When it comes to homeowner’s policy, everyone has a story about what is covered and what isn’t. While much of what is said may be true, misinformation can get passed around in various ways. So if you have questions about what your homeowner’s policy covers, ask your agent. They can clear up any misinformation and get you back on track with the right coverage.

Do Older Homes Have Cheaper Policies?

Older homes often cost you more than a new home. Part of the reason for this is the quality of the materials and workmanship. Older materials may not have been built according to industry standards. Standards have changed over the years, making older homes seem more dicey than a new home built to today’s strict guidelines and codes.

Are All Natural Disasters Covered?

In many cases, most natural disasters are covered. There are a few exceptions, however. One exception is flooding simply because flood plains designate flood-prone areas. If you live in a flood plain, the best way to protect your home is with flood insurance.

Are My Valuables Covered?

Your personal possessions will be covered by your homeowner’s policy for face value. If you have antiques or other types of valuables, you will need to purchase another policy to make sure each item has sufficient insurance coverage.

Is Basic Coverage Sufficient?

Basic coverage is fine if you want to cover only your home. However, when it comes to liability, a claim can be devastating. This is especially true since many “basic” policies have a price cap on how much they will pay for specific things.

Why Do I Need Liability Coverage?

If a person trips and falls on your property, you are liable for their medical bills, as well as any time they may have missed work. With liability coverage, your insurance company takes the hit and allows you to keep your homeowner’s policy in place.

Do I Have to Report Long Vacations to My Insurance Company?

It’s important to report any long-term vacations to your insurance company. You may want to have a friend or neighbor look in on your property every few days. This gives the impression that someone is close by and may actually deter burglars away from the property.

Will Proper Maintenance Keep My Premiums Low?

Proper maintenance is the best way to keep your home in good shape. If you don’t maintain your property, things will start to break down, and your home will lose its value. Keep it up and keep it nice, and your home’s value will continue to rise!
If you wish to learn more about the many homeowners’ insurance policies, contact us at The Schwab Agency in Colleyville, Texas. Our team can dispel the myths and find a policy that will provide the coverage you want and need to protect your home.

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