Whether you live in a townhouse, condo, rambler, mansion, apartment, castle, mobile home, or cabin; it’s essential that you carry the proper form of insurance to cover not only the dwelling you reside in, but also your personal belongings. While the additional coverages you can purchase are as varying as ice cream sundae toppings – home Insurance itself is broken down into two basic types, the first being for someone who owns (or is in the process of purchasing) their home, and the second being for those who rent their home, or are a tenant of someone else.
If you’re living in a frame built home than you need to look at the cost associated with rebuilding your entire home in the event of a total loss. Whereas, if you reside in a condo, your Homeowners Association Handbook will specify what parts of the building are insured already for you, and what parts are your own responsibility. Usually in these situations, the condo owner is responsible for what’s referred to as “studs in coverage” – more on this in an upcoming post. As for renters or tenants – these folks have no insurable interest in the home/dwelling/apartment themselves, that is already covered by their landlord. Their policy simply covers their own personal belongings, and personal liability. Over the next few weeks I’ll take a closer look at the various options when purchasing home insurance – as well as some of the larger risks that people tend to forget all about.
If you ever have questions on your auto insurance, homeowners insurance, life insurance, business insurance, or health insurance; don’t hesitate to give us a call, email, or visit our website and request free information. We’d love the opportunity to make sure you and your family have the coverage you need, at a price you can afford.
(360) 778.1200 1873 Main Street #5 – Ferndale, WA 98248
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