If your house is damaged or destroyed by flood, fire, or some type of natural disaster, you will be responsible for the entire cost of rebuilding your home. Purchasing home insurance can restore your personal possessions or protect you if you are liable for damage to someone else’s property or an injury sustained at your home. Along with that, you could also get coverage to take care of court fees, food and shelter if you have to abandon you home. Sitting down with an insurance agent can help you figure out which type of insurance fits your lifestyle.
When you buy your first house, you’re making a serious financial and emotional purchase. Buying home insurance can be a great asset to ensure that you are covered in case your house is destroyed or damaged.
From liability coverage to more comprehensive policies, homeowner’s insurance can vary in how it covers the structure and personal property in your house.
What your plan covers depends on the insurance type that you buy. To learn what type of homeowner’s insurance best suits your needs, meet with a qualified insurance agent from HIS Insurance & Services today.
HIS Insurance & Services provides customers with insurance policies similar to the following:
An HO-1 homeowner’s insurance policy gives you fundamental coverage. It deals with damage caused by particular incidents, including fire, lightning, windstorms, hail and explosions. These policies also usually cover damage caused by civil conflict and volcanic eruptions. Since this policy is very restricted, many states no longer offer it.
This policy secures you from 16 types of events, including damage from theft, vandalism and riots. An HO-2 policy will take care of hail damage, windstorm damage and broken glass, along with smoke damage and wreckage caused by a vehicle. If your pipes erupt or your roof collapses, this policy will also protect that.
The HO-3 policy covers all possible causes of destruction to your property and belonging loss, with the exception of specifically listed events. Exclusions contrast from policy to policy, so read yours meticulously to recognize what is going to be left out.
Basic vs. Extra Coverage
Simple homeowner’s insurance typically covers the money it will cost to fix damaged property, as well as the auxiliary costs if your home is damaged. It also covers your belongings, but the contents of your household are only covered for up to 40 percent of the home’s insured value.Supplementary coverage will defend you against earthquakes and floods, as well as dealing with the loss of personal property like computers, jewlery and cameras
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