ll focus our attention on property coverage.

Impact on Home Insurance by Exterior Walls

One of the questions I’m asked by realtors, mortgage originators, and home buyers is what do I think the home insurance is going to cost

Hail, Roofs, and Texas Home Insurance Changes

The Bob Dylan song, The Times They Are A-Changing, has never been more appropriate than now when it comes to Texas home insurance. This is especially true with insurance companies and how they are grappling with home insurance rates, hail claims, and how to cover roofs.

Kitchens, Bathrooms and Home Insurance

There are many factors insurance companies consider when determining a home’s replacement cost, how much it takes to rebuild a home in the event of a total loss (see http://50.87.248.161/~wiseinsu/home-insurance-replacement-cost-actual-cash-value). Kitchens and bathrooms are two room types which have a significant impact on a home’s replacement cost.

Roofs and Home Insurance

Roofs are one of those things that keeps coming up when I talk with people about home insurance in Texas. This is because roofs impact homeowners and home buyers in so many ways: they can cause the home insurance to cost more, cost less, or impact it in how a weather related claim is paid (see http://50.87.248.161/~wiseinsu/home-insurance-roofs-impact/).

Home Insurance for a Duplex

I received a call from a mortgage loan officer in Dallas a few weeks ago. She was working with a couple who was buying a duplex but had not yet obtained insurance. The loan officer wondered if we could help the couple as the purchase was scheduled to close in a couple of days.

Tag: replacement cost

Flood Insurance Limits and How to Get Around Them

An Overview of Texas Condo Insurance

Rising Home Prices Impact on Home Insurance

Home Insurance Coverage Options

Home Insurance Core Property Coverage

Impact on Home Insurance by Exterior Walls

Hail, Roofs, and Texas Home Insurance Changes

Kitchens, Bathrooms and Home Insurance

Roofs and Home Insurance

Home Insurance for a Duplex

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