The abrupt shaking of the earth that happens during an earthquake can cause damage to a home’s foundation. Even the smallest magnitude earthquakes can cause slight cracking of the foundation, which can be extremely expensive to fix.

Many homeowners believe that their homeowners insurance will cover all, or most, of the cost to repair a cracked foundation, but that might not be the case. Even though an earth quake is considered an ‘act of God’, it is one of the perils that are listed as excluded from basic homeowner’s insurance policies.

When a homeowner’s policy lists a peril as excluded, it typically means that any expenses related to that incident will not be covered. Homeowners that are concerned about incurring the cost of damages due to an excluded peril may want to consider purchasing extra insurance coverage.

Many insurance companies offer earthquake insurance. This is often considered an addition to an existing homeowner’s insurance policy and will cost extra. How much extra this type of insurance will cost will depend upon a number of factors including how likely an earthquake is to occur in a specific area, the cost of the home, and how old a house is.

Even though homes in the Dallas – Fort Worth, Texas area are not in immediate danger of experiencing a cracked foundation due to an earthquake, it still may put a homeowner’s mind at ease to have that extra insurance coverage.

Our independent agents at Paragon Independent Insurance Agencies can help find the extra home insurance coverage you want and need. Working closely with an independent agent, you will be able to receive multiple quotes on homeowner’s insurance policies that may include coverage against damage caused by an earthquake.

When you invite dinner guests into your home, you may worry about the possibility of food poisoning. Even if food poison is not a concern, you may face high cost medical expenses if a guests in your home becomes sick from food poisoning shortly after a visit to your house. Fortunately, liability protection is available to help manage the cost in Dallas / Fort Worth, Texas.

Liability in a Policy

A homeowners insurance policy will usually have some protection against liability whenever a guest visits your home. The policy will protect against basic injuries, such as a fall down a flight of stairs or tripping on ice in front of your house. It may also protect against food poisoning when the other party proves that the sickness stems from the dinner that they ate.

Differences in Policies

Although liability protection may provide some relief from high cost medical expenses, you may discover that an exception or clause will prevent you from making a claim. Some insurers may not protect against food poisoning or may have a limitation on the amount of coverage. In some cases, it may be necessary to provide that the sickness stems from the house.

The problem with food poisoning is that it can come from a variety of sources and it may not show symptoms immediately. If the insurer discovers that the food poisoning did not take place in your home, then they may refuse to pay for the medical bills.

Liability protection is designed to help protect against high cost hospital bills by paying for the expenses. Depending on the situation and your policy, you may or may not be covered by your insurer. To learn more about liability protection, contact us to talk to an independent agent.

When you purchase a homeowners insurance policy in Dallas / Fort Worth, Texas, the current value of your house at the time you buy coverage is the amount that you purchase. The problem is that the current market value of a home may not be the same as the price you paid to purchase the house, which may mean that you have more coverage that the market value.

Protection from Losses

Even if the house is covered for more than the current value, you are protected against a loss if your house faces a fire or similar incident. The insurer will evaluate the total loss based on the amount of damage, police reports and any other proof that you provide regarding personal belongings that were in the house at the time the damage took place.

Amount Provided

In most cases, you will not receive the full amount on your insurance policy when you make a claim unless the assessment suggests that the value of the house is greater than you estimated.

Insurers will usually evaluate the amount of damage and pay for the repairs based on the value of the house, which means that you have too much insurance if the current plan exceeds the value of your home.

In general, it is best to evaluate your coverage on a regular basis and update your plan to reflect the market value of your home, whether the value of the house increases or decreases over time. The reason is simple: when you change your policy, you will not end up with more coverage than you need. To learn more about your policy options, contact us to speak to an independent agent.

It is usually rare for a home insurance company to increase your rates or even drop coverage for your Dallas / Fort Worth, Texas home after filing a claim. This is especially true for claims out as a result of events termed as an “act of God” such as a hail storm or a tornado. In fact, the only reason you may see your rates increase is if filing your claim invalidates a discount you received for maintaining a clean claims history.

Nevertheless, there are a few scenarios where your insurer may see fit to raise rates or drop your homeowners coverage. Multiple claims in a short period of time may cause your insurer to see you as a greater risk, leading to higher rates. Some companies may even drop your policy altogether. Claims involving dog bites may also cause your insurer to refuse to renew your policy. A 2011 study conducted by the Insurance Information Institute found that dog bites made up over one-third of home insurance liability claims. In 2009, insurers paid over $412 million in liability claims due to dog bites.

In short, it is legal for your home insurance provider to raise rates or even drop coverage after you filed a homeowners claim. As mentioned before, it’s not likely that this scenario will happen unless you’ve met the following conditions outlined in the scenarios above.

If you’re in the Amarillo or Waco area, give us a call to speak to an independent agent to find out more about where you stand in regards to homeowners claims. We can also help you decrease your current rates and answer any questions you might have about your policy.

Disclaimer: The content of these blogs do not represent any type of specific coverage’s offered by the agency

When a tree falls on a patio in Dallas / Fort Worth, Texas due to heavy winds, you may worry about the expense of paying for the damage to your home. Although homeowners insurance may protect you against tree fall, the details of your policy may vary.

Possible Differences in Policies

While a homeowners insurance policy will often provide some protection to your patio or yard, the situation ultimately determines if the company will pay for the damages or if you are required to manage the expense personally.

Your policy may or may not cover tree fall, depending on the extent of coverage that you selected when you purchased the policy. In some cases, you may not be covered due to an exception related to the weather or due to the situation. Some policies may exclude tree fall from the coverage.

Amount of Protection

If your policy covers the situation, then you may discover that the amount of funds available to repair your patio is limited. In most cases, you will only have a set percentage of the policy that you can use to repair the front or back yard areas.

The percentage can vary between different policies, so it is important to read through the documentation to determine the exact amount that you have available to repair damages to your yard, porch or patio.

Although you may be covered under your current plan, the funds that you can expect and the situation will ultimately determine how much you are required to pay after your deductible and the insurer pay for most of the damages. To learn more about protecting your home, contact us to talk to an independent agent.