Homeowners Insurance: Do You Really Need It?

Homeowners insurance is something you should have regardless if you own your home or not. By having homeowners insurance you are not only protecting your home, but all your belongings inside. Plus, a homeowners insurance policy covers personal liability due to negligence, which includes damage to another person and their property and legal defense.

There are 6 types of homeowners insurance options, the top 3 being HO-3. HO-4 and HO-6.

Special Form Homeowner Insurance (HO-3) is probably the most popular and protects against damage to the home, including personal belongings.

Renters Insurance (HO-4) protects people who are renting their home or apartment. This policy protects your belongings among other things.

Condominium Insurance (HO-6) is the another popular policy and protects those who own a condo or co-op. For more information about this and all the other homeowner insurance policies, here is a great website.

To decide which insurance policy is best for you and your family, your insurance agent can answer any questions you have and help you decide what additional insurance you may need or want to protect your assets.