Home Insurance

Rules About Homeowner’s Insurance in Texas

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No laws require Texas residents to invest in homeowner’s insurance. You may still need to seek out an indemnity plan as legislation allows for a bank or mortgage company to require assurance that protects their assets during repayment terms. With the ball being in their court, some financial institutions may take full advantage by asking for more coverage than necessary. Here, then are four elements of law concerning homeowner’s insurance that applies to Austin, TX, residents and others living in the Lone Star state. 

Banks cannot force you to cover the loan’s amount.

While it would be ideal to obtain insurance that pays off the mortgage in addition to funding damages, it is not necessary to have such excess. A mortgage company can only ask that you have indemnity that pays for property damage and personal possessions when tragedy strikes. 

Lenders may not factor in the home’s fair market value when determining the home’s replacement cost.

Some financial institutions use such tactic to raise the overall coverage requirement so that you end up paying through the nose for premiums. You as the consumer have the right to research quotes before agreeing to pay them, which may include getting a second opinion. Homes in Austin, TX, are relatively economical. You should, therefore, not find yourself paying tens of thousands in premiums for insurance coverage. 

"Special flood areas" may require additional coverage

Your lender has the legal right to require flood insurance if you reside in an area that has one percent higher chance of flooding. Individuals living near the Gulf Coast and in Zones V, VE, or V1-V30 are usually mandated to solicit to the National Flood Insurance Program (NFIP). Those residing in areas prone to hurricanes may also be required to enlist in NFIP before acquiring additional insurance from the Texas Windstorm Insurance Association (TWIA). 

Insurance is available for all

Austin, TX, residents who do not qualify for traditional indemnity can take heart in the Texas FAIR measure. Under the Fair Access to Insurance Requirements Plans, individuals living in high-risk areas can still qualify for primary insurance even if they were previously denied. Such measure is good news for those Texans living in older homes that may not come up to par with standard requirements. 

Home Safety Checklist

Posted on by agentinsure

Here at Southwest Insurance Center in Austin, TX, we want to make sure that you will be ready for the worst winter can throw at you so that you will be able to head off those costly repairs by performing some small preventative tasks. 

  • Stow your lawn mower and make sure that you drain the fuel out of it first.  If you aren’t going to drain the fuel from it, use a fuel stabilizer to keep the fuel from deteriorating over the winter.
  • Turn outdoor water sources off and drain then store your hoses.  Leaving the hoses in place could lead to water staying and then freezing in them or the pipes and ultimately busting your pipes.
  • Drain your irrigation or sprinkler system and turn it off.
  • Clean your gutters and when you have them cleaned out, check them for any damage.  Replace or repair as necessary.  Also clean and flush out your down spouts.
  • Check door and window frames for drafts.  If you find any, seal the with caulk or weather stripping.  Also check for cracks between the siding and the trim and seal these as well.
  • Inspect your roof for missing, loose, or damaged shingles.  Remember that it is easier to fix a leak now than it will be when it is freezing outside.
  • If there is any drainage in your yard, direct it away from your home.
  • Whether you use a furnace r a central HVAC system, get it serviced before turning it on for the first time.
  • If you have any bushes or plants in your yard, prune them before the first frost.
  • If you happen to have a fireplace, hire a chimney sweep to clean any soot or creosote out of your chimney before you use it.  While he is there, also get him to make sure that your damper is in working order.

Should You Add More Home Insurance Coverage During the Spring Storm Season?

Posted on by agentinsure

Storms are inevitable, and most homes can take the abuse of a storm without incurring any real damage. For other homes and other storm situations and locations, the storms might be high enough and frequent enough that you should adjust coverage each spring. For those that live in the Austin, TX area, the agents with Southwest Insurance Center can help you find the right coverage for you.

In most cases, the storm season is not so terribly strong or long that you need to alter coverage. For areas where tornado, frequent wind storms, or adamant storm seasons are the norm, however, you may want more coverage in the spring storm season just to be sure that you are covered. There is something to keep in mind, however. Most basic policies do not cover hurricane or flooding so you may need supplemental policies if this is the type of storm you are dealing with.

No matter what storms you might come across, adjusting coverage to suit the weather, the seasons and the storm patterns of your geographical location might be a good idea. Another instance in which adjustment might be necessary is if your area does experience lots of snow and ice each year. Though adjusting coverage might seem like a hassle, it also can save you money if you do have a claim that needs to be made.

Storm patterns and seasons vary from state to state and location to location, so it is important that you take note of your particular area and your particular situation when it comes to adjusting coverage. For those in the Austin, TX area, the agents with Southwest Insurance Center can help you to find the perfect spring storm season coverage.  

How to Protect Yourself While House Sitting

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If you are a professional house sitter, then you know the rewards that accompany your job. You get the benefit of living in a nice home while the owners are away. An added benefit is the fact that you temporarily live for free. There aren’t too many professions that give you the ability to live in prestigious homes for free on a regular basis.

Although house sitting is nice, there are some dangers that come along with the profession. At Southwest Insurance Center, we want you to be safe while you are working hard at your job. Before your next assignment, keep the following safety tips in mind.

Always know what to do during a weather-related disaster. You should know where the first aid kits and flashlights are, just in case you need to use them.

Know where the fire extinguishers are in the home. Fires are one of the many threats to you while you are house sitting. When you take the time to learn where the extinguishers are, you reduce the chance of fires getting out of your control and threatening you and the home.

Learn how to use the intrusion system effectively. Most alarm systems include the ability to press a button and reach emergency services. If you know this, and you know how to use the system, then you could potentially save your life during an intrusion.

Know some defensive moves for your protection. There may be a time when you have to protect yourself from an intruder. If you know a few defensive moves, you could prevent an intruder from overtaking you.

At Southwest Insurance Central, our goal is to ensure you are safe, including when you are driving. You can visit our website to learn more about our auto insurance products.