In short, homeowners insurance is required by all banks for individuals and families to protect their homes and investments from dangers such as fire, theft, and natural disasters. However, these insurance companies don’t always operate on the level and can cause homeowners a lot of grief by acting in bad faith.
Homeowners Insurance Laws in Texas
In Texas, homeowners insurance is supposed to pay to repair or even replace your house and other personal property when they are damaged in any occurrence covered by your policy. As stated by the Texas Department of Insurance, “Texas has a Consumer Bill of Rights for homeowners and renters insurance” and most policies cover:
- Dwelling coverage – This means you are covered if your house is damaged or destroyed by an event covered by the policy.
- Loss of use coverage – Insurance must pay any additional living expenses associated with families who must temporarily move due to damage to their house, such as temporary housing, food, and other essential living expenses. The homeowners insurance can also pay part of the cost of dwelling coverage – which is often 10 to 20 percent – or for a predetermined period after the loss of home.
- Medical payments coverage – The insurance company must pay any medical bills of people who were hurt on your property, even if they aren’t part of the family. However, most basic homeowners insurance policies pay only $500 in medical bills, although there are options to buy more medical coverage, which may be a good idea if a family’s health insurance is lacking.
- Personal liability coverage – When someone is injured on your property as the result of a covered policy, your insurance is required to pay to defend you in lawsuits against the other parties. It even pays if you are found to be legally responsible for the injuries.
- Personal property coverage – This covers the items inside your house that have suffered damage including furniture, electronics, appliances, jewelry, flooring, drywall, electrical damage, and much more. This also includes items that are stolen.
- Other structures coverage – If a structure is on your property but not attached to the house, such as a detached garage, the homeowners insurance must pay to replace it, as well as all the items contained inside of it.
Homeowners Insurance Companies
Whenever a homeowner does have a legitimate claim, it can be bogged down, not taken seriously, or even outright denied. This is because the insurance company is putting their own financial profits first instead of looking out for their customers. They can often use complex and ambiguous statements, as well as lengthy contracts full of legal jargon. When it comes to delaying or denying coverage for homeowners, it essential that families have an attorney on their side to help them navigate the process and hold the companies accountable for enforcing their policies.
Get Help From Houston Homeowners Insurance Attorneys
Our firm relies on our decades of experience in dealing with homeowners insurance companies. We are familiar with the distraction tactics they may use, as well as how to get the best result for our clients in a minimal amount of time.
If your family has been neglected or denied in your homeowners insurance claim, contact one of our Houston homeowners insurance attorneys immediately to learn your options.