Understanding Your Homeowners Insurance Options

Homeowners Insurance If you’re busy shopping for a new home, you might not have given much thought to the Homeowners Insurance in Massachusetts that you’ll be purchasing. Shopping for an insurance policy at the same time you’re shopping for your new home can actually be very helpful. Because this valuable insurance policy is going to do so much for you, you don’t want to put off making a decision. Learning a little more about the different policies available to you will help you make sense of the options your preferred insurance agency presents to you. HO-1 and HO-2 are two well-known types of policy.
Basic Coverage
The homeowners policy basic form one – also known as the HO-1 policy – provides the most fundamental lines of coverage. This includes personal liability coverage, medical payments to others, direct damage to property, and other basic lines of coverage. Because the HO-1 policy is so basic, it is no longer offered in every location. If this form of Homeowners Insurance in Massachusetts appeals to you, you will have to ask your agent about its availability.
Expanded Coverage
The HO-2 policy was created to expand the basic coverage offered in the HO-1 policy. Because it covers a broader range of concerns, this is now a standard policy offered by any insurance company that sells Homeowners Insurance in Massachusetts. This policy includes the lines of coverage mentioned above and adds protections for other structures present on the property, such as garages or workshops, and loss of use.
Your insurance agent can tell you more about these and other policies that may fit your need as a new homeowner.

This post was written by , posted on December 10, 2012 Monday at 9:41 pm

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