How to Choose the Best Home Insurance for You

Choosing a Home Insurance Policy

From young to old, first-time to veteran home buyer, an alarming number of people don’t know how to choose a home insurance policy. Should you get an ACV or a RCV policy? Do you need flood insurance? Why are the premiums so different?

Yes, insurance policies can be confusing. They’re filled with legalese and abbreviations, and maybe just skimming them gives you a headache. But, as a homeowner, you need to be able to make an informed decision.

Here. Let us break it down for you.

Do I need an ACV or an RCV policy?

Our clients often share that they chose their insurance policy because it had a low deductible. They never realized that low rate meant they were getting an ACV policy, which insures your home for its components’ Actual Cash Value. That means if your roof is rated to last 20 years, and it’s 10 years old, you’re only insured for what the roof costs today. In other words, if that new roof cost you $10,000 ten years ago, you’re only insured for $5,000. And if you have, say a $2,500 deductible, you only have $2,500 to fix your roof. If you have an ACV policy, you are more than likely throwing your premiums away. You’ll want to make sure you have an RCV, or Replacement Cost Value, policy. In the example above, an RCV policy would have made sure you got the full $10,000, minus the policy deductible, to replace your roof.

What are the different types of property insurance coverages?

With most insurance companies, there are included and optional coverages. Dwelling coverage, contents coverage, property damage and personal liability come standard in most homeowners insurance policies. But, they don’t cover everything.

Dwelling coverage protects your home’s structure, i.e. the floors, walls, ceilings, attached structures and built-in appliances. It can also cover you against fire, hail, theft and vandalism, and get you the money to rebuild your home if necessary, not exceeding your policy limit.

Contents coverage protects, you guessed it, the contents of your home. From clothes to furniture, you can receive payments for the value of your home’s contents if they’re damaged in a covered incident. For example, if you have flood insurance, this coverage could help you replace the items damaged by a flood. While this coverage is included in your policy, the amount of coverage is, ultimately, up to you. When choosing the amount, really think about how much it would cost to replace all of your furniture, entertainment system, wardrobe, etc. You certainly don’t want too little coverage, but you also don’t want to pay for more than you need.

Personal liability protects you and your guests. This aspect of your policy can cover the medical, and other, costs if a guest is injured in your home.

Property damage coverage helps pay for the damages to your property that result from a covered incident.

Optional Home Insurance Coverages

Though most standard policies include the above coverages, they don’t cover everything you might need. The below coverages are, more or less, a la carte options for your home insurance policy.

We would venture to guess that most homeowners in South Texas and Louisiana are already looking at flood insurance after recent years. If you’re not, you should be. The past several years in both Houston and Baton Rouge, and their surrounding areas, have proved that living in a no-flood zone means nothing to Mother Nature. Flood insurance, usually backed by the federal government, is a separate policy insurance companies offer, so it’s usually not included in your homeowner’s policy. Getting flood insurance is always a good idea, unless you live in the desert.

Replacement cost plus and ordinance/law insurance are both options that allow you to rebuild your home after a total loss. If you’ve owned your home for many years or are worried about depreciation, replacement cost coverage might be a good option for you. Ordinance/law insurance helps people with older homes rebuild their houses to fit current building codes.

There are a plethora of policy coverage options including earthquake, structures, medical payments, sewer water backup and more. Even if you don’t think you need a certain option, like earthquake coverage, do your research before making a decision. When choosing how to protect your home, it’s important to understand exactly what you need and to be well-informed. There are more earthquakes in Texas than you probably realize.

Remember, if you ever have specific questions about your policy options, your insurance agent works for you. They are always available as a resources for clarification, explanation or statistics.

Texas Property Insurance Lawyers

If your homeowner insurance carrier has denied your insurance claim, we can help. The experienced property insurance attorneys at Chad T. Wilson Law Firm have represented more than 1,000 clients in cases against insurance companies and aggressively protect the rights of insurance policyholders. Our consultations are free, and you owe us nothing until your case is won. Contact us today to see how we can help.

