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Vantage Business Support & Insurance Services Homeowners insurance program proudly provides coverage in the event of damage to your property, as well as liability for injuries and damage you cause to other people. 

What is Homeowner’s Insurance ?

Homeowners insurance provides financial protection against disasters. A standard policy insures the home itself and the things you keep in it.  Homeowners insurance is a package policy. This means that it covers both damage to your property and your liability or legal responsibility for any injuries and property damage you or members of your family cause to other people. This includes damage caused by household pets.

Damage caused by most disasters is covered but there are exceptions. The most significant are damage caused by floods, earthquakes and poor maintenance. You must buy two separate policies for flood and earthquake coverage. Maintenance-related problems are the homeowners' responsibility.

Are there different types of policies?

Yes, a person who owns his or her home would have a different policy from someone who rents.  Policies also differ on the amount of insurance coverage provided.  The different types of homeowners policies are fairly standard throughout the country.  Individual states and companies, however, may offer policies that are slightly different or go by other names such as “standard” or “deluxe.”  The one exception is the state of Texas, where policies vary somewhat from policies in other states.

If you own the home you live in, you have several policies to choose from:

• HO-1   Limited coverage policy – This bare bones policy covers you against the first 10 disaster. It is no longer available in most states.

• HO-2  Basic Policy – A basic policy provides protection against all 16 disasters.  There is a version of HO-2 designed for mobile homes.

• HO-3 The Most Popular – This policy protects your home from all perils except those specifically excluded in the policy.

• HO-8  Older Home – Designed for older homes, this policy usually reimburses you for the damage on an actual cash value basis which means replacement cost less depreciation.  Full replacement cost policies may not be available for some older homes.

• HO-4  Renter – Created specifically for those who rent the home they live in.  This policy protects your possessions and any parts of the apartment that you own, such as new kitchen cabinets you install, against all 16 disasters.

Please speak with a VANTAGE business professional for a more detailed explanation of products available to assist you in protection planning