Updating Your Home Insurance When You Renovate or Remodel

When you update your Austin, TX home by either remodeling or renovating it, you’ll also need to update your home insurance with TAB Insurance Agency LLC.

Actually, you need to update your policy twice. First, you add construction insurance by endorsement or as a separate policy. That covers the workers who enter your home for liability. They also need to carry insurance, but their insurance covers their liability. Some of these policies also cover shoddy work, but not all, so ask us about coverage first.

Once they’ve finished the work and your home undergoes inspection from the code enforcement office in your city, you’ll update your primary policy. It would help if you covered the changes made to your home. This second policy change insures your home at its new appraisal level.

Here’s how it works.

You purchased your home for a specific price and insured it at that value. When you remodel or renovate, you must re-insure the house for greater value. Otherwise, if a fire or other peril occurs, you’d only get reimbursed for the value of the home as you purchased it. Imagine losing the $25,000 you paid for a new roof and a remodeled kitchen! That’s exactly what would happen.

On the other hand, when you insure the home at the newly appraised value, you ensure that your insurance fully covers the cost of the home’s replacement.

Contact Us Today

TAB Insurance Agency LLC can help you with the temporary construction insurance and the updated coverage for your renovated or remodeled Austin, TX home. We serve the Austin, TX metropolitan area, so you can purchase coverage from us if you reside in Cedar Park, Round Rock, or Leander. Call us today.

Who needs home insurance in Austin?

Being a property owner can be a great investment for anyone in the Austin, TX area. When you are a property owner, you will enjoy having a stable place to live and could benefit from price appreciation in the long run. If you choose to purchase a home when you are in this part of Texas, you will need to get the right insurance for it. There are various reasons why someone will need to get home insurance here. 

Those with a Mortgage

A situation when you will need to carry home insurance is when you have a mortgage. It is very common for people all over the Austin area to take out mortgage financing when they buy a home. If you choose to take out a mortgage, you are obligated to follow all terms. This can include carrying the proper amount of home insurance. In many cases, a lender will require you to establish escrow accounts to ensure you pay your insurance on time. 

Those in a Home Association

If your Texas home is located in a community with a larger home association, you may be required to carry home insurance. Home associations frequently will have required levels of insurance that all owners must carry. You may be required to provide evidence of insurance coverage at all times to ensure you remain appropriately covered. 

Owning a home can be a great option for people in the Austin, TX area. If you are assessing your insurance needs and options when you are here, it would be helpful to call TAB Insurance Agency LLC. The team with TAB Insurance Agency LLC understands the need to get this coverage and they can help you build a proper plan. This will ensure you and your home are properly covered. 

When you should review your home insurance policy

Home insurance is what lets you sleep at night when you are a homeowner. So many things can go wrong and when you are covered with a good home insurance policy it gives you peace of mind. Home insurance can’t stop bad things from happening, but if they do, you know you won’t be facing them alone. In Austin, TX,  you can count on TAB Insurance Agency LLC to be there for you. 

Home insurance usually renews once a year. At the time that your policy renews, you should take a good look at your coverage to make sure that it is giving you what you need in the way of protection. On the front of your policy is the declaration page and this is a summary of all your coverage amounts. It shows your deductible and any endorsements you have added. All the amounts are right in front of you, making it easy to check your liability coverage, your content, and structure coverage. 

When your children become teenagers, it is a good time to think about looking at your liability coverage. If you add any risky things to your life like a dog,  pool, or trampoline, you should also take a good look at how much liability coverage you have. You may want to add an umbrella policy as well. 

If you have done major renovations, especially ones that added square footage such as finishing a basement or an attic or building an addition, you need to make sure your insurance agent is aware that your square footage has changed and your replacement amount has increased. 

Some upgrades you do to your home can save you money, so if you have added a security system, wired smoke detectors, or a new roof, let your agent know. 

Contact TAB Insurance Agency LLC in Austin, TX when you are ready for a new home insurance quote. 

Home Insurance and You

Your home is your safe haven, your place where you can relax, and where you should feel safe. Therefore, it is really important your home insurance covers as much as possible. You might want to check if your home insurance is still comprehensive enough, or just check in with us for your regular review.

TAB Insurance Agency LLC in Austin, TX is proud to offer home insurance to homeowners. Our agents would be so happy to discuss quotes with you. These quotes are from several providers, so you have different options available to you. 

