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FAQ's About Homeowners Insurance


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Whether you are a first time buyer or have owned your home for years, you may have some questions about homeowners insurance. We are here to help.   We have compiled a list of the questions we receive from our clients along with the answers to these questions.


If you can't find the answers to a your question here, call us at (806) 763-7311 or 


Why do you I homeowners insurance?

It is really all about protecting yourself financially if something unexpected happens to your home or possessions. That's important because chances are your home is likely one of your largest investments.


  • If your home was destroyed by fire or damaged by a natural disaster, you'd need money to repair or replace it.
  • If a guest in your home is injured, liability protection and medical coverage help pay expenses.
  • If you are a victim of theft and vandalism, it can reimburse you for your loss or pay for repairs.
  • If you are still paying for your home, your lender will require insurance.

It is important to know that homeowners insurance is meant to cover unexpected damage, not routine maintenance. Ask your agent to talk about what is covered and be sure to read your policy so you know exactly what's included and what is not.

Are all homeowners policies the same?
No,  There are many different forms of Homeowners policies.  The differences can be quite substantial in regards to what kinds of exposures are covered.

Am I required to have Homeowners insurance?
No, however, if you have a mortgagee they usually require you to carry a Homeowners policy

How do I compare Homeowners policies? 
Homeowners policy can differ.  Our agency will be glad to help you compare your quote and here are some of the areas we will compare;
•What is the Dwelling Amount in Coverage A
•Is the valuation based on Replacement Cost or Actual Cash Value?
•What is the wind and hail deductible?
•What is the "all other peril" deductible?
•Are foundations covered?
•Is the back up of sewers and drains coverage?
•Are their companion credits for insuring your automobile with the same carrier?
•Are jewelry, watches and furs scheduled on your policy?
•What are your liability limits?
•Do you have any identity theft coverage?
•Are all available discounts applied?

How much will my Homeowners policy cost?  
Here are some of the factors used in determining a Homeowners premium;
• Insured's CLUE score
• Number of claims for the home
• Construction type of the home
• Age of the home
• Square footage 
• Type of roof
• Age of the roof
• Updates of wiring and plumbing
• Location of home (Fire Protection Class)
• Is and Automobile Policy being written with same insurance company
• Deductibles chosen by insured
• Endorsement added to policy
•Insurance company rates
• Installation of Fire and/or Burglar alarms
• Overall appearance of home

Limits chosen for Liability 

Are Floods covered under a Homeowners policy?
No, as defined by the National Flood Act of 1968 as "a general and temporary condition of partial or complete inundation of normally dry land areas from the overflow of inland or tidal waters, or the unusual and rapid accumulation or runoff of surface waters from any source."  Flood is typically excluded in the homeowners policy.  Flood coverage must be purchased on a stand alone policy.  You can purchase flood insurance regardless of living in or outside of a "flood zone."  

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