Coldwell Banker Realty - Framingham
Sug Jandu, Coldwell Banker Realty - FraminghamPhone: (508) 414-0436
Email: [email protected]

Homeowners insurance policies: A beginners guide

by Sug Jandu 06/17/2024

homeowners insurance featured image

With all the different types of homeowners insurance, the process of choosing a policy can be confusing. 

To help, here’s a basic guide to some major types of insurance policies. 

What is an HO-1 home insurance policy?

HO-1 insurance is the simplest of policies offered. It only covers your home structure and a few home features.

It also covers attached structures such as garages and patios. This policy offers funding in the case of storms, fire, wind damage, theft and a few other peril categories. 

HO-1 insurance doesn’t cover personal belongings, however. So if your computer or furniture is damaged during a storm, replacement cost would need to be covered by another policy. 

What is an HO-2 home insurance policy?

An HO-2 insurance policy offers a wider range of coverage. It provides financial security to home structure and personal property. 

What are HO-3 home insurance policies?

An HO-3 home insurance policy is the most common homeowners insurance type. In addition to coverages seen with HO-1 and HO-2 policies, it covers additional items. These include liability, payments for medical bills and living expense stipends. 

What is HO-4 Renters Insurance?

HO-4 is a policy offering protection to the personal property of individuals renting a space. It is not technically a homeowners insurance policy, but important for renters to have. 

Consider your home needs when purchasing homeowners insurance. Protect your property and belongings with the right insurance.

About the Author
Author

Sug Jandu

 I became interested in the business because I genuinely enjoy helping people. I enjoy the art of finding homes to meet my client's needs, and pride myself on being a devoted and thorough listing and buyers agent. Twelve years later and I still LOVE what I do! Give me the opportunity to make your home buying or home selling experience fun and seamless.