Finding The Right Home Insurance Policy
Types of Home Insurance
When looking for the right homeowners insurance policy to properly protect your home, especially if it is your first time, you may be surprised to find that there are many different types of home insurance policies. Knowing the differences between the policies can help to ensure that you invest in the right policy for your needs. Keep these home insurance basics in mind to ensure that you choose the right policy for your home.
- HO-1 and HO-2 home insurance policies will provide coverage for the damages that are specifically listed on the policy. They will not provide any coverage for personal property that is kept in your home.
- HO-3 home insurance policies are the most common types of home insurance policies and will provide coverage for any type of damage, except what is specifically excluded on the policy. HO-3 home insurance policies will also provide coverage for personal property that is kept in your home, but only for perils that are listed on the policy.
- HO-5 home insurance policies will provide the same amount of coverage as HO-3 policies, but with additional personal property coverage, which comes at an extra cost. Some insurance companies will not write HO-5 insurance policies, but they will provide a rider to add the extra coverage for personal property.
- HO-4 and HO-6 home insurance policies will only provide coverage for personal belongings, and only for damages that are listed on the policy. HO-4 and HO-6 insurance policies are not traditional home insurance policies and will provide coverage for renters and condo owners.
For all your homeowners insurance coverage needs contact the insurance professionals at Massive Insurance in Pasadena, California. As an independent insurance agency, we will work with you to ensure that you have the right amount of coverage, all at the right price.