Home · A cheaper premium is not the same policy
Compare the same Coverage A, the same hail deductible, and the same roof settlement. A higher deductible only helps if you can pay it.
Coverage A is rebuild cost, not the sale price. A quote that looks cheaper because it cut the dwelling limit can fail the coinsurance test on a partial loss. Many HO-3 forms pay replacement cost on the house only if you insure to about 80 percent of rebuild cost. If the rebuild is $400,000, 80 percent is $320,000. Carry $240,000 and an $80,000 repair can pay $60,000 before the deductible. That is example math. A percentage hail deductible is a percent of Coverage A. Two percent of $450,000 is $9,000, also an example. Raising that percent lowers the premium and raises the check you write after a storm.
Shop the match: the Texas shopping guide, how to size the limit, and what actually lowers the premium. The parts you might be deleting: coverage and what sits outside the basic form. A bundle is a credit, not a second policy: bundling in Texas. The hub: Texas homeowners.
