Home Insurance FAQs
1. What does home insurance cover?
Farmers Insurance- Homeowners insurance covers your home from the top of the roof to the pipes right down into the slab. Insurance also covers the contents of your house. If you theoretically take your house and turn it upside down, anything that falls out is also included in your coverage.
2. Can you provide some tips for estimating the value of my home?
One simple way to determine the value of your home is to take the square footage times the value per square foot.
For example:
$100.00 to $150.00. (1,800 sq. ft. x $150 = $ 270,000.00)
You can also look online at the value of houses in your neighborhood, call a realtor, or look at the tax or appraisal value from the county. …show more content…
What is the difference between homeowners Insurance and property insurance?
These are the same types of insurance. Casualty Insurance will cover other liabilities like auto, boat, and motorcycle.
5. If I make a home insurance claim, and it is denied, can I expect my premium to rise as a direct consequence?
In the past that was true. However, the state of Texas has recently passed laws dictating that insurance premiums cannot go up if no money is paid out, even if a claim has been filed.
6. Does having a home security system lower the cost of my homeowners insurance?
Yes, you are protecting your home from theft with an active security system. This can often lower the cost of your homeowners insurance.
7. Does home insurance cover wildfires?
Homeowners insurance provides coverage for property damage caused by a wildfire. It also covers damage caused by water and slurry used by firefighters who are attempting to extinguish a fire in your home.
8. What is Texas HOA Law? (Explain 5/10/15 advantages & disadvantages)
This is a very complex and complicated question. It involves the benefits and risks of buying a property to live in and renting out the additional space in that …show more content…
What is a “home insurance deductible”?
The home insurance deductible is usually 1% of the value of your home.
15. Does home insurance cover accidental damage?
Yes! Accidents are covered under both property damage and liability limits.
16. Do I have an adequate amount of dwelling coverage on my policy?
To answer this question, you should estimate the reconstruction cost of your dwelling. First you will need to determine the value of the land on which the dwelling is constructed. Subtract that amount from the estimated sale price of the property. It is important to never over or under insure your dwelling.
17. May I can the amount of coverage on my personal belongings?
Yes! Based on a review of the value of the personal belongings you have, it may make sense to either reduce or increase the amount of personal property coverage you have on your policy. Also, it may make sense to add either endorsements or floaters to increase the coverage on personal items like jewelry for example.
18. Are any items in my home not covered by my policy?
Typically, there are limits on coverage for some items (money, jewelry, guns, collections, etc.) but to be sure, you should speak to your agent or refer to the specific coverage limitations on your
1. What does home insurance cover?
Farmers Insurance- Homeowners insurance covers your home from the top of the roof to the pipes right down into the slab. Insurance also covers the contents of your house. If you theoretically take your house and turn it upside down, anything that falls out is also included in your coverage.
2. Can you provide some tips for estimating the value of my home?
One simple way to determine the value of your home is to take the square footage times the value per square foot.
For example:
$100.00 to $150.00. (1,800 sq. ft. x $150 = $ 270,000.00)
You can also look online at the value of houses in your neighborhood, call a realtor, or look at the tax or appraisal value from the county. …show more content…
What is the difference between homeowners Insurance and property insurance?
These are the same types of insurance. Casualty Insurance will cover other liabilities like auto, boat, and motorcycle.
5. If I make a home insurance claim, and it is denied, can I expect my premium to rise as a direct consequence?
In the past that was true. However, the state of Texas has recently passed laws dictating that insurance premiums cannot go up if no money is paid out, even if a claim has been filed.
6. Does having a home security system lower the cost of my homeowners insurance?
Yes, you are protecting your home from theft with an active security system. This can often lower the cost of your homeowners insurance.
7. Does home insurance cover wildfires?
Homeowners insurance provides coverage for property damage caused by a wildfire. It also covers damage caused by water and slurry used by firefighters who are attempting to extinguish a fire in your home.
8. What is Texas HOA Law? (Explain 5/10/15 advantages & disadvantages)
This is a very complex and complicated question. It involves the benefits and risks of buying a property to live in and renting out the additional space in that …show more content…
What is a “home insurance deductible”?
The home insurance deductible is usually 1% of the value of your home.
15. Does home insurance cover accidental damage?
Yes! Accidents are covered under both property damage and liability limits.
16. Do I have an adequate amount of dwelling coverage on my policy?
To answer this question, you should estimate the reconstruction cost of your dwelling. First you will need to determine the value of the land on which the dwelling is constructed. Subtract that amount from the estimated sale price of the property. It is important to never over or under insure your dwelling.
17. May I can the amount of coverage on my personal belongings?
Yes! Based on a review of the value of the personal belongings you have, it may make sense to either reduce or increase the amount of personal property coverage you have on your policy. Also, it may make sense to add either endorsements or floaters to increase the coverage on personal items like jewelry for example.
18. Are any items in my home not covered by my policy?
Typically, there are limits on coverage for some items (money, jewelry, guns, collections, etc.) but to be sure, you should speak to your agent or refer to the specific coverage limitations on your