Our client, a woman whose home was damaged in a severe storm, recently filed a lawsuit against Ark Royal Insurance Company and its adjuster. Ark Royal conducted a substandard and improper inspection of our client’s property. They grossly undervalued the cost of repairs and deliberately yielded an unrealistic amount to underpay for coverage.

August 1, 2016 Storm

On August 1, 2016, a wind and hailstorm blew through Harris County, tearing through neighborhoods as it went. Our client’s Cypress home sustained extensive damage to the exterior, as well as to the windows and air conditioning system. After the storm, she promptly submitted a claim to Ark, hoping her insurance company would help her repair her home.

Ark Royal Insurance Company Home Insurance Claim

Ark assigned one of its adjusters to inspect the property and adjust the claim. The adjuster knowingly conducted a subpar investigation, refusing coverage. This left our client with zero recovery necessary to make repairs to her home.

The third-party expert hired after the insurance company’s negligent inspection found a litany of damages that Ark’s adjuster conveniently left out or undervalued in his estimate.

The third party adjuster estimated the real damage to our client’s home at $35,500.

Ark’s adjuster intentionally undervalued our client’s claims in order to maintain his job. He misrepresented the amount of damage, hoping our client would simply rely on his expertise and fraudulent estimate as a true representation of the property’s damages.

Ark Royal Insurance Company’s fraud forced our client to retain an attorney, just so she could get her roof repaired. On January 30, 2017, the Chad T. Wilson Law Firm filed suit, on behalf of our client, against Liberty Insurance Corporation. The firm is suing for fraud, breach of contract and violations of the Texas Insurance Code and the Texas DTPA.

Houston Property Insurance Lawyers

If your homeowner insurance carrier has denied your insurance claim, we can help. The experienced property insurance attorneys at Chad T. Wilson Law Firm have represented more than 1,000 clients in cases against insurance companies and aggressively protect the rights of insurance policyholders. Our consultations are free, and you owe us nothing until we win your case. Contact us today to see how we can help.

A Houston homeowner is suing Allstate Vehicle and Property Insurance for fraud, negligent hiring and other claims. Our client’s home suffered severe damage after a brutal storm. Allstate and its adjuster responded to her insurance claim with a substandard and improper inspection of the property, grossly undervaluing the cost of repairs and deliberately yielding an unrealistic amount to underpay coverage.

January 8, 2016 Storm

On January 8, 2016, a severe wind and hailstorm bombarded Harris County, Texas, tearing through neighborhoods and destroying homes as it went. Our client’s home suffered severe damage to the roof and exterior, as well as the central air conditioner. After the storm, the homeowner quickly submitted a claim to Allstate, hoping her insurance company would help her get her life back in order.

Allstate Vehicle and Property Insurance Company Home Insurance Claim

Allstate assigned one of its adjusters to inspect the property and adjust the claim. The adjuster knowingly conducted a subpar investigation, refusing full coverage and finding no damage from the storm. This flagrant fraud left our client with no recovery to make repairs to her home.

The third-party expert hired after the insurance company’s fraudulent inspection found a litany of damages that were either conveniently absent or undervalued in Allstate’s estimate.

The damage to our client’s property is currently estimated at nearly $18,400.

Allstate’s adjuster intentionally undervalued our client’s claims in order to maintain his job, misrepresenting the amount of damage in the hopes that our client would simply rely on his expertise and fraudulent estimate as a true representation of the property’s damages.

Because of Allstate Vehicle and Property Insurance Company’s fraud, our client was unable to complete any meaningful repairs to her home, which resulted in even more damage. She was forced to retain an attorney to pursue her claim for insurance benefits. On January 24, 2017, the Chad T. Wilson Law Firm filed suit, on behalf of our client, against Allstate Vehicle and Property Insurance Company for fraud, breach of contract, negligence, gross negligence, negligent hiring and violations of the Texas Insurance Code and the Texas DTPA.

Texas Property Insurance Lawyers

If your homeowner insurance carrier has denied your insurance claim, we can help. The experienced property insurance attorneys at Chad T. Wilson Law Firm have represented over 1,000 clients in cases against insurance companies, aggressively protecting the rights of insurance policyholders. Our consultations are free, and you owe us nothing until your case is won. Contact us today to see how we can help.

