Asset Equine Insurance - Home Owners Insurance

HOA
Texas Homeowners Form A is a named-peril policy, which covers the insured’s residence and personal property for Fire or Lightning, Windstorm, Hurricane & Hail, Explosion, Riot or Civil Commotion, Aircraft & Vehicles, Sudden & Accidental Damage from Smoke, Vandalism or Malicious Mischief, Theft. Payments for property losses are limited to the actual cash value at the time of loss, with deduction for depreciation (or the cost to repair or replace the covered property. or the limits of liability of the policy, whichever is less).

Also included in the Homeowners policy is coverage for liability and medical payments to others as well as other, additional coverage’s such as coverage for loss of use of the residence. Limitations, exclusions, and conditions apply. Only a reading of the policy form itself can adequately describe what is covered and what is not.

HOA Plus
The Texas Homeowners Form A can be endorsed to include additional perils:
Sudden and Accidental Discharge of Water or Steam, Falling Trees or Limbs, Objects Falling from Weight of Ice, Snow or Sleet, Collapse of Building. When the additional perils endorsement is added we also include an endorsement which changes the settlement of losses to provide full replacement cost for damages to the dwelling. This is subject to various conditions, such as the requirement that the dwelling be insured for at least 80% of what it would cost to replace it. We refer to this endorsed version of the Homeowners Form A as HOA Plus. In addition, loss settlement based on replacement cost may also be selected for personal property by purchasing a separate policy endorsement.

HOB
Texas Homeowners Form B covers all risks of physical loss to the residence except those excluded or limited by the policy. Some excluded major perils and losses are: earthquake and earth movement, flood, wear and tear, insect damage, and mold remediation costs.
Losses to personal property must be caused by a named peril, including fire, windstorm, hurricane and hail, explosion, aircraft and vehicles, vandalism, collapse of building, accidental discharge of water or steam, theft. Limits are placed on certain property such as jewelry, property off-premises. Also included in the Homeowners policy is coverage for liability and medical payments to others as well as other, additional coverage’s such as coverage for loss of use of the residence.

Some companies exclude or limit certain losses by Special Provision. Some limit the loss of firearms by theft to $2,500. Water damage losses are limited to sudden and accidental losses only. Liability losses related to certain causes are excluded: all animals (accepted breeds of dogs can be "bought back"), trampolines, ATV's

Loss settlement on the residence is based on replacement cost. Loss settlement for personal property is limited to the actual cash value at the time of loss, with deduction for depreciation. Replacement cost loss settlement for personal property can be purchased.

Other limits, conditions, and exclusions apply to the HOB. Only a reading of the policy form and its attached endorsements can adequately describe what is covered and what is not.

P.O. Box 185
Pilot Point, Texas 76258
Toll free: 888.686.5662
Local: 940.686.0869
Fax: 940.686.5203
mail@assetequine.com

We are licensed in MOST STATES

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