Homeowner's Insurance

 
 
Left: Electrical Fire in 2007 caused total damage of $272,710.84.

Right: House being rebuilt. Insurance at work!
 



Secondary Structures - Provides protection for sheds, detached garages and other buildings on your homesite. Perils include: Fire, Tornado, Lightning and Vandalism among others.  Generally limited to 10% of your main house limit, but can be increased, if needed.
 
Contents - Provides protection for your clothes, appliances, furniture and other possessions at your residence. Perils include: Fire, Tornado, Burglary, Lightning and Vandalism among others.  Generally limited to 40% to 60% of your main house limit, but can be increased, if needed.
 
Off-Premise Contents - Worldwide protection of your personal property away from your residence. It is generally limited to 10% of your Contents coverage. An example would be a theft from your motel room while you are on vacation.

Loss of Use

Loss of Use / Living Expenses - Pays for additional expenses you incur if you are displaced after an insured event (example: house fire) because your residency is not habitable. It is generally limited to 10% to 20% of your dwelling coverage.

Liability

Personal Liability - Protects you from lawsuits caused by accidental property damage or injury caused by you, your family members and acts of your pets. An example would be your dog getting loose and biting a neighbor's child.
 
Guest Medical - Provides for medical payments for other people injured at your residence. It is generally limited to $1,000 but can be higher. An example would be a visiting friend slips on your entry rug and breaks an arm incurring a $500 emergency room bill.

Some Typical Coverage Limitations

Please see your policy for important details, but here's several coverage limitations that should get your attention:
 
Business Contents - If you have a home based business or bring equipment home from work, be sure to discuss this with your insurance person. Generally, business equipment is limited to $2,500 at your residence (none away from home) but can often be increased.
 
Theft of Jewelry (plus furs and watches) - Most homeowner's insurance policies have a limit on theft of jewelry, watches and furs - often only $500. If you require more protection, be sure to discuss this with your insurance person, as a higher limit may be available for a small added cost.
 
Property Deductible - Be sure to ask what your deductible is. Generally, homeowner's insurance has a 1% deductible. That's 1% of your total dwelling limit (i.e., a 1% deductible of $150,000 total limit would be $1,500). Some companies also offer other deductible choices. In the event of a property loss, your compensation for the property damaged would begin after the loss exceeds your deductible.

Home Insurance Resources

Emergency Water Damage Tips

Reduce Your Burglary Risk

Cost Confusion?

Identity Theft
Storm Track (recent wind & hail storms in the Austin Area)
Tips for First Time Homebuyers
Wildfires!

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