Homeowners Insurance FAQ

How much life insurance do I need? Return To Top

Estimate how much it would cost to rebuild your house completely. Call Jim Toman Insurance at 903.509.1300 for a free, no-obligation home insurance quote and we'll help you do the calculations so you choose the right amount of protection.

Should I purchase coverage for the full amount of my mortgage? Return To Top

Probably not. Your mortgage probably reflects most of the price you paid for your property, including both the cost of your house and the value of your land. Home insurance covers your house and additional structures, not the land.

What's a deductible? Return To Top

It's the amount of the loss for which you are financially responsible. Your home insurance will only pay for the amount of your loss minus the deductible. The higher your deductible, the lower your premium because you're taking on more shared responsibility for any possible loss.Some coverages have no deductible. See policy for terms, conditions, and restrictions.

Will my homeowners policy cover me for earthquakes? Return To Top

Basic homeowners insurance policies don't cover damage resulting from earthquakes. If you are concerned about your house being damaged by an earthquake, contact Jim Toman Insurance.

Will my homeowners policy cover damage caused by flooding? Return To Top

All standard home insurance policies exclude water damage caused by floods. If you think flooding is a possibility in your area, consider purchasing a separate flood insurance policy from Jim Toman Insurance.

For certain homeowners, flood insurance is required. For example, if you have a federally-backed mortgage on a home in a high risk flood zone, federal law requires you to purchase flood insurance. Also, if you’ve received a federal grant for previous flood losses, you must have a flood insurance policy to qualify for future aid. Flood insurance may also be required by your mortgage company, if your property is in a flood zone.

A neighbor was hurt on my property. Do I have protection under my homeowners policy? Return To Top

Yes. Most home insurance policies protect you in case a person is injured while at your house or if someone else's property is damaged by you. Coverage normally includes:

• Personal Liability. Helps protect you and relatives who are part of your household from legal liability for injuries to other people either on or off your property, or for damage you cause to anyone else's property.

• Medical Payments to Others. If you injure someone who's not in your household, or if a person gets hurt on your property, this coverage typically helps to pay reasonable medical expenses, regardless of fault, up to the limit purchased for each injured person.

• Damage to Property of Others. Pays for damage to property of others up to the limit purchased.

See policy for restrictions.

If my dog bites my neighbor, am I covered? Return To Top

Yes, up to your specified policy limits. See policy for restrictions.