The key to understanding what you need in a Texas homeowner insurance policy depends greatly on understanding the nature and location of your home. Texas covers a vast and widely diverse range of geographic territory, and many regions in the state have perils uniquely specific to a particular locale. It is important that you work with an Agency that will take the time to educate you in the many challenges you may face in the part of the state you reside, and what your Texas homeowner policy needs to specifically cover to provide you with the best possible coverage.

Understanding a few basics about the three types of Texas homeowner insurance policies will help you save time and avoid confusion when you begin working with an Agent. Each policy type offers specific financial and coverage benefits that need to be carefully weighed in relation to what you can recently afford to invest in homeowner insurance and what you need to consider in terms of indemnity should you ever face a calamity and need to file a claim.

HO-A Policies

Texas HO-A are the most inexpensive policy type, and are often the most attractive to the first time homeowner due to the low cost investment they offer.

There is nothing wrong with investing in a homeowner insurance policy that is discounted or represents a low premium, but it is very important that you carefully consider what the policy actually covers and weigh that against perils in your part of Texas that could strike your home at some point in time.

An HO-A policy will only cover perils specifically named on the policy, and they limited in the endorsements that can be added to the HO-A policy.

HO-A+ Policies

The HO-A+ policy provides additional coverage to the Texas homeowner by making available a host of endorsements or coverage additions to the base HO-A and thereby becomes a very viable means of acquiring extensive coverage on dwelling and contents.

HO-B Policies

For a slightly larger investment in Texas homeowner insurance, you can have your agent write an HO-B policy. HO-B policies offer replacement cost coverage for most perils associated with damage to your house, and named peril contents on or off the premises where the house is located. Replacement cost coverage can be added to the contents coverage alleviating depreciation when damaged items are replaced.

An HO-B offers an extended variety of endorsements. Talk to your agent about what these endorsements entail.

HO-C Policies

Texas HO-C homeowner insurance coverage represents the broadest possible policy type intended to anticipate the most common perils in your region and offer comprehensive replacement costs per the estimated risk you face balanced against the value of your home and its contents. The HO-C policy provides extended peril coverage on dwelling and contents.

The specific details of your HO-C policy will have to be determined in partnership with your agent, who will look at all risk factors relative to where you live, the size and architecture of your house, and the value of your belongings within that house to give you the maximum coverage, the best possible rates, and any discounts for which you may be eligible.

One final note: It is always best to work with an agency that represents a number of A+ rated homeowner insurance carriers and who works statewide throughout Texas. Such agencies like TAHI tend to have more options to offer the Texas homeowner seeking the best rates and the most coverage.

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HD version – www.youtube.com A dapper man and his 35-foot umbrella come to the rescue of all they meet on a whimsical trip to the city. Travelers offers a wide variety of insurance products including auto insurance, homeowners insurance and business insurance.

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Texas Auto Home Insurance. For more information on Texas Homeowner Insurance and Texas Home Insurance Policy Types visit us online.

Article Source: ArticlesBase.com – Texas Homeowner Insurance

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Looking for homeowners insurance comparisons? Want to know where to compare quotes and get a cheap rate quickly and easily? Read on …

What is homeowners insurance?

Homeowners insurance covers more than just your home. It also covers your personal possessions and protects you from personal liability lawsuits. Here’s what it covers:

* Your home – Homeowners coverage pays to repair or rebuild your home after it’s been damaged or destroyed by storms, fire, plumbing leaks, and vandalism. Damage from flooding or earthquakes is not covered under standard policies, so if you live in an area where you need these coverages you must purchase them separately.

* Your personal property – Homeowners insurance will replace your personal property, such as clothes, furniture, appliances, and electronics, when they’re stolen or when they’re damaged by fire, vandalism, storms, and plumbing leaks. Expensive items like jewelry or computers may not be covered under standard policies, but you can increase your coverage on these items if you need to.

* Your assets – If someone hurts himself on your property and sues you, your homeowners policy will pay damages awarded to him by the court, plus your legal fees and court costs.

