Insuring Your Home: A Closer Look at Various Policy Types

When shopping for homeowner’s insurance, it is important to understand which type of policy best fits your specific needs.

Types of Policies:

• Special Form (HO-3)

• Investment Property (DP-3)

• Condo Insurance (HO-6)

• Renters Insurance (HO-4)

• Mobile Home Insurance (HO-7)

• Flood Insurance

Special Form Insurance (HO-3) Policy: Designed for single-family homes, townhouses, and other standalone residential properties. They cover both the structure of the home (dwelling) and personal property inside.

Investment Property (DP- 3) Policy: Provides protection for residential properties that are not owner-occupied, such as rental properties or properties that are vacant or unoccupied for extended periods. These policies are also known as Dwelling Fire insurance policies.

Condo Insurance (HO-6) Policy: Specifically designed for condominiums and co-ops. They focus on insuring the interior of individual condo units and the personal property of condo owners.

Renters Insurance (HO-4) Policy: If you're renting a home or apartment, renters insurance protects your personal belongings and provides liability coverage. It's essential for protecting your possessions in case of theft, fire, or other covered events.

Mobile Home Insurance (HO-7) Policy: Designed for mobile or manufactured homes. They provide coverage for the mobile home structure and personal property.

Flood Insurance Policy: Standard homeowners insurance policies usually do not cover flood damage. To protect against flooding, homeowners may need to purchase a separate flood insurance policy through the National Flood Insurance Program (NFIP) or a private insurer.

These represent just a handful of the numerous policies that we offer