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.
Barbara started in Real Estate in 2006 after another Realtor told her that her personality made her a perfect fit for the industry. There is no doubt that Barbara’s lively personality and warm heart make her an awesome Realtor. Barbara was born in Italy and speaks fluent Italian. She grew up in Medford and eventually moved to Everett where she resides today. Her personality combined with her background in home insurance and customer service make her experienced in multiple facets of Real Estate and willing to work hard to help her clients achieve their goals. In my spare time I volunteer at animal shelters and foster dogs until we find their forever home. I am also proud to say that with every transaction I complete, a portion of my commission is donated to a local animal shelter.
