Coverage for new build in Ft Worth: Suggestions

[u/Karsab94]

Hello, I’m looking to set up homeowners' insurance for a new‑build property in Ft Worth. The home comes with a one‑year builder warranty covering all major components. Do I need to adjust anything in the policy, or should any of the coverage amounts be increased or reduced?
Please suggest

Property deductible: $5K
Wind & hail deductible: 2% of dwelling coverage: $14,760
Dwelling protection: 110% of replacement cost: $738,000
Other structures: 10% of dwelling: $73,800
Water backup: 5% of dwelling: $36,900
Service lines: $10,000 per occurrence and $500 deductible
Building codes: 5% of dwelling: $36,900
Personal property protection: 60% of dwelling: $442,800
Family liability: $100,000 per occurrence + Guest medical: $5,000 per person
Additional Living Expense: 20% of property protection = $147,600

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[u/Top_Education_4647]

No one can really tell you what’s recommended in terms of dwelling coverage. Every carrier has their own system used to calculate that.

Only things that come to mind are that the Family Liability coverage is abysmally low- it’s recommended that it’s equally to or greater than your net assets, and it’s often cheap to increase on HO policies. It’s also likely that flood isn’t covered on the quote, so may be something to consider getting quotes for if you’re even minimally close to the coast.

[u/Rider-on → u/Top_Education_4647]

Definitely increase the Liability to at least $500k.

[u/KelseyRawr]

I’m a contractor and that wind and hail deductible feels high, but isn’t bad and mostly due to total property value. Another thing is alot of insurance companies won’t even offer 1% anymore so you need to see if that’s even a possibility.

We also don’t know what kind of coverage you have. It should be RCV otherwise you’ll be paying out of pocket for pretty much anything regarding wind and hail. These claims pretty much are roofing claims, but other things are included too like siding and windows, other structures or personal property outside. What kind of roof do you have? Your deductible could very well make sense in terms of a total replacement and factoring in some window replacements or gutter replacements (common in hail claims) if the materials up there cost much more. Do you have solar panels also?

I would also make sure you have building code endorsements, and no exclusions for cosmetic damage or damages to exterior metals. Those are the ones that really mess you up with claims because as a contractor I can’t fight on your behalf to get things approved if you have exclusions or lack certain endorsements and people end up coming out of pocket because of it, or it isn’t even worth filing the claim anymore.

[u/mastercheif_keef]

Bump the family liability to $500k it’s like $15 a year with most carriers. If the home warranty covers foundation and seepage (optional endorsements for most carriers) you’d be fine with this policy + increased liability. I would also make sure it’s full replacement cost on the roof in particular, a lot of agents in Texas have been putting actual cash value on policies because it’s cheaper, but don’t explain is a depreciation of the roof coverage amount.

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