Homeowner’s Insurance

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(281) 232-5207

What is Home Insurance?

Home insurance, also commonly called hazard insurance or homeowner’s insurance (and often abbreviated in the US real estate industry as HO1), is a type of property insurance that covers a private residence.

It is an insurance policy that combines various personal insurance protections, which can include losses occurring to one’s home, its contents, loss of use (additional living expenses), or loss of other personal possessions of the homeowner, as well as liability insurance for accidents that may happen at the home or at the hands of the homeowner within the policy territory.

Typical Home Insurance Coverages

Section I — Property Coverages

Coverage A – Dwelling
Covers the value of the dwelling itself (not including the land). Typically, a coinsurance clause states that as long as the dwelling is insured to 80% of actual value, losses will be adjusted at replacement cost, up to the policy limits. This is in place to give a buffer against inflation. HO-4 (renter’s insurance) typically has no Coverage A, although it has additional coverages for improvements.
Coverage B – Other Structures
Covers other structure around the property that are not used for business, except as a private garage. Typically limited at 10% to 20% of the Coverage A, with additional amounts available by endorsement.
Coverage C – Personal Property
Covers personal property, with limits for the theft and loss of particular classes of items (e.g., $200 for money, banknotes, bullion, coins, medals, etc.). Typically 50 to 70% of coverage A is required for contents, which means that consumers may pay for much more insurance than necessary. This has led to some calls for more choice.
Coverage D – Loss of Use/Additional Living Expenses
Covers expenses associated with additional living expenses (i.e. rental expenses) and fair rental value, if part of the residence was rented, however only the rental income for the actual rent of the space not services provided such as utilities.
Additional Coverages
Covers a variety of expenses such as debris removal, reasonable repairs, damage to trees and shrubs for certain named perils (excluding the most common causes of damage, wind and ice), fire department changes, removal of property, credit card / identity theft charges, loss assessment, collapse, landlord’s furnishing, and some building additions. These vary depending upon the form.
Exclusions
In an open perils policy, specific exclusions will be stated in this section. These generally include earth movement, water damage, power failure, neglect, war, nuclear hazard, septic tank back-up expenses, intentional loss, and concurrent causation (for HO3). The concurrent causation exclusion excludes losses where both a covered and an excluded loss occur. In addition, the exclusion for building ordinance can mean that increased expenses due to local ordinances may not be covered. A 2013 survey of Americans found that 41% believed mold was covered, although it is typically not covered if the water damage occurs over a period of time, such as through a leaky pipe.
Floods
Flood damage is typically excluded under standard homeowners and renters insurance policies. Flood coverage, however, is available in the form of a separate policy both from the National Flood Insurance Program (NFIP) and from a few private insurers.

Section II — Liability Coverages

Coverage E – Personal Liability
Covers damages which the insured is legally liable for and provides a legal defense at the insurer’s own expense. About a third of the losses for this coverage are from dog bites.

Ebony Jackson

2 years ago

Roger was incredibly thorough, attentive, and patient in assisting me with finding coverage for both my business and car insurance. This was, without a doubt, the best customer service I've ever experienced. It was clear that he wasn’t just trying to make a sale like he genuinely cares about his clients, and it shows in his work. I will definitely choose this place again for any of my insurance needs.

Michael Hogan

Roger and his team were great and very helpful throughout the process. Definitely recommend giving him a call.

Adam Beason

Excellent service and five star coverage

Hiren Chudasama

Thank you Lifeway for everything you all have done for me from Commerical to residential Insurance. Best prices with the best customer service.

Lori Lord

Lifeway is a great insurance broker! They have been able to support my home, auto and business needs which makes things so much easier. And they are always available to answer my questions when needed.

WRX Team

4 years ago

Roger has done an excellent job with providing clarity and insight every year for our business. I'm consistently impressed with the simple to understand approach and detailed answers.

Prince Henro

Roger Gets me right everytime. Use him for all my businesses and life. Even takes care of my taxes. Definitely recommend.

Candice McGlen

5 years ago

I would recommend Lifeway to anyone who is looking for not just outstanding customer service but SOLUTIONS that will support your needs and goals. Roger is a wealth of knowledge and always willing to share what he knows to ensure his customers are empowered to make the best choices for their lives. When you work with Roger, you’re guaranteed to protect your assets while becoming more enlightened in the process. I am very pleased and will continue to use LifeWay for my insurance needs.

ari miller

The team at Lifeway made sure that I understood my insurance policies, and gave me real life examples of why I needed certain coverages. Lifeway seemed to care about me as another human, not just as an insurance client. They helped me protect myself against heavy financial losses that would have placed extreme Financial burdens on my family. I’m grateful for the thoroughness of the team at Lifeway & i am a client for life!

Also, Lifeway’s tax advisory service was extremely patient and the Broker was sure to do his due diligence in filing my taxes accurately and most logically so that I could make the most of this tax year. Love it here!

Ben Freelon

If you are looking for an expert to offer great service in the process of acquiring insurance for your business, Roger is the man!

He explained my policy in a manner that was easy to understand, answered all of my questions, and walked me through the process.

I usually don't do reviews, But His Service Definitely Deserves a 5⭐

(281) 232-5207

What is Home Insurance?

Typical Home Insurance Coverages

Section I — Property Coverages

Section II — Liability Coverages

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Personal Risk

Commercial Risk