Home Insurance

We have probably all become more aware of the importance of having reliable, quality home insurance over the past few years, especially after seeing the disasters of hurricanes, tornadoes, and wildfires and the damages they leave in their aftermaths. Not only can they involve a personal and financial loss, but also an emotional one as well.

When you are in the market for Minnesota home insurance, it is important to know all the facts and choose a policy which is right for you and your circumstances. We have all heard the stories about people who thought they had the coverage they needed, only to find after disaster actually struck, their specific policy didn’t protect them adequately, or worse, not at all.

For most people, their home is their greatest investment. Usually, it’s also their greatest financial asset. So it makes sense when you are considering Minnesota home insurance to choose coverage which gives you the security and peace of mind of knowing that you and your investment are fully covered and protected. This means having coverage not only for natural disasters, but also for theft, fire, and even liability (if someone is injured on your property).

Also, it is important to remember that renters need Minnesota home insurance. Your personal property has value and you need to have adequate replacement coverage in case of fire, theft, etc. There are several factors which are important to consider when making your decision about the amount of coverage you need.

Remember that the better your coverage, the less financial obligation you have in the event of a claim. Also, if you have a mortgage, your lender may have specific requirements which you are obligated to adhere to. You also need enough liability coverage to protect yourself in case of a lawsuit resulting from your negligence.

After you have read through the article and determined your needs and the type of Minnesota home insurance you want, we at insuranceUSA.com are ready to assist you with the home insurance quotes that will provide you with the coverage and satisfaction you both need and deserve.

Choosing Your Minnesota Home Insurance Policy
There are several things to keep in mind when you are choosing your Minnesota home insurance policy. First of all, you need to decide if you want a monocline Minnesota home insurance policy or a package Minnesota home insurance policy. The monoline policy gives you just one type of Minnesota home insurance coverage. For instance, monoline Minnesota home insurance often only covers liability.

A package Minnesota home insurance policy offers several different kinds of coverage, such as property insurance as well as liability. In general, it is more economical to buy a package Minnesota home insurance policy.

There are 7 different types of Minnesota home insurance policies. It is important to known which one best fits you needs and requirements for a solid Minnesota home insurance policy. The seven types are Minnesota home insurance policies are:

Homeowner’s 1 (HO-1) policy: This type of Minnesota home insurance policy is actually offered by very few companies because it covers such limited options. Covered by an HO1Minnesota home insurance policy are fire, lightning, smoke damage, windstorm and hail, burglary and theft, explosions, glass breakage, vehicle or aircraft damage, riot and civil commotion, vandalism and malicious mischief, bodily injury, damage to the property of others, civil judgments, medical payments, personal property away and at home, and expenses if forced to live away from home for a temporary period of time.

Homeowner’s 2 (HO-2) policy: This covers all the items in an HO1 policy, plus falling objects, damage from the weight of ice or snow, water from plumbing problems, freezing of the pipes and plumbing, electrical damage to appliances, and rupture of water heaters and heating systems.

Homeowner’s 3 (HO-3) policy: This is also called a Special Form Policy and it is becoming the most used Minnesota home insurance policy. This covers your home for all physical loss, except for those losses that are specifically not covered. These can include earthquake, flood and war.

Tenant/Cooperative Owner’s (HO-4) policy: This Minnesota home insurance policy insures against damage to the contents of an apartment and against personal liability from damage suffered in the insured person’s unit.

Homeowner’s 5 (HO-5) policy: This Minnesota home insurance policy covers everything in the HO-3 policy, plus the physical loss of personal possessions, except for those specifically mentioned.

Condominium Unit Owner (HO-6) policy: This Minnesota home insurance policy is designed for condominium units, and includes all coverage as HO-4.

Homeowner’s 8 (HO-8) policy: This Minnesota home insurance policy covers all the same items as HO-1, but gives cash coverage instead of replacement cost coverage. This is generally used when the replacement value of property exceeds the market value.

InsuranceUSA.com can provide you with all of the information you need to make the right choice for the Minnesota home insurance policy that is right for you!

How Much Minnesota Home Insurance Do you Need?
Buying Minnesota home insurance is a simple matter but you may be wondering how much insurance you need.

As a rule-of-thumb, you should only buy as much insurance to cover any loss you may experience but not so much that you can’t afford the premiums. Most likely, any potential insurer will require you to get your home’s value appraised by a licensed, professional home inspector.

In addition, you will want to inventory all your possessions especially major appliances and furniture. Also, be sure to take photographs and retain receipts for future reference. Once-a-year, update your inventory to account for any new purchases or changes.

Finally, if you ever have any questions about your policy, contact your insurer for answers. As always, you can utilize InsuranceUSA.com to perform research and request a free quote!

Non-Renewals and Policy Cancellations
Once you enter your Minnesota home insurance policy “term period”, it cannot be simply cancelled or not renewed. In most cases, an insurance company must provide coverage for the entire term period regardless of the risk.

However, if the policy-holder fails to pay his premiums or files a false claim, the insurer can legally cancel a policy during the term period. Also, a felony conviction will usually warrant cancellation, or if unsafe conditions exist at the property or it is altered or made uninsurable.

In most cases, once the policy term period ends, the policy-holder will continue to enjoy uninterrupted coverage. If an insurance company does decide to cancel or not renew a policy, they can do so for any legal reason so long as they provide adequate notice.

Obtaining Good Minnesota Home Insurance
When you begin to shop around for Minnesota home insurance you must first make sure that you know that the suppliers that you are considering are properly registered with the state authorities. The easiest way to check any insurer out is to simply request a copy of the State issued certificate that has their license number on it.

Once you start to work with a specific insurer they will present you with a survey to complete. The results of this survey will give the Minnesota home insurance provider the means to give you a good quote. The more information you include in the survey the more accurate the quote will be.

A low price doesn’t always guarantee a high level of service. Make sure that you are happy with the fact that the insurer you choose will be responsive in a timely manner if you need to file a claim with them.

Obtaining Good Minnesota Home Insurance via the Internet
Shop around when you buy Minnesota home insurance. You can use traditional means such as calling or using a shop front office but it is easier and more efficient to shop for your Minnesota home insurance using your computer. There are many good sites available to make your search for appropriate Minnesota home insurance a fast and pleasant experience.

Try InsuranceUSA for a hassle free insurance buying experience. As with the more traditional means of buying Minnesota home insurance you will need to answer a series of questions for the insurer to be able to make sure that they have the right product on offer for you.

Speed of response and fair treatment when handling claims is as important as the cost. Make sure that you consider all of these factors when you choose your Minnesota home insurance.