Types of Homeowner Insurance

There are 6 different types of homeowners insurance in general that are consistently utilized. Of these HO-3 is the most usual policy then it is followed by HO-4 and HO-6. Others less used, but still important, are HO-1, HO-2 and HO-5. Everyone is described below:

HO-1

A limited policy that offers varied degrees of coverage but includes items that are specifically included in the policy. These may be used to include a valuable object in the home, such a painting or certain types of jewelry.

HO-2

Similar to HO-1, HO-2 is a limited policy in that it will cover only specific portions of a home against damage. The coverage is ordinarily a "named perils" policy, which lists the cases that would be covered. As above, these factors must be spelled come in the policy.

HO-3

This policy is the most common one written for a owner and is designed to cover all aspects of the home, its structure and it contents. Also includes any liability that will arise from daily living. This includes visitors in the home that might encounter an accident or even injury on the premises. Covered aspects of liability must be clearly spelled out in the policy to insure proper coverage. The coverage is ordinarily called "all risk".

HO-4

This is unremarkably referred to as renter's insurance. Similar to HO-6, this policy covers those aspects of the living accommodations and its contents not specifically covered in the blanket policy written for the renter's complex. This policy can, as well, cover liabilities arising from accidents and injuries for guests and passers-by up to 150' of the renter's complex.

Extremely low in cost and high in coverage, this is an extremely recommended policy for anyone renting an apartment

HO-5

This policy, similar to HO-3, covers a home (not a dwelling or even apartment), the owner and its possessions. Liability that might arise from visitors or even passers-by. This coverage is differentiated therein it covers a wider scope and depth of incidents and losses than AN HO-3.

HO-6

As a form of supplemental homeowner's insurance, HO-6, a.k.a. a Condominium Coverage, is designed especially for the owners of condos. It includes coverage for the share of the building closely-held per insured and for the property housed in that of the insured.

Designed to span the gap between what the homeowner's association can cover in a blanket policy written for associate entire neighborhood and those things of importance to the insured. Occasionally the HO-6 covers liability for residents and guests on their private property. The liability coverage, contingent to the underwriter, premium paid, and more factors of the policy, can cover incidents up to 150' from the insured property, all valuables in the home from theft, fire or even water damage or even more forms of loss.

It's significant to read the Associations By-laws to determine the aggregate amount of insurance needful on your lodging.

Extremely low in cost and high in coverage, this is a extremely recommend policy for anyone owning a condo.

Copyright 2005

Fern Kuhn, RN Specializing in Diabetes

http://www.diabetestestingcenter.com

http://www.homeinsurancehelp.info

http://www.healthinsurancecenter.info

You may reprint this article as long as you keep the links active.

---

Filing Homeowners Insurance Claim Forms: What Steps to Take

Filing a homeowners insurance claim can be done with ease... Read More

Natures Fury - Time to Check Your Insurance

The communities of Exmouth and Moora in Western Australia don't... Read More

The Many Benefits of Travel Protection Plans

Many people purchase insurance thinking I want full coverage and... Read More

Consumer Driven Health Plans [ CDHP ]

Do you know that skyrocketing health care costs have been... Read More

Car Insurance Online ? Benefits of Applying for Auto Insurance Online

Drivers are applying for auto insurance online not just for... Read More

Should You Have Higher Deductibles On Your Coverage?

What is a deductible? A deductible is the amount you... Read More

What is Home Insurance?

Home Insurance is designed to provide you with financial protection... Read More

What Is Permanent Life Insurance?

Unlike term life insurance, permanent insurance policies such as universal... Read More

Is Your Auto Insurance Company Rated?

Several national rating institutions rate insurance companies. Do coverages, rates,... Read More

How To Best Handle Health Insurance Plan Changes

Many economists have suggested and recent economic data indicates that... Read More

Keys To Controlling The Future of Health Care

Several key changes are necessary to get control of the... Read More

Travel Insurance Might Be Just What You Need!

Travel insurance is something that many people haven't considered. Sure,... Read More

Term Life Insurance on Your Business Partner

Life insurance is something we often take out to protect... Read More

What Should I Do About Billing Problems When Using HSA Money?

If you run into a billing problem or misunderstanding with... Read More

What is Car Insurance?

Car Insurance is compulsory in the UK. You are required... Read More

Handling Your Motor Vehicle Accident With Your Own Insurance Company

This "How To" article is crucial, up-to-date information concerning what... Read More

Disaster Decision - Do You Need Insurance?

The expenses involved with owning a home can be overwhelming... Read More

Finding a Discount Car Insurance Broker

Discount car insurance brokerTimes past finding a discount insurance broker... Read More

Car Insurance No Claims Bonus Explained

No Claims Bonus is a term used to describe the... Read More

Alternate Risk Transfer (ART) - Insurance Strategies

Risk ManagementAlternate Risk Transfer is a fancy way of saying... Read More

Global Warming: Why Consumers and Insurers Are Getting Hot Under the Collar Over Life Insurance.

Global warming may have been lurking on our horizon for... Read More

UK Young Driver Motor Insurance - Build Your Own No Claims Bonus or Insure through Your Parents

For may young drivers, affording the costs of motor insurance... Read More

Senior Life Settlement-Uses and Applications

In a recent article in the National Underwriter (April, 2005)... Read More

Life Insurance Benefits

Life Insurance is a legal contract between you and a... Read More

Cheap Auto Insurance Quotes ? Tips For Getting The Lowest Rate

Finding auto insurance quotes online is easy, but finding the... Read More

Hidden Ways to Cut Car Insurance

Consumers are countering rising gasoline prices and other vehicle operating... Read More

Choosing the Best Life Insurance Option for You

Life insurance in the UK is becoming more and more... Read More

Why Would I Need Auto Insurance Specialists?

If you do not understand the way that auto insurance... Read More

5 Steps To Cheap Car Insurance Premiums

Although car insurance is compulsory, it's not necessary to pay... Read More

Why Buy Life Insurance?

Love. Yes, that's right. Love for your spouse, children, family,... Read More

Long Term Care Insurance - Low Cost Alternatives For Budget Conscious Seniors!

With Nursing home Cost's running $4,000 to $6,000 a month... Read More

Travel Health Insurance - Understand the Benefits

If you're planning an overseas trip, you need travel health... Read More

Why Dont Insurance Companies Reward Us for Being Healthy?

Insurance is always a gamble, a bet actually.You are betting... Read More