When looking at insurance for your new home, you may have many questions. Even worse, each plan is different, so it can be hard to figure out what you need and don’t need. Before you even get started, Allied Insurance Agency in Amarillo, TX encourages you to study the following:
Types of Homeowner’s Insurance
HO-1, otherwise known as basic form insurance. This protects your dwelling only.
HO-2 is broad form insurance. This is better than basic because it also covers your personal possessions and additional perils.
HO-3 is the most common type of homeowner’s insurance. It covers the dwelling, your belongings, and even liability. This will protect you if anyone is injured at your home.
HO-4 is commonly known as renter’s insurance. It covers your possessions and liability, with no dwelling.
HO-5 is comprehensive insurance. This is usually only given on homes that were just built. It covers more than the typical homeowner’s insurance policy.
HO-6 is also known as condo insurance. It covers the condo, as well as passions, and liability.
HO-7 is insurance for mobile homes. It is similar to the standard homeowner’s insurance, but for mobile homes.
HO-8 insurance is for homes that are older and historical. If you are looking at an old home that has some character, you might need this type of insurance.
Homeowner’s insurance comes in many forms, depending on what they protect (and what you need). If you are a renter, you won’t need to worry about the building, just liability, and your things. If you have a condo or a mobile home, there is specific insurance for each of them.
In order to get the right insurance, you need to talk to a professional. Don’t hesitate to contact us today at Allied Insurance Agency in Amarillo, TX.