* Your additional living expenses – If your home is damaged or destroyed and needs to be repaired or rebuilt, you’ll be compensated for your additional living expenses (hotel bills, restaurant bills, etc.) if you need to live elsewhere.

How can I save money on my homeowners policy?

The best way to save money on your homeowners policy is to find a reliable company with cheap rates. You can do this quickly and easily by going to an insurance comparison website where you can get rate quotes from different A-rated companies. (See link below).

After you’ve found a company with cheap rate, you can lower your premium even further by raising your deductible. For example, by raising your deductible from $500 to $1,000 you’ll save up to 25% on your insurance premium. Raising it to $2,500 will save you up to 35%.

Where can I compare rates from different companies?

Visit http://www.LowerRateQuotes.com/homeowners-insurance.html or click on the following link to get homeowners insurance rate comparisons from top-rated companies and see how much you can save. You can get more tips and advice in their Articles section, and get answers to your questions from an insurance expert by using their online chat service.

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Qualify for all sorts of discounts – multi-car, e-sign, homeowners and more – with Progressive. Getting the discounts you deserve. Now that’s Progressive.

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The author, Brian Stevens, is a former insurance agent and financial consultant who has written a number of articles on homeowners insurance comparisons.

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Homeowners insurance protects your home and your personal property from loss. Here is homeowners insurance advice for any homeowner looking to save on their homeowners insurance without sacrificing necessary protection.

Buy the Right Amount of Insurance

Your homeowners insurance policy includes coverage for:

* Your home

* Your personal property

* Your assets

Your home – For your home, you need enough insurance to pay for rebuilding your home at current construction costs. To estimate this amount, multiply the square footage of your home by the building cost per square foot in your neighborhood. Do not include the cost of your land as you figure out your property coverage limit.

Your personal property – Your personal property limit is usually half of the property limit. To determine if this is enough, list everything you own and how much it would cost to replace. Also note that some types of personal property, such as jewelry, silverware, or computers, are only covered up to specified limits. Ask your insurance professional what types of personal property have specific limits so you can buy more coverage for these items if you need it.

Your assets - Personal liability coverage protects you if someone is injured while on your property. You should have enough liability insurance to protect your assets – savings accounts, CDs, stocks, bonds, etc.

Get the Discounts You Deserve

Insurance companies typically offer numerous discounts that will lower your insurance bill. Common homeowner discounts include:

* Non-smoker and senior citizen discounts.

* Discounts for safety features such as alarm systems, smoke detectors, and deadbolts.

* Discounts for placing your homeowners and auto insurance with the same company.

Ask your insurance professional about these and any other discounts you qualify for.

Raise Your Deductible

The deductible is the amount you pay out of pocket before the insurance company begins to pay. The higher your deductible, the lower your premium, so set your deductible as high as you can afford.

Shop Around

You can save a lot of money on your homeowners insurance by comparing rates on an insurance comparison website. You type in your insurance information and multiple A-rated insurance companies send you quotes.

On the best insurance comparison websites you can even talk with insurance professionals and get more advice on homeowners insurance and how to save money on your homeowners premium (see link below).

Visit http://www.LowerRateQuotes.com/homeowners-insurance.html or click on the following link to get homeowners insurance rate quotes online from top-rated companies and see how much you can save. You can also get more insurance advice there.

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ENTITLE DIRECT segment – California consumers can now purchase title insurance directly, while also taking control of their real estate closings. ENTITLE DIRECT saves consumers 35 percent on their title insurance AND creates an “open closing,” significantly benefiting California homeowners. … title insurance homeowners real estate closings refinance

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The authors, Brian Stevens and Stacey Schifferdecker, have spent 30 years in the insurance and finance industries, and have written numerous homeowners insurance advice articles.

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It’s hot. Really hot. So hot that even though it’s technically an impossibility you suspect you probably actually could cook an egg on the sidewalk. Summer’s knocking on your door, and it’s up to you to find a way to beat the heat. Your own backyard swimming pool is the best way to do it-but what’s a swimming pool going to do to your homeowners insurance?

