As a result of the recent increase in water and mold remediation claims in Texas, many insurance companies are now offering policies with limited coverage known as an HOA. Slow water leaks, sewer back up, slab leaks, mold remediation and claims as a result of construction defects are commonly excluded on the new 'HOA' forms.

The basic HOB form covers all the claims listed above except mold. However, mold remediation is offered as an additional endorsement available for an additional premium. The endorsement covers expenses related to remediation and testing of mold that has spread beyond the actual water damaged area. Some companies offer their own forms that may cover some combination of the claims listed above. Ask your agent to explain the differences!

Texas insurance policies have two deductibles. Clause 1 covers wind and hail, while Clause 2 is all other covered perils. Some deductibles are based upon a percentage of the dwelling coverage. Example: A 1% deductible for a $500,000 dwelling is equal to $5,000. Each 'Clause' may have a different deductible. A higher deductible will lower the premium paid by the homeowner. If you currently carry $250 or $500 deductibles you should investigate the savings to move to the higher deductibles to lower your premiums.

Taking advantage of every discount available to you could save you a bundle as well as make your home a safer place to live in! Most companies will give you from 10% to 20% off your homeowner's premium if you also place your auto insurance with them. Monitored burglar and fire systems will also net savings from 7% to 15%. A state mandated program can give you up to a 15% discount for an eligible burglar alarm system and a 5% discount for deadbolt locks and other burglar-proofing devices. Both discounts require inspections by the crime prevention unit of your local police or Sheriff's department. Also, consider an impact resistive roof when replacing your roof or building a new home for additional discounts. Other discounts include; sprinkler systems, senior citizens, non-smoking, video monitoring and more.

For more information call Doug Haeussler at (972) 665-1930.