Houston Lawyers Sue Liberty Insurance

Our client, a woman whose home was damaged in a severe storm, recently filed a lawsuit against Liberty Insurance Corporation and its adjuster. Liberty conducted a substandard and improper inspection of our client’s property. They grossly undervalued the cost of repairs and deliberately yielded an unrealistic amount to underpay coverage.

April 27, 2016 Storm

On April 27, 2016, a wind and hailstorm blew through Harris County, tearing through neighborhoods as it went. Our client’s Houston home sustained extensive damage to the exterior, as well as to the electrical and air conditioning systems. After the storm, she promptly submitted a claim to Liberty, hoping her insurance company would help her repair her home.

Liberty Insurance Corporation Home Insurance Claim

Liberty assigned one of its adjusters to inspect the property and adjust the claim. The adjuster knowingly conducted a subpar investigation, refusing coverage. This left our client with zero recovery necessary to make repairs to her home.

The third-party expert hired after the insurance company’s negligent inspection found a litany of damages that Liberty’s adjuster conveniently left out or undervalued in his estimate.

The third party adjuster estimated the real damage to our client’s home at $28,000.

Liberty’s adjuster intentionally undervalued our client’s claims in order to maintain his job. He misrepresented the amount of damage, hoping our client would simply rely on his expertise and fraudulent estimate as a true representation of the property’s damages.

Liberty Insurance Corporation’s fraud forced our client to retain an attorney, just so she could get her roof repaired. On January 16, 2017, the Chad T. Wilson Law Firm filed suit, on behalf of our client, against Liberty Insurance Corporation. The firm is suing for fraud, breach of contract, gross negligence, and violations of the Texas Insurance Code and the Texas DTPA.

Houston Property Insurance Lawyers

If your homeowner insurance carrier has denied your insurance claim, we can help. The experienced property insurance attorneys at Chad T. Wilson Law Firm have represented more than 1,000 clients in cases against insurance companies and aggressively protect the rights of insurance policyholders. Our consultations are free, and you owe us nothing until we win your case. Contact us today to see how we can help.

Insurance Facts You Need to Know

Are you informed and knowledgeable about your Insurance policy? Read these Insurance facts and test your knowledge.

There are some basic things most homeowners know about when it comes to protecting, caring for, or insuring their homes. Let your faucet drip when the nights are especially cold so your pipes don’t freeze. Run water in unused spaces to prevent buildup. Turn off all of your appliances before leaving for a trip.

But, there are a few things most homeowners don’t know about their insurance policies. Check out these 4 Insurance facts you should know.

Even if you have home insurance, you might not have flood insurance.

Flood insurance, usually backed by the federal government, is a separate policy insurance companies offer, so it’s usually not included in your homeowner’s policy. Getting flood insurance is always a good idea, unless you live in the desert. When rain overwhelmed Baton Rouge in August 2016, many homeowners found themselves at a complete loss. They didn’t think they needed flood insurance because they lived in no-flood zones. Learn from their experience and make sure you’re covered for whatever Mother Nature throws at you.

If your deductible sounds too good to be true, it probably is.

Our clients often share that they chose their insurance policy because it had a low deductible. They never realized that low rate meant they were getting an ACV policy, which insures your home for its components’ Actual Cash Value. That means if your roof is rated to last 20 years, and it’s 10 years old, you’re only insured for what the roof costs today. In other words, if that new roof cost you $10,000 ten years ago, you’re only insured for $5,000. After your $2,500 deductible, you only have $2,500 to fix your roof. If you have an ACV policy, you are more than likely throwing your premiums away. You’ll want to make sure you have an RCV, or Replacement Cost Value, policy. In the example above, an RCV policy would have made sure you got the full $10,000, minus the policy deductible, to replace your roof.

Your insurance agent works for you.

If you ever have questions about your policy, it’s your agent’s responsibility to answer them. You pay your insurance company a significant amount of money every single month to make sure they have your back if your home is damaged. So, if you’re not sure if something is covered, or you don’t know what something means, or have any other possible question, your agent has a duty to not only answer your question, but answer it honestly and fully.

