Homeowner insurance is a package policy that provides financial protection< for your home and belongings against disasters. The standard homeowners policy provides coverage for the structure of your home, your personal belongings, liability protection and additional living expenses if your home becomes unliveable due to a disaster for which it is insured.
Different types of homeowners insurance policies include HO-1 that provides limited coverage. It is no longer available in most states now. HO-2 provides protection against 16 types of disasters. HO-3 provides protections against all disasters except those specifically excluded. HO-8 is a policy designed specifically for older homes. HO-6 is a policy for condo owners. It provides protection against all 16 disasters. HO-4 is a Renter’s policy, specifically for those living in rented accommodation. To read more on these policies, click here.