Goodlad & Swank Insurance Agency
If your house is damaged or destroyed by flood, fire, or some type of natural disaster, you will be amenable for the entire cost of rebuilding your home. Home insurance may be able to restore your personal belongings or protect you if you are liable for damage to someone else's property or an injury sustained at your home. Similarly, you could also get coverage to handle court fees, food and shelter if you have to leave you home. Sitting down with an insurance agent can help you choose which type of insurance is going to be most effective.
When you buy your first house, you're making a significant financial and emotional purchase. Buying home insurance can be a great asset to ensure that you are protected in case your home is destroyed or damaged. From liability coverage to larger policies, homeowner's insurance can vary in the coverage for the home's structure and your personal property in your house. Your insurance agency will make a big difference in determining how your home insurance coverage works.
An HO-1 homeowner's insurance policy gives you essential coverage. It takes care of damage caused by particular instances, including fire, lightning, windstorms, hail and explosions. These policies 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 protects you against 16 types of events, including the resulting destruction from burglary, vandalism or civil tension. An HO-2 policy will take care of hail damage, windstorm damage and broken glass, as well as destruction caused by smoke and any damage induced by a vehicle. If your pipes rupture or your roof collapses, this policy will also cover that.HO-3 Policy
The HO-3 policy covers all possible causes of destruction to your property and asset loss, with the exception of specifically listed events. Exclusions differ from policy to policy, so read yours conscientiously to recognize what is going to be left out.Basic vs. Extra Coverage
Basic homeowner's insurance typically takes care of the money it will cost to fix damaged property, as well as the restoration costs if your home is destroyed. It also covers your belongings, but the contents of your household are only covered for up to 40 percent of the home's insured value. Extra coverage will shield you against earthquakes and floods, as well as dealing with the loss of private property like jewelry, computers and cameras.
Disclaimer: The information on this site is general in nature and does not alter the terms or conditions of any policy you purchase through a State Insurance Agent. Be sure to read your policy for a complete description of coverages, options, limits, deductibles and discounts. Not all policies or features are available in all areas. Coverage cannot be altered, changed or bound via this website.