HOMEOWNERS & TOWNHOMES
Homeowners and townhome insurance covers your personal home for interior and exterior damages, liabilities, and personal contents. Your premium is calculated based on reconstruction cost – how much it would cost to rebuild your home. We use information like your zip code, square footage, number of bedrooms and bathrooms, flooring, and updates or renovations to find the value.
All Paine Insurance Group policies are based on replacement costs, not actual cash value. Replacement cost doesn’t include depreciation, which means we will replace your loss with the newer version.
Your policy will state one deductible per occurrence, or claim. There are 3 different deductible clauses for homeowners insurance:
1. Wind & Hail/Tornado: If your cars are bundled, then we can quote this deductible at 1%. If you don’t include your car, then your deductible will be 2% or higher.
2. Hurricane: We don’t really have those in North Texas.
3. All Other Perils – (Everything Except Flood): You can choose a % or $ amount deductible.
ASK YOUR AGENT ABOUT THE FOLLOWING COVERAGES
Separate structures covers your fence, shed, deck, outdoor living area, pergolas, or any other additional structures not connected to the slab.
Personal property coverage is for everything that you take into your home like furniture, clothes, and everything in between. If you were to flip your home upside down, everything that falls is considered your personal property.
Roof coverage replaces or repairs your roof after hail and wind damage, up to 100% replacement value for homes newer than 7 years old.
LOSS OF USE
Loss of use coverage goes towards your cost of living in the event you have to leave your home for repairs to be made. Hotel, meals, and extra living expenses up to 12 months are included, with the option to increase to 24 months.
Personal liability insures you against lawsuits for damages or injuries you or your family may cause on or off your property. From swimming pool accidents to playground fights, your legal fees are covered under your personal liability.
Medical payments cover any medical expenses incurred by other people on your property. If your water hose is laying on the sidewalk and your neighbor trips, falls, and breaks his leg, then your medical payments coverage will cover his medical expenses.
Building ordinance insurance is for making sure all repairs related to a loss are up to code, like electrical wires and plumbing.
METAL MARRING COVERAGE
Metal marring coverage replaces all soft metal components on your roof like gutters, chimney caps, and exhaust fans after a hail storm, even if it’s still functional and cosmetic damage only.
CONCRETE & TUNNELING COVERAGE
Concrete & tunneling coverage is for slab leaks when a water pipe bursts or similar. Slab coverage is not for foundation damage from natural wear and tear.
Sewer & Drain
Limited Water (Interior)
You don’t have to be purchasing a new home, refinancing, or buying a new car to get an insurance quote.