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Old 12-06-2008, 04:54 AM
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Default Five basic types of home insurance

Your home is a major investment so it should be insured. There are few types of insurance. How much insurance and what types of insurance you have will depend on a number of factors; the location of the home, home value, home construction, applicable laws, deductibles, costs, and etc.

Five basic types of home insurance:

1) Homeowners: This is the basic coverage that includes loss or damage from hazards plus added available coverage for personal property and liability, jewelry, theft away from home and other such items. Homeowners insurance might also include hail and wind coverage, but in some areas a separate policy will be required.
2) Flood: This indemnifies against loss by flood damage. The insurance is purchased through private companies
3) Wind and Hail: In some locations damage from wind and hail is not covered in the basic Homeowners insurance, but insurers offer a separate policy for this coverage.
4) Earthquake: This insurance is fairly inexpensive and should be considered if the property is in an area where earthquakes are a possibility.
5) Private Mortgage Insurance: This is insurance coverage for non payment of mortgages and foreclosure. Lenders require PMI when the mortgage amount is more than 80% of the home value.

When making decisions about insurance I would suggest consulting with a Real Estate Agent , who is well-known about the area and the several insurance companies and policies available.
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Old 08-16-2010, 09:53 PM
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Every homeowner knows how important it is to have a home insurance policy. Losing one's home or property to fires, floods, earthquakes and other natural and man-made disasters can be devastating. Since no homeowner can pinpoint exactly when something tragic or unavoidable will happen to his or her home and property, it is all the more reason to be prepared. A home insurance policy gives a homeowner some protection.
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Old 04-26-2011, 02:34 AM
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Five basic type of home insurance which are given by bank to people.
1) Owner insurance.
2) If house get damaged in floods.
3) If house get damaged in fire.
4) Private mortgage insurance.
5) If getting any damaged in natural disaster.
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Old 07-14-2011, 08:26 PM
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I have read these insurance information, Thank you for sharing..
I have purchased my new home recently, So, let me know what can I do for its insurance, It is necessary to be insured my house..
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Old 08-29-2012, 12:59 AM
ericamccoy ericamccoy is offline
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Join Date: Aug 2012
Posts: 6

There is also an insurance for oil tank I think this type of insurance can be categorize on home insurance. Having an insurance is ideal it will help you prepare for whatever might happen to your house.
Oil Tank Removal for New Jersey
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Old 01-15-2013, 10:12 PM
Gerry22 Gerry22 is offline
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Join Date: Jan 2013
Posts: 1

There are several basic types of home insurance that offer different levels of coverage. Each type of home insurance policy provides coverage for certain perils. A peril is the particular event that causes the damage or destruction of the home. Some types of home insurance policies will name the perils specifically, and others will exclude them. What you need out of home insurance depends on your home and what you want to cover.
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