Monthly Articles archive

The Different Types of Homeowners' Insurance Policies

There are many different types of home insurance policies available today. However, in reality, there are only 7 different types of ISO-certified home insurance policies. Each insurance company just adds onto the policy and calls it their own. Here are the 7 different types of ISO-certified home insurance policies.

HO – 1

HO - 1 is the most basic home insurance policy that covers only basic perils such as lightening damage or theft. This is ideal for people who are looking for affordable coverage.

When Can An Insurance Provider Cancel Your Policy?

Insurance companies guarantee at the time of making the contract that they will provide coverage when you need it. This is true for homeowners’ insurance as well. However, there are times when the company has to cancel the policy. More often than not, this happens when the company feels you are trying to take undue advantage of the policy and benefit from it a way you are not legally allowed to.

Perils and Hazards Your Home Insurance Policy Does Not Cover

The reason why people get home insurance is to avoid having to pay for repairs and other costs should their home suffer any form of damage. Yet, standard home insurance policies don’t provide adequate coverage for certain perils and hazards. This does not mean that you should give up the idea of getting insurance altogether. Most of the possible damages that can lead to financial hardship for you are covered by the policy. It is just that some perils and hazards require you to buy additional policies.