Types of Homeowners Insurance and How to Get the Best Rates

Did you know that several types of homeowners insurance are available to you? So what's the best type of insurance for your needs and where can you get the best rate?

Homeowners Coverage Forms

The common types of homeowners insurance coverage include:

* Basic Coverage (HO-1) protects homes, detached structures, and personal property from losses caused by fire or lightning, wind or hail, explosion, riot or civil unrest, aircraft, vehicles, volcanic eruptions, smoke, theft, vandalism or malicious mischief, and self-damaging instances (such as part of a building falling and damaging another part of the building).

* Broad Coverage (H0-2) adds additional perils to the HO-1 coverages, such as snow, falling objects, electrical surges, and freezing of or accidental discharge of water from a household appliance or from the plumbing, heating, or air-conditioning system.

* Special Form (H0-3) protects your home, detached structures, and personal property from all perils except flood, earthquake, war, and nuclear accident. It is the most commonly purchased Homeowners coverage.

* Tenant's policy (H0-4) insures a renter's household contents and personal possessions against the same perils as an HO-2 policy.

* Condominium Coverage (H0-6) insures a condo owner's household contents and personal possessions against the same perils as an HO-2 policy.

* Older Home (H0-8) covers older homes with historic value. This type of policy pays for repairs of insured items or offers actual cash value rather than rebuilding or replacement costs.


Where to Get the Cheapest Rate Quotes

To find the best rates for any type of homeowners policies, you need to compare quotes from several companies. The fastest and easiest way to do this is through an insurance comparison website. On these websites, you fill out a form with your home information, and then you will get quotes from different A-rated insurance companies. You can then compare those quotes and decide which company you want to use for your insurance.

Visit http://www.LowerRateQuotes.com/homeowners-insurance.html or click on the following link to get homeowners insurance quotes from top-rated companies and see how much you can save. You can get more tips and advice in their Articles section, and get answers to your questions from an insurance expert by using their online chat service.


The author, Brian Stevens, is a former insurance agent and financial consultant who has written numerous articles on homeowners insurance.