Homeowners insurance provides financial protection against disasters. A standard policy insures the home itself and the things you keep in it.
Homeowners insurance is a package policy. This means that it covers both damage to your property and your liability or legal responsibility for any injuries and property damage you or members of your family cause to other people. This includes damage caused by household pets.
Damage caused by most disasters is covered but there are exceptions. The most significant are damage caused by floods, earthquakes and poor maintenance. You must buy two separate policies for flood and earthquake coverage. Maintenance-related problems are the homeowners' responsibility. If you own the home you live in, you have several policies to choose from. The most popular policy is the HO-3, which provides the broadest coverage.
Common types of homeowner insurance policies include (prices will vary):
1. HO-3: The Most Common Policy - This policy protects your home from all perils except those specifically excluded.
4. HO-5: This home insurance policy is known as an open perils policy. This means it does not list the perils for which your home and personal property are covered. Instead, it specifies the perils for which your home and personal property are not covered. If your home and/or personal property are damaged or destroyed by an event that is not on the exclusion list, then you are covered. This type of policy provides the most substantial coverage that is offered. It is one of the most elite home insurance policies available to homeowners.
Getting the right coverage for your home starts with expert consultation. We will study your home's unique characteristics and previous policies, explain the options, and craft personalized coverage. Our access to the top carriers means that you will get the policy you need at a price you can afford. We look forward to serving you!