It actually IS important to read your policy.

In addition to fully knowing your coverage, reading your insurance policy, and every policy change, diligently, will let you know what your insurance company hopes you don’t see. In those policy updates you receive every so often, your insurance company may change your coverage, your responsibilities, or any number of other things. Recently, Allstate changed the requirements for what homeowners have to do before filing a lawsuit. They made policy changes, which many homeowners didn’t read, that require the insured to submit proof of loss 91 days before they’re allowed to file the suit. If that proof of loss isn’t filed, Allstate can tell the court that the policy requirements weren’t followed and the suit must be dismissed.

Don’t let your insurance company take advantage of you. Do your research, get informed and hold your insurance company accountable. You’re paying them to protect you and your home. Make sure you get your money’s worth. Read more Insurance facts here.

Texas Property Insurance Lawyers

If your homeowner’s insurance carrier has denied your insurance claim, we can help. The experienced property insurance attorneys at Chad T. Wilson Law Firm have represented more than 1,000 clients in cases against insurance companies and aggressively protect the rights of insurance policyholders. Our consultations are free, and you owe us nothing until your case is won. Contact us today to see how we can help.

Two Missouri City homeowners are suing Allstate Vehicle and Property Insurance for fraud, negligent hiring and other claims. Our clients’ home suffered severe damage after a brutal storm. Allstate and its adjuster responded to their insurance claim with a substandard and improper inspection of the property, grossly undervaluing the cost of repairs and deliberately yielding an unrealistic amount to underpay coverage.

June 18, 2016 Storm

On June 18, 2016, a severe wind and hailstorm bombarded Fort Bend County, Texas, tearing through neighborhoods and destroying homes as it went. Our clients’ home suffered severe damage to the roof and exterior, as well as some rooms of the interior. After the storm, the homeowners quickly submitted a claim to Allstate, hoping their insurance company would help them get their life back in order.

Allstate Vehicle and Property Insurance Company Home Insurance Claim

Allstate assigned one of its adjusters to inspect the property and adjust the claim. The adjuster knowingly conducted a subpar investigation, refusing full coverage and estimating damages to total about $950. This ludicrous low-balling left our clients with no recovery to make repairs to their home.

The third-party expert hired after the insurance company’s fraudulent inspection found a litany of damages that were either conveniently absent or undervalued in Allstate’s estimate. The damage to our clients’ property is currently estimated at nearly $35,800.

Allstate’s adjuster intentionally undervalued our clients’ claims in order to maintain his job, misrepresenting the amount of damage in the hopes that our clients would simply rely on his expertise and fraudulent estimate as a true representation of the property’s damages.

Because of Allstate Vehicle and Property Insurance Company’s fraud, our clients were unable to complete any meaningful repairs to their home, which resulted in even more damage. They were forced to retain an attorney to pursue their claim for insurance benefits. On January 5, 2017, the Chad T. Wilson Law Firm filed suit, on behalf of our clients, against Allstate Vehicle and Property Insurance Company for fraud, breach of contract, negligence, gross negligence, negligent hiring and violations of the Texas Insurance Code and the Texas DTPA.

Texas Property Insurance Lawyers

If your homeowner insurance carrier has denied your insurance claim, we can help. The experienced property insurance attorneys at Chad T. Wilson Law Firm have represented more than 1,000 clients in cases against insurance companies and aggressively protect the rights of insurance policyholders. Our consultations are free, and you owe us nothing until your case is won. Contact us today to see how we can help.

Our client recently filed a lawsuit against Auto Club Indemnity Company (AAA) and its adjuster. The man’s home was seriously damaged in a hailstorm that bombarded Fort Bend County, Texas in June 2016. AAA and its adjuster conducted a substandard and improper inspection of our client’s property, grossly undervaluing the cost of repairs and deliberately yielding an unrealistic amount to underpay coverage.

June 4, 2016 Storm

On June 4, 2016, a severe storm tore through Missouri City, pelting our client’s home with hail and heavy rain. His roof and exterior, as well as several rooms inside the home, suffered serious damage. After the storm, our client quickly submitted a claim to AAA, hoping his insurance company would help him get his life back in order.

