Insurance question HO-3 vs. HO-B (Houston, Liberty: hardwood floors, home, deductible)

[moving_houston_soon]

I am shoping for home owner's insurance. I know that I should get an open perils coverage. I have found an HO-3 policy that is open perils and full replacement for structure and contents. It seems to cover the same things as an HO-B (the standard policy in Texas) with two exceptions:

The HO-3 does not cover:
1. Continuous or Repeated leakage from plumbing, heating, air conditioning
2. Backup of sewers/drains

The cost difference between the 2 policies is around $600 or 25% of the policy. This leads to two questions:

1. How concerned should I be about the 2 exclusions in the HO-3 policies in Houston?

2. Is there anything I am missing? The HO-3 seems like a very good deal compared to the HO-B quotes.

(I should point out that the policies are underwritten by companies with similar financial backing; the main differences seem to be exclusions). Note the HO-3 policy is with Liberty Mutual.

[Dfelix2040]

If you can afford it get the HOB, it offers more coverage for water damage. Most H03s have a cap (5k or 10k) if a pipe burst or sewer backs up into your home. HOBs cover water for the amount your home is covered for and some even offer mold remediation.

Insurance pro for 6+ years.


Danielle
Uptown Houston
Gibraltar Insurance Services
[email]Danielle.Felix@GHFS.net[/email]

[sonic0boom]

I'm not familiar with those 2 types of policies, but let me share an anecdote in case it may help with your decision. Our downstairs half bath had a leak in the wall, which meant that were not able to discover it until it had seeped under the hardwood floors in the neighboring room. As a result of our coverage which included this kind of water leak, the insurance covered replacing the entire downstairs hardwoods plus the water remediation. It was a $40K-plus claim and we just had to pay our deductible.

Now, you say the exclusion is "continuous or repeated" leakage. I don't know how that differs from a one-time even like ours, but i would certainly check to see what riders are available that this scenario. I don't recall that we were paying an extra 25%, though, for that coverage.

[txdemo]

I believe the OP, "moving_to_houston_soon", has changed his username to "was_moving_to_houston_eight_years_ago_but_nobody_ ever_answered_my_original_post"

[SuperPollito]

Originally Posted by txdemo

I believe the OP, "moving_to_houston_soon", has changed his username to "was_moving_to_houston_eight_years_ago_but_nobody_ ever_answered_my_original_post"

You’re not allowed to make posts like that on this forum. This is the only place on the internet where people think it’s cool to revive necro threads and other people support them instead of openly disparage their entire life’s accomplishments. You’ve been forewarned.

[sonic0boom]

Ha! Good catch... I wasn't even paying attention to the original date.