Texans who maintain homeowners insurance in Houston usually appreciate that the typical policy will not cover every disaster that potentially befalls a dwelling in Southeastern coastal Texas. Home sellers who relocate while a home remains vacant and on the real estate market need to pay particular attention to issues of coverage, however.
Today, most real estate owners appreciate that insurers cannot safeguard property against every possible form of risk. The coverage provided by homeowners insurance in Houston generally seeks to protect insured residents from common types of unforeseen losses that periodically impact dwellings: cracked slabs, broken skylights, kitchen fires and leaking roofs represent typical types of issues that insurance companies issuing homeowners insurance in Houston usually cover.
Many other types of calamities don’t enjoy protection. For instance, while sinkholes occur in most parts of Texas and other states, insurers only offer coverage for that type of rare disaster in two places: Tennessee and Florida. Residents can obtain homeowners insurance in Houston for some other types of potentially serious hazards by checking with specialized sources. For instance, the National Flood Insurance Program assists thousands of people seeking insurance against flooding, provided the home does not occupy a flood plain. Most real estate owners accept the fact insurance cannot cover every potential form of loss.
Households carrying homeowners insurance in Houston encounter two critical time consideration issues when an owner relocates from an insured Houston dwelling. These concerns may impact the ability to file a claim and obtain compensation if damage occurs to the residence.
First, if a problem arises on the property that would typically receive policy coverage, the policy holder must usually alert the insurance company to the issue within a specific designated time frame in order to obtain compensation. Second, insurers typically won’t cover residential property classified as “vacant”.
Timely Notification And Repairs
Homeowners insurance in Houston sometimes assists real estate sellers who sustain real estate property damage and promptly notify the insurance company about the issue. For example, if an unexpected hail storm breaks several windows, an owner may decide to file a claim in order to correct the damage to the property promptly. This type of accidental damage occurs frequently in Southeast Texas, and often impacts residents who carry homeowners insurance in Houston. Most houses show better for real estate sales purposes when visible damage does not disfigure the exterior of the residence.
Yet the situation grows more complicated if an owner has already placed the home on the real estate market and relocated to a new residence. Unless a real estate agent or other property manager notifies an absentee owner about recent hail damage, the owner may not discover cracked or broken windows in a timely manner. Since most policies establish time frames for notifying an insurance firm about an issue, the homeowner’s ability to obtain coverage may depend upon adhering to the policy requirements.
Another, potentially very significant issue, also arises with some frequency in connection with dwellings in Houston and many other cities that have been placed on the real estate sales market. Even if an owner has maintained homeowners insurance in Houston for many years, it remains important to check any policy coverage exclusions relating to vacant property. Most standard homeowners insurance policies will not cover “vacant” residential properties.
A family in the process of moving to another home may want to consider having a family member remain on the premises until their sales transaction closes in order to avoid losing important insurance protection. At a minimum, the householders should consult with a qualified professional about the insurance situation. Most insurance companies won’t cover vacant properties because the premises might sustain damage or vandalism in the absence of an occupant. Home sellers carrying homeowners insurance in Houston avoid losses and disappointment by considering this issue prior to undertaking a household relocation.
Visit a Money Website
To obtain additional information about ways to prosper in Houston, many people use online resources. Visiting a site dedicated to money saving issues offers an excellent way to gain information and tips that may prove useful in cutting unnecessary expenditures and maximizing profit opportunities. People maintaining homeowners insurance in Houston may benefit by adopting this strategy.