AAA Home Insurance Claim

AAA assigned one of its adjusters to inspect the property and adjust the claim. The adjuster knowingly conducted a subpar investigation, refusing full coverage and estimating damages to total about $3,200. After applying the deductible, this left our client without any recovery to make repairs to his home.

The third-party expert hired after the insurance company’s fraudulent inspection found a litany of damages that were either conveniently absent or undervalued in AAA’s estimate.

The damage to our client’s property is currently estimated at $36,100.

AAA’s adjuster intentionally undervalued our client’s claims in order to maintain his job. He misrepresented the amount of damage, hoping our client would simply rely on his expertise and fraudulent estimate as a true representation of the property’s damages.

Because of AAA’s fraud, our client could not complete any meaningful repairs to his home, resulting in even more damage. AAA’s inadequacies forced him to retain an attorney to pursue his claim for insurance benefits. On December 13, 2016, the Chad T. Wilson Law Firm filed suit, on behalf of our client, against Auto Club Indemnity Company for fraud, breach of contract, negligence, gross negligence, negligent hiring and violations of the Texas Insurance Code and the Texas DTPA.

Texas Property Insurance Lawyers

If your homeowner insurance carrier has denied your insurance claim, then we can help. The experienced attorneys at Chad T. Wilson Law Firm have represented more than 1,000 clients in cases against insurance companies. Our property insurance lawyers aggressively protect the rights of insurance policyholders. Our consultations are free, and you owe us nothing until your case is won. Contact us today to see how we can help.

Our client, a liquor store in Colorado, was recently forced to file a lawsuit against Auto-Owners Insurance Company and its adjusters. The store suffered extensive damages when a severe storm passed through Highlands Ranch, Colorado in September 2014. After the hail had passed, our client found themselves in a storm of Auto-Owner’s fraud and deceit.

September 29, 2014 Storm

On September 29, 2014, a severe wind and hailstorm bombarded Douglas County, Colorado, tearing through neighborhoods and destroying homes and businesses as it went. Our client became one of the storm’s many victims when the torrential hail damaged the property. After the storm, the store submitted a claim to Auto-Owners, hoping it would help it get back in business.

Auto-Owners Insurance Company Property Insurance Claim

Auto-Owners hired Monaco Adjusters, which then assigned an agent to adjust the claim. The adjusters estimated the damages to be around $31,000.

But, after applying depreciation and the policy deductible, the store received $13,300. Damages to the liquor store are currently estimated at more than $577,000. They received less than 3 percent of what they were owed based on their policy.

Due to Auto-Owners’s breach of contract, our client was unable to complete any meaningful repairs to the building. They were forced to retain an attorney to pursue their claim for insurance benefits. On September 29, 2016, the Chad T. Wilson Law Firm filed suit, on behalf of our client, against Auto-Owners Insurance Company for breach of contract, bad faith breach of insurance contract, and statuary bad faith.

Colorado Property Insurance Lawyers

If your homeowner insurance carrier has denied your insurance claim, we can help. The experienced property insurance attorneys at Chad T. Wilson Law Firm have represented more than 1,000 clients in cases against insurance companies and aggressively protect the rights of insurance policyholders. Our consultations are free, and you owe us nothing until your case is won. Contact us today to see how we can help.

State Farm Commits Fraud Against the Federal Government

The Supreme Court has spoken: State Farm committed fraud.

On Tuesday, the highest court in the land unanimously affirmed a jury verdict that State Farm Fire and Casualty Co. committed fraud against the federal government after Hurricane Katrina.

The case against State Farm began when sisters Cori and Kerry Rigsby witnessed the insurance giant shifting private wind insurance claims in Mississippi to federal flood insurance.

Flood insurance policies are backed by the federal government, so insurance companies are reimbursed for the flood policies they paid. Wind insurance, however, comes out of the insurance company’s pocket. State Farm took advantage of the massive flooding during the hurricane by lying about wind insurance claims so that they would get reimbursed by the federal government.

