If your house is damaged or destroyed by a fire, earthquake, or some type of natural disaster, you will be accountable for the entire cost of rebuilding your home. Purchasing home insurance can restore your personal property or protect you if you are liable for damage to another person’s property or an injury sustained on your property. Along with that, you could also obtain coverage to take care of court fees, food and shelter if you have to abandon your home. Having a discussion with an insurance agent can help you determine which form of insurance fits your lifestyle.
Purchasing a house is one of the most expensive purchases anyone will make in their life, both financially and emotionally, and it is essential to keep the investment protected. Home insurance can be a great benefit to make sure that you are covered in case your home is destroyed or damaged.
From more comprehensive policies to basic liability coverage, home insurance can vary in the coverage for the structure and your personal property in your house.
What your plan covers depends on the insurance type that you select. To learn what type of home insurance best suits you, speak with a qualified agent from HIS Insurance & Services now.
The most fundamental types of homeowner’s insurance policies are listed as follows:
HO-1 Policy
An HO-1 homeowner’s insurance policy gives you fundamental coverage. It deals with harm caused by specific events, including fire, lightning, windstorms, hail and explosions. These plans also usually cover damage triggered by civil conflict and volcanic eruptions. Since this policy is very limited, many states don’t usually offer it.
HO-2 Policy
This policy secures you from 16 types of events, including the resulting destruction from burglary, vandalism or civil tension. 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 rupture or your roof caves in, this policy will also cover that.
HO-3 Policy
HO-3 policies cover all possible grounds of destruction to your property and asset loss, except for explicitly listed events. Exclusions differ from policy to policy, so read yours meticulously to understand what is going to be excluded.
Basic vs. Extra Coverage
Fundamental homeowner’s insurance typically takes care of the money it will cost to restore the compromised property, as well as the restoration costs if your home is destroyed. 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. Additional coverage will defend you against earthquakes and fires, as well as dealing with the loss of private property like computers, jewelry and cameras.
Get in Touch
If you need a complete list of the best homeowners insurance rates and policies for your Cottonwood Heights, UT home, contact Insurance Quotes Salt Lake today.
