San Antonio Home Insurance
& Your Home
Owning a home is not a small feat to accomplish, especially for new home buyers. There is a lot of prep work before the purchase process begins. Patience is required to save for the down payment and find the right home. Not just any home will do, because it has to fit your needs and have enough room to grow a family.
Quickly, that home becomes a refuge and is filled with all kinds of memories. It is your retreat from a hard day’s work, or a place to binge watch your favorite shows.
At Almendariz Insurance, we believe the same care and consideration given to buying your home should translate into finding the right homeowners policy. Whether it is owning, renting, or investing in a home, we believe in treating the search process with respect.
Our Job is to Guide Clients to a Safe Conclusion
Our goal is to offer you and your family to a storehouse of options for your home insurance. Call today at (210) 301-1640 so we can review your needs, risks, and tolerance and put you in the right policy that makes your life simpler.
Ask the Right Questions
- Is an HO-B better than an HO-A?
- Should I get a low deductible?
- Do I need flood insurance?
- Is roof coverage included?
- Is there a difference between home insurance vs. a home warranty?
This is the actaul home being insured along with a limit based on the value of the home. Many times that limit of coverage is dictated by the mortgage company, set by the homeowner. As a home increases in value, the original limit may not be sufficient to replace a loss. A good rule of thumb is to assess the policy every 2-3 years.
Often times, there are other structures that were not part of the original construction. This is common with sheds, fence, gozebos, etc… This limit is derived from a percentage of the Dwelling coverage which may or may not be adequate. However, this coverage is part of the overall policy and does not change even if there is NO other structure to insure.
Amount is based on a percentage of the Dwelling coverage pertains to articles such as art work, furniture, jewelry, and the like. High value articles may require an edorsment to help offset the lower limit of the Personal Property. Even items in one’s vehicle could covered under this line item, depending on the loss type.
In the event of a loss, the home may no longer be safe to live-in. Or, if remodeling is required, it may be difficult to live in that home during that period. This coverage will allow for staying in anotehr location whether it is for short or long-term. The allowance is a percentage of the Dwelling and may have the ability to increase if necessary.
Actual Cash Value will base a claim on the depreciation of an item to be replaced. A good example is a traditional roof. Over time a roof will age and depreciate in value. If a loss were to occur, the claim will consider replacement based on the value at that time. As a result, older roofs will be given less claim amount depending on the kind of loss.
Replacement Cost is taking the particular item (i.e. – TV) and replacing it with the exact kind despite the age. An item that was purchased a couple years ago would still have the same value at the time of loss as it did during its purchase.
About Almendariz Insurance Home Division
Serving Greater San Antonio families since 2007, Almendariz Insurance is a local family-owned business. As an agent, Fernando Almendariz recognized the need for independence and freedom to offer different carriers. This became especially important during the Texas hailstorm of 2016. It became more evident that offering our clients various options can only benefit them and their needs. That’s why Almendariz maintains active relationships with multiple reputable and well-rated insurance underwriters. Because at the end of the day, it’s all about you. Call today at (210) 301-1640 and put us to work for you.
By having a working knowledge of home insurance, we understand that it can benefit your needs. Not all insurance companies are created alike, and by weighing the benefits of a particular plan we can then determine if cost is the best approach.
What kind of homeowners insurance will I need?
Policies are written on certain “paper”. Which means they either conform to a standard or have one of their own. The former is a more common approach because the benchmark of coverage is maintained by the state. This is a good thing. It gives peace of mind to the consumer that their policy has certain safeguards in place.
Now, insurance companies take those guidelines and offer additional benefits that will attract more attention. These add-ons make sense for certain clients. For others, it may be a traditional plan with no frills and thrills that works best. For example, older and more historic home may not be able to take advantage of traditional coverage and require a specialized product. A newer home has less issues and more likeability with carriers. Finding a policy on new construction is simpler.
Many are unaware of the deductible and the purpose it serves. It is very common to find deductible limits set for 1% but the owner may not understand what that means. Claims typically factor the deductible for incidents. Depending on the cost to repair, it may (or may not) make sense to file it. It is important to speak with us prior to filing a claim to determine the cost to repair versus what the policy will pay.
Other items to consider are what is covered on an insurance policy versus what would be covered on a home warranty. These are different in nature and server completely different purposes. Insurance in general, is designed to cover incidents that may happen. Warranties are designed to replace/repair things that will happen.
Roof coverage is a hot topic. The hailstorm of 2016 is a perfect example of how insurance companies will cover large claims. That Act of God wreaked havoc and many were faced with an immediate need to replace a roof. Even then, everyone’s level of coverage was based on the kind of damage assessed.
On the other hand, some believe that waiting for a hailstorm will allows for a full replacement or handle ongoing issues of water leaks. To their surprise, they find that the insurance company is not so quick to cover certain claims because of the lack of maintaining the roof.
Think of a home as requiring maintenance the way a body needs it. It will require certain updates to keep functioning properly. The lack of attention can be perceived as negligence and the insurance company does not like this.
Keep up with change
Periodic reviews are necessary. The right kind of insurance company wants to grow with it’s clients. They have certain defaults to increase coverage to accommodate the appreciation of the property. It can be a good thing for some but an annoyance to others. We are here to guide and explain what does and does not work for you.
Call today at (210) 301-1640 and put us to work getting the best deal for you.