The sisters, who worked as independent adjusters for State Farm, filed suit, ultimately winning the case in 2013. The Court ordered State Farm to pay $750,000 in damages. Thirty percent of the award went to the Rigsbys, and the remaining went to the federal government.

After the Rigsbys won the case, other claims that State Farm defrauded the National Flood Insurance Program surfaced. In 2015, Mississippi filed its own civil fraud lawsuit against the insurance company. The state claimed it had paid as much as $522 million to State Farm policyholders after the company exploited its adjusters’ and engineers’ reports to benefit itself.

On Tuesday, the justices rejected State Farm’s claims that this whistleblower case be dismissed because its existence was leaked while it was supposed to be secret.

Justice Anthony Kennedy wrote the opinion for the Court upholding an appellate ruling that there is no requirement in federal law that the lawsuit be dismissed. The Supreme Court’s opinion was mostly limited to the provisions of the federal False Claims Act. The rule requires that the existence of whistleblower lawsuits remain secret for a minimum of 60 days.

It says a lot that State Farm chose to argue a technicality and not whether or not it actually committed fraud.

The Rigsbys’ lawyer at the time, Dickie Scruggs, emailed information to reporters that revealed the lawsuit’s existence before the case was public, Kennedy wrote.

The Associated Press, ABC News and The New York Times each published stories about fraud allegations, without specifically mentioning the sisters’ lawsuit.

If you would like to read the Supreme Court opinion in its entirety, the citation is: State Farm Fire and Casualty Company v. United States, 15-513.

MetLife Denies Hailstorm Damage

Our client recently filed a lawsuit against Metropolitan Lloyds Insurance Company and its adjusters. The man’s home was seriously damaged in a hailstorm that bombarded Montgomery County, Texas, in May 2016. MetLife and its adjusters conducted a substandard and improper inspection of our client’s property, grossly undervaluing the cost of repairs and deliberately yielding an unrealistic amount to underpay coverage.

May 29, 2016 Storm

On May 29, 2016, a severe hailstorm tore through Montgomery, pelting our client’s home with hail and heavy rain. His house suffered severe damage to the roof and exterior, as well as several rooms inside the home. After the hailstorm, our client quickly submitted a claim to MetLife, hoping his insurance company would help him get his life back in order.

MetLife Insurance Company Home Insurance Claim

MetLife assigned one of its adjusters to inspect the property and adjust the claim. The adjuster knowingly conducted a subpar investigation, refusing full coverage and estimating damages to total about $1,400. After the deductible, this left our client without the necessary recovery to make repairs to his home.

Unsatisfied with the denial, our client requested a re-inspection. MetLife’s second adjuster arbitrarily added a few more items to the first damage list, estimating damages to total $3,100. Again, this left our client with little recovery after the deductible.

Both adjusters’ assessments of the damages swayed heavily to favor MetLife. They found no damage to the roof, but they did find interior damages. These covered damages were determined to be the result of conveniently uncovered damages to the roof.

The third-party expert hired after the insurance company’s fraudulent inspection found a litany of damages that were either conveniently absent or undervalued in MetLife’s estimate.

The damage to our client’s property is currently estimated at $50,400.

MetLife’s adjusters intentionally undervalued our client’s claims in order to maintain their jobs. They misrepresented the amount of damage hoping our client would simply rely on their expertise and fraudulent estimate as a true representation of the property’s damages.

Because of MetLife’s fraud, our client could not complete any meaningful repairs to his home, resulting in even more damage. MetLife’s inadequacies forced him to retain an attorney to pursue his claim for insurance benefits. On December 1, 2016, the Chad T. Wilson Law Firm filed suit, on behalf of our client, against Metropolitan Lloyds Insurance Company for fraud, breach of contract, negligence, gross negligence, negligent hiring and violations of the Texas Insurance Code and the Texas DTPA.

Texas Property Insurance Lawyers

If your homeowner insurance carrier has denied your insurance claim, then we can help. The experienced attorneys at Chad T. Wilson Law Firm have represented more than 1,000 clients in cases against insurance companies. Our property insurance lawyers aggressively protect the rights of insurance policyholders. Our consultations are free, and you owe us nothing until your case is won. Contact us today to see how we can help.