Owning a home without insurance can be very exorbitant. If damages occur during bad weather or natural disasters, the responsibility will lie with you. Home insurance may be able to replace your personal belongings or help you if you are liable for damage to someone else’s property or an injury sustained on your property. Similarly, you could also get coverage to deal with court fees, food and lodging if you have to exit your home. Discoursing with an insurance agent can help you determine which kind of insurance best fits your life and budget.
Purchasing a home is a huge emotional and financial investment and it is essential to keep the investment protected in the case of wind or water damage caused by severe weather. Home insurance can be a great benefit to ensure that you are protected in case your home is destroyed or damaged.
From basic liability coverage to larger policies, homeowner’s insurance can vary in how it covers the structure and your personal property in your home. Home insurance can vary from simple liability coverage to more comprehensive policies that provide coverage for your personal property or the structure of your house. There are also special policies that protect your home in case of natural disasters or severe weather like flood, fire or earthquake.
Weather Related Damage
The most common types of weather damage include:
- Hail damage
- Roof damage
- Water damage
- Freezing pipes
- Fallen trees
- Ice dams on the roof
- Weight of snow and ice causing roof damage
- Wind damage (fallen trees or shingles/bricks falling from buildings and roofs)
- Loss or displacement due to power failure
- Flooding caused by snow melt, sudden thaw or excessive rainfall
- Water infiltration
What your policy covers depends on the insurance brand that you choose. To find out what type of homeowner’s insurance best suits you, speak with a qualified insurance agent from Insurance Quotes Salt Lake now.
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 basic coverage. It takes care of destruction caused by certain incidents, including fire, lightning, windstorms, hail and explosions. These plans also usually cover damage instigated by civil disturbance and volcanic eruptions. Since this policy is very limited, many states no longer offer it.
HO-2 Policy
This policy secures you from 16 types of events, including the resulting destruction from burglary, vandalism or civil tension. It also covers hail damage, windstorm damage and broken glass, as well as destruction caused by smoke and any damage contracted by a vehicle. If your pipes rupture or your roof disintegrates, this policy will also protect that.
HO-3 Policy
HO-3 policies cover all possible reasons of damage to your property and asset loss, with the exception of precisely listed events. Exclusions differ from policy to policy, so read yours carefully to recognize what is going to be excluded.
Basic vs. Extra Coverage
Fundamental homeowner’s insurance typically takes care of the money it will cost to fix compromised 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. Supplementary coverage will defend you against natural disasters like earthquakes and floods, as well as covering the loss of private property like jewelry, computers and cameras.
