When you buy or rent an abode new to you in Columbia, SC, Higgins & Halloran wants you to understand that you’ll need home insurance and the appropriate type for your home at that.
Types of home insurance
Home insurance refers to a broad category of insurance that protects any type of home. Homeowners’ insurance refers to a specific type of home insurance that provides protection for a single-family home you own. If you buy a condo, you’ll need condo insurance, etc. Read on for a quick guide to the eight types of home policies available.
- HO-1: referred to as dwelling insurance, homeowners who have made excessive claims to prior home policies can only qualify for this coverage that provides essential single-family home coverage for ten major perils,
- HO-2: another single-family home insurance policy covering a few more perils than dwelling policies,
- HO-3: the policy that most homeowners purchase, which covers 16 named perils,
- HO-4: renter’s insurance, which covers the renter’s liability and their personal property,
- HO-5: the most comprehensive policy for a single-family home, providing all perils coverage,
- HO-6: condo insurance that provides coverage for named perils, walls-in liability coverage, and covers personal property damage.
- HO-7: a policy that covers your liability and personal property damage if you purchase an RV, mobile, or manufactured home to reside in,
- HO-8: a historic home policy that provides named-peril coverage for a home of 100 years of age or older; this policy type also covers architecturally significant homes.
When you buy or rent a home in Columbia, SC, you need to protect your investment. Contact Higgins & Halloran to learn more about home insurance and protecting your new home.