When you think about what your dream home will be like, what do you see? A house in the suburbs with a white picket fence? A stylish penthouse apartment with a stunning view? A secluded cottage nestled in nature? A cozy farmhouse surrounded by bountiful land?
No matter what you want from your perfect home, I bet you’ve never dreamt of it being destroyed by fire, devastated by a hurricane, or ruined by any other disaster.
Even if you are already living in your perfect home, you are similarly unlikely to have ever spent a significant amount of time considering its destruction.
Of course, you wouldn’t want to think about something so terrible, and it stands to reason as it is not logical to think about your home in this way, especially when you have put time and effort into making it your haven. When you have worked to lovingly create a space that you love, having something happen to this would be a catastrophe. However, once you are settled into your home, you will appreciate having a roof over your head and have to consider the possibilities that can arise to prevent this from being the case.
By implementing appropriate home insurance, you can gain peace of mind. You will be able to relax in the knowledge that you can rely on an insurance policy in the event of an insured risk occurring and causing damage to your home.
This is why it is important to think carefully about what you require coverage for when you are seeking a quote. Though most insured risks are automatically covered under a standard homeowner’s policy, some providers will also offer optional risks that will are prepared to cover for an additional premium.
The risks typically insured under a standard homeowner’s insurance policy include:
However, just because these risks relate to the structure of the building, it does not mean that this is the full extent of what is provided for within the policy; it will also provide coverage for:
Bear in mind that standard insurance policies will contain exclusions, namely, risks that are not covered, and it is important that you check your policy documents to make yourself aware of these; they include:
There are many more risk types that could befall a property and these can be taken care of by ensuring that you have the right type of policy. Therefore, it is important to recognize the different types of policy available, which is mostly the same throughout the country, though some states make changes and create unique versions that are differentiated with names like “deluxe”.
The policies fall into the following categories:
Of these, HO3 is the most popular and covers a broad range of risks, which include:
At Econosurance, we know that the best insurance is that which is suited to your needs, which we will help you determine before finding the right policy for you. We provide coverage for a range of property types including:
As part of the process of deciding on the type of coverage you need, it is important to understand exactly what you’ll get in terms of payment following a claim. This is calculated on the basis of one of three types:
The terminology can be daunting, but – don’t worry – Econosurance is here to help. Call us at 800-335-0633 or complete our online form for a quote and see how we can save you money while getting you the policy you need.