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homeowners insurance

What Does (And Doesn’t) Homeowner’s Insurance Cover? 

April 24, 2020 By Flor Caballero Lynch

houses-2230817_960_720If you have a homeowner’s policy you will know that there are different types of coverages that exist—but an interesting fact is that J.D. Power & Associates did a study in 2019 and found that 52% of policyholders didn’t know what their policy actually covers! And that meant that homeowners didn’t know both what is covered and what coverages they should actually have for themselves!

Policies usually have Dwelling Coverage as the main part of a policy—which covers your home! Personal Property Coverage, which covers things you own within your home. And Other Structure Coverage, which covers other buildings on your property such as a garage, driveway, fences—anything that isn’t created by nature that is on your property pretty much!

There is another component that is usually a part of a Homeowner’s Insurance policy, and it is very beneficial: Personal Liability Coverage! If you had someone get hurt on your property and it was your fault you would be covered—or if you damaged someone else’s property, you would be covered! It can cover legal fees too!holiday-house-177401_960_720

What isn’t covered on a standard policy is a bit confusing too since you will probably think you will be covered if one of these happens! Acts of God such as earthquakes and flooding are usually not covered, if the sewer backs up into your house you probably aren’t covered, or things like mold/termites in the walls of your home! To get these covered you will have to get a separate policy in order to do so!

What this all means is you should talk to your insurance agent and carrier about everything that you want covered and what policies you will need to get to cover any gaps in coverage! Never be afraid to ask!

Filed Under: Homeowner Insurance, Insurance Tagged With: home, homeowners insurance, house, insurance, summer

How Are You Sure Your Homeowner’s Insurance Ready For Summer?

April 14, 2020 By Flor Caballero Lynch

vw-camper-336606_960_720The days are getting longer, the cold weather is getting warmer, and you’re spending more time outside—this must mean that summer is almost here! We all can use some warm sunshine and better weather these days, but with the coming of summer it comes time to look at your Homeowner’s Insurance policy to make sure you still can have a great time this summer without any worry!

An example of a summer activity that would require you to review your homeowner’s policy would be building a fire pit in your backyard! Fire pits and open grills come with their own unique sets of risks, and while most Homeowner’s Insurance policies usually cover grilling activity and conventional grills—fire pits and other kinds of barbecue structures might not be covered on your policy! Another thing to consider would be local ordinances—some municipalities might not allow a fire pit to be built due to local Burn Laws, or due to the proximity of the pit to the home itself! Remember that Homeowner’s Policies do not cover damages caused by illegal activity, so keep that in mind!

If you are planning on doing any home repairs this summer make sure you have adequate insurance protection! Talk with your agent or carrier to find out if your policy will still function if you are doing work to your home—if not ask about Builder’s Risk Policy to get yourself covered! Contractor’s usually have some type of liability insurance associated with their business, but it is always better to be safe than sorry!

financing-3536755_960_720If you already have a pool you’ve likely added coverage for any pool-related mishaps that might occur, but if you are building a new pool (Even an above-ground pool!) you will have to let your insurance carrier know! Swimming pools create a whole new dimension of risk for any homeowner and will always need to be covered under their homeowner’s policy to make sure you’re covered if anything goes wrong!

Before you kick up your feet next to the pool this summer, take a look at your policy to see that it is primed and ready to protect you no matter how you choose to enjoy the summer season!

Filed Under: Homeowner Insurance Tagged With: home, homeowner insurance, homeowners insurance, insurance, ready, seasons, spring, summer

How Can I Save Money On Homeowner’s Insurance?

April 3, 2020 By Flor Caballero Lynch

earth-1149733_960_720As Bob Dylan sang in 1963, “The Times They Are A-Changin’”, and now in 2020 the song still holds true—we are facing drastic changes, and with these changes come a new set of challenges for just about everyone around the globe! With people needing to stretch their assets further and further, it becomes a necessity to trim down their expenses anywhere they can, and homeowner’s insurance is sometimes one of those expenses that some don’t know can be reduced through being proactive and by working with your insurance carrier!credit-squeeze-522549_960_720

First way to reduce the cost of your insurance would be to bundle any existing policies that you might have, such as if you have an Auto Insurance policy with another company—it would be worth it to ask for a discount on them both if you were to bundle them together with a single company! Insurance companies love it when you give them more business—if you can convince them you will switch for a discount, they might take you up on it!

