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Homeowners Insurance

HOMEOWNERS Insurance Policy
Homeowners insurance is one of the most popular kinds of insurance policies you can purchase. This is because a home is the largest investment that the average person will ever make. If you own a home, you definitely want to protect this investment as much as possible.

Home insurance is for anyone who owns a home. Its purpose is to cover the expense of repairing or even replacing your home in case of problems or disasters such as fire, theft or other calamities. When you have an insurance policy, you pay a monthly or annual fee in exchange for a certain amount of protection. Different policies will offer different kinds and amounts of protection.

Types of Insurance Policies For Homeowners
There are several kinds of insurance policies designed to protect home owners. The most common ones sold today are:

  • HO-2: this is the most popular and least expensive type of policy. It covers only the type of damage specifically listed in the policy.
  • HO-3: This is a more comprehensive type of policy that provides what is known as “open perils” protection. This includes all damages to your home except for ones that are excluded from the policy.
  • HO-4: This type of policy is not for the home itself, but for personal property. This kind of insurance is available to both renters and homeowners.

Limits of Home Insurance
You should be aware that most home owners insurance policies do not protect you from certain perils. While this depends on the particular policy, exclusions usually include earthquakes, flooding, nuclear accidents and any damage done by law enforcement personnel. In some cases, you can purchase additional insurance to cover these or other possibilities if they concern you.

Benefits of Home Owners Insurance
The main benefit of home insurance is peace of mind. Without insurance, your home is at risk to many common perils and disasters. While even the best insurance policy cannot prevent your home from being damaged, it can at least protect your financial investment in your home. Before you purchase a policy, we make sure you are clear on exactly what is and isn’t covered.