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Coverage Types for Homeowner Insurance Charlotte NC

In plain terms, this means replacement cost less depreciation. Since you will not be paid full replacement cost it will mean money out of your pocket if you want to build or repair your home to it's 'original' state. However, full replacement cost home insurance policies may be difficult or impossible to get for some older homes.

Edwards Church & Muse
(704) 519-0791
PO Box 12457
CHARLOTTE, NC
Services
Homeowners Insurance

Edward Ray Edwards Insurance Agency Inc
(252) 946-7761
117 North Respess Street
CHARLOTTE, NC
Services
Homeowners Insurance

Thomas Griffith & Co Inc
(704) 525-7891
PO Box 241687
CHARLOTTE, NC
Services
Homeowners Insurance

Carter Glass Insurance Agency
(919) 781-1973
5901 Falls Of Neuse Road
CHARLOTTE, NC
Services
Homeowners Insurance

Allstate Insurance - Michelle Riley
(919) 544-2155
6015 Fayetteville Rd. #115
CHARLOTTE, NC
Services
Homeowners Insurance

Allstate Insurance Companies - Sales Offices- Southpark
(704) 527-8585
4200 Park Road Suite 100
CHARLOTTE, NC
Services
Homeowners Insurance

Elmer R. Midgett Jr. Agency
(252) 473-3930
206 Budleigh St
CHARLOTTE, NC
Services
Homeowners Insurance

Carolina Insurance Associates
(704) 714-1280
5800 N Sharon Amity Rd Ste K
CHARLOTTE, NC
Services
Homeowners Insurance

Carthage Insurance Agency
(910) 947-2957
103 Courthouse Sq
CHARLOTTE, NC
Services
Homeowners Insurance

Allstate Insurance - Linda M. Grooms
(704) 543-4028
3121 Springbank #a
CHARLOTTE, NC
Services
Homeowners Insurance

Coverage Types for Homeowner Insurance

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Home Insurance Policy Types

This is where a home insurance policy depends on the type of dwelling you are in and whether or not you own the contents. It's also where it gets complicated.

Home insurance companies tend to group the types of coverages, into a number of fairly standard policy types, based on the types of 'perils' covered and the type of dwelling. These home insurance policy identifiers are known across the industry and may be referred to by your agent or broker:

  • HO-1: home insurance policy will specify only certain "perils" (basically, ways in which damage could have occurred) and will have limited coverage. Generally, the home insurance policy only covers a limited number of disasters over the course of the policy. It's not advisable to get this kind of policy, even if it's available to you. Note that this kind of home insurance policy has been phased out in many parts of the US.
  • HO-2: Again, the home insurance policy will specify only certain perils (although generally it covers the 16 common perils) and the coverage levels will be more generous. You can obtain a version of this policy for a mobile home.
  • HO-3: This home insurance policy will cover all perils on the buildings themselves, but generally only specified perils on your contents. You are covered for all perils unless specifically noted by the home insurance policy. The excluded perils will usually include floods, earthquakes, wars and nuclear accidents (which are all special perils requiring separate endorsements - and more money in premiums).
  • HO-4: This home insurance policy covers the contents for renters without covering the building itself or structure of the unit. It will have limited liability coverage included.
  • HO-6: This home insurance policy will cover the condominium owner, including contents and "loss of use" of the condo unit. The home insurance policy will also include liability.
  • HO-8: These kinds of home insurance policies are issued for older homes. The insurer reimburses you for damage on an actual cash value basis. In plain terms, this means replacement cost less depreciation. Since you will not be paid full replacement cost it will mean money out of your pocket if you want to build or repair your home to it's 'original' state. However, full replacement cost home insurance policies may be difficult or impossible to get for some older homes.

What you need for to meet your home insurance needs is a combination of the type of ...

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