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An HO-4 policy, also known as renters insurance, is intended for renters who want to insure their personal belongings and get additional coverage, like liability and additional living expenses. An ...
The parts of a homeowner insurance policy. A homeowners insurance policy includes a variety of coverage types, each one with its own monetary coverage limit. The central element is dwelling ...
HO-3 policies: These are the most common homeowners insurance policy type and include all the basic coverage types. The key difference between HO-3 and HO-2 policies is that an HO-3 policy covers ...
Extended coverage is a term used in the property insurance business. All insurance policies have exclusions for specific causes of loss (also called "perils") that are not covered by the insurance company. An extended coverage endorsement (EC) was a common extension of property insurance beyond coverage for fire and lightning.
Additional living expenses: Homeowners insurance generally covers additional living expenses you incur while repairs are being done up to a certain period of time or coverage limit. That means ...
The cost of homeowner's insurance often depends on what it would cost to replace the house and which additional endorsements or riders are attached to the policy. The insurance policy is a legal contract between the insurance carrier (insurance company) and the named insured(s). It is a contract of indemnity and will put the insured back to ...
Priceless jewelry and antiques coverage: While coverage for valuables like jewelry and art is typically included in a standard homeowners policy, there are usually limits as to what an insurance ...
Lastly, standard HO-4 policies also include additional living expenses (ALE) coverage. If your rental is uninhabitable while repairs are made after a covered loss, your insurance policy may pay ...