Homeowners
Homeowners coverage provides financial protection against loss due to disasters, theft and accidents. Most standard policies include four essential types of coverage: Coverage for the structure of your home; Coverage for your personal belongings; Liability protection; Coverage for Additional Living Expenses
Your homeowner’s policy pays to repair or rebuild your home if it is damaged or destroyed by fire, hurricane, hail, lightning or other disasters listed in your policy. A standard policy will not pay for damage caused by a flood, earthquake or routine wear and tear.
Condo
Condominium owners share their building structures, two policies—a master policy and an individual policy—are required to fully protect all parties involved. Your HOA will have a Master policy in place, this will likely cover the exterior and common areas but confirm with the CC&R’s, we are happy to review these for you! As the unit owner, you will want an individual policy that provides coverage for your; liability, personal possessions and for any structural elements not covered by the master policy if you are the victim of fire, theft or other disaster listed in your policy.
Rentals – short term or long term
Landlord policies provide property insurance coverage for physical damage to the structure of the home caused by fire, lightning, wind or other covered perils. It also offers coverage for any personal property you may leave on-site for maintenance or tenant use, like appliances.
The policy also includes liability coverage; if a tenant or one of their guests gets hurt on the property, it would cover legal fees and medical expenses.
Most landlord policies provide coverage for loss of rental income in the event you are not able to rent out the property while it is being repaired or rebuilt due to damage from a covered loss.
Vacation home
Like any residence, your vacation home needs to be insured—but because the risks are different, the coverage might cost more than your primary homeowners policy. Usually the locations are riskier, and you don’t occupy your second home as frequently and that puts it in more danger for theft, vandalism and easily undetected damage, like burst water pipes.