Buying homeowners insurance in Clear Lake, League City, or anywhere along the Texas Bay Area has gotten harder since Hurricane Ike. Either carriers are unwilling to take the risk in this area, or the price has climbed substantially.
Much of that traces back to two changes in how insurers price homeowners coverage on the Gulf Coast.
Roof age matters more than it used to
The age and condition of your roof now drive both eligibility and price. Some carriers will decline an older roof outright, and most offer significant discounts for a new one. The reasoning is straightforward: a roof that stays on during a storm prevents the interior and contents damage that makes a claim expensive.
Distance to the coastline
The second major factor is how far your home sits from the coast. Most carriers define the coastline as the nearest large body of water, which here means Galveston Bay.
Know the difference between HOA and HOB policies
While you are shopping, pay attention to which policy form you are being quoted, because the difference is significant.
An HOA policy covers named perils. It lists exactly what is covered, such as fire, lightning, windstorm, hurricane, and hail. If your loss is not on that list, it is not covered. This is sometimes called a limited benefit policy.
An HOB policy is all risk coverage. Instead of naming what is covered, it names the exclusions, such as flooding, foundation movement, and termites. That makes an HOB the stronger of the two.
The bottom line is to know whether the policy in front of you is named peril or all risk before you compare prices. Two quotes can look similar and cover very different things.
Optional coverages worth asking about
A standard policy can be extended with add-ons including glass coverage, mold coverage, and sewer backup. Whether any of them matter depends on your home and how you use it, and that is worth a conversation rather than a checkbox.
Talk it through with a local agent
At Paula Smith Insurance, we are glad to be a resource while you work through the homeowners market in the Clear Lake and League City area and figure out how best to protect your most valuable asset. Email Paula@PaulaSmithInsurance.com or call (281) 488-8880 with any questions, or request a free, no-obligation quote.
We also write flood and windstorm coverage, auto and motorcycle, recreational vehicles including boats and RVs, plus life and business insurance.