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HO? HO 2? HO 3? Is this a training Santa Claus has happened? No, it’s a quick look at the different levels of homeowners insurance you have is a choice. According to the airline with which you work (and their fondness for things that are labeled with letters and numbers instead of words) a little knowledge about the various levels of primary coverage before signing on the dotted line you put in an excellent position to to negotiate the best coverage at the lowest possible price.

HO1: This is the equivalent of a basic insurance for your car, your home protects against the basics: fire, smoke, wind, hail, vandalism. In fact, the purchase of a policy HO1 you buy the bare necessities in homeowners insurance. Not every state has a policy HO1, by its very limited range. Your insurance agent will probably encourage you to invest in a policy of broader coverage.

HO2: The HO2 policy covers all recorded more damage HO1 to six other risks (such as your insurance agent to clarify for you), including breaks in plumbing and household appliances, falling objects and damage caused by ice and snow in winter. If you live in the north where the winters tend to be difficult, political HO2 will be a necessity.

HO3: There is a general insurance that protects you own almost everything. These policies have generally exclude damage from floods and earthquakes, but is usually purchased by the U.S.: If you do not live in a high risk area like California or the Gulf of Mexico, a policy HO3 sufficient for your protection needs.

HO4 HO4: even as renters insurance to insure against the tenant property, if they live in a rental property known. Most owners have insured their buildings, but that does not apply to damage to property tenant in the event of theft, fire, burst pipe or other disaster that might occur.

HO5: HO5 similar policy HO3 policy but a policy HO5 allows the owner of an all risks policy in their homes and not have the structure. This protects the contents of their home in the unpredictable and firmly safeguard their financial future that might otherwise appear along the path.

HO6: A unit owner, is known as insurance co-owners, for owners of condominiums, including full coverage for both part of the building from the owner of the policy and the content of your own coverage, and it spans the gap between the environment and / or policy of the building and the real value of personal property of the owner.

Some insurers offer additional levels of coverage on your personal needs to adapt, but knowing these six get ready to make the best decision when it is time to come on the dotted line for your homeowners insurance sign.