Raising your credit score can also vastly help your Homeowner’s Insurance rates since insurers use this information to determine your premium payments! Depending on the insurance company and the state you reside, your credit history can increase your Homeowner’s Insurance rates by almost 30%! Make sure that you keep up with your payments and keep the amount of credit you use to a minimum in order to benefit from a lower rate!

Making your home safer can also help you save money on Homeowner’s Insurance! If you have an up-to-date home security system, a damage resistant roof (Metal roofing is a good example), or anything that makes your house a safer place to be in you can probably use it to help get a discount on your premium rates! Just make sure that the cost of the upgrade does not outweigh the discount amount!

There are many other ways to gain a discount with an insurance company, and I find it worth it to always ask! It’s better to ask than to wonder!

Filed Under: Homeowner Insurance, Insurance Tagged With: covid-19, home, homeowners insurance, insurance, money, virus

Can You Get A Home Warranty for Free?

August 24, 2018 By Flor Caballero Lynch

architecture-1836070_960_720Yes, there are some situations where you may have free home warranty coverage on your home. These scenarios differ and have their pros (Well…it’s free!) and their cons.

Sometimes when acquiring a new home, a home warranty will be bundled into the sale by your real estate broker or agency, and usually these are given as a thank you/welcome home present. These plans are usually short lived and last only a year on average, so it is worth it to start looking around at what you want during that year!

If you have built the home with a builder sometimes the builder will include it as well to let you know that their build is covered, and you can live in the house with some peace of mind. A lot of times these warranties are limited to certain aspects of the house, such as plumbing, electrical, and air conditioning system— but these types of warranties usually are free and sometimes last longer period of time than one through a real estate agent.handymen-3091826_960_720

If you remortgage your house, your lender may include it as part of their deal with you— but these you usually will have to opt in and these bundled plans will act like a normal home warranty would and can vary in the amount of time it is free!

When you are getting a free warranty, make sure you understand the terms of the warranty and how you can cancel their coverage before/after the period is over. If you find a new warranty that provides more value to you, it might be worth it to get rid of the free warranty and start with one that you prefer, just always keep your eyes and ears peeled for what you want!

By Aaron Young

Filed Under: Homeowner Insurance, Insurance Tagged With: Home insurance, home warranty, homeowners insurance, insurance, warranty

What is homeowners insurance?

August 3, 2018 By Flor Caballero Lynch

real-estate-2734564_960_720A home insurance policy is what you want to have when things like damage happens to your home through acts of god, fires, and theft. Each of these things are hard to swallow thinking about, but this is a necessity in the world of homeownership (And required if a house is mortgaged). These policies are renewed yearly, and price can vary depending on the coverage— and like most other insurance policies out there, you will have to pay a deductible when you make a claim!

Say for instance you have a pipe burst in your kitchen causing water to flood everywhere! You luckily have home insurance and call your provider to find out your next steps, what they will do is send an insurance adjuster over and they will take into account the damage that the water caused and how much it will be to fix/replace everything (Including the pipe!). plumbing-840835_960_720

Once given approval for your claim, your insurance provider will then deduct the amount of your deductible and pay out the balance to repair your kitchen! The higher the deductible the lower your the payment, and the lower the deductible the higher your payment— just depends on your preferences!

By Aaron Young

Filed Under: Homeowner Insurance, Insurance Tagged With: home warranty, homeowner insurance, homeowners insurance, insurance

Why you need home mortgage protection

February 22, 2012 By Aaronflorlynch

Home Mortgage ProtectionHome mortgage protection, or mortgage protection insurance (MPI), is not to be confused with private mortgage insurance (PMI). While both insurance policies offer protection to lenders, MPI offers equal, if not greater, protection to you, the policyholder. PMI offers no assurances; it only comes into play if you default on your mortgage, thus protecting your lender. MPI, in contrast, protects your investment.

[Read more…] about Why you need home mortgage protection

Filed Under: Homeowner Insurance, Insurance Tagged With: home mortgage protection, homeowners insurance, mortgage protection insurance, private mortgage insurance

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4420 N. Mesa St
El Paso, TX 79902

(915) 996-9799
FAX: 1-866-514-3064

flor@florinsurance.com
www.florinsurance.com

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