Your home is often times the most important investment you can make, and protecting that investment is also important. Homeowners Insurance provides protection against damage or loss to your home, and there are several different types of Homeowners Insurance to protect your home and/or personal property. The dwelling is insured for damage due to fire, water damage, windstorm, hail, theft, vandalism, and other perils unless specifically excluded. The type of dwelling occupancy in your home determines the type of insurance you need!
A Homeowners Insurance Policy (HO3 or HO5) provides coverage for your dwelling, other structures, personal property, loss of use, and liability coverage. The dwelling must be occupied by the owner 100% of the time unless it is a secondary home for the insured.
A Dwelling Fire Insurance Policy (DP3) provides coverage for your dwelling, other structures, your personal property (optional), fair rental value, and owners/ landlord liability coverage. This type of insurance is needed when the home is occupied by tenants rather than the owner.
A Tenant Insurance Policy (HO4) provides coverage for a renter. This policy provides coverage for your own personal property and liability coverage (not the dwelling, since it is not owned by the renter).
A Condominium Policy (HO6) provides coverage for a condominium that is either owner occupied or rented out to a tenant. Coverage is limited to the interior dwelling and personal property. Liability is also included.
If your home is vacant, be sure to contact your agent, as coverage may be declined under any type of policy depending on how long home has been vacant. There are policies that can be put in place specifically for vacant homes.
For additional information, please be sure to contact Temecula Insurance 951-296-6833 or Carlsbad Insurance 760-795-2002.
