Wheeler & Associates Insurance

1605 West Ave. H Ste 100 Temple, TX 76504

 
 
 
 

"We specialize in cusomer service."

 
 

Homeowners Insurance Education


We try to anticipate questions you might have about our Homeowners Insurance and provide the answers here. If you need additional information please feel free to call our Temple, TX location at (888) 587-9110 or our Marlin, TX location at (254) 803-2518.  And we would be glad to assist you with your question even give you  a free quote. 

1.

What is Homeowners Insurance?

  • Homeowners coverage is a form of property insurance that protects the structure of a home and the personal belongings kept in it. Homeowners Insurance also has a liability component that will provide for your legal defense and any damages if a member of your household injures someone or damages another  person's property.Typically, Homeowners Insurance also reimburses policyholders for the living expenses they incur while their homes are being repaired after experiencing a covered loss.
  • There are several degrees of Homeowners Insurance coverage.   Please give us a call and we can further discuss the right coverage for you.

2.

What parts make up a homeowners policy?

  • Although homeowners insurance policies differ in their actual structure, most contain the same basic components:
  • Declarations Page:  Usually the first page of your Homeowners Insurance policy, it typically contains the following summary information:

  

  • What we will need to get you the most acurate Quote: 
    • Name and address of the insured
    • Dollar amount of coverage
    • Description of the insured property
    • Cost of insurance
    • Name of the insurance company insuring the risk
    • Contact information

 

  • Definitions-Explain the meaning of terms used in policy.

 

  • Coverage- Details the extent of protection for both property (house, structures, contents) and liability (bodily injury or property damage to others for which you are liable) in your Homeowners policy.

 

  • Exclusions- Explanation of what is not covered by your homeowners insurance policy, under both property and liability coverage.

 

  • Conditions- Outline the responsibilities of both the insured and insurance company under the policy.  Your duties in the event of a loss and also the procedures the company will follow to settle any losses are detailed here.

 

  • Endorsement- Riders, amendments or attachments that alter the standard coverage provided by your home insurance policy.  If you choose endorsements for your policy, you may pay an additional premium.

3.

How much Insurance do I need?

  • You need enough Homeowners Insurance to cover the cost of rebuilding your home if it is destroyed, to replace your personal possessions if they're damaged, and protect you from liability lawsuits.
  • To decide how much home coverage you need, to get the square-foot building  costs in you area from a builder or a Realtor, then multiply that figure by your home's square footage.  For coverage of your personal property, take an inventory an everything you own use the total value. 

4.

How should I inventory my home?

  • Remember to list big-ticket item like jewelry, artwork and collectibles.  Make sure it inform your agent of the total coverage needed for jewelry,, artwork and collectibles because most companies only cover $500 of the cost of these items.
  • Take pictures of rooms and important individual items.
  • Videotape your home by walking through it and describing the contents throughout the house.
  • Save an inventory list on your personal computer and store it on a separate disk drive.
  • Put all photos, lists and videotape documentation in a fire safe box or at another location.

5.

What does Homeowner Insurance cover?

  • Homeowners Insurance protects your home and personal property from damage due to fire, lighting, burglary, vandalism, and acts of nature.  It also protects your against liability lawsuits if someone is hurt in your home and they sue you.

6.

What about Flood Insurance?

  • Flood insurance is not included in your homeowners policy your must purchase it separately. 
  • For more information visit our page with Flood Insurance information.

7.

Where can I get cheap Homeowners Insurance?

  • Insurance premiums can vary by hundreds , even thousands of dollars a year from one company to another. So the best way to get cheap Homeowners Insurance is to comparison shop.
  • Comparison shopping is something our company offers!  Being an Independent Agency we have plenty of company's that we can shop around your Insurance with whether it be Homeowners, Auto, Motorcycle, Renters etc.

8.

What factors can affect Homeowners Insurance premiums?

The following factors can affect your homeowners Premiums:

  • Home Features and Characteristics:  Your home's age, type of structure, wiring, roof, garage, etc., can affect your homeowners insurance premium. Older homes can often cost more to insure, and those costs can differ depending on whether your home is brick, frame, stone or has synthetic siding.
  • Location:  Where your home is located can change your homeowners insurance premium.  For instance, your home insurance rate can be affected if your home is in close proximity to a fire station; is exposed to extreme weather, such as hurricanes, tornadoes or earthquakes; or is in a neighborhood more prone to theft.
  • Protective Devices:  Burglar alarm systems, smoke detectors and sprinkler system in the home can lower your homeowners insurance premiums.
  • Personal Factors:  A good credit history also can lower what you pay for home insurance.
  • Claims History:  If your have a history of claims on a homeowners insurance policy, you may pay a higher premium.