No homeowner likes to think about the types of tragedies that could happen to their house and personal belongings. The reality of owning a home is that it’s essential to prepare for such an event. This is why homeowners need to have homeowners insurance. It is designed to replace repair damage, replace personal property and more. It is a way to expect an unexpected tragedy and be ready for it.
The majority of policies for Homeowners Insurance Houston offer certain types of coverage. They will pay if a house is damaged or destroyed. It will cover the medical bills should anyone be injured while on a homeowner’s property. A policy could pay for an injury away from the house such as when a homeowner’s dog bites someone. It will pay to repair or replace personal property that is destroyed, damaged or stolen. An insurance policy may pay to defend a homeowner who is sued and judged to be legally responsible for another person’s property damage or injury. It will also cover the costs associated with repairing or rebuilding structures not attached to the homeowner’s house. This could be such structures as fences, storage sheds, detached garages and more. Should a homeowner’s house be damaged and unable to be used, an insurance policy could pay for living expenses such as food, housing and other expenses for a period of time until a home is repaired.
Texas Homeowner’s Insurance Policies
There are two types of homeowner’s insurance policies sold in Texas. There is an all-risk policy that is also known as comprehensive coverage. These types of policies provide a homeowner with a high level of protection. It will cover any and all causes of loss unless the insurance policy is written with specific types of exclusions. The other is a named perils policy or a specified perils coverage. These insurance policies are designed to cover only the causes of loss identified in the policy.
Hail And Windstorm Coverage
Most of the policies offered to Homeowners Insurance Houston don’t cover damage from hail and windstorms. People who own a home on Galveston Bay and the other coastal counties in Texas can get this type of coverage from Windstorm Insurance Association (TWIA). It can be purchased from local insurance agents. Should a person want to renovate, add or build a home or other type of structure in these areas, they must get a certificate of compliance during its construction to get TWIA coverage.
Filing A Claim
Insurance companies operating in Texas have certain deadlines when it comes to responding to insurance claims. They must acknowledge a homeowner’s claim within 15 days after it is received. The insurance company then has 15 business days to accept or reject the claim. Should the insurance company agree to pay the claim, they must send the homeowner a check or bank draft within five days. Should an insurance company suspect arson is involved in a homeowner’s fire, they have 30 days to respond to submitted paperwork. If an insurance company takes too long to pay a claim, they are responsible for the homeowner’s reasonable attorney fees as well as damages of up to 18 percent of the claim if the homeowner wins a case against them in court.
An adjuster from the insurance company will provide the homeowner with a final estimate on the cost to repair a home and replace any personal items that may have been lost. Homeowners and insurance companies don’t always agree on estimates. A homeowner can request and adjustment. If this is rejected, they can hire a public insurance adjuster. In some cases, disputes are ultimately settled in a court of law.