MENU LOG IN Questions about your policy? Get to know the lingo and details of insurance THE BASICS FAQ IDENTITY THEFT RESOLUTION THE BASICS What's the difference between replacement cost and actual cash value? Replacement Cost With respect to your dwelling, replacement cost is the actual dollar amount it would take to repair, rebuild, or replace your home. This is not based on a tax appraisal or sales price — the cost of rebuilding your home could be more or less than what you paid for it or what it would sell for on the current market. READ MORE How can I lower my insurance cost? We understand that in every household, money matters, which is why RVOS is committed extending the best rates possible to our policyholders. Homeowners who safeguard their homes against the risk of fire, theft and other losses are often eligible for lower insurance premiums. Here are some discounts that may qualify you for lower rates: New Home Discount READ MORE What are my payment options? Generally, there are two methods of paying your insurance premiums. You may pay your premiums directly to your insurance carrier, or your mortgage company may pay them on your behalf. If your property has a mortgage through a lender, the mortgage company usually sets up an "escrow account." Typically, the lender requires a specific amount of money to be kept in this account at all times. When you pay your monthly mortgage payment, part of the payment is placed into the escrow account to fund it. From this account, your lender will pay your property taxes and homeowner's insurance when they come due. Note that homeowner's insurance is not to be confused with private mortgage insurance (PMI). Your lender may require you to purchase PMI if you do not make a down payment of at least 20% of the selling price of the property at the time of purchase. PMI protects your lender in the event you default on your loan. It does not provide any coverage for you or your property. READ MORE How do I choose the right coverage? A standard homeowner's insurance policy provides separate coverages that are packaged together to provide a broad spectrum of financial protection in the event of a covered loss. In the State of Texas, there are two types of policies available to homeowners, All-Risk and Named Perils. Named Perils Policies Named Perils policies are sometimes known as "Specified Perils" policies. This policy type only covers the causes of loss specifically named in the policy and offers narrower coverage than an all-risk policy. Our Star product is a Named Peril policy. READ MORE How are premiums calculated? Many factors are used to determine the appropriate premium for a homeowner's policy. The age and value of your property, the materials used in its construction, the size of the property, its fire vulnerability protection class and where your property is geographically located all come together to form the baseline of your rate calculation. Additional factors, such as claims history, insurance score, and the amount of coverage desired, also play a role in rate calculation. Generally, a property's fire vulnerability protection class is based upon its location, the type of fire-fighting force it is serviced by, and its proximity to a fire hydrant or station. A property located in a rural area that either has no fire-fighting service, or is served by a volunteer force, is rated differently than a property located in a city that is serviced by career firefighters who are more equipped to respond to an emergency call. READ MORE Does my homeowners policy cover flood damage? Regular homeowners insurance policies don't cover damage from flood waters. Through the RVOS General Agency, however, RVOS can provide your home with flood insurance. Give your agent a call to discuss the available options for your property. Find an Agent: GO! PRODUCTS Farm & Ranch Homeowners Renters Manufactured Home Church and Organization Commercial INFO CENTER The Basics FAQ Identity Theft Resolution ABOUT RVOS Our Companies History Board of Directors Newsletter CONNECT Contact Us Find an Agent Claims Make a Payment Copyright © 2020 RVOS Insurance. All rights reserved.Privacy PolicyTerms of Use Manage your policy online with the MyRVOS customer portal. MYRVOS LOG IN ×