In the wake of unprecedented winter storms, many Texans are dealing with power outages, food scarcity, and property damages. The preeminent question among homeowners who have only recently had power restored and are assessing the situation is, “What’s covered here?” Joining me today is Drew Hoss of Fellars Insurance to discuss just that. From “acts of God,” to “captive carriers,” to potential rate hikes, we’ll cover it all.
Cited below for your convenience are timestamps that will direct you to various points in the video. Feel free to watch the full message or use these timestamps to skip to topics that interest you most:
1:30 — Dealing with frozen pipes and proving “reasonable care” to your insurance provider
2:40 — Homebuyers should note that some carriers have put moratoriums on new business
3:46 — Water can be a major exclusion in policies, but this is “freezing peril,” not “water peril”
5:36 — Will claims for this “weather event” increase individual policy owners’ rates?
6:48 — The difference between captive insurance carriers and independent insurance carriers
8:55 — How to get in contact with Drew if you want help shopping for a better policy fit
I hope you found this conversation insightful. If you have questions about coverage or what to do next if you have serious property damage, please reach out. We’d be happy to connect you with Drew or refer any other professional services you may need. This is obviously a difficult time for our region, but we want you to know that we’re here to help in whatever way we can.
