Homeowners Insurance Myths

by Administrator 28. March 2018 09:19

There are many myths and misconceptions around the topic of home insurance. These myths if not cleared can result in unwanted costs in the form of overpaying for policies and not getting the right coverage. Buying a home insurance policy is the best way of protecting your home from natural disasters and factors like theft, floods etc. The following is a list of common myths surrounding home insurance.

  1. Home Insurance Is Limited To My House Only - A home insurance policy covers your house, its contents, living expenses for an inhabitable house and personal liability exposures.
  2. Covers The Market Value Of A House - A home insurance covers the rebuilding/replacement value of a house and not its market value.
  3. Insurance For Older And Inexpensive Homes Is Cheaper - The home insurance of older homes is in fact more expensive as the chances of certain home systems to fail are higher.
  4. Home Insurance Covers Damage By Termites And Insects - Most home insurance policies generally do not cover damages by termites and insects. You will have to inquire whether the policy you have chosen covers these factors.
  5. A Home Insurance Covers The Costs Of Intentional Damage - No, it does not cover costs that ensue due to injuries or damages caused by an act which you initiated, such as a fight with someone. It only covers damage due to accidental and unintentional injury caused to someone on your property.
  6. Home Insurance Covers Costs On Upgrading My House - A home insurance does not cover any cost associated with maintaining your house. It also does not cover damages caused to the house due to poor maintenance such as mold. It can only compensate you for expenses incurred in rebuilding it in case of damage due to an unforeseen event such as fire or theft.
  7. Creating An Inventory List Of Your Possessions Is A Waste Of Time  - Homeowners insurance provides for personal property insurance and covers for the possessions within the house. So, it is important to create an inventory of all the valuable possessions in your home so that you can file a claim in case a loss arises.


For affordable home insurance in Killeen, TX, contact Shawn Camp Insurance Agency, Inc. We are located at 2705 E. Stan Schlueter Loop, Suite 101, Killeen, Texas 76542. You can also call us at (254) 526 – 0535.

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Coverage Included In Homeowner's Insurance

by Administrator 27. February 2018 07:00

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Why Is Home Insurance Important

by Administrator 21. February 2018 08:39

A type of property insurance, home insurance covers your house from accidents, damages and theft. They are usually bought for a stipulated tenure at the end of which the tenure has to be renewed.  This could be anywhere from 1 year to 5 years. Considering that a house is one of the most treasured and costliest asset for many, getting a home insurance is crucial. Following are some reasons for which insuring a home is important:

• Protection From Liabilities

A home insurance policy will protect you from liabilities resulting from personal injuries, damage to the property of guests or third parties who might have been in the house. This type of insurance also covers you and your family members from losses and damages.

• Temporary Living Expenses

If the insured house requires renovation or reconstruction due to an unforeseen damage to the structure, you might have to move out to another house for some time. Certain home insurance policies will cover any expenses that you incur while doing so. Your expenses in the form of rent you pay will be covered by the insurance company until the former house is made livable again.

• Coverage Against Natural And Man-Made Calamities

Home insurance policies provide coverage against losses caused by natural calamities e.g. floods, storms, earthquakes etc. They also cover losses due to man-made acts such as theft, vandalism, riots etc. In case of such events, the amount of compensation from an insurance company helps you recover from the loss and even rebuild your house.

• Compensation For Loss Or Damage To Valuable Assets And Precious Belongings
If you have valuable and expensive belongings such as important documents, precious jewelry, furniture, clothing etc., a home insurance also covers losses or damages against them. The only pre-condition is that at the time of damage, the articles should have been in the insured house. Items like artwork, antiques and furs might require a rider on the policy to be included in the coverage.

• Bank Preference
Most of the banks prefer those with home insurance for sanctioning loans. For some banks, it is a major eligibility criterion. So if you want to figure high on the priority list of banks for a loan, getting your home insured is a sure way to do so.

• Mortgage Contracts
If you are a home owner with a mortgage on your home, it is better to take a home insurance policy. This is because the lender has a monetary stake in the home. Getting the home insured protects you and the lender form any losses and liabilities.

