Published at Wednesday, April 18th, 2018 - 12:04:49 PM. Home Insurance. By Durand.
Home insurance refers to the coverage and protection of a private residence. It is not important if you live in a high rise apartment or in a farm somewhere, in an island or in the city. It is up to you to decide what you want to cover with your policy and the amount you have to pay will depend on the location and condition your home is in. If your home is located in an area where there is a lot of crime and break-ins, you might have to pay more than usual for theft and vandalism protection. If you are electric system is not in tip top shape, the insurance company will charge you more for fire protection or will ask you to fix it before insuring you.
Aside from the circumstances mentioned above, this type of home insurance policy will cover your house as well as the other valuable items inside it against 10 different types of peril as declared in the agreement. The thing with this type of policy though is that a lot of companies have already discontinued offering it because they found it to be redundant in many states. The second type of home insurance policy is the HO-2. This is actually a little more comprehensive than the first type of policy since it widened its coverage to as much as 16 different perils or causes of damage to your house as well as the fixtures and valuable items therein. For instance, this type of policy already covers the damages that are due to plumbing, heating, ice/sleet, power outages and AC. And if you happen to be situated in a freezing area, then this policy can be a good choice for you.
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