Do you know how much your home costs? What about the items inside? Could you afford to rebuild the house or replace lost items if they get damaged or destroyed? The simple fact is most of us couldn’t. However, the right homeowners insurance can help you pay various costs that can aid your recovery.

Come to Reliable Insurance Managers, Inc., and we’ll ensure you get full homeowners coverage today.

What Home Insurance Covers

The average property value in Katy and greater Houston is more than $250,000. That doesn’t even count the value of possessions or improvements over the years.

Just one accident, in one instant, could wipe out everything you have built. That’s why you need homeowners insurance. If a damaging accident like a fire, break-in, severe weather or lawsuit threatens your home, your policy can help you afford the costs to return the home to its normal condition.

When should I purchase homeowners insurance?

Most lenders require home buyers to get homeowners insurance before they will issue home loans. You will likely need to start looking for coverage as soon as you place a property purchase under contract.

What are the different types of home insurance?

Homeowners policies offer various types of protection:

• Structure insurance: This coverage will pay for damage to your house, as well as furnishings attached to the house. Most policies will pay the replacement cost value for structural repairs.
• Contents protection: This coverage can insure belongings like your clothing, furniture, electronics and more. Policies usually pay a damaged item’s actual cash value for replacements.
• Detached structure coverage: Buildings not attached to the house, like carports or storage sheds receive coverage under this policy.
• Bodily injury liability coverage: If a third party gets hurt, and you are at-fault for their injuries, this coverage can pay for that person’s medical costs and other losses.
• Property damage liability: If you damage someone else’s belongings, this coverage can pay for the repairs or replacement items.
• Liability legal assistance: Following liability claims, an affected party might sue you. Most liability policies will pay some or all of your legal fees in case you have to take the case to court.
• Medical payments supplements: Like liability insurance, this coverage can pay in case a visitor gets hurt in your home. However, it can often pay regardless of who was at-fault in the accident.
• Scheduled items: High-value or unique belongings like jewelry or art might need targeted coverage. By scheduling the items, you can ensure they receive specific protection.

The types coverage you need will likely vary based on whether you own a house, condominium, apartment, mobile home or other type of property. Let our agents help you select the right policy.

Flood Insurance

Home flooding from storm surge, flash flooding or related weather occurrences might not have coverage from your homeowners policy. To receive coverage for these hazards, you will likely need flood insurance. Most flood policies come supported by the National Flood Insurance Program (NFIP).

Home Insurance FAQs

What’s the cost of homeowners insurance?

Multiple factors will influence the cost of your homeowners policy. Notably, the type of coverage you buy will cause your price to fluctuate as you select your coverage limits or deductibles. Our agents have the expertise to help you find the right balance of coverage so that you also can save on your rates

What is replacement cost value insurance?

Replacement cost value (RCV) policies pay enough money to replace an item with a new one of equal or lesser value. Most structure policies offer RCV for the cost of your house’s damage. You can work with your agent to make sure the structure policy accommodates increases in construction prices.

What’s actual cash value coverage?

Contents policies sometimes only pay an item’s actual cash value (ACV) at the times of a claim. Cash value is the depreciated value of an item at the time of the incident. This is not the price of a new item.

So, if you buy a new $1,000 sofa, after a few years, it might only be worth a couple hundred dollars. An ACV policy might only pay you that depreciated value in case of a claim. However, you might be able to buy full RCV contents coverage.

Is a home inspection required for homeowners insurance?

Some insurance companies will require your home to receive an inspection before they process your enrollment. We can advise you on the enrollment requirements for your preferred policy.

Do I need a home warranty?

Home warranties are similar to homeowners insurance, but they are not the same. Homeowners policies will pay only for items damaged through unexpected, unavoidable accidents. Warranties, on the other hand, will pay for repairs to common fixtures damaged by normal wear and tear.

If you simply need a broken-down A/C unit repaired, your warranty, not home’s insurance, might pay. However, if a fire or other accident damages the unit, then the homeowners policy might pay.

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