Home Insurance

Your home is one of your greatest investments. So it is important when you are searching the many Missouri home insurance companies for whatever type policy you want, to be armed with the facts and knowledge that will allow you to make an affordable and sound choice.

There are many different types of Missouri home insurance coverage and it is in your best interest to understand what is available and especially to formulate coverage that protects you and your home in the best way possible.

Most consumers don’t think a lot about home insurance. Like other types of insurance, your needs may change from year to year, depending on items you purchase (personal property) or perhaps upgrades and/or additions you may make to your property. These can all add value to your home, but it also means that you might need to increase the amount of coverage you have in case you ever need to file a claim. This is why it’s important to review your Missouri home insurance policy annually (or more often depending on your circumstances).

Many people think of the normal types of coverage for their home insurance- fire, storms, earthquakes, etc. It’s wise to remember that many policies don’t include natural disaster-type coverage. They are considered “extra”, which usually means the specific type of coverage (flood, earthquake, hurricane) has to be added separately and also at an additional cost over the normal policy amount. You want to make sure you have adequate coverage for theft, also.

Most people woefully underestimate the cost of what they would need to fully replace personal property remember you have to think of all possible items- furnishings, clothing, jewelry, electronic equipment. Smoke and water damage from a fire can be almost as devastating as the fire itself, so you need to protect yourself reasonably when choosing your Missouri home insurance coverage.

When you have read the following information and are ready to pick your personal policy, insuranceUSA.com is ready to assist you with quotes from many different sources so that you can choose the plan which is just right for you!

Choosing Your Missouri Home Insurance Policy
There are several different options to look at when you are shopping for a Missouri home insurance policy.

Following are brief descriptions of each type of policy, but InsuranceUSA.com can explain the available for Missouri home insurance policy options and help you find the very best fit for your needs. In a nutshell, the policy categories are:

Homeowner’s -1 (HO-1): This type of Missouri home insurance policy is actually offered by very few insurers because it has very narrow definitions. This type of Missouri home insurance policy covers many types of damage, including fire, smoke, lightning, wind, hail, burglary, theft, breaking glass, bodily injury and vandalism. It also covers medical payments, personal property and living expenses if you have to live away from home for a limited amount of time due to damage.

Homeowner’s-2 (HO-2); This Missouri home insurance policy option covers everything listed in HO-1, as well we damage from falling objects, ice or snow, water from the plumbing system, damage to appliances, and leaks or ruptures from water heaters.

Homeowner’s-3 (HO-3): This Missouri home insurance policy is often called the Special Form Policy. It is the most widely used