Home insurance insures your home, whether it’s a house, condominium, or apartment.
The biggest question with home insurance is how much do you need? Keep in mind that you aren’t just insuring the structure, but you are also insuring the contents/personal property of your home. In the case of a condo, you aren’t insuring the exterior structure, just the interior structure from the walls in.
In addition to covering your home and contents, home insurance also provides liability coverage in case someone is injured on your property.
Usually, when you buy a home, insurance is a requirement for your mortgage. That’s because lenders need to protect their investment in your home in case your house burns down or is badly damaged by a storm, tornado or other disaster. If you live in an area that is likely to flood, the bank will also require you to purchase flood insurance.
Types of Home Insurance Policies
Homeowner Insurance (HO-3)
Renters Insurance (HO-4)
Condo Insurance (HO-6)
Dwelling and Landlord Insurance
Builders Risk Insurance
Explanation of Coverage Options
12 Ways to Lower Your Homeowner Insurance Costs