When people shop for home insurance, they are actually seeking not just one type of coverage but possibly several different varieties. Homeowners insurance, renters insurance, and condo insurance are all typically included within the category of home insurance. Whether you own the property that you live on or whether you are renting it short term, you need to have insurance coverage to guard against disasters and losses.
A homeowners policy is for people who own their own home. This may be either a house or a condominium. Essentially, if you are making payments on the home with ownership as the end goal, you will need homeowners insurance. This type of policy will cover both the outside of the home and all the contents of your home. (Note: Condo coverage typically covers everything from the drywall in - the structure of the building should be covered by your condo association's coverage.) A homeowners policy will cover the majority of natural disasters (certain disasters like earthquakes or flooding may be excluded but you may add extra coverage for that specific purpose) and will allow you to replace or rebuild damaged property. If your home is broken into by a thief and items are stolen, your insurance will help replace stolen items and pay for any damage in terms of vandalism done by the thief.
With a renter's policy, the coverage includes the inner contents of the home, apartment, or room that you are renting. This is coverage for the break-ins, the natural disasters, fires, and other circumstances that are beyond your control. Even though your landlord will have a homeowners policy on the place you are living, it does not cover your own personal items as a renter, which is why renters insurance is essential.
You may be very surprised to see the range of prices you'll get in home insurance quotes. You can sometimes save hundreds of dollars, or even more, simply by choosing one company over another. However, it is important that you get quotes only from reliable top carriers. Your local independent agent is the best resource for this since they can accumulate multiple quotes from the top carriers for you online. Your independent agency will give you the power to compare all the best policy options conveniently at home!
Vacation Rental Insurance
If you are listing your home as a short-term rental, either through an agency or on a site like Airbnb, your homeowners policy will likely not provide the coverage you need. We are able to offer you the most comprehensive insurance policy of this type available today. It was custom-penned with Lloyd’s of London for the unique risks of a vacation rental property including coverage for building(s), contents, income, and liability. It’s designed to entirely replace the current coverage on the property and often shows lower rates compared to similar products. Contact us today for a quote!