| Home insurance offers legal coverage, which | | | | for a property holder and his property. It also |
| protects the individual's property against any | | | | provides coverage for any causality, caused to |
| forms of damage. It also helps to replace, | | | | the guests or passers by. It claims to cover a |
| reconstruct or repair the damaged house. | | | | wider area, and more numerous incidents and |
| Different insurance companies offer different | | | | damages than HO-3. |
| types of home insurance policies. Most of the | | | | HO-6 Policy for Condominium Owners |
| home insurance policies can come with substantial | | | | It is a form of auxiliary home insurance policy. |
| discounts. | | | | Such types of home insurance policies are for |
| Different Types Of Home Insurance Policies: | | | | condominium owners. It offers coverage for |
| HO-1 - Least Significant Policy | | | | condominium owner's belongings as well as |
| It offers coverage for the first ten disasters, | | | | structural parts of the condominium. It covers |
| specifically mentioned in the policy. It can also | | | | against all sixteen disasters. |
| provide coverage for certain valuable things such | | | | HO-8 for Older Home |
| as painting, antic articles or fixtures for an extra | | | | This policy is specifically for older homes. It offers |
| fee. Currently, this type of policy has become | | | | reimbursements for the damage based on actual |
| obsolete in many states. | | | | cost value. This means, it pays to replace the |
| HO-2 - Limited Coverage Policy | | | | home or its belongings without deducting the |
| This policy also offers limited coverage. It offers | | | | depreciation value. Many times, it is difficult to |
| coverage for all sixteen prospective disasters. | | | | obtain full replacement cost policies for some older |
| This policy is specifically designed to provide | | | | homes. |
| coverage for mobile homes. | | | | Other Types Home Insurance Policies: |
| HO-3 Most Popular Policy | | | | Guaranteed replacement cost: |
| This is one of the most popular types of home | | | | This policy provides highest degree of protection. |
| insurance policies. It provides protection to home | | | | Nevertheless, it goes beyond the policy limit and |
| from all disasters. It protects structure as well as | | | | pays the entire cost to reconstruct the home |
| contents of the house. It offers coverage for the | | | | after any kind of disaster. This policy protects |
| liability that may evolve due to routine use. | | | | against the sudden rise in the construction cost. |
| It also covers the risk of guests who can | | | | Construction costs may rise due to shortage of |
| confront you with injuries or accidents on the | | | | constructing materials, after the disaster or any |
| premises. A mortgage lender always prefers this | | | | unexpected situation. However, this type of policy |
| type of policy. | | | | may not be available for the older homes. |
| H0-4 Tenant's Policy | | | | Extended replacement cost: |
| This policy is exclusively for tenants. It comes at | | | | This policy pays a particular percentage over the |
| very low cost with high coverage amount. It | | | | policy limit to reconstruct the home. For example, |
| offers coverage for the apartment and other | | | | people who purchase this policy for $100,000 can |
| household contents such kitchen cabinets. It claims | | | | get extra $25,000 of coverage. |
| to cover casualties, evolving from injuries or | | | | In all cases you will want to save money. You can |
| accidents of the guests or passers by up to 150 | | | | do easily by getting as many quotes as you can. |
| feet of the residence. | | | | To help you get started just look below at either |
| HO-5 Policy | | | | of the two sites listed. Getting a quote is a quick |
| It is similar to HO-3. This policy offers coverage | | | | and free way to save money today. |