Buying a house is a huge emotional and financial investment and it is important to protect that investment. Home insurance is a great benefit to ensure that you are covered any scenario that leaves your home destroyed or damaged.
You will be liable for the entire cost of rebuilding your house if it is damaged from flood, fire or a natural disaster. Home insurance may be able to restore your personal property, protect you if you are liable for damage to someone else’s property or if someone sustains an injury on your property. Additionally, you could also get coverage to deal with court fees, food and lodging if you have to exit your home.
From basic liability coverage to larger policies, homeowners insurance can vary in how it covers a home’s structure and the personal property inside. Homeowners insurance can vary from simple liability coverage to larger policies that cover your personal property or the structure of your home. There are also special policies that protect your house in case of fire, flood or earthquake.
Meet with a qualified insurance agent from Insurance Quotes Salt Lake and find out what type of home insurance best fits your needs.
Common Policies
Insurance agencies generally offer the following types of policies:
HO-1 Policy
An HO-1 homeowners insurance policy provides you with essential coverage. It covers damage caused by certain events, including fire, lightning, windstorms, hail and explosions. These policies also usually cover damage triggered by civil unrest and volcanic eruptions. Since this policy is very limited, many states don’t usually offer it to customers.
HO-2 Policy
This policy secures you from 16 types of events, including damage from theft, vandalism and riots. It also covers hail damage, windstorm damage and broken glass, as well as destruction caused by smoke and any damage induced by a vehicle. If your pipes rupture or your roof caves in, this policy will also protect against that.
HO-3 Policy
The HO-3 policy covers all possible reasons of damage to your property and possession loss, with the exception of specifically listed events. Exclusions differ from policy to policy, so read yours conscientiously to comprehend what is going to be left out.
Basic vs. Extra Coverage
Simple homeowners insurance typically covers the money it will cost to fix the impaired property, as well as the replacement costs if your home is wrecked. 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. Extra coverage will protect you against earthquakes and floods, as well as deal with the loss of private property like jewelry, computers and cameras.
Get Homeowners Insurance Now
Protect your beloved home in Salt Lake City with a homeowners insurance policy. Contact us now for a qualified list of local rates and policy details.
