Locate affordable home insurance | Renters | Townhouse| Condo

The term “home insurance” is used quite often. However, for renters and condo owners the coverage for personal property and liability is similar.

The main difference, of course, is that you do not need to insure the building, they need home contents insurance. Therefore, almost all the information contained here should be of use to you whether you own or rent, live in an apartment, a condominium, or a home. Homeowners insurance is a “package” policy that covers both property – structures and personal possessions – and liability.

 

Whether you are a first-time home buyer, a veteran of many years of mortgage payments and house upkeep, a condo owner or an apartment dweller, your household is one of some 70-80 million in the United States. Chances are your home is your single most expensive budget item and for the home or condo owner your most valuable investment. Learning how to get home insurance and the correct coverages is important.

Because it is comprehensive, your homeowners insurance policy may include coverage you are not even aware of. If your luggage is stolen from a motel room while you are a thousand miles away from home, for example, you will of course want to notify the police. You will also want to check with your insurance company about coverage for loss under your homeowners policy. And if your house burns down leaving you without a place to stay, your policy provides living expenses as well as reimbursement for damaged property.

Your home insurance company can explain your policy in detail. To get you started, lets discuss the key areas of coverage as well as any exclusions or limits that might apply. More than any other line of coverage, home insurance is substantially standardized throughout the United States.

It is in your best interests to be aware now of your protection needs pros and cons so that you may select the insurance that best meets your needs.