What home insurance coverage do you want

Your wants and needs depend on a lot of things, such as the neighborhood you live in or the type of home you own. However, in general, most homes have a few things in common, one of them being that homeowners always want what’s best for their homes. Some things to consider in terms of coverage under home insurance:

  • You should want coverage for fires and flooding, especially in particular areas with a higher risk of this. 
  • Moving costs if something needs repairing in your house. If your house suddenly becomes inhabitable and you need to cover costs to stay elsewhere, you can claim on your insurance to make this a lot less of a financial issue. 
  • You should consider liability insurance in the case that someone who enters your home gets hurt and requires medical attention. 

TAB Insurance Agency LLC in Austin, TX looks forward to helping you work through our home insurance quotes. Call one of our agents today to get home insurance quotes. You can reach us or request an online quote. 

Which home insurance coverages should you focus on if you have children?

Which home insurance coverages should you focus on if you have children?

You must have done thorough research when buying your Austin, TX home. Double that if you are getting a home insurance policy where children are involved. Insurance experts at TAB Insurance Agency LLC recommend enquiring about coverages that help keep your home and your children safe. Luckily, you don’t have to dig much because we have listed them below.

Personal liability coverage

One of the most important coverages for a homeowner with children is liability coverage. Lawsuits have become quite common in America and can quickly empty your bank account if you are not careful. If you have teenagers in your home, you may want to increase the coverage limit to cover bodily injury, property damage, and lawsuits resulting in their actions.

Dwelling protection

This coverage rebuilds your home if damaged or destroyed by a fire, hail, lightning, or any other disaster listed in your policy. Most Austin TX policies also cover detached structures like the gazebo, garage, or any other structure.

Personal property coverage

Your furniture, appliances, clothes, and electronics are all covered under the personal belongings coverage. In case of a fire or burglary, your children will get the peace of mind that the policy will replace their items, and they will continue living as before. To get the most out of this coverage, you may need to conduct a home inventory.

Additional living expenses

The last thing you want is your children spending a night out in the cold after a disaster took down your home. Home insurance offers you an opportunity to settle down as fast as possible, even after a terrible incident that rendered you homeless.

As a parent, it’s always prudent to find ways to cut costs by getting the best coverages to safeguard your finances. At TAB Insurance Agency LLC, we are all about finding ways to protect what matters to you the most. Call us for a deal.

What You Need to Know About Home Insurance in the New Year

The New Year is a great time to start thinking about our goals and getting things in order. Your insurance policies are one of the most important ways you can protect your family, your assets, and your investments and one of the most important types of insurance is your home insurance. At TAB Insurance Agency LLC, serving Austin, TX, we want to help you make the best possible insurance choices. The only way you can do that is by having the best insurance information available to you. Keep reading to find out what you need to know about home owner’s insurance in the New Year. 

Why Is Home Owner’s Insurance Important?

In the past home owner’s insurance was very much an optional type of insurance to carry. In today’s economy, however, the homeowner’s insurance is a vital part of a family’s financial security. You have invested a lot of time and money into your house. In addition to this, your house is where you and your family gather, spend time, and make memories. Without insurance, your family could be left vulnerable both financially and emotionally in the event that your home is seriously damaged or lost. Home owner’s insurance helps to protect against this possibility. 

What Are Some Things I Should Consider in the New Year?

This New Year you should take some time to evaluate if your current home owner’s policy is meeting your family’s needs. Have improvements been made to the home which may have increased its value? Are your personal property evaluations accurate or should they be updated? Have you changed anything to your home or property that may have increased liability risks? These are all important questions to ask in order to make sure your policy is sufficient for your needs in the New Year. 

If you would like to learn more about home insurance, please contact our staff at TAB Insurance Agency LLC, serving Austin, TX. 

Three details you don’t want to overlook when you purchase home insurance

Having a good home insurance policy that you can rely on if your home experiences damage is essential for homeowners. We provide health insurance in Austin, TX at TAB Insurance Agency LLC.

If you want to get the best possible home insurance for your needs, make sure you don’t overlook the following three key home insurance policy details. 

The amount of your deductible

The deductible on your policy is an important amount to be aware of. Remember that you’re going to have to pay this amount with your own savings.

The deductible amount on your policy shouldn’t be excessively high. You don’t want to pay your deductible to create a financial burden. Make sure that you have an emergency fund available with at least as much as your deductible amount in it. 

Whether you have a replacement cost or actual cash value policy

Ideally, you want to have a replacement cost policy. This type of policy ensures that your insurance coverage will pay to completely rebuild your home if it is destroyed. 

If you have an actual cash value policy, you may get less back on claims because any depreciation in your home’s value will be factored into the equation. 

