Choosing the Right Type of Home Insurance for Your Needs

A home can be subject to many risks, such as fire, theft, vandalism, or from weather events. Insurance can help defray the cost of a damaging event, and finding the right insurance can take some thought and research. At Rising Star Insurance in Saint Paul, MN, we can help you find the right home insurance for your unique needs.

Many Types of Insurance Are Available

Home insurance is available at several different levels, from the basic to the comprehensive. Each type of policy includes certain coverages, as well as specific exclusions. An HO-1 policy covers only the main structure on your property. HO-2 policies will also cover other structures like sheds, gazebos, and similar items. HO-3 and HO-5 are considered standard policies for the home. The HO-3 policy offers primary coverage for several common perils, while the HO-5 policy offers more comprehensive coverage for additional perils. The price of each type of policy depends on how much coverage it will provide for the structure. Some types of homeowners insurance cover renters, manufactured homes, or condominiums.

Some Risks Are Excluded From Your Homeowners Policy

Homeowners’ policies do not cover flooding that comes from outside the house. If you live in an area subject to flooding, you will need to purchase additional flood insurance for coverage. Similarly, if you live in an area that experiences earthquakes, you will need to purchase earthquake insurance because your standard homeowner’s policy will not cover this risk. Other standard exclusions are wear and tear on the home, war, nuclear hazards, pest infestations, and general negligence of the property.

Make Rising Star Insurance Your Agent for Home Insurance in Saint Paul, MN

Homeowners’ insurance can be confusing, and you may have questions regarding the proper coverage. We offer our experience and training to help make this critical decision. Contact Rising Star Insurance Brokers today for a no-obligation quote on home insurance to protect your home investment.