Read articles written by Homeowners Insurance Cover
Condo Insurance vs. Homeowners Insurance
Although condos are purchased and not rented, condo owners won’t be able to purchase homeowners insurance for their property. Homeowners and condo insurance policies have several important distinctions that condo and homeowners need to know when considering properties they want to buy. At the end of the day, condo and homeowners will generally have similar ... Read more
Average Condo Insurance Cost in 2020
In the United States, condo insurance costs average for 2020 is $478 for an annual premium. The cost of condo insurance policies, however, can vary greatly, and to understand why, you need to know how condo insurance works and what can affect the types and amount of coverage needed to adequately protect yourself, your condo ... Read more
Best Condo Insurance
When shopping for the best condo insurance, you need to take a look at a variety of options, but the process can feel overwhelming because of how many policies there are on the market. Much like homeowners insurance, standard condo insurance includes several different types of coverage. While you want to be able to find ... Read more
Condo Insurance vs Renters Insurance
If you live in a condominium or apartment, you will need to consider if you want home insurance. The options available for your situation, condo insurance, and renters insurance, respectively, have differences compared to standard homeowners insurance policies that you need to know. What Insurance Do You Need if You Own a Condo? If you ... Read more
Types of Private Mortgage Insurance
When mortgage lenders extend a loan to a future homeowner, they want to make sure that their profits are protected. If a homeowner is making a downpayment of less than 20% of the value of the loan, lenders often require that the borrower purchase a private mortgage insurance (PMI) policy. What Does Private Mortgage Insurance ... Read more
How to Avoid Paying PMI (Private Mortgage Insurance)
Mortgage lenders will often require their borrowers to have various insurance policies in order for the loan offer to proceed. The policies they ask for borrowers to carry will depend on the circumstances of the loan and the home being purchased. These policies can either insure the structure of the home or, in the case ... Read more
Lender-Required Flood Insurance
Flooding can cause extensive damage to your home, so if you are purchasing a home in an area with a high risk of flood-related damage, your mortgage lender may require you to have a flood insurance policy before you can close on your new house. Why Your Lender May Require Flood Insurance When buying a ... Read more
Water Damage Insurance
Water damage in the home can be a source of enormous stress and cause you to have to deal with frustrating repairs, property loss, and inconvenient interruptions to water usage in your home. Dealing with these issues can add to your stress when you have water damage, so it’s important that you know how and ... Read more
Canine Liability Exclusion
Liability coverage included in a homeowners insurance policy provides financial protection in the event that you are liable or legally responsible for others’ injuries or property damage. That coverage extends to damage other members of your household, including your pets, may cause. However, if you have a dog and are shopping for home insurance, you ... Read more
Catastrophe Insurance
While standard home insurance policies include several different types of coverage to protect your home, they include lists of events that are excluded from coverage as well. If any damage occurs from one of these events, your insurance company will not accept any claims to provide financial protection or recompensation for the needed repairs. These ... Read more
Water Exclusion Clause Home Insurance
In the world of insurance, there always seems to be a catch or clause hidden within the context of any given policy. The water exclusion clause is no exception. Water damage is a contentious issue in most homeowners insurance policies. Especially if you live in an area that frequently receives heavy rains, flooding, or water-related ... Read more
Loss Settlement Amount
No matter what type of limits of liability are shown on your insurance policy’s declaration page, every homeowner will also contain a loss-settlement provision. This provision outlines how a claim will be paid subject to the various conditions of the policy itself. Generally, loss settlement applies to the replacement cost payment for both the dwelling ... Read more