Choosing your Homeowners Insurance Policy Part 2

Family Life Insurance

In our last article about home insurance policies, we discussed the primary four types of home insurance and renters’ insurance. As you read through those options, make sure to follow along and mark off which needs are essential for your home situation. The biggest mistake that homeowners make with insurance is assuming that insurance is a one size fits all. There are eight different types of home insurance that can span a multitude of home needs and specific living situations. Homeowner needs vary all across the nation based on extreme weather and climate. Taking a deeper look into the area you live in, other factors like location and crime rate may affect the policy that you choose.

Home Insurance Policy: HO-5

Knowing that there a lot of potential issues that could arise in any location, purchasing a specific policy to your issues is crucial. For example, the best coverage for areas with extreme weather would be the comprehensive form policy or the HO-5. This policy will cover anything from earthquakes, water damage, insect infestations, to internal threats like mold or rot. This policy would be able to cover the needs of any resident around the world. You will be happy to know that this policy can also cover a certain amount of your personal belongings, more than the average HO-3 policy mentioned in the last article.

HO-6 Policy

Condo owners are just as much at risk or losing their home or having damage caused to their unit from any of the sources listed above. When you own a condo, there are some benefits that homeowners do not have access to. You usually do not have to worry about shoveling snow, general maintenance, insects, etc. There are a lot of positives, but condo owners also have to get a policy that covers their specific needs. An HO-6 policy is specifically for condo owners and covers walls, ceilings, and the unit’s specifics. Another common home option for people is a mobile home, these have their own policies. This HO-7 policy is comparable to that of an HO-3 coverage policy.

HO-8 Policy

The last type of insurance is an HO-8 that covers the needs of older homes. A new home buyer and homeowner would not face issues that a buyer of an older home would face. A lot of older homes come with requirements for insurance coverage. Here at Insuravita we know how hard it can be to decide which insurance to choose for your family. It is an overwhelming process and can be relatively stressful. Insuravita has accumulated the information for you, it is as easy as one, two, three and you can have your quote estimate. Having this information at your fingertips gets you one step closer to protecting your home. Our hope is that his information eases some of the burden and helps you make the right choice for you!

Auto Listings
Motorcycle Listings
Life Listings
Health Listings
Home Listings
Small Business Listings

Leave a Comment





This site uses Akismet to reduce spam. Learn how your comment data is processed.

RECENT POSTS

The Healthcare Industry, Health Insurance, and Coronavirus

March 30, 2020

According to CNN, as of March 22, the number of deaths from coronavirus in the United States has risen to 377. As a result, governors in 5 states have issued…

Read More

Kobe Bryant’s Tragic Loss Reminds Us of the Fragility of Life

January 27, 2020

Kobe Bryant’s passing is a terrible tragedy. It’s easy to forget how fragile life is. Unfortunately, we can get caught up in the hustle and bustle. It is not uncommon…

Read More

Staying Healthy and Sane Amid Coronavirus Quarantine and Self-Isolation

March 21, 2020

Today’s world is one of anxiety, illness, and fear versus fact. The COVID-19, or Coronavirus, outbreak is quickly making its way around the world, impacting people in ways we never…

Read More

Home Insurance Premiums: Democratic Candidates Talk Effects of Climate Change

February 11, 2020

Climate Change is a term that hit the scene in 2006 with the release of Al Gore’s “An Inconvenient Truth”. Since then, the topic has been the subject of heated…

Read More

Home Insurance: Climate Change a “Hot” Topic at Final 2019 Debate

January 14, 2020

Climate Change is one of those buzz phrases that we hear all the time. The conversation has been happening for years, but it has been hard to get people on…

Read More

Guide to Open Enrollment: Making Sure You Are Insured for Next Year

December 3, 2019

‘Tis the season! That doesn’t just apply to the holidays, but also to health insurance. You have probably heard the phrase “open enrollment” tossed around either on the news or…

Read More

Life Insurance Needs Assessment: Top 5 Reasons You Need Life Insurance

November 24, 2019

We are all guilty of procrastinating every now and then. Especially when it comes to the somewhat morbid topic of life insurance. We all know that our death is an…

Read More

Health Risks and Insurance Costs of Vaping: Is It Really “Cool to Vape”?

November 14, 2019

For decades, smoking has been advertised as cool, sexy, and trendy. With the invention of the e-cigarette, tobacco companies did not stray from their tried and true marketing strategy. Plus,…

Read More