Type of Homeowners Insurance

Type of Homeowners Insurance

Home insurance is necessary for anyone who owns a home to protect their investment. A good home insurance policy will protect the homeowner against damages and losses of their property. Homeowners want to make sure they get the best price for their insurance. To do this, they can call for homeowners insurance quotes in Decatur, GA.

Types of Insurance

Most home insurance policies allow homeowners to pick and choose which type of coverage fit their needs. The type of coverage options can affect the homeowners’ insurance quotes in Decatur, GA.

HO-1 is a limited insurance policy that only covers about 10 basic incidents. This type of policy is the most affordable. It does not include any personal liability in case someone is injured while on your property. It also does not cover the contents in your home. If your home is mortgaged, this policy does not provide enough coverage.

HO-2 is a basic policy that covers 16 basic incidents. This policy also has a low premium.

HO-3 is a popular home insurance policy that covers many disasters. It can also cover any attached dwellings such as a carport or deck. It includes a personal liability coverage in case someone is injured while on your property. Note, this policy still does not cover everything.

HO-4 is insurance for renters. It covers 16 incidents and only covers your personal items in the rental property. It also includes liability insurance.

HO-5 is a comprehensive version of the HO-3 insurance. It is usually only available a new home or a well-maintained home within a fire district’s boundaries.

HO-6 is insurance for a condominium and is similar to renters insurance.

HO-7 is similar to HO-3 but is coverage for a mobile or manufactured home.

HO-8 is insurance for older homes. The coverage is similar to HO-3 but has some adjustments for older homes. This insurance is usually for historic homes and registered landmarks.

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