Insuring your home is an enormous responsibility and researching the homeowner insurance policies available to you can be complex. Nevertheless, when it comes to investing in your safety and the safety of your home, you can always use a helping hand. Having a licensed insurance agent at your side can be just what you need to finding the perfect insurance policy for you.
Types of Homeowner’s Insurance
There are a number of policy types within the realm of Homeowner’s insurance. Knowing the right policy for you can take some research, but can be made easier, with the help of a knowledgeable insurance agent. In the meantime, read the following to learn more about common homeowner’s insurance policies. Homeowner policies do not protect you again losses from floods, earthquakes, mudslides, mudflows or landslides.
HO-3 Special Form Policy
This homeowner’s insurance policy is one of the most all-inclusive of all single-family home policies. The HO-3 policy, which is most often purchased, includes protection from any peril aside from a few excluded ones. Exclusions can differ depending on the policy and should be researched accordingly.
HE-7/21 Enhance Form Policy
This homeowner’s insurance policy is the broadest homeowner policy form available in NC. The policy includes protection from any peril aside from the excluded ones for both your dwelling and contents plus provides increased limits for things such as money, theft or jewelry and watches and water backup. Primary mortgage expense is included when there is a covered loss and you are unable to reside in your home.
HO-4 Renter’s Insurance Policy
The HO-4 policy covers tenant property within their building, but not the building itself. the HO-4 insurance policy will typically cover the same perils as the HO-2 policy. Like with any policy though, it is important to consider all the coverages included in your homeowner’s insurance policy.
HO-6 Condominium Insurance Policy
Like the HO-4 Renter’s insurance policy, the HO-6 will cover an individual’s property within their condominium unit. Insurance for the actual building should be taken care of by the condominium association policy.