Learn About the Different Types of Home Owners Insurance Available in Ormond Beach, FL

Whether your mortgage company is requiring you to purchase insurance or you simply want to ensure that your home and possessions are covered in case of emergency, choosing the right type of home owners insurance for your home in Ormond Beach, FL is the key to getting the right level of coverage for your needs.

Home Owners Insurance

This is the type of insurance that most people will require for their home in Ormond Beach, FL. However, it is important to note that not all policies are created equal. The home insurance coverage limits on this type of policy can vary widely. Oftentimes, these policies will be referred to as HO-1, HO-2, and HO-5 policies. These abbreviations refer to the amount of coverage that each policy has to offer. The lower the number is associated with your type of policy, the less coverage you can expect to have.

High Value Home Insurance

If your home and possessions exceed $750,000 in value, you will want to consider a high value home insurance policy. This ensures that you are not left with high out-of-pocket expenses in the event of theft or if your home requires rebuilding and/or major repairs from a covered loss. However, you may still need a supplemental insurance policy to cover the loss of valuable collectibles, like jewelry, precious metals and coins that are kept within your home.

Condo Insurance

It is quite common for individuals to wonder why they need to purchase home insurance for a condo since the condominium association will typically carry a policy on the property. However, this condo association insurance will often have gaps that can leave you without the coverage you need in the event of an emergency or disaster. For instance, while this insurance will cover personal injuries that occur on community owned property, it will not cover your liability for any personal injuries which occur within the four walls of your home. Condo insurance will fill in these gaps to ensure you have the coverage you need no matter what goes wrong.

For a fast and free home owners insurance quote in Ormond Beach, FL, contact us at 386-944-5555 today!

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