With all the different types of homeowners insurance, the process of choosing a policy can be confusing.
To help, here’s a basic guide to some major types of insurance policies.
HO-1 insurance is the simplest of policies offered. It only covers your home structure and a few home features.
It also covers attached structures such as garages and patios. This policy offers funding in the case of storms, fire, wind damage, theft and a few other peril categories.
HO-1 insurance doesn’t cover personal belongings, however. So if your computer or furniture is damaged during a storm, replacement cost would need to be covered by another policy.
An HO-2 insurance policy offers a wider range of coverage. It provides financial security to home structure and personal property.
An HO-3 home insurance policy is the most common homeowners insurance type. In addition to coverages seen with HO-1 and HO-2 policies, it covers additional items. These include liability, payments for medical bills and living expense stipends.
HO-4 is a policy offering protection to the personal property of individuals renting a space. It is not technically a homeowners insurance policy, but important for renters to have.
Consider your home needs when purchasing homeowners insurance. Protect your property and belongings with the right insurance.
Over 30 Years in Business, Rainbow Realty Group is a woman-owned and operated real estate agency located in Connecticut. RRG’s main office is located in Rocky Hill, but spans throughout Connecticut, including, but not limited to, Glastonbury, Windsor, Bloomfield, Windsor Locks, Manchester, South Windsor, East Hartford, Rocky Hill, and Vernon. Katrina also has a team of other dynamic agents. Not only do they provide support in four different languages (Spanish, Hindi, Urdu and Punjabi), but are ready to work with you around the clock to get the job done. No hard sell here, just great service. Be sure to check out Rainbow Realty Group.
