{"id":601,"date":"2022-03-15T08:37:32","date_gmt":"2022-03-15T08:37:32","guid":{"rendered":"https:\/\/maximusglobe.com\/?p=601"},"modified":"2022-03-15T08:37:38","modified_gmt":"2022-03-15T08:37:38","slug":"homeowners-insurance","status":"publish","type":"post","link":"https:\/\/maximusglobe.com\/homeowners-insurance\/","title":{"rendered":"Homeowners Insurance\u00a0: Types , Pros and Cons"},"content":{"rendered":"\n
\"Homeowners<\/figure>\n\n\n\n

We all dream of buying a house that is a haven for us. When we achieve it, there is always a chance that any damage could happen due to an incident.<\/p>\n\n\n\n

So what could we do to protect our dream? That’s where Homeowners or Home Insurance comes forward. <\/p>\n\n\n\n

What if we tell you that earlier, home insurance was not something that people knew of. There was only ‘fire insurance’ that people would get to protect their family and house against fire incidents. <\/p>\n\n\n\n

Homeowners insurance became a separate term as it now covers more than fire incidents. Let’s find out what it is all about.<\/p>\n\n\n\n

How Does Homeowner Insurance Work?\u00a0<\/h2>\n\n\n\n

As the name suggests, your Home Insurance will cover the expenses of any damage caused to your house. Let’s say your house comes under flames or any other insensitive incident. You won’t have to worry about the finances. Your insurance company will cover the interior and exterior damage expenses.<\/p>\n\n\n\n

Your home insurance is not all about your house protection. It also covers any injury that happened to your family at your property, even if it’s your pet. What matters the most is that it includes liability coverage as well. <\/p>\n\n\n\n

Let’s take it this way when somebody gets injured at your place or hers by you or your family; your insurance policy will rescue you. <\/p>\n\n\n\n

What happens if your pet makes a little mischief to your neighbor? Bite him or intrude in his house and cause any damage? Here comes the homeowners’ insurance to save the day! <\/p>\n\n\n\n

Last but not least, your home insurance also covers your hotel rent when your house is under re-construction. <\/p>\n\n\n\n

Type of Homeowners Insurance <\/h2>\n\n\n\n

Not every insurance works the same way. There are different plans and coverages. You should choose according to your budget and how much coverage your house needs. <\/p>\n\n\n\n

The three common types of home insurance are;<\/p>\n\n\n\n

Basic Form: <\/strong><\/h3>\n\n\n\n

This type of insurance is relatively cheaper and more affordable than others. There will be only a few items listed on your policy list that your insurance company covers. Such insurance suits more to those who have small cottages. <\/p>\n\n\n\n

Broad Form:<\/strong><\/h3>\n\n\n\n

This type of insurance coverage is a bit more than the basic ones. It includes a range of bigger items like buildings, garages, greenhouses. It also covers certain things that your insurance company has on your list.<\/p>\n\n\n\n

Comprehensive Form<\/strong><\/h3>\n\n\n\n

Comprehensive Form is the most expensive and extensive of all types. This type of coverage is also known as ‘All risk’ coverage. It covers all your house expenses and damage to your belongings. It might have certain items in the list that do not come under the coverage. <\/p>\n\n\n\n

Homeowner Insurance :Types of Coverages\u00a0<\/h2>\n\n\n\n

Home insurance policies provide two types of coverage.<\/p>\n\n\n\n