Home Insurance in Floral Park, NY

Owning a home without insurance can be very risky. If damages occur, the responsibility will be yours. Purchasing home insurance can restore your personal possessions or protect you if you are liable for damage to someone else’s property or an injury sustained at your home. Along with that, you could also receive coverage to cover court fees, food and lodging if you have to abandon you home. Discoursing with an insurance agent can help you choose which kind of insurance fits your lifestyle.

Purchasing a house is one of the largest purchases anyone will make in their life, both financially and emotionally, and it is essential to keep the investment protected. Buying home insurance can be a great asset to ensure that you are protected in case your home is destroyed or damaged.

From liability coverage to larger policies, homeowner’s insurance can vary in the coverage for the structure and personal property in your house.

Your insurance agency will make a huge impact in determining how your home insurance coverage works.

Insurance agencies like Keats Insurance Agencies generally offer the following types of policies:

HO-1 Policy

An HO-1 homeowner’s insurance policy provides you with essential coverage. It deals with damage caused by certain events, including fire, lightning, windstorms, hail and explosions. These policies also usually cover damage triggered by civil unrest and volcanic eruptions. Since this policy is very limited, many states don’t usually offer it to customers.

HO-2 Policy

This policy safeguards you against 16 types of events, including the resulting destruction from burglary, vandalism or civil tension. It also covers hail damage, windstorm damage and broken glass, as well as destruction caused by smoke and any damage incurred by a vehicle. If your pipes burst or your roof disintegrates, this policy will also protect that.

HO-3 Policy

HO-3 policies cover all possible grounds of destruction to your property and asset loss, with the exception of explicitly listed events. Exclusions vary from policy to policy, so go over yours conscientiously to recognize what is going to be left out.

Basic vs. Extra Coverage

Fundamental homeowner’s insurance typically takes care of the money it will cost to fix damaged property, as well as the restoration costs if your home is destroyed. It also covers your belongings, but the items inside your house are only covered for up to 40 percent of the home’s insured value. Additional coverage will defend you against earthquakes and floods, as well as covering the loss of private property like jewelry, computers and cameras.