Homeowners Insurance in Bartow, FL

What Is Homeowners

One of the smartest financial decisions you can make is to secure a homeowners insurance policy. This product may provide financial support in case your home is damaged by fire, lightning strikes, hail, theft or other unforeseen events. Without home insurance, you may have to shoulder any repair or replacement expenses.

Types of Homeowners Insurance

Homeowners insurance policies come in various forms, each designed to provide a specific level of coverage. Policies describe coverage in one of two ways: named peril or open peril. Named peril policies cover only the specific risks explicitly listed, excluding anything not mentioned. Open peril policies work the opposite way, covering all risks except those explicitly excluded in the policy.

The following are the most common types of homeowners insurance:

• HO-1 may cover a specific list of perils, or events, that can damage your home and other structures on your property, such as fire, lightning, theft and vandalism among others.

• HO-2 may provide coverage for 16 named perils, including the 10 covered by HO-1 plus additional events like falling objects, weight of ice or snow and electrical surges.

• HO-3 is the most common type of homeowners insurance. It may provide “open perils” coverage for the home’s structure and “named perils” coverage for personal belongings.

• HO-4 is designed for tenants. This policy may cover personal property and liability, but not the physical structure of the rented home.

• HO-5 provides the broadest level of coverage. It may financially protect against all risks except those specifically excluded in the policy.

• HO-6 may cover personal property and liability for condo owners.

Coverage Inclusions

Basic homeowners insurance policies may include coverage for the following:

• The physical structure of your home if it was damaged by covered events like fire or hail

• Repair or replacement costs of your possessions, including furniture and electronics, if they were damaged or stolen

• Liability protection if someone is injured on your property or if you cause damage to others’ property

• Temporary living expenses if your home becomes uninhabitable due to a covered event

Secure Your Policy Today

Anzar Insurance Group can help you find affordable home insurance options. Contact us today to receive a personalized quote.