Home Insurance

Purchasing Maine home insurance shouldn’t be a time-consuming process and you don’t need to buy so much insurance that you can’t afford the premiums. Always buy just enough to cover the value of your home if it is completely destroyed.

Many times an insurance company will require you to have your home inspected to determine its value. Homeowners will want to create an inventory of their possessions such as appliances and furniture. Update it yearly or whenever a major purchase is made. Also, always take photographs and save your receipts.

When it comes time to buy Maine home insurance, you can request a free quote from InsuranceUSA. Further questions on your policy can be answered by your insurer.

Choosing Your Maine Home Insurance Policy
Maine home insurance policies vary according to individual needs and requirements. Generally speaking, there are two types of Maine home insurance policy options to choose from – monoline and package policies. A monoline Maine home insurance policy only has one specific type of coverage, such as liability.

A package Maine home insurance policy offers several different types of coverage. The package policy may include property and liability insurance together, for example. For most people, it is more cost effective to buy a package policy instead of a monoline Maine home insurance policy. InsuranceUSA.com can help you decide just which Maine home insurance policy is right for you!

There are seven standard types of Maine home insurance policy options to choose from, depending on your personal needs. Each is described in brief below. For more information on these Maine home insurance policy options available, contact insuranceUSA.com.

Homeowner-1 (HO-1): Offered by very few Maine home insurance policy companies, this policy option has very narrow coverage. It usually covers damage from fires, lightning, smoke, wind, hail, burglary, theft, explosion, glass breakage, vehicle damage, riot and civil unrest, as well as civil judgments, medical payments, personal property, and expenses if forced to live away from home for a short period of time.

Homeowner-2 (HO-2): This Maine home insurance policy covers everything listed in HO-1, as well as falling objects, damage from the weight of ice or snow, damage from leaks or freezing in the plumbing system, electrical damage to appliances, and damage cause by a rupture in the water heater.

Homeowner-3 (HO-3): Also called a Special Form Policy, this is the most common type of Maine home insurance policy in use. It covers all physical losses, except for those that are specified in the policy. Exceptions often include floods, earthquakes, war and other disasters, natural and man-made.

Tenant/Cooperative Owner (HO-4): This Maine home insurance policy is for renters or owners of cooperative units. This is used to insure against damage to the tenant’s possessions, and personal liability for physical damage suffered while in the unit.

Homeowner-5 (HO-5): This Maine home insurance policy covers everything listed in HO-3, plus personal possessions against loss, except for specific exclusions listed in the policy.

Condominium Unit Owner (HO-6): This particular Maine home insurance policy offers the same coverage as HO-4, but is used only for condominiums.

Homeowner-8 (HO-8): This Maine home insurance policy option is similar to the HO-1 policy. The difference though is that it provides an actual cash payment instead of replacement cost coverage. This Maine home insurance policy is usually only used in the case of older homes where the property exceeds the market value.

No matter what type of Maine home insurance policy you need, InsuranceUSA.com is ready to help you get all the information you need to make the right choice!

How Much Maine Home Insurance Do you Need?
When considering Maine home insurance, utilize InsuranceUSA.com to do research and request a free quote. If you have any questions about your policy, make sure you ask your insurer.

When buying Maine home insurance, most insurance companies will insist on a home inspection to determine the home’s value. Also, make sure you compile an inventory listing your most valuable possessions such as furniture and appliances. Take photographs, hang onto your receipts and update your policy at least once-a-year to account for any additions or changes to your home.

It is important to have enough Maine home insurance to cover your home’s value in case of total loss or damage but not so much that you can’t afford the premiums.

Non-Renewals and Policy Cancellations
When considering an Maine home insurance policy, you will want to know what the laws are regarding non-renewals and cancellations. Typically, your insurance company reserves the right to cancel your policy after the “term period” so long as it provides legal reason(s) for the cancellation. At the end of the policy term period, your insurer must give you notice if they are going to cancel or not renew your policy.

Typically, your policy is safe from cancellation for the term period except when one or several things occur including non-payment of premiums; felony-conviction; insurance fraud; willfully creating conditions, which threatens the safety of the insured property; and making changes to the property, which renders it uninsurable.

Purchasing Maine Home Insurance
The first thing to do when you decide to buy Maine home insurance is make sure that you are working with a company that is appropriately licensed. To find out if they are licensed to sell Maine home insurance just ask for a copy of their Maine license number.

Your next step will be to answer a list of questions that will give the insurer enough information to make sure that you are sold the appropriate Maine home insurance. It is vital that you answer the questions carefully and don’t leave anything out.

When you are looking around for an insurer make sure that you find out about the level of service that they provide. This is equally as important as the cost. The lowest price isn’t always good value.

Purchasing Maine Home Insurance via the Internet
Shopping around for good quality Maine home insurance is very important. You should get a minimum of three quotes. To gather the quotes you can use either the phone or the internet. The internet is a fast and easy way to do your home insurance research and to find the best deals without having to leave your house.

The internet has become a key part of the home insurance sector. Insurance agents provide quotes over a growing number of comparison websites. All you need to do is fill in the online questionnaires and a quote will be returned to you at the click of a button. InsuranceUSA.com is a great place to start your search.

Remember that price is not the only thing to keep in mind when purchasing Maine home insurance. Companies that answer questions and deal with claims quickly and efficiently will be your best choice when buying Maine home insurance.