Homeowners Insurance Policies94 - 0 views

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  #1 Nolan Greer on 11 Mar 12

   

  Comprehending the Special Homeowners Policy (HO-3)
  
  homeowners insurance policies - The Insurance Services Office (ISO) Special Homeowners Policy (HO-3) was intended to offer protection towards common exposures of owned or rented residences. Regarding personal liability protection and broad, direct physical loss coverage to ones residence.
  
  The present article is supposed to provide a short summary of the protection offered by the ISO Special Homeowners Policy.
  
  Section 1 - Property Coverage's (Covered Property)
  
  Coverage A - Dwelling - covers the dwelling and connected structures. Additionally , it includes materials and supplies intend for the construction or repair of the dwelling and/or structures located on the premises. Land is not covered.
  
  Coverage B - Other Structures - addresses structures not attached to the primary residues. The buildings must be split up by a clear space or simply linked by fence, utility line or similar connection. The other structure can not be used for commercial, manufacturing or any other business use. However the structure may be used to store such commercial, manufacturing, etc. equipment as long as it's owned by the insured or a tenant of the dwelling. And none of the stored goods can be gaseous or liquid fuel.
  
  Coverage C - Personal Property - addresses the personal property owned or in use by the insured in the dwelling or anywhere in the world. Personal property owned by guests or staff of the insured maybe covered also. A few of the items NOT covered:
  Motorized Vehicles or aircraft
  Paper or electronic records containing business data
  Books of account
  Credit Cards
  And Animals
  Check with your insurance provider for an expanded list of all items NOT covered.
  
  Coverage D - Loss of Use Coverage - When total or partial loss of a residence premises has become unsuitable to live in, Coverage D will provide coverage of any increase in living expensive or any loss of rental income.
  
  Additional Coverages Include:
  Fire Department Service Charge
  Trees, Shrubs, and Other Plants
  Debris Removal
  Collapse
  Glass or Safety Glazing Materials
  Again, check with your insurance provider for a complete list of Additional Coverages.
  
  
  Coverage Against Perils to Property
  
  There is variety of perils protected within the basic form. A few are lighting, fire, windstorm/hail and smoke. Talk with your insurance provide for a complete list. All other perils maybe added to a owners policy but on a named peril bases.
  
  The intended use of this article is for reference only; it is not intended to be taken as complete and total fact. Contact a license insurance professional for complete information on the laws in your area.
  

   

  <div class="cArrow"> </div><div class="cContentInner">Comprehending the Special Homeowners Policy (HO-3)<br /><br /><a href="http://www.mcisinc.us/personal_insurance/homeowners_insurance.html" rel="nofollow">homeowners insurance policies</a> - The Insurance Services Office (ISO) Special Homeowners Policy (HO-3) was intended to offer protection towards common exposures of owned or rented residences. Regarding personal liability protection and broad, direct physical loss coverage to ones residence.<br /><br />The present article is supposed to provide a short summary of the protection offered by the ISO Special Homeowners Policy.<br /><br />Section 1 - Property Coverage's (Covered Property)<br /><br />Coverage A - Dwelling - covers the dwelling and connected structures. Additionally , it includes materials and supplies intend for the construction or repair of the dwelling and/or structures located on the premises. Land is not covered.<br /><br />Coverage B - Other Structures - addresses structures not attached to the primary residues. The buildings must be split up by a clear space or simply linked by fence, utility line or similar connection. The other structure can not be used for commercial, manufacturing or any other business use. However the structure may be used to store such commercial, manufacturing, etc. equipment as long as it's owned by the insured or a tenant of the dwelling. And none of the stored goods can be gaseous or liquid fuel.<br /><br />Coverage C - Personal Property - addresses the personal property owned or in use by the insured in the dwelling or anywhere in the world. Personal property owned by guests or staff of the insured maybe covered also. A few of the items NOT covered:<br /> Motorized Vehicles or aircraft<br /> Paper or electronic records containing business data<br /> Books of account<br /> Credit Cards<br /> And Animals<br />Check with your insurance provider for an expanded list of all items NOT covered.<br /><br />Coverage D - Loss of Use Coverage - When total or partial loss of a residence premises has become unsuitable to live in, Coverage D will provide coverage of any increase in living expensive or any loss of rental income.<br /><br />Additional Coverages Include:<br />Fire Department Service Charge<br />Trees, Shrubs, and Other Plants<br />Debris Removal<br />Collapse <br />Glass or Safety Glazing Materials<br />Again, check with your insurance provider for a complete list of Additional Coverages. <br /><br /><br />Coverage Against Perils to Property<br /><br />There is variety of perils protected within the basic form. A few are lighting, fire, windstorm/hail and smoke. Talk with your insurance provide for a complete list. All other perils maybe added to a owners policy but on a named peril bases.<br /><br />The intended use of this article is for reference only; it is not intended to be taken as complete and total fact. Contact a license insurance professional for complete information on the laws in your area. <br /></div>

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