The Top 2 Texas Homeowners Insurance Policy’s
(From Raw Sewage, Slow Leaking Pipes, Pipes Bursting- What CAN be covered? )
Ever wonder what’s REALLY in your home insurance policy here in Texas?
Well, it’s time you found out.
And you don’t have to spend days reading your policy.
Just a few minutes and we’ll give you some tools to help.
First, let’s look at the costs of NOT knowing what’s in your policy.
Here’s a few real world claims from right here in Texas, that COULD have been covered.
Before We Jump In, Just One CRUCIAL point for you to understand.
Not knowing what you have (or what you could have), leaves you at the mercy of the insurance company at claims time.
And not knowing costs these Texas homeowners (and thousands more like them), millions in claims that could have been covered.
See what I mean?
These claims COULD have been covered.
(Don’t make the same mistake they did. It all starts with you knowing the top 2 policies)
This North Texas Grandmother’s Claim Could Have Been Covered (but she, like most Texans didn’t know what I reveal below)
–> Sewage Fills North Texas Grandmother’s Home <–
Same With This North Texas Homeowner
–> Local Woman’s Home Flooded With Raw Sewage <–
This Austin Family Was Out Of Pocket $60,000
–> Backup Sends 8,000 Gallons of Sewage Gushing Into Home <–
This North Texas Homeowner Found Out The Hard Way
–> Leaking Pipe Damages 90% Of Flooring in North Texas Home <–
The Problem Has Always Been…
The problem with buying and comparing Texas homeowner’s insurance policies has always been the lack of transparency, confusing language, and fluff coverage talk that never gets to the REAL stuff.
Take a pause and think about this question.
How do you REALLY KNOW what you’ve purchased?
Unless you’re licensed, you’ve never been trained on policy differences, so the answer is… you don’t.
Let’s change that now.
Before We Go Any Farther (just one ground rule)…
Before we go any farther (and just until we finish), you must turn off the side of your brain that immediately goes to price.
That’s right, (just for now) tell yourself, PRICE IS NOT IMPORTANT.
We can bring price back to the table later…
For Now, We’re Just Talking Coverage… Here’s Why
Because for you to make a decision based on REAL knowledge, you have to understand:
1. There ARE REAL DIFFERENCES in Texas Homeowners Insurance Policy’s.
2. You can work to improve and have an EXCELLENT policy
3. Thinking about price during any of this will cloud your ability to see the differences
Which is why I say, just for now, this is not about price, it’s about coverage.
What Makes These the Top 2 Texas Homeowners Insurance Policy’s?
These are the top 2 Texas homeowners insurance policy’s because they have the broadest (and most favorable) language for you, the consumer.
But, here’s what that REALLY means.
The Top 2 Texas Homeowners Insurance Policies have the best water damage either already built in, or available to add on by “endorsement”.
(Pro Tip: an endorsement is add-on language- most of the time helpful to you, but NOT ALWAYS)
In Texas, insurance companies have 5 TYPES of water damage coverage.
You can’t just have “water damage coverage” and expect that all damage caused by water will be covered.
For more on water damage
be sure to check out 3 Nasty Surprises below:
“You have no legs to stand on if your policy doesn’t have the right language. If you have favorable language, and they try to deny coverage, you have a fighting chance”
And, Why Is Water Damage So Important?
Because, outside of wind & hail claims, the most common claims that are likely to occur are going to be from water damage.
Water damage can be very expensive to clean up.
I can’t stress this enough.
You have no legs to stand on if your policy doesn’t have the right language.
If you have favorable language in the policy and they try to deny coverage, you have a fighting chance.
As you can see, it’s crucial for you to know what type of policy you have and how it addresses damage from water.
And although it’s important for you to know if wind/hail is included in your policy, it’s VERY rare for companies to exclude wind/hail unless you are reading this in one of our Coastal regions.
Now, before we reveal the Top 2 Texas Homeowners Insurance Policy’s, one last important note.
One Last Note Before The Reveal
These Top 2 are chosen because they are common policy types, they are filed with the State, and are available through multiple insurance companies.
There are a small handful of unique policy’s, written by only one company, that could possibly compete with these 2.
These are the top 2 policy’s that are widely available to many Texas consumers.
And, per OPIC, these are the two with the most favorable water coverage.
Be sure to check out their cool policy comparison tool here:
–> OPIC | Texas Policy Comparison Tool <–
Or
(Our Version)
Texas Homeowners Insurance Comparison Tool
The Top 2 Revealed
The Top 2 Texas homeowners insurance policies (that most consumers can have access to), are called HO-C, and HO-5.
The HO-C is a policy that is specific to Texas. And although not as widely used as an HO-5, it is still available through a handful of companies.
This policy, in its base form (no endorsements), is VERY broad. If you have an HO-C now, you have an EXCELLENT policy.
The HO-C’s little brother (although not that much littler), is the HO-B. An HO-B is an excellent policy too, make no mistake.
But even with the HO-C, you must still look to be sure the HO-C has things like ordinance or law, or loss assessment coverage, but as a base policy, the HO-C is a top of the line policy.
The HO-5 is excellent too, and more flexible.
In its base form (no endorsements), it may not be as broad as the HO-C. But often, can be built up to be as good or even better than an HO-C.
For example, you may have to add sewer back-up coverage (city sewer line backs up in your house- like above).
And then you may have multiple limits options for that or other water damage coverage’s (maybe 50k-250k).
NOW… Let’s Talk Price
Okay, at this point, hopefully your mind is starting to question what you have and what to look for.
That’s a GREAT thing.
You’re on your way to making a better decision. But what about price?
You may be thinking these polices are the most expensive in the marketplace.
For many people, that is DEFINITELY NOT THE CASE.
Here’s more on how your rates are determined.
11 Factors That Affect Texas Insurance Rates
There are many times where these policies can be less expensive than what you’re currently paying.
That’s Right…MORE COVERAGE, LESS MONEY (no kidding).
So, What Can You do Now That You Have Better Information?
The best thing you can do today, is to know WHAT to look for on your own policy & compare to the market.
Here’s 3 actionable steps to do that
-
- Get a copy of your “declarations pages,” they are usually the first few pages of your policy and are often available online.
- Samples below
- Compare that to what’s available in the market, using our tool above or the OPIC tool above
- If you need help understanding this, email me directly below.
- Get a copy of your “declarations pages,” they are usually the first few pages of your policy and are often available online.
“The best thing you can do today, is to know WHAT to look for on your own policy & compare to the market.”
Sample Home Declarations Pages Below:
(Pay close attention to the Forms and Endorsements and Additional Coverage sections- Starting on Pg 2.)
Once You Have Those
Next, look up your policy on OPIC’s site using the policy comparison tool above.
If the coverage’s aren’t to your liking, or if you need help weeding through it, let me know.
Shoot me an email below, or get started with a quote.
Look forward to hearing from you!
Grab Your Policy Declarations Pages & Get Started Now
