With this type of insurance, you can cover the building you reside in as well as your personal belongings inside against different kinds of perils. Some of the common perils you can insure your home against include fire, theft, windstorm, hale and civil riots. Many of the current policies do not cover your property and belongings against floods and earthquakes. It is advised that you purchase such types of coverage as separate riders.
Landlords may also insure the property they rent to others with landlord insurance. If you rent a house or a condo, you can cover your possessions with renter insurance.
What are the costs?
The exact cost of house insurance will usually depend on what it would cost to replace the house and what extra riders are attached to your policy. The policy is a long-term contract, and it explicitly lays out in what circumstances insurance companies will and will not support the coverage. Acts of God (Hurricanes, Land-Slides etc) or damages due to acts of War are commonly not included in the basic house insurance policies deals but can be included if you have a significant risk of these circumstances arising. The levels of these risks all affect the initial price of the policy.
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Thursday 31 October 2013
House Insurance
With this type of insurance, you can cover the building you reside in as well as your personal belongings inside against different kinds of perils. Some of the common perils you can insure your home against include fire, theft, windstorm, hale and civil riots. Many of the current policies do not cover your property and belongings against floods and earthquakes. It is advised that you purchase such types of coverage as separate riders.
Landlords may also insure the property they rent to others with landlord insurance. If you rent a house or a condo, you can cover your possessions with renter insurance.
What are the costs?
The exact cost of house insurance will usually depend on what it would cost to replace the house and what extra riders are attached to your policy. The policy is a long-term contract, and it explicitly lays out in what circumstances insurance companies will and will not support the coverage. Acts of God (Hurricanes, Land-Slides etc) or damages due to acts of War are commonly not included in the basic house insurance policies deals but can be included if you have a significant risk of these circumstances arising. The levels of these risks all affect the initial price of the policy.
Landlords may also insure the property they rent to others with landlord insurance. If you rent a house or a condo, you can cover your possessions with renter insurance.
What are the costs?
The exact cost of house insurance will usually depend on what it would cost to replace the house and what extra riders are attached to your policy. The policy is a long-term contract, and it explicitly lays out in what circumstances insurance companies will and will not support the coverage. Acts of God (Hurricanes, Land-Slides etc) or damages due to acts of War are commonly not included in the basic house insurance policies deals but can be included if you have a significant risk of these circumstances arising. The levels of these risks all affect the initial price of the policy.
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