Swimming pools and homeowners insurance have more of an on-again/off-again, uncertain, unpredictable and volatile relationship than most teenagers. How much your swimming pool will affect your homeowners insurance premiums and your ability to get coverage is going to depend strongly on where you live, what type of pool you have and, most importantly, what you’re willing to do to keep the people around you safe.

Why Does It Matter?

It’s easy enough to wonder why your swimming pool would have any impact at all on your homeowners insurance, particularly if you aren’t the parent of small children (or only slightly more sensible teenagers) and therefore aren’t likely to have people in and out of your swimming pool at all hours of the day and night. What most people don’t realize, however, is that they are responsible for any accidents that take place in and around their pool-even if the victim of the accident wasn’t invited, wasn’t wanted and was less welcome than a dead rat at Thanksgiving.

That’s right. If a complete stranger parks on the edge of your lawn, gets out, walks around to the back of your house, hops in your swimming pool and drowns, it’s your fault. It’s all a matter of liability-and since it’s your insurance provider that has to pay the bill for your liability claims they’re going to be extremely careful.

Location, Location, Location

In states like Florida or Texas, where backyard pools are almost as common as joggers by the Gulf, swimming pools aren’t going to have a significant impact on your homeowners insurance. On the other hand, if you happen to live in a northern state where it doesn’t stay warm enough in the summer to justify the expense of a pool and its upkeep you may find yourself paying out a little more each month. After all, your house just became the hottest party house in time!

How You Can Keep Your Homeowners Premiums to a Minimum

Nobody really wants to pay an absurd amount of money for their homeowners insurance, but no one wants to be without it in an emergency either! Lawsuits stemming from drowning, slips, falls and other nonsense that can take place in and around a pool are rarely inexpensive and always messy. Having to stand on your own in that situation is a nightmare. There are things you can do to protect your swimming pool and your bank account from disaster.

1)Build a fence around your pool to keep unwelcome visitors out.
2)Buy a pool cover, and keep it on when you’re not using it.
3)Post signs letting people know you have a pool, especially if it’s an inground.
4)Build your pool in the backyard rather than the front to keep it out of site of the street.

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A PSA showing Florida homeowners how to save money this spring (2008) through a program from the Florida Department of Financial Services. Here’s how it’s done: Apply for a free wind inspections at MySafeFloridaHome.com. (It takes about four minutes). The inspection, which costs you nothing, often uncovers discounts you can get from your insurance — before you even do anything to fix up your house. So far, three quarters of the inspections have found an average of about $200 in discounts. Not …

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Anthony M. Peck is the Senior Developer, Software Project Manager, and Director of Business Development for QuoteScout.com. For more information about homeowners insurance for swimming pool owners, visit them on the web at http://www.QuoteScout.com.

Article Source: ArticlesBase.com – The Sitch on Swimming Pools and Homeowners Insurance

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Maryland Homeowners Insurance – How to Get the Best Rate

Buying homeowners insurance in Maryland can be expensive … unless you know what to do and where to go to get discount rates. Here are four tips that will help you save big bucks on your homeowners insurance.

Maryland Homeowners Insurance

Homeowners insurance is a necessity if you want to insure that your house and your belongings are safe from fire, theft, vandalism, and weather damage. Homeowners insurance not only protects your home and your personal property, it also protects you from lawsuits when people hurt themselves in your home.

Money-Saving Tips

1. Insure your home, not your land. When you buy a home your mortgage company probably based your homeowners insurance on the appraised value of your home. Appraisals include the value of your land, which you don’t need to insure.

To get the amount of homeowners insurance you need, ask a local builder how much it would cost to rebuild it and use that figure.

2. Get the highest deductible you can afford. For instance, raising your deductible from $250 to $1,000 will save you up to 25% on your annual premium. Raising your deductible also prevents you from filing excessive claims which can cause your insurance company to cancel your policy.

3. Combine you home and auto insurance. Purchasing your home and your auto insurance with the same company can save you as much as 15% on your yearly premium.

4. Install Safety and Security Features. Installing fire alarms, burglar alarms, sprinkler systems, dead bolts, window locks, and fire extinguishers not only gives you a big discount on your insurance, it also gives you peace of mind.

