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An HO-2 policy is a type of homeowners insurance that only covers damages caused by perils specifically named in your policy. An HO-2 typically covers 16 named perils, including damage from fire ...
If and when a peril occurs and causes damage to your property, you may file a claim with your home insurance provider to help cover the repairs. A standard homeowners insurance policy lists the ...
Personal property coverage: This coverage makes up a large portion of your homeowners insurance and is designed to replace your home’s contents after a covered peril, including clothing ...
Broad "named perils" [5] – this form expands on the "basic form" by adding 6 more covered perils. Again, this is a "named perils" policy. The loss must specifically be listed to receive coverage. Fortunately, the "broad form" is designed to cover the most common forms of property damage. Broad-form covered perils: All basic-form perils
DIC policy for homeowners. Similar to HO-3 or HO-5 policies, DIC insurance can be a named peril or all-risk policy. Homeowners usually look for coverage for at least one of the following perils ...
If a covered peril occurs and your belongings are damaged, you can file a claim with your insurance company. Note that most HO-4 policies include a deductible. So, your insurance company will help ...
With a homeowners insurance policy in place, your lender is ensured a payout in the event a covered peril occurs. Standard home insurance policies do not cover flood damage, so you may also be ...
Homeowners insurance might be one of the most important things you purchase for your home. After all, a good policy can protect you from major financial losses caused by storms, theft, fire and more.