We're buying a house in Houston, TX and are currently shopping for a homeowners insurance. What are HO1, HO2, HO3, and etc. ? What coverages are required in the State of Texas?
2007-05-05 04:35:09 · 5 answers · asked by Anonymous in Business & Finance ➔ Insurance
Be sure and get flood insurance -- whether you are in a flood plane or not. There is a minimal chance of localized flooding in any area. It's well worth it, for the coverage you get. Homeowners will NOT cover flood damage, so without it, you could get into a finger pointing issue if you have storm damage.
I have Allstate, and have been very pleased (though I've never had a claim). Allstate or State Farm will give discounts if you have home & auto insurance throught them, so you may want to take this into consideration.
2007-05-05 06:53:25 · answer #1 · answered by DCSports 3 · 0⤊ 0⤋
OK, well, HO1, HO2, and HO3 aren't available in Houston, sorry. Texas is a WEIRD state. If you're moving from out of state, there are a couple things to know, that are different here: 1. Houston, and Harris county, has "special" flood requirements, OUTSIDE Fema, for the "hurricane allison" project. Don't get me started on it. 2. There's a lot less coverage under a TX homeowners policy!! 3. There's a SEPERATE DEDUCTIBLE for wind damage in Houston. It's usually 2-5%. Yep, 2-5% OF THE CLAIM, so that usually works out to a lot more than $1,000, or whatever you're looking at.
No coverages are "required" by the state, on a homeowers policy, it's all "lender's requirements". If you get an HOA form, that's about as good as it's going to get here. When I was shopping around, I found the most comprehensive NEW form, at the best rate, with Travelers. Email me if you want me to refer you to the agent (I'm in SW Houston). I ended up sticking with State Farm, because we've had the policy a while, and it's a much broader form (although the most expensive, by far).
Hope that helps!
2007-05-05 13:04:41 · answer #2 · answered by Anonymous 7 · 1⤊ 0⤋
Since your moving to texas and thier has been problems in the past with homeowners policy in that state with the state deparment and some companies i would check out globalwideinsurance. com
2007-05-06 08:45:26 · answer #3 · answered by Anonymous · 0⤊ 0⤋
various schemes of policies available
2007-05-05 11:38:17 · answer #4 · answered by cmtis 1 · 0⤊ 0⤋
Usually your insurance rep and your R.E. agent can clarify all that...your agent should guide you thru all that...if they are competent.
2007-05-05 11:42:47 · answer #5 · answered by Timberuno 2 · 0⤊ 0⤋