The Biggest Money Saver

Homeowners insurance can vary by $1,000 or more from one insurance company to the next, so the best way to save the most amount of money on your insurance is to compare rates from different companies.

The simplest way to do that is to go to an insurance comparison website where you can get rate quotes from a number of insurance companies. A few of these sites even offer an online chat feature and a toll-free telephone service where you can get advice from an insurance expert. (See links below.)

Visit http://www.LowerRateQuotes.com/homeowners-insurance.html or click on the following link to get Maryland homeowners insurance quotes from top insurance companies and see how much you can save. You can get more insurance tips in their Articles section.

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Insurance may be necessary, but it doesn’t have to be expensive. Our money reporter Stacy Johnson has been giving us ways to save on insurance all month. Today he explores homeowners insurance.

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The author, Brian Stevens, is a former insurance agent and financial consultant who has written a number of articles on Maryland homeowners insurance.

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Got homeowners insurance questions? Here are the top five homeowners insurance questions complete with answers.

What does homeowners insurance cover?

Homeowners insurance protects your home and your personal possessions from damage due to fire, lightning, burglary, vandalism, and acts of nature. It also protects you against liability lawsuits if someone is hurt in your home and they sue you.

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How much insurance do I need?

You need enough homeowners insurance to cover the cost of rebuilding your home if it’s destroyed, to replace your personal possessions if they’re damaged, and to protect you from liability lawsuits.

To assess how much home coverage you need, get the square-foot building costs in your area from a builder or a realtor, then multiply that figure by your home’s square footage. For coverage for your personal possessions, take an inventory on everything you own and use the total value. And for liability insurance, figure enough coverage to protect your assets in the event you’re sued.

What about flood and earthquake insurance?

Most standard homeowners policies do not provide flood or earthquake coverage. If you live in a flood or earthquake zone you’ll need to get additional insurance.

Where can I get cheap homeowners insurance?

Insurance premiums can vary by hundreds, even thousands of dollars a year from one company to another, so the best way to get cheap homeowners insurance is to comparison shop.

There are now websites that let you compare rates between various insurance companies. All you do is fill out a simple questionnaire, wait for your insurance quotes, then choose the cheapest one.

The better comparison sites even have a chat feature that let’s you talk with an insurance professional online so you can get answers to all your insurance questions. (See link below.)

How do I find a good insurance company?

Most states maintain a department of insurance website that provides a host of consumer information, including claims that have been filed against insurance companies. If your state doesn’t list consumer information, you can go to California’s website (insurance.ca.gov) to get it.

J.D. Power & Associates rates homeowners insurance companies based on input from customers who own insurance policies with those companies. These ratings give you a good idea of how an insurance company treats its customers and how it pays its claims.

Visit http://www.LowerRateQuotes.com/homeowners-insurance.html or click on the following link to get homeowners insurance quotes from top-rated companies and see how much you can save. You can get more answers to your homeowners insurance questions in their Articles section.

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government bailout 4. Demands for transparencey a) with respect to analyzing the transactions which took the companies down b) with respect to Treasury’s dealings with the companies pre and post-bailout 5. An equity position for the taxpayers a) some form of ownership of assets 6. Some credible formula for evaluating the price of the assets that the government is buying. 7. A sunset clause on the legislation 8. Full public disclosure by members of Congress of assets held, with …

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Mobile Homeowner Insurance doesn’t have to cost and arm and a leg. A number of premium discounts exist for Texas mobile homeowners that can save them a considerable annual percentage on mobile homeowner insurance premiums. Mobile homeowners should be aware of all important areas in which they can save money on their premiums. Texas Auto Home Insurance seeks to provide not only information on mobile homeowner insurance, but also data on how clients can contribute to reducing their overall mobile home expenses.

As the mobile home ages, it suffers natural weathering and deterioration that can affect not only its value, but also the cost of insurance for mobile home coverage. The roof and siding are two vital areas to protect in order to insure the best premiums and the most comfortable living experience in the dwelling itself. Texas Auto Home Insurance can help you anticipate and counter deterioration and depreciation of your mobile home’s value, and we can help you subsequently lower your monthly premiums on mobile homeowner insurance. The following are a few basic steps that anyone can take toward reducing the cost of mobile homeowner insurance and improving the quality of life in their mobile home.