Policy limits in comparison to the value of your possessions

The more valuable your home and possessions are, the more coverage you should have. Compare the value of your possessions to the amount of coverage you have. If your home and possessions are worth way more than your coverage limits, you should consider investing in more coverage. 

Would you like to explore the home insurance options available at TAB Insurance Agency LLC? If you’re a homeowner in Austin, TX who’s in need of coverage, let us know. We’ll help you find the right policy for your situation. 

FAQs About Texas Home Insurance

It is normal to have questions when purchasing a home insurance policy. After all, you want to make sure you are protected and each state can be different when it comes to coverage. At TAB Insurance Agency, LLC, we want to make purchasing an insurance policy simple and easy to understand for all of our customers in Frisco, TX and the surrounding areas. Here are some common questions about Texas home insurance.

Frequently Asked Questions About Texas Home Insurance

  • Am I legally required to have home insurance in the state of Texas? No, not by any laws. However, you are likely required to keep a homeowner’s insurance policy to get a mortgage on your home, to begin with. 
  • What does home insurance cover? The answer depends on the specific policy. There are many levels of homeowner’s insurance you can purchase and your policy should have the coverage limits clearly written. You should know that homeowner’s insurance does not cover natural disaster floods, mold, and pest control in most cases. Discuss your options with your insurance company. 
  • How do I know how much home owner’s insurance I need, and what coverage to add? Deciding if you want to add certain coverage like flood or wind is a personal choice, but we can say that additional coverage is typically well priced, easy to pay with your initial coverage, and worthy of the investment. 

Call us at the TAB Insurance Agency, LLC if you are looking to purchase a new home insurance policy in Frisco, TX or if you want to upgrade your current policy. We take pride in protecting our clients with insurance coverage that is easy to purchase, and easy to read. Call today. 

3 Maintenance Tips to Keep Your Texas Roof in Good Condition

Homeowners in Austin and Frisco, TX have to make significant roof repairs from time to time due to the weather and climate in the area. With the temperature and direct sunlight that Texas gets regularly, roof damage can be common and expensive if it is not maintained correctly. At TAB Insurance Agency, LLC, we have three maintenance tips for our customers to help keep their roof in good condition. 

How are your shingles?

It is critical to do an annual roof inspection. Excessive sunlight over time can cause damage to your shingles. Before the weather starts to get too warm, it is best to give your shingles a thorough inspection and replace any that are damaged. Look for cracks or decayed shingles that are serving no protection for your home and have them replaced.

Include a Roof Coating

In order to directly combat the UV rays coming in from the sun daily, you can have a roofing contractor go and complete a roof coating service. This system is applied once every 10 or 15 years and is able to redirect the UV Rays and go directly over your original roof. 

Change your roof

If the asphalt shingles are too hot and continually damaged by the sun, then it may be time to consider a different material for your roof. Choosing something like tile that is much cooler in temperature will also shift the heat from the UV rays from your roof, decreasing the interior temperature of your home and the damage done to your roof. 

Get coverage for your Austin or Frisco, TX home today!

If you need to update your home insurance today, contact our agents at TAB Insurance Agency, LLC for more information about our home insurance options.

How to Know What Add-ons You Need for Your Home Insurance

Are you interested to know what add-ons to your home insurance you should have? There are some considerations you’ll need to make regarding your specific situation. Here are a few extras that likely won’t be a part of your basic home insurance coverage:

  • Mold damage
  • Other structures that are not attached to the house, including fences, sheds, or a separate garage
  • Personal belongings beyond a certain value also are not typically covered by the basic insurance

You’ll need to ask your agent to increase coverage for the above things, so that you won’t be faced with having to pay a monumental amount in the event of a natural disaster, flooding from burst pipes, or some other issue.

Wear and Tear

This is something that the average homeowner should include in their home insurance policy. However, this is an exclusion that most people are not aware of existing. For instance, home insurance will not cover issues of old age, such as damage from leaky pipes or a roof that is in a diminished condition. Even though a warranty may cover roof or plumbing system replacement, the warranty may be expired by the time problems occur. Many insurance policies will take care of paying for the resulting damage.

How to Know When to Add On

Chances are, if you have assets besides your home or you live in an older home, you’ll want some add-ons.

You can discuss what structures, expensive belongings, and general concerns you have for your property with a qualified insurance agent. It’s in your best interest to reach out to TAB Insurance Agency LLC if you’re in the Austin, TX area. A professional can evaluate what you have and how best to proceed in order to supply you with the best home insurance coverage possible.