A homeowners policy is for those who own their own homes. It may be either a house or a condominium. Essentially, if you’re making payments on the home with ownership as the end goal, you’ll need homeowners’ insurance.
Your policy will cover both the outside and all the contents of your home. It will cover most natural disasters (earthquakes and flood may be excluded, but you may add extra coverage for that specific purpose). And, it will allow you to replace or rebuild damaged property. If a thief breaks into your home and steals something, your insurance will help replace the stolen item(s) and pay for any damage in terms of vandalism.
Like homeowners insurance, condo insurance covers your dwelling and your belongings. However, if your condo is part of a Condo Association, you may only be responsible for that part of the structure from the studs in. The Condo Association takes responsibility for the studs out. Condo insurance can also cover any assessments the Association may periodically make for major repairs or renovations to the exterior of the complex (i.e. roof replacement).
With a renters insurance policy, the coverage provides liability coverage in the event you cause accidental damage to the premises, it also includes the inner contents of the home, apartment, or room that you’re renting. This is coverage for break-ins, natural disasters, fires, and other circumstances beyond your control. Although your landlord will have a homeowners’ policy on the place you’re living, it doesn’t cover your personal items as a renter, which is why renters insurance is essential.
A landlord policy covers a dwelling you own and rent or lease to someone else to live in. It does not cover the belongings of the tenant.
Why Work with a Local Agent?
You may be surprised to see the range of prices you’ll get in home insurance quotes. Sometimes you can save hundreds of dollars—or even more—simply by choosing one company over another. However, it’s important that you only get quotes from the best carriers.
Your local, independent agent is your go-to resource for this. Sherrye LaCour Insurance can gather multiple quotes from the top-rated companies for you online. We’ll give you the ability to compare the best policy options from the convenience of your home!
Plus, we can help you save by bundling your home and auto insurance, and we’ll tell you what other discounts you may be eligible for.