Older mobile homes can often spring leaks that can lead to subsequent water damage. Carriers will view such dwelling as higher risk and therefore charge higher premiums for mobile homeowner insurance because there is a greater risk for claims inherent in the dwelling. Homeowners can do something about this, however, by conducting routine inspections of their roof and siding to check for signs of weathering that could cause leaking and damages in the future. Roof “puddling” or standing water on the roof is a sign of bad things to come as it signals forthcoming deterioration and leaks that cause substantial interior damage. If you discover puddling on your roof, you can usually repair it by applying new roof coating to seal off any cracks forming in the material. New roof coating not only prevents leaks but also may reflect sunrays allowing for a cooler summer in the home. Once completed, forward documentation of all repairs to your mobile homeowner insurance provider. That, along with a systematic and detailed annual report of the condition of your roof and siding, can be enough in many cases to justify a discount on mobile homeowner insurance premiums.

Maintaining siding is another key factor in obtaining lower mobile homeowner insurance premiums. Even a minor opening in the siding can invite wind and rain into the home. The average insurance company that advertises guaranteed, generic low rates usually assumes that an older mobile home automatically has problems with the siding. This assumption may not be the case for your home, but it can still cost you higher mobile homeowner insurance premiums if you don’t verify and maintain the condition of your siding and let your insurance company know.

If your mobile home is relatively new, preventative maintenance also works toward lowering premiums on mobile homeowner insurance. Consistent cleaning and caulking are two very cost effective ways to reduce effects of weathering on your siding. Adding awnings and attachments to the mobile home can create a coverage problem if your mobile homeowner insurance provider is not properly notified of the new addition . Remember to properly slant the additions to insure adequate drainage and prevent water from draining into the home.

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because of the $787 billion economic stimulus measure that Congress passed, and the United States is “beginning to see signs of increased sales and stabilized housing prices for the first time in a long time.” At the same time, he said full-fledged recovery is months away, adding, “it will take patience.” He also said his administration was taking steps to make sure banks have money to lend “even if the economy gets worse.” Obama remains widely popular, but his administration has endured …

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If you have any questions as to how you can save money on insurance, visit http://texas-auto-home-insurance.com/mobile-homeowner-insurance.htm and http://texas-auto-home-insurance.com

Article Source: ArticlesBase.com – Texas Mobile Homeowner Insurance

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You know you need homeowners insurance to protect your home and your belongings. But do you know how much to buy, what it covers, and how to save on your premiums?

How Much Homeowners Insurance Should You Buy?

You need to consider two major factors:

* How much it would cost to replace your home if it were completely destroyed. You can get an estimate from a local builder or real estate agent to figure out this amount.

* How much it would cost to replace your belongings. Doing an inventory and totaling up the value of everything you own will help you determine this amount.

What Does Your Homeowners Policy Protect You Against?

Your homeowners insurance policy protects your home and your belongings against damage from:

* Wind and hail

* Explosions

* Fire and lightning

* Vandalism and theft

* Smoke and plumbing leaks

It also protects you if someone is injured on your property, and it pays for your living expenses if you need to live somewhere else while your home is being repaired.

How Can You Save On Your Homeowners Insurance?

There are several ways you can help reduce your premiums:

* Keep your credit record clean. People with poor credit pay more for their policy than those with good credit.

* Get discounts. You may qualify for discounts if you’re a non-smoker or a senior citizen, or if you install smoke detectors, sprinkler systems, or deadbolts in your home. Ask your insurer about all the discounts you qualify for and include them in your policy.

* Set your deductible as high as you can afford. The higher your deductible, the lower your premium.

* Shop rates on an insurance comparison website. Homeowners rates can vary dramatically from company to company. You can get rate quotes from multiple A-rated companies just by filling out a simple form on an insurance comparison website. On the best comparison websites, you can even talk with experts online to get answers to your questions and advice on how to save money on your premiums (see link below).

