The Insurance for Texans Blog

The Three Biggest Problems You Can Create With Home Insurance

Written by Ron Wadley | May 30, 2019 8:33:15 PM

The agents at Insurance For Texans field a lot of phone calls from homeowners in the Dallas-Ft Worth area. Most of them are looking for some form of price relief as home insurance rates have continued to escalate. We are always looking for ways to save you money on your Ft Worth home insurance. However, by focusing solely on price you can create three massive problems with your home insurance which renders any savings completely worthless because you can actually lose your home. The video explains why.

Three Massive Problems

  1. When focusing solely on price, one way that you can shave costs is by lowering your dwelling amount. The problem with this is if you have a claim and the dwelling amount is too low, you can end up not being able to rebuild your home. The whole point of home insurance in it's most basic form is to guarantee that your home can be replaced or rebuilt in the event of a loss. Saving a few dollars a month to with the potential to lose it all isn't exactly what we call smart!
  2. Your wind and hail deductible is typically a lever that insurance agents will use to attempt to sell you on a policy. They will raise them to save money. There are also some companies that will force you to have a wind and hail deductible of 2% or even 3% of your dwelling amount due to their policy criteria. When it comes time to claim, you're stuck with the vast majority of the bill to replace that roof. What is the point of paying your premium if that's the case?
  3. The second most frequent claim in Texas after wind and hail is for water related problems inside a home. A busted pipe or hose to a water heater can flood a home in minutes and the claim can tens of thousands of dollars. If your policy has limited water coverage just to save a few dollars, guess who is left footing that bill. That would be you. And the mold cleanup after it sits for a bit can be enough to cause some serious medical issues. Don't fall for this trap.

 

If you want to make sure that your home insurance policy doesn't have these three problems, schedule a review today with one of our agents. Our goal as independent insurance agents is to make sure that you have the correct coverage at the best price possible. We use the entire home insurance marketplace to make sure that you have the right coverage at the best price possible.