Home vs homeowners insurance

Message Author
ampm-bookmark
delicious-small Add to delicious
yahoomyweb-small Add to YahooMyWeb
blinklist-small Add to BlinkList
PostPosted: Mon Sep 12, 2011 7:06 am   Post subject: Home vs homeowners insurance  

WhatÂ’s the difference between homeowners insurance and home insurance? My sister told me that home insurance only protects the house whereas homeowners insurance includes liability coverage. Is this true?


_________________
Register Now to have your Insurance queries solved.
perplexed
Guest







PostPosted: Mon Sep 12, 2011 7:26 am   Post subject:   

It might sound different but technically both mean the same thing and are not really different types of insurance.


_________________
Register Now to have your Insurance queries solved.
B
Guest







PostPosted: Tue Sep 13, 2011 2:16 am   Post subject: Homeowners Policy vs. Dwelling Fire Policy  

There are two main types of policies that provide coverage for a house- a Homeowners policy or a Dwelling Fire policy. There are multiple variations of each, but the most common Homeowners form is the HO-3.



Approximately 75% of all homes in the U.S. are covered by an HO-3 policy. It provides coverage for the physical dwelling (building/home), personal property (stuff inside the home), liablility for anyone injured on your property, medical payments for anyone injured on your property and various other coverages depending on your state and local requirements.



A Dwelling Fire policy only covers the physical structure (house), limited owner's property and usually includes liability for anyone injured on the property. It is commonly referred to as a "Landlord's Policy" because it is primarily used to cover rental homes. Unlike a Homeowners policy, it doesn't cover the contents of the home. That is the reason renters need a Renter's Policy to cover their possessions.



A Homeowners Policy is definitely the preferable choice to protect your home. I highly recommend purchasing one with a Personal Property Replacement Cost endorsement AND a Guaranteed Home Replacement Cost endorsement. The best policies have both automatically included, but most require you to add it to the policy (and pay a little extra, which is well worth it)!



Good luck!

IgoZoom
New member
Leave a quick message



Joined: 08 Jan 2011
Posts: 14

Location: Canton, GA
2.98 Dollars($)

Quick Reply
Your Name
Subject
Message body
All times are GMT
Page 1 of 1


Get a Quote
Ask Community Experts

flash plugin

Quick Links

Must See

Community

Hot topics in forums

Latest in blogs

    Connection Error: Connection refused