Visit http://www.LowerRateQuotes.com/homeowners-insurance.html or click on the following link to get homeowners insurance rate quotes from top-rated companies and see how much you can save. You can also get more tips in their articles section.

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Eddie is most definitely flirting with disaster when he tries to date a woman much older than him. Meanwhile, Steve is causing Carl’s homeowner insurance to skyrocket. … Spin Off African American Family Sitcom Nerd Steve Urkel

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The authors, Brian Stevens and Stacey Schifferdecker, have spent 30 years in the insurance and finance industries, and have written a number of articles that explain homeowners insurance.

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Residential coverage protects against damage or destruction of your house so in the event that your home is destroyed by a disaster such as a tornado or fire or any other loss that your policy covers, the insurance company will pay for repairs or completely replace your home.

It is vital to keep your homeowners insurance policy updated because the insurance company will only reimburse you for the insured amount of your home.


If your homeowners insurance was purchased over five years ago, the value of your home has probably increased since that time. However, without updating your policy to the current value of your home, the insurance company will pay only for the estimated loss as it was established when the policy was originally purchased. So if your home was insured for $300,000 and the value has risen to $500,000, the reimbursement amount paid by the insurance company would be short by $200,000.

Many homeowners that have to make a claim either do not have the proper homeowners insurance coverage or do not have enough coverage. Most good homeowners insurance policies today cover up to 120% of your dwelling coverage limit. But it is very important that you review the dwelling limit with your homeowners insurance agent at least every 2 years. Also remember that flood insurance coverage is never part of standard homeowners insurance policy. If you live in a flood prone area, you should seriously consider adding this coverage to your homeowners insurance policy.

You also have to take into consideration the replacement costs of your belongings throughout the home so you want to conduct a complete and accurate inventory in every room. One of the easiest methods to accomplish this is a video camera going room to room. But a digital or film camera will still suffice to jog your memory. It is much easier to document what you have than to try remembering everything when disaster strikes. It is best to store the video or photographic evidence off site. Use a relatives home or a bank safety deposit box. You may also want to invest in a small fire and water resistant safe to store these important documents.

Many people find that when disaster strikes, their homeowners insurance falls short. It’s possible that you may qualify for assistance from the FEMA (Federal Emergency Management Agency). The SBA (Small Business Administration) also provide disaster-assistance loans. Those people who qualify can borrow up to $200,000 for rebuilding and $40,000 for personal property replacement at very low interest rates for up to 30 years.

Since each homeowners insurance policy is different, you need to know exactly what is covered and what is limited or excluded. Call your agent to see if your homeowners insurance policy is current because you want to be sure you will receive 100 percent of the replacement cost. Don’t make the mistake of forgetting to look over your policy from year to year because doing so could cost you much more in the event of a disaster striking.

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because of the $787 billion economic stimulus measure that Congress passed, and the United States is “beginning to see signs of increased sales and stabilized housing prices for the first time in a long time.” At the same time, he said full-fledged recovery is months away, adding, “it will take patience.” He also said his administration was taking steps to make sure banks have money to lend “even if the economy gets worse.” Obama remains widely popular, but his administration has endured …

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Paul Lindberg is a freelance writer living in Utah with his wife and cats. For free” target=”_blank”>www.hometownquotes.com/index.cfm?action=affiliatehome1&affid=5976&camp=is”>free homeowners insurance quotes, visit HometownQuotes.com” target=”_blank”>www.hometownquotes.com/index.cfm?action=affiliatehome1&affid=5976&camp=is”>HometownQuotes.com.

Article Source: ArticlesBase.com – Is Your Homeowners Insurance Policy Up-To-Date?

