Homeowners Insurance Texas 120

September 2, 2014

by — Posted in Homeowners Insurance

Not long ago, a well-known insurance company was the target of public scrutiny when one of their internal company memos became available for individuals around the nation to see on the Internet. The memo was of particular interest to homeowners in the state of Texas because it mentioned that homeowners insurance policies would not cover damage that was caused by fracking.

There was an undeniable negative response by the public in general to this idea. However, the standard industry operating procedure is in agreement with what was leaked in that memo. If an individual has homeowners insurance, as well as people who have commercial general liability insurance, the vast majority of policies specifically exclude damage that is caused by environmental contamination, like fracking.

Pollution is not the only risk that individuals who have purchased homeowners insurance should be concerned about. During the fracking process, workers drill deep into the earth and inject fluids under high pressure. This process has been linked with explosions, fires, and earthquakes. All of these things can affect homes that are in the area where fracking takes place.

This is something that Texas homeowners should take very seriously when thinking about their homeowners insurance policy. They need to carefully scrutinize their policy to see which things are actually covered under their homeowners insurance and which things are not. Some policies will cover damage that comes from an explosion or fire even if the root cause is fracking. Some homeowners insurance policies that contain an earthquake endorsement will also cover a home that has been damaged because of seismic activity that is the result of fracking. It is important for homeowners to get this endorsement since without it, their homeowners insurance may not cover any damage. Getting a good policy from various sites on the internet is a smart idea.

If a homeowner has already had their home damaged as a result of fracking and it was not covered under their homeowners insurance policy, this does not mean they cannot receive financial restitution. Depending on the situation, taking legal action against the fracking company may be necessary. However, this is usually an expensive and lengthy process. It is much better for a homeowner to be sure that earthquake endorsements as well as environmental endorsements are included on their homeowners insurance policy before any damage takes place.

It is extremely important for homeowners to thoroughly understand their homeowners insurance. If they don’t understand something, they need to ask their insurer. If they are not satisfied with the answers they receive about their homeowners insurance, they need to continue to educate themselves and work hard to find a policy that will protect them against any kind of fracking damage that may occur, including earthquakes, fires, explosions, and cracked walls and ceilings.

For the vast majority of homeowners, their home is the largest investment they will ever make in their lives. It is important to be aware off various environmental factors that can not only damage their home, but also serious affect the health of the inhabitants of it. Texas residents would do well to be sure their home is protected from fracking done near their neighborhood and be sure their homeowners insurance covers any kind of damage that may occur. They want to protect this large financial investment as well as the safe haven they have created for their family.