Homeowners insurance provides protection against disasters like tornados, lightning, wind, hail and fire. Homeowners policy do exclude coverage for flood and earthquake. These disasters can be covered with a separate policy or an endorsement to the homeowners policy.
Homeowners insurance is a package policy which includes the following coverages:
• Dwelling Coverage (protects the home and any structure that is attached)
• Other Structures Coverage (protects structures not attached to the home)
• Personal Property Coverage
• Loss of Use
• Personal Liability
• Guest Medical
Homeowners Insurance optional coverages, here are a few examples:
• Replacement Cost on home
• Replacement Cost on personal property
• Equipment Breakdown
• Identity Theft
• Water back up and sump discharge
• Fire Department Service Charge
• Refrigerated Property
• Sinkhole Collapse
Types of homeowners policies:
• HO3 - Primary homes, seasonal and secondary homes
• HO6 - Condos
• HO4 - Renters
• DF3 - Rental dwelling, vacant dwellings
It is important to know that homeowners insurance is meant to cover unexpected damage, not routine maintenance. Ask your agent to talk about what is covered and be sure to read your policy so you know exactly what's included and what is not.
Things to consider and questions to ask your agent
Here are few things to discuss with your agent that will influence your decisions.
- How much will it cost to rebuild my house and replace my belongings if they are damaged or destroyed? (Ask your agent to talk you through your home's features and the things you own so you can make an informed decision about coverage.)
- Does the insurance company have a good reputation for customer service? Is it known for paying claims fairly and promptly?
- What discounts are available? (Ask about multiple policy, security system and fire resistance discounts.)
Thank you for your interest in Carolina Underwriters Insurance if you are ready to begin your home insurance quote click here. If you have questions and would like to speak to one of our insurance professionals please call us at 704-849-8080 or 800-418-9092 or via email.