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According to surveys conducted by the National Association of Insurance Commissioners (NAIC), millions of homeowners assume that their standard homeowners insurance insures them against several kinds of losses typically excluded from coverage. These exclusions are sometimes referred to as “Cat, Rats, and Brats,” reflecting three exceptions to standard coverage.
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Cats. A 2007-2008 survey conducted by the American Pet Products Manufacturers Association reveals that 71.1 million of America’s 113.7 million households (63 percent) own at least one pet. This represents an all-time high for pet ownership in the United States. Many people assume that their home owners insurance covers damage to windows, doors, furniture, and carpeting caused by pets. They are mistaken. A standard homeowners insurance policy excludes damage caused by cats, dogs, rabbits, and other pets. The NAIC reports that 22 percent of the people they surveyed thought that their insurance covered injuries to or theft of pets. This is not correct.

Rats. Damage by wild creatures is not covered by homeowners insurance, either. Nearly a third of the homeowners surveyed by the NAIC (31 percent) mistakenly believe that damage caused by infestations of rats, bats, mice, ants, termites, and other pests is covered by their homeowners insurance. It is not. Pests are so prevalent that insurance companies cannot afford to assume the risk of property losses they might cause.

Brats. Children and young adults lack the experience—and sometimes the respect for property—to be careful with personal possession or even the home. Whether the result of an innocent accident or malicious acting out, damage caused by children is not covered by home owner insurance.

Living on the flats. According to the U.S. government, virtually every part of the United States is subject to flooding. Some areas are more susceptible to flooding than other areas, of course. The areas most at risk are known as Special Flood Hazard Areas. Because floods cause widespread damage, private insurers cannot profitably insure against their risk. To prevent floods from wiping out the assets of the millions of Americans who live in flood zones, the U.S. Congress enacted the National Flood Insurance Act of 1968, establishing the National Flood Insurance Program (NFIP). Funded with premiums from homeowners and able to borrow against the national treasury, the NFIP offers the only kind of flood insurance available in the United States. Optional in some areas, flood insurance is mandatory for homeowners who live in Special Flood Hazard Areas. Despite the fact that flood insurance requirements are disclosed when a person purchases a home, the NAIC found that 33 percent of respondents wrongly assumed that their homeowners insurance covered flood damage.

War-like acts. The mainland of the United States has sustained damage from war-like acts only four times in its history. The first attacks came in the War of 1812 when British troops invaded points along the border with Canada and burned Washington D.C. The second incursion occurred when forces under the command of Mexican General Pancho Villa raided Columbus, New Mexico on March 9, 1916, and burned the town. The third attack occurred on February 23, 1942, when a Japanese submarine fired on an oil refinery in Santa Barbara, California. By far the worst attack occurred when terrorists from the al-Qaeda network flew airliners into the World Trade Center and The Pentagon on September 11, 2001, killing 2,998 and causing more than $30 billion in direct property damage. Damage caused by war and acts of terrorism are not covered by homeowners insurance.

Earthquake cracks. Earthquakes have struck 39 of the 50 states since 1900. According to the Federal Emergency Management Agency (FEMA), earthquakes cause more than $4 billion in property damage per year. Because earthquakes cause widespread damage in a matter of seconds, insurance companies cannot afford to cover earthquake damage with a general homeowners insurance policy. Nevertheless, the NAIC survey reveals that 35 percent of homeowners believe their homeowner’s insurance covers earthquake damage. To insure their homes, homeowners need to purchase separate earthquake policies. After the Northridge earthquake of 1994 that caused $12.5 billion in losses, California insurers stopped offering earthquake insurance. To guarantee that homeowners at least could rebuild their homes after a severe earthquake, the California legislature passed a law requiring property insurers operating in the state to offer “mini-policies” to cover primary dwelling spaces, but not pools, patios, and other non-essential structures.

For most people, their home is their biggest expense and largest asset. While the majority of homeowners know that some things are excluded from their homeowners insurance coverage, a surprisingly large number of people—roughly a third of homeowners—do not realize that their coverage excludes some types of damage. Every homeowner should review their homeowner’s insurance policy to verify their coverage then contact their insurance agent to discuss what types of additional coverage might be necessary to protect their home.

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About Author

Bradley Steffens is a copywriter and the author of twenty-eight books. He has written for a range of clients in the financial, healthcare, and high tech industries, including Raymond James Financial, Cardinal Health, and Del Tel, Inc. His latest book is a biography of the medieval Arab scientist, Alhazen.

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