Home Property Insurance
How much your home property insurance coverage will cost is not the only thing to consider when you're shopping for insurance.
You need to purchase the right type of home property insurance. You need to identify the proper level of protection your home property insurance can provide. You need to know if there are special provisions included in your home property insurance. These special provisions will provide coverage for your valuables like jewelry, computer, and other personal belongings. In addition, you might also need additional coverage in your home property insurance against such catastrophes as earthquakes, floods, windstorms, fires, and the like.
Home Property Insurance and Mortgage
Most lending institutions require home property insurance before approving your mortgage application. Lenders will use this as a legal underwriting and guaranty.
Home property insurance has several basic policy types. Below are a few of these home property insurance policies.
HO-1 Home Property Insurance Policy
This type of home property insurance policy provides protection for homeowners. The coverage offered by an HO-1home property insurance policy includes the house and possessions against 11 different perils.
HO-2 Home Property Insurance Policy
HO-2 home property insurance policy is also known as broad homeowners' policy. This type of home property insurance policy covers the house and its contents against 17 perils. HO-2 home property insurance policy has premium running about 5 per cent to 10 per cent more than an HO-1 policy.
HO-3 Home Property Insurance Policy
Also called special homeowners home property insurance policy, HO-3 home property insurance policy covers all perils except those that were specifically excluded in the contract. The cost for an HO-3 home property insurance policy is 10 per cent to 15 per cent more than an HO-1 policy.
HO-4 Home Property Insurance Policy
This type of home property insurance policy is specifically targeted to rental property owners. Covering 17 stated perils, HO-4 home property insurance policy includes liability coverage but does not insure the dwelling itself.
HO-5 Home Property Insurance Policy
This type of home property insurance policy covers practically all damages except those caused by earthquakes, wars, and floods. HO-5 home property insurance policy is also known as extensive homeowners' policy.
HO-6 Home Property Insurance Policy
HO-6 home property insurance policy is for owners of co-ops or condominiums. This type of home property insurance policy provides coverage against perils state in the HO-1 policy. The only difference is that HO-6 home property policy only pays for repair costs or actual cash value. Replacement cost may be covered also but it will make the policy costly.
Property Insurance
Citizens Property Insurance Corporation
Michigan Basic Property Insurance
Property Insurance
Unitrin Property And Casualty Insurance
... Property and Casualty Insurance Group is among the top ten writers of insurance policies in the specialty lines. The special automobile insurance under Unitrin Property and Casualty Insurance Group SLI is designed specifically for drivers whose driving experience limits their ability to obtain the standard ...
... allows libraries to take advantage of recent technological developments and use RFID property insurance. With the RFID tag system provided by Library Systems, property insurance is increased since librarians can do more with fewer resources. The RFID property insurance system of this company also has ...
... monetary compensation for the damages or losses to your property. Say, for example, there was a fire and your home was destroyed. To cover the cost of reconstruction, you file for a property insurance claim. By approving this property insurance claim you have made, the insurance company agrees to pay ...
... personal property insurance policy is recognized at over 1000 colleges and used in several universities in the United States. NSSI's personal property insurance plan protects the student's belongings whether he lives on campus or not. Also included in their property insurance policy is $1,000-automatic ...
Travelers Property Casualty Insurance
... comprehensive coverage in their Auto Policy to pay for the damages to your car caused by fire, theft, hail, vandalism, et cetera. Special liability clauses have also been added to the Travelers Property Casualty Insurance Auto Policy to protect you from claims or lawsuits. Travelers Property Casualty ...