For affordable home insurance in Killeen, TX, contact Shawn Camp Insurance Agency, Inc. We are located at 2705 E. Stan Schlueter Loop, Suite 101, Killeen, Texas 76542. You can also call us at (254) 526 – 0535.

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Why Do You Need Homeowners Insurance?

by Administrator 20. December 2017 11:25

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Buy The Best Home Insurance Policy To Stay Protected

by Administrator 11. December 2017 14:51

One of the major milestones in life is buying a home. It takes a lot of sweat and money to buy a home. Getting a home insurance policy is the best way of protecting this major lifetime investment. A home insurance protects you financially by covering any damages that might occur to your house due to unforeseen damages. It is important to educate oneself on how to opt for a home insurance that will give an adequate coverage.

What Does A Good Insurance Policy Cover?   

Damage by factors such as:

  • An insurance policy should cover your home and the possessions in it, which are damaged by natural disasters such as hurricanes, lightning, hail and volcanic eruptions.
  • In addition to this, the insurance should cover damage by man-made factors like theft, riots, explosions, and civil commotions.
  • Unforeseen flooding due to plumbing issues, HVAC, or a malfunctioning fire protection sprinkler system.
  • Termite inflicted damage to the house.
  • Breakage of glass.
  • Falling objects.
  • Snow, ice and sleet.

Expensive jewelry, furs and antiques.
Temporary living expenses e.g. hotel bills and meals etc. due to damage to one’s home.
Expenses arising due to injuries or accidents to anybody on your property.

Important Factors To Consider Before Finalizing A Home Insurance Contract

Compare Coverage
You will have to do some homework before finalizing a home insurance policy. Compare the coverage that each company offers. Look whether you need to purchase additional insurance or not. Compare the price. Go through customer reviews for better insight into the working and credibility of an insurance company. Your aim should not be to get the cheapest insurance. Instead it should be to get maximum value for your money.

Adequate Coverage
While purchasing a home insurance policy, look for one that gives you the coverage you need. Read the policy carefully to know what you will be covered against.

Terms Of Home Insurance Policies
Understanding some important terms that are used in home insurance policies is essential to know exactly what the policy comprises of. Terms like deductible, liability coverage, premium, replacement cost, personal property, actual cash value, sub-limits, riders etc. are frequently used in home insurance policies. Knowing what these terms mean, preps you to choose an insurance policy that works best for your home.

For affordable home insurance in Killeen, TX, contact Shawn Camp Insurance Agency, Inc. We are located at 2705 E. Stan Schlueter Loop, Suite 101, Killeen, Texas 76542. You can also call us at (254) 526 – 0535.

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Homeowners Insurance: Questions To Ask Your Insurance Agent

by Administrator 26. October 2016 06:17

Homeowners insurance provides financial security to an individual in case of unforeseen situations such as theft, fire, water damage, etc. Before applying for homeowner’s insurance, it is essential to enlighten yourself regarding the coverages you require and if the selected insurance agency provide them.  For this, you may make a list of questions that would be asking your insurance agent.

Listed below are some questions that can help you choose the right insurance company and make sure your hard earned is properly utilized.

Is the Company Financially Stable?

The insurance company you are opting for must be renowned, licensed and offer extensive coverage options. Hence, you must ask your insurance agent about the firm, its reputation, experience and other related information. You may also consider visiting the website to read the customer reviews and also research thoroughly on the services provided. The financial stability and soundness of an insurance company can be checked via NAIC (National Association of Insurance Commissioners).

What are my monthly premiums?

Premium is the amount paid each month after purchasing the insurance. You need to have a clear idea of the amount you need to pay as monthly premiums. Note that the amount should not make a hole in your pocket. You can ask the insurance agent about various insurance companies in your state and how much premiums they require you to pay. Another way is to visit an online insurance agency and request quotes of various insurance plans. This helps you to choose an affordable as well as an up to date insurance plan.

What about the rebuilding cost?

