All Forum Posts by: Brandon Foard

Any additional information you can provide us? What is the cause of loss? Who decided 8K in damage? How much is your deductible? Lots of information that we don't know from your post.

Generally here in Texas, a single claim shouldn't raise your premium. Multiple occurrences within a few years, however you could probably expect a rate increase. I believe that in general Texas homeowners usually pay a higher rate than some other states simply due to the exposure that Texas has because of its geographical size. We have tornados, hail storms, hurricanes, wildfires, floods...etc. that happen here in Texas EVERY year.

This article by House Logic says that during a survey a single claim in CT could raise rates by +20%.

http://www.houselogic.com/blog/your-insurance-score/can-one-home-insurance-claim-bump-your-annual-premium/

I would not take that offer. That doesn't provide you any protection if they cause damage else where. If there isn't an appliance, either buy once and put in the unit or note it in the lease and tell them they have to furnish it if they want it.

1 year lease and then an automatic month to month here.

I would think you would have way to much turn over if you did semester to semester.

After reading some of the posts, I believe some people do not truly understand the difference in the two. 

For example if someone says they have an ACV for 100,000 and they have a fire. Odds are that the fire doesn't completely burn the house to the ground if you are close to a fire dept. you might have substantial damage that you have to fix. Well if that house is 40-50 years old (1965-1975) you are going to loose a lot of money in depreciation. Same goes for the 50 year old asbestos roof. 

If it's a total loss ( from insurance standpoint, not yours) that's a different story. 

I'm with the agent that won't even quote an ACV policy. I feel it's better to carry a RC policy, but then again I don't own 10 dwellings and have to pay thousands in premiums. 

There's always more than one way to skin a cat, to each their own. In the end if you are happy with your coverages then that's all that matters. Just make sure you have an agent that REALLY knows the difference and can explain it to you. Or better yet, find an adjuster and ask them!!