Homeowner’s Insurance Commonly Asked Questions:
Insurance for a newly purchased home
If you are in the process of buying a home you will need homeowners insurance to secure your loan. Your loan will likely require the coverage on the structure to be “replacement cost” and the deductible not to exceed 1% of the structure’s replacement cost.
** Remember insurance companies insure the structure. The land or the loan amount are not insurable under a Texas homeowners policy. Often times, the structures value will not match loan amount. This happens when buying a home on a very expensive lot with a not too expensive structure. We will explain to your mortgage company and save you money.
New Home Construction
When the home is still under construction, you will need builders risk. Your builder likely acquired this coverage before he started building. We can secure a homeowners insurance policy effective the day the construction is officially over which is at the time the home is refinanced from a construction loan to a conventional mortgage. We can work with you!
Insurance on a home I am refinancing
Refinancing is a time many homeowners realize they were not getting such a good deal on their home insurance. We will a quote your home with multiple companies and send proof of insurance directly to your mortgage professional. Hassle free to you!
Pets and dogs acceptability
Our home insurance programs will allow most pets like dogs, cats, and other domestic animals. We have a program that allows some farm animals like horses (contact us for eligibility). Unfortunately, we will not be able place you in our preferred program is you own a dog such as Rottweiler, Doberman, Pit-bull, and other breeds. German Shepherds are OK!
Insuring my older home
As homes get older, claims like water damage, roof leaks and appliance water damage become more common. Coverage for older homes may be limited under our preferred program, but we may be able to offer coverage with some limitation which we will explain thoroughly to you. Our programs start considering home “older” when they were built in the 1970’s or older. Coverage offer is on a case by case basis subject to underwriting.
What level of coverage am I getting
All of our preferred program’s policies are written under an HOB (state regulated) or HO3 (following ISO standards). You are getting a good products with us.
Companies we represent
Our preferred home insurance programs are offered through Progressive / ASI, Safeco, Travelers, and The Hartford.