When you buy your first house, you’re making a significant financial and emotional purchase. Home insurance can be a great benefit to make sure that you are covered in the scenario that your home is destroyed or damaged.
From simple liability coverage to more comprehensive policies, homeowner’s insurance can vary in how it covers the structure and personal property in your house.
Your insurance company will make a big difference in determining how your home insurance coverage functions.
Homeowner’s Insurance Policies
Insurance Quotes Salt Lake connects you to agencies that offer the following categories of policies:
HO-1 Policy
An HO-1 homeowner’s insurance policy provides you with essential coverage. It covers destruction caused by specific incidents, including fire, lightning, windstorms, hail and explosions. These policies also usually cover damage instigated 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 protects you from 16 types of events, including the resulting destruction from vandalism, burglary or civil tension. 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 erupt or your roof disintegrates, this policy will also take care of that.
HO-3 Policy
HO-3 policies cover all possible reasons of damage to your property and asset loss, with the exception of specifically listed events. Exclusions vary from policy to policy, so go over yours carefully to recognize what is going to be excluded.
Basic vs. Extra Coverage
Simple homeowner’s insurance typically covers the money it will cost to fix damaged 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 fires and earthquakes, as well as covering the loss of private property like jewelry, computers and cameras.
Get in Touch
For a complete list of the best rates and policy details available for your South Jordan, UT home, contact Insurance Quotes Salt Lake today. Our professional home insurance brokers know it’s important to keep your residence safe and we’re ready to help you do that.
