Homeowners Insurance

Homeowners Insurance is a type of insurance that protects a homeowner against property and casualty perils. The cost of a homeowner’s policy depends on what it would cost to replace the house. There are several standard types of homeowners’ policies, including HO-1, HO-2, HO-3, HO-4, HO-5, HO-6, and HO-8. The most common policy is HO-3, which is designed to cover all aspects of the home, structure and its contents as well as any accidents or injuries that occur on the premises. Possessing a homeowner’s policy is completely optional.

Building and Contents

A homeowner’s insurance policy will cover the building and the contents within the home. You need to insure your home for at least 80% of the full replacement cost at the time it is destroyed or damaged, if you want to collect the full replacement cost. The standard homeowner’s policy will cover damage to the home from both natural disasters (lightning, hail, rain, windstorms, fire, etc.), as well as man-made disasters (vandalism, riots, explosions, theft, cars, etc.).

House Insurance

House insurance is more commonly known as homeowners insurance. House insurance is a type of insurance policy that covers losses occurring to one’s home, its contents, additional living expenses, as well as liability insurance for accidents and injuries that may happen in the house. However, the standard homeowner’s insurance policy does not cover floods, earthquakes, war, or “Acts of God”. To cover these events, you will need to add an insurance rider to the house insurance policy.

Earthquake Insurance

Earthquake insurance is a type of property insurance that covers damage caused to a property by an earthquake. The standard homeowner’s insurance policy usually does not include earthquake coverage. If you live in a high earthquake area, you should definitely consider adding earthquake insurance to your homeowner’s policy. Most earthquake policies have a high deductible and rates depend on your house’s location and the probability of an earthquake in that area.

Fire Insurance

Fire insurance is a type of property insurance that covers damage caused to a property by a fire. The standard HO-3 homeowner’s insurance policy includes fire coverage. Fire coverage is required by all mortgage companies that lend money to home buyers. The insurance premium you pay will be affected by the house’s location, if there is a fire station nearby, if the house is equipped with fire alarms and fire sprinklers, etc.

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*FreeHomeInsQuotes.com is not a homeowners insurance company and cannot issue homeowners insurance policies. In addition, we are not associated with the homeowners insurance companies that are profiled and FreeHomeInsQuotes.com makes no representation, express or implied, that you will receive a quote from any specific homeowners insurance company.