Purchasing a home is one of the most expensive purchases anyone will make in their life, both financially and emotionally, so it is essential to keep that investment protected. Home insurance can be a great asset to ensure that you are protected during a scenario in which your home is destroyed or damaged.
From larger policies to simple liability coverage, homeowner’s insurance can vary by how it covers the home’s structure and personal property in your house.
Your home insurance broker will make a huge impact in determining how your homeowner’s insurance coverage functions.
Common Homeowner Insurance Policies
Insurance Quotes Salt Lake provides customers with insurance policies similar to the following:
HO-1 Policy
An HO-1 homeowner’s insurance policy gives you fundamental coverage. It takes care of destruction caused by certain events, including fire, lightning, windstorms, hail and explosions. These programs also usually cover damage instigated by civil unrest and volcanic eruptions. Since this policy is very narrow, many states don’t usually offer it.
HO-2 Policy
This policy secures you against 16 types of events, including the resulting destruction from burglary, vandalism or civil tension. An HO-2 policy will take care of windstorm damage, hail damage and broken glass, as well as destruction caused by smoke and any damage induced by a vehicle. If your roof disintegrates or pipes rupture, this policy will also protect that.
HO-3 Policy
The HO-3 policy covers all possible causes of destruction to your property and possession loss, with the exception of precisely listed events. Exclusions vary from policy to policy, so read yours carefully to comprehend what is going to be excluded.
Basic vs. Extra Coverage
Basic homeowner’s insurance typically covers the money it will cost to restore compromised property, as well as the restoration costs if your home is damaged. It also covers your belongings, but the items inside your house are only covered for up to 40 percent of the home’s insured value. Additional coverage will defend you against fires and earthquakes, as well as covering the loss of private property like jewelry, computers and cameras.
Contact Us Today
Insurance Quotes Salt Lake can help protect your Midvale, UT residence with a homeowner’s insurance policy. Talk to one of our home insurance brokers today for a complete list of policy details and the best rates available.
