Just as you can choose different types of houses, there are different policies for homeowners insurance in Huntsville, TX. Because of this, it is best to choose which one is best for you. Generally, the type of home you own and the type of coverage you need are determining factors.
Knowing which of the eight types of policies to choose involves understanding each one. The following is an overview of three insurance policies.
Special Form
The HO-3, also known as the special form, is the most common type of policy for single-family homes. With this homeowners insurance policy, your home and personal property receive open-perils coverage for everything except the exclusions listed on your policy.
Basic Form
The HO-1, or basic form policy, provides actual cash value for losses to your home and personal property. Coverage under this type of homeowners insurance in Huntsville, TX includes damage or loss from perils such as:
• Explosion
• Fire or lightning
• Smoke
• Theft
• Vandalism
Broad Form
An HO-2 insurance policy, or broad form, is considered an upgrade from an HO-1 policy. Replacement cost dwelling coverage is included in this type of policy. In addition, your personal belongings are covered at actual cash value.
In addition to the perils in a HO-1 policy, you are also covered for damages caused by:
• Power surge
• Freezing
• Built-in appliances
Speak with Insurance Experts for More Guidance
Most likely, you still have questions about which homeowners insurance in Huntsville, TX will cover your needs and concerns. Compare quotes and speak with a licensed insurance expert to get answers.
