Homeowners, Renters and Condo Insurance
Homeowners insurance helps protect you from potential liability, the structure itself and typically your belongings. Renters insurance is for potential liability and your contents. Condo insurance is like Renters but also covers the structure from the inside walls At Solo Insurance®, we shop for the best Home, Renters or Condo rates we can find for you. We serve Arkansas, Iowa, Illinois, Missouri, and Oklahoma.
If you would like a free home, renters or condo insurance quote, contact Solo Insurance online, request a free quote, or call 800-207-7656.
What is Renters Insurance?
Renters insurance covers your possessions against losses from fire or smoke, lightning, vandalism, theft, explosion, windstorm, and water damage from plumbing. With renters insurance, you will be able to replace what is damaged or stolen.
However, renters insurance does not cover floods, earthquakes or routine wear and tear. You can, however, buy separate policies for flood and earthquake damage.
What Renters Insurance Covers
If you are forced out of your home because of a disaster your additional living expenses will be covered. Renters insurance pays the reasonable additional costs of temporarily living away from your home if you can't live in it due to a fire, severe storm or other insured disaster. It covers hotel bills, temporary rentals, restaurant meals and other living expenses incurred while your home is being rebuilt. Coverage for additional living expenses differs from company to company.
Renters insurance also covers your responsibility to other people injured at your home or elsewhere by you, a family member or your pet and pays legal defense costs if you are taken to court.
How to Determine How Much Coverage You Need
Add up the cost of everything you would want to replace if it were damaged or stolen. This could also serve as the basis for an inventory that will make filing a claim easier. For an inventory, also record model numbers, dates and places of purchase. Take photographs or make a video of these items and place a copy of the inventory in safe place away from your home.
If you rent an apartment or house, you need insurance to protect your belongings. While your landlord might have insurance, it only protects the building. Your belongings are not covered under those policies.
If you would like a free renters insurance quote, contact Solo Insurance online, request a free quote, or call 1-800-207-7656.
Because everyone's needs are not the same, it is best to consult your agent to help assess your needs and find the homeowners insurance policy that is right for you.
What Is Homeowners 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.
Why Do You Need Homeowners Insurance?
It is really all about protecting yourself financially if something unexpected happens to your home or possessions. That's important because chances are your home is likely one of your largest investments.
- If your home was destroyed by fire or damaged by a natural disaster, you'd need money to repair or replace it.
- If a guest in your home is injured, liability protection and medical coverage help pay expenses.
- If you are a victim of theft and vandalism, it can reimburse you for your loss or pay for repairs.
- If you are still paying for your home, your lender will require insurance.
It is important to know that homeowners insurance is meant to cover unexpected damage, not routine maintenance.
When you buy a condo or if you live in a condo, you may be aware that your home is covered under your condo association’s HOA policy. But did you know this policy likely only covers your condo’s building, grounds, and external features; nothing inside? If a unity owner doesn't have an individual policy it can cause great hardship. In many cases the mortgage lender or condo association will require the unit owner to maintain their own condominium policy.
All Types of Home Insurance
Though it's not always required, it is always recommended, for any type of home, renters or condo insurance policy. If there were an incident such as a fire, storm, or theft, your possessions would not be covered unless you have an insurance policy.
If you would like a free homeowner, renter or condo insurance quote, contact Solo Insurance online
, request a free quote
, or call 800-207-7656.