2008 Al Carrell How To House

:::.. Insurance

1818 W.SW. Loop 323
Tyler, TX 75701
(903) 561-2621

Even before the Al Carrell How-to House was completed, Bosworth & Associates of Tyler was on the job making sure that it was adequately protected. That’s because Bosworth & Associates provided the Builder’s Risk insurance, that protected the house and builder Jason Vander Vorste in case of fire, storm damage, vandalism and other potential casualties.

And with the house now complete, when its first family moves in, it will most likely represent the most important asset in that family’s portfolio.

And that’s why, as a part of the process of completion and delivery, a comprehensive analysis of the homeowners insurance will be conducted.

The team at Bosworth & Associates of Tyler will meet with the new owners to make sure that the How-to House is fully covered from its very first day.

Bosworth & Associates will explain that every homeowner should insure for the cost to completely rebuild the home should it be destroyed. Market value is not the best indicator of replacement cost. It takes professional experience to ascertain what it would cost to rebuild the home in the current market for materials and labor.

Rebuilding the structure in case of total loss is only part of the process, however. The other major component is replacing the contents of the home. Again, it takes experience to adequately determine how to cover your belongings in case of total loss.

This process is multi-faceted. It starts with doing a comprehensive inventory. The inventory will include documentation of items by serial number, purchase price and date, and other pertinent details. One of the best ways to document home contents is with a picture file or video tape that is kept in safekeeping away from the residence.

The process continues by selecting the best policy, or form as it is called in the industry. In Texas, there are three standard homeowners forms, HO-A, HO-B and HO-C. The level of coverage and the premium increases, with HO-A being the lowest and HO-C being the highest. An experienced homeowners insurance professional will select the best form for the situation presented by the How-to House family.

Lastly, special items such as jewelry, collectibles, antiques and other one-of-a-kind items will be “scheduled,” meaning that specific increased coverage is provided for these items that exceeds the coverage provided by the standard form.

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