HIGH VALUE HOMEOWNERS INSURANCE

Homeowners insurance is an important part of owning a home.  If you want to find a better deal, you can switch homeowners insurance companies at any time. You don’t have to wait until it’s time to renew your policy.   Dallas, TX and North Texas is a very complex market meaning we get a lot of weather from hail, tornados and now freezing.  We make sure that you are prepared.
Think of shopping for home insurance the same way that you look at financing a car.  You find the car that you want, (in this case your home) and now it is time to find the financing.  Your first loan may have been through Chase Bank, then a couple of years later Bank of America was better and now US Bank or a local credit union may have the best rate for you.   Why?  Because once a bank takes on a certain number of loans, they have a financial risk involved if those loans default.  Insurance companies take on a financial risk in that they will have to pay claims.

Shopping for Home insurance is not any different.  Every 2-3 years it makes sense to shop your insurance company for competitive rates.  Each insurance company takes on a certain amount of business each year, which they call taking on risk.  Once an insurance company takes on a certain amount of risk, they will stop incentivizing their rates and may start raising rates to current customers at the renewal period.
Hillco Insurance looks at this as an opportunity to shop the other insurance carriers and find the one that is offering the incentives to become a new customer.   Hillco Insurance Agency earn more clients each year due to this process than any other.   

An independent insurance agent is able to get multiple offers for your homeowners insurance and be able to provide you with several options.

Give us a call to discuss your options at (214)-960-0873

Having the best home insurance coverage is important.   We work with insurance companies that meets your expectations, with the number one goal being that you do not have any surprises.
Here are some reasons you may want to consider changing homeowners insurance companies:

• Not enough coverage.  This can be the cost to  replace your home or that you do not have a guaranteed replacement cost.
• Premiums have increased
• You purchased a new home and need insurance coverage for the new home.
• Lack of relationship with your agent.  Your agent works for you and should help assisting with any questions before calling the insurance company.
• Your current insurance company doesn't specialize in your type of home. 

Changing home insurance companies is easy, and an independent insurance agent will be able to help you every step of the way.

At Hillco Insurance, we don't just quote insurance.  Before we get started, our team does a risk analysis to determine what risks your home may have.  So, before we begin your search for a new homeowners insurance company,  we read your current policy’s insurance contract, not just the declarations page. 

A couple of things to look at are going to be your homes replacement cost coverage and making sure that it is inline with the current market.  A second item to look at will be your deductibles, since this is the amount that you will be required to pay in the event of a covered loss.

As we review your existing homeowners insurance policy, we look for potential gaps in coverage. You may find you need more coverage, not less, even if you are looking for ways to save.  You also may find that you are over insured in areas, where you will be able to reduce coverage which will save you money.

When we are ready to shop your homeowners insurance quotes, we will need to gather specific information. To be able to accurately shop for you, we will need:

• Date of birth 
• Adequate replacement cost, not market value
• Year the home was built
• How old your roof is
• Safety features that you have installed
• Certain details can help such as age of hot water heaters and a/c & heating systems.
• Upgrades that you have done to the home.

Most insurance companies will offer you multi-policy discounts for purchasing more than just homeowners insurance.  These multi-policy discounts can be car insurance, jewelry & art insurance and an umbrella policy.  We shop all of this for you to see what is the best value.
From here, we package up your insurance and submit it to different carriers to begin the quoting phase.  Hillco Insurance does all of this for you to save you time.   Once completed, we analyze the quotes and review them side by side with you presenting all of your options.

If you would like to take advantage of having an agent work on your behalf, we would be happy to have an initial conversation to make sure that we can be of value to you. 

Give us a call to discuss your options at (214)-960-0873

If you have a mortgage on your home, we will contact your lender to inform them of your homeowners insurance policy and the changes that have been made.  Most lenders require home insurance, and keeping the lender up to date will help you avoid complications.

For example, if your homeowners insurance is paid through an escrow account, and your lender manages that account, they’ll need to know where to send payment. 

-CHUBB

-PURE

-AIG

-BERKLEY ONE

-VAULT

-NATIONWIDE PRIVATE CLIENT

-TRAVELERS

-ENCOMPASS

Hillco Insurance assumes that your home is one of your biggest assets and we treat it as helping you build  wealth.  Your home is more than just a house, in many cases is one of your largest investments.  Homeowners insurance helps to protect you and your home against covered losses such as wind, hail, fire, lighting, vandalism and theft.  We specialize in high value home insurance, which consists of homes that are valued at $1M and above.  Not all homeowners insurance policies are created the same, that is why we are here to help compare what you currently have (vs) what is available to you in the market.

The purpose of Homeowners insurance is to help cover the costs to repair or replace your home and your things in the event they are damaged by covered losses such as fire, theft and weather. Homeowners insurance is an important way to help ensure that you will be able to rebuild your home and replace the items in it should an unforeseen event strike. Homeowners insurance can help protect you against the costs of property damage or destruction, and can also provide help to cover the costs of liability exposures if, for example, someone is injured on your property.