Your homeowner’s policy should cover the cost of rebuilding your home in the event of a total loss. This includes the construction materials used at the time of construction. Partial or total damages caused by fire, hurricane, lightning or any other disaster listed in your policy can be recovered. Flood and earthquake damages are covered separately as these are excluded in standard homeowner’s insurance policies. You should ask your insurance agent whether the company would cover these costs.

Personal property loss?

The insurance should not only recover the building cost but also the cost of replacing all personal possessions (furniture, appliances, clothing etc.) in the event of a theft or any other insured disaster. Most companies provide personal property coverage equal to about 50 to 70 percent of the amount of insurance you have on the structure of your building. Your agent would screen the different companies and help you decide the best.

Are combined packages available?

Many companies offer discount rates if you carry auto, home and life insurance policies with them. If you have a car, then you need an auto insurance anyway. Similarly, life insurance is a must for people today. Grouping these policies will give you the added advantage of securing insurance plans at a reasonable cost. You can ask your agent to let you know about the ongoing discount rates in different companies (if any) and then decide the plan.

Does my policy cover market value or replacement value?

Before deciding the insurance plan, you need to know whether the policy covers the full value of your house in event of full destruction or just the replacement cost. There is a difference between the market and the replacement value. Market value means you are paid the market price of your house if the home is completely destroyed. Replacement value means you are paid whatever it costs to replace it. If it costs more to rebuild your exact home than it is currently worth, then the market value is usually a better buy.

What Is the Procedure for Filing a Claim?

Filing the claim is a very cumbersome process in an insurance plan. It requires notifying the company and filing up the necessary claim forms sent to you. You need to fill up the form timely in order to avoid any delays. Just be patient and cooperate with the company to get back your money. Talk to your agent and understand all the essential rules and regulations to enjoy a hassle-free claim filing experience.

So these are some important questions you certainly must put up to your agent and whose answers you must know before you think about providing protection to your house.

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Benefits Of Insuring Your Home In Killeen

by Administrator 19. August 2016 13:46

An insurance policy is a must for every homeowner in Killeen, TX. It is not merely one of the eligibility criterions for getting a home loan, but also protects you against many unexpected financial encumbrances in the long run. Incidences like hailstorm, vandalism, theft, riots etc. can damage your home’s structure and your personal belongings. Insurance coverage can a help you cover the repair and replacement costs, while avoiding any financial burden on your pocket.

Listed below are some benefits of insuring your home in Killeen:

Protects Your Investment

Getting a homeowners insurance coverage gives you the peace of mind that your house is protected against unforeseen natural and manmade incidents. Your home is one of the major investments of your lifetime and repairing or renovating it can take up a significant portion of your total earnings. Homeowners insurance can save you from these financial liabilities that you may not be prepared for.

Covers Your Valuables

Besides the overall structure, there are many other valuable items in your home that may be quite expensive to repair or replace. These may include furniture, electronic appliances, jewelry, antiques etc. Water pipe burst, termite infestation, robbery, fire and other such instances can damage your prized possessions stored inside the house. If you have homeowners insurance, you can recuperate the costs of replacing these items up to the coverage limits of the policy. Certain insurance policies also cover your belongings if they are not in the house, such as, your laptop gets stolen on your way to work.

Safeguards Against Legal Liabilities

If guest gets injured on your property or our pet bites someone, you may be held liable for the victim’s financial losses, provided that the accident occurred due to your negligence. When you have homeowners insurance, you are protected against such types of legal liabilities. The policy will pay for the medical bills of the injured person as well as the costs of your legal defense and, in the event of a lawsuit.

Timely Recovery

Insurance payouts allow you to initiate the home repair or reconstruction process much quickly so that you can get back to your routine life. It will also the cover your costs of living till the time your home is rebuilt. These may include the expenses incurred for accommodation, transportation, food etc.

Contact Shawn Camp Insurance Agency, Inc. to buy homeowners insurance in Killeen, TX. We offer customizable insurance plans and coverage options to fully protect your home. For more information, you can call us at (254) 526 – 0535.

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