For most people, buying a house is considered an investment in their family’s future. It’s a symbol of security and love. Memories are created within the structure, and if the walls could talk, they would share stories of laughter and tears. Protecting this investment is paramount. If a fire happens or vandalism occurs, you want to be able to recover from the damage and rebuild your life quickly. Home insurance in Southaven, MS provides you with what you need to pick up the pieces if an unfortunate event occurs.
8 Types of Home Insurance
When purchasing homeowner’s insurance, you want to know you are getting the best coverage for your unique situation. An experienced broker can discuss the eight types of home insurance available to protect your residence. They include:
- Basic (HO-1): This type of policy only covers the structure of your home, any attached structures, appliances, and features like carpeting. It does not cover personal property, additional living expenses, or liability claims against you. It is truly basic and has many limitations.
- Broad form (HO-2): This is a step up from an HO-1 policy. It not only covers your home, but it broadens out to cover your personal belongings. It may also include some liability claim coverage, but the circumstances are limited.
- Special form (HO-3): Often considered standard coverage, an HO-3 policy covers your home, personal property, liability claims, additional living expenses, and medical payments.
- Renters insurance (HO-4): This policy is geared toward renters who want to protect their personal belongings and have additional protection against liability claims. It does not include coverage for the building’s structure.
- Comprehensive home (HO-5): Geared for individuals with high-value items, this type of coverage offers protection for your home, personal belongings, liability, additional living expenses, and medical payments. It also covers more circumstances than other policies. It has higher available limits, so you could also cover your jewelry if you choose.
- Condo (HO-6): This is specifically for condominium owners. It typically covers everything within your unit, personal liability claims, and additional living expenses. There is some dwelling coverage, which helps if you’re responsible for the interior walls.
- Mobile or manufactured home (HO-7): Look to this type of insurance if you live in a mobile home, sectional home, RV, or modular home. It covers the structure, personal belongings, liability, additional living expenses, and medical payments.
- Older homes (HO-8): This may be a good option if you have an older or architecturally significant home (e.g., a historical landmark). Generally, these homes cost more to repair than their current value. It includes coverage for the dwelling, personal property, liability, additional living expenses, and medical payments.
Protect Your Southaven, MS Home with the Right Home Insurance
No one wants to lose everything because of a disaster, but it helps to know you can rebuild when you have the right type of homeowner’s insurance. The helpful team from Hawsey Insurance can sit with you and discuss your unique needs. We will look at your existing policies and offer suggestions to fill the gaps. Give us a call to learn more about how we can serve you.
Call Hawsey Insurance at 601-856-7707 for a free quote on home insurance in Southaven, Mississippi. Feel free to contact us online or make an appointment to stop by our Madison, Jackson, and Southaven, MS offices.