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Learning About Insurance Coverage For Automobiles


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Learning About Insurance Coverage For Automobiles

Hello everyone, my name is Fredrick Juanita. Welcome to my website. I am here to tell you all about car insurance policies. When I obtained my first car, I selected the bare minimum of coverage allowed by my state. Unfortunately, I was involved in a serious accident and my covered did not even start to cover the damage. Since then, I have dedicated my time to learning all about the best insurance coverage options available for automobiles of all kinds. I invite you to visit my site daily to learn more about car insurance. Thanks for coming by. I hope to see you again soon.

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A Quick Overview Of The Different Types Of Homeowner's Insurance

It is important to realize when you are purchasing homeowner's insurance that the insurance that you are buying comes in different levels or tiers. You want to make sure that you are purchasing the right type of insurance for your home and unique situation. Here is a quick overview of the type of insurance policies that you can choose from for homeowner's insurance.

#1 Older Homes

For home that are of a certain age, HO-8 are the polices that you can purchase. These polices are a little different than other insurance policies because they are designed to only cover the current monetary or market value of your home and not the cost to fix and replace your home. This is because the cost to fix up older homes is often seen as too great and high a risk for insurance companies.

#2 Mobile Homes

Mobile homes are exclusively insured with HO-7 polices. These polices will cover all insurance perils that your home may face, except those specifically excluded on the policy itself. It is very similar to insurance for regular homes.

#3  Condominiums

Condominiums as well as co-op buildings are covered under HO-6 polices. These polices are not as comprehensive as other insurance policies. They are designed to cover you're the cost of replacing your personal belongings, fixing damage to the interior of your unit and liability coverage. Coverage for the actually building itself has to come through your homeowner's association.

#4 Newer Homes

Insurance policy HO-5 is designed for newer homes. It covers most of the named perils and is really extensive. It is often referred to as a premium insurance policy because of the depth of coverage that it provides and because of its specific design for new and very expensive homes.

#5 General Homes

Finally, the most general homeowner's policy that most individuals end up getting is HO-2. This covers all of the specific 16 perils that most insurance companies provide coverage for. It also provides, depending on how your policy is set-up, liability coverage, coverage for damage to the physical structure of your home as well as personal property inside of your home.

There are also other types of homeowner's insurance coverage other than those listed above. However, those are the five most common policies that you are going to encounter. Just make sure that your policy provides you with liability coverage, coverage of your personal belongings and coverage of the market or replacement value of your home, whichever is higher. For more information, contact companies like Willie Swims Ins Agency, Inc.