High-value home insurance refers to  a type of homeowners insurance that is designed for homes with high market values. A high-value home is defined as property worth $750,000 or more.  The carriers that offer this home insurance understand that the needs of high value homeowners is a little bit different than the standard market.

Homes that classify into this category include homes with special architectural and design elements. They may simply be a large home with a lot of square feet. This type of insurance is one of the most comprehensive available to you.  High-value insurance provides much better coverage than a standard homeowners insurance policy.  High-Touch Insurance will compare this coverage for you during our FREE full review.

Most standard homeowners insurance policy's (also known as an HO3 policy) generally cover your home and your personal belongings and helps cover the costs of losses that result from covered incidents like:

• Fire
• Windstorms
• Hail
• Lightning
• Vandalism
• Theft
• Weight of ice, snow, or sleet
• Freezing of plumbing, heating, air conditioning, or other household systems

Damage caused by floods and earthquakes is rarely covered by basic homeowner insurance policies. Optional homeowner insurance coverages and policies may be available to cover damage due to such additional threats. Check with your insurance professional for help determining what coverage may be best for your specific needs.

Replacement cost 

Replacement cost is your home’s coverage amount that is based on the actual amount that it would cost to rebuild your home as is, with the same level of detail and finishes. It takes into account costs at the time of a loss, such as debris removal, materials, labor, architect and designer fees, lighting, and custom design finishes.

Guaranteed or Extended Replacement cost 

After a covered loss insurers will pay to have your home repaired or rebuilt to its original condition-even if the cost exceeds your policy limit. We will even pay for upgrades made necessary by the loss due to modern building codes.  This is available through our carriers such as Chubb, AIG, Pure, Berkley One, Vault & Nationwide Private Client.

Cash settlement  

In the event of a covered total loss, if you decide not to rebuild or to rebuild at another location, some of our partners offer a cash settlement, up to your policy limit. The choice is yours.  Our goal is to provide our clients with options.  

Dwelling Coverage 

Dwelling coverage can help you pay to repair or rebuild your home if it is damaged by a covered event. Typically, you will want to have enough dwelling coverage to cover the estimated cost to repair, rebuild and replace your property.

Personal Property

Personal property coverage can help you pay for the personal items in your home that may be damaged or destroyed by a covered cause of loss, which could include your furniture, clothes, sporting goods and electronics. 

Personal Liability Coverage

Personal liability coverage can help protect you in the event of a claim. It also helps cover related costs if a legal suit is brought against you or a member of your household for bodily injury or property damage to others.

Other Structures  Coverage

Other structures coverage can help pay for covered damages to detached structures on your property such as pools, mother-in-law suites, garages, sheds and fences.

Loss of Use  Coverage

Loss of use coverage can help pay your additional living expenses if you must move out of your home temporarily while it's being restored. This is typically subject to coverage terms and limits.

Below is a listing of our current homeowners credits. Please note that credit availability and amount may vary by state. Credit definitions and explanations 

• Burglar alarm – Must be a direct reporting or central station system that is maintained and in use 

• Fire alarm – Must be a direct reporting or central station alarm system that is maintained and in use

• Residential sprinkler system –All enclosed spaces (living areas, basements, garages and mechanical areas) must be protected by a properly maintained sprinkler system; a lower credit applies for systems protecting only areas of egress and mechanical areas 

• Sprinkler system water flow alarm – Must activate a central station or direct alarm 

• Security protection for entire external perimeter – Includes one or more of the following: - Closed-circuit television cameras monitored 24 hours a day - Detection system, external to the residence, which is motion activated and monitored 24 hours a day - 24-hour on-site security guard the highest quality of work 

• Full-time caretaker living at the residence year round – Applies only if a 24-hour on-site security guard is not present; does not apply if home is seasonal, but a separate discount is available 

• 24-hour signal continuity – Protection for central-station or direct-reporting fire and burglar alarms; ensures uninterrupted communication with central station in the event that primary communication is interrupted 

• Temperature monitoring system – Protects against freezing and activates a central station alarm 

• Back-up generator – Permanently installed electrical power source capable of servicing heat, light, alarm and sprinkler systems 

• Gas leakage detector – Monitors explosive gas and activates a central station alarm 

• Automatic seismic shut-off valve – Attached to gas lines; automatically activates in the event of an earthquake 

• Lightning protection system – UL Master Label lightning system must be installed by a certified Lightning Protection Institute installer; system must include lightning rods, lightning surge arresters protecting the electrical wiring and all electronic devices of the entire house 

• Perimeter gate protection – Vehicular and pedestrian access is limited to entrances controlled by locked or electronic gates; does not apply if guard gated community credit is available 

• Guard gated community credit – Home is located in a gated community meeting all of the following criteria: - Vehicular and pedestrian access is limited to entrances controlled by guards or locked gates at all times - Proper identification is required to enter - Visitors are announced 

• Automatic water shut-off valve – Actively monitors and protects all residential plumbing in the main residence; if a leak occurs, the device must close and shut off master plumbing valve, or close and shut off master plumbing valve and activate central station or direct alarm system