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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 ...
The various components of home insurance policies are covered either on a named perils basis or an open perils basis. In general, named perils will cover only perils, such as fire or wind ...
It is often called hazard insurance because the average homeowners policy includes coverage for a list of perils, or causes of loss, that can damage or destroy your home. Homeowners insurance
The difference with "special form" policies is that they cover all losses unless specifically excluded. Unlike the prior forms, all unlisted perils are covered perils. However, if something happens to the home, and the event is on the exclusions list, the policy will not provide coverage. Special-form excluded perils: Ordinance of law ...
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 ...
The most basic home insurance policy is an HO-1, which provides coverage on the structure of your home. An HO-2 is a step above the HO-1, as it covers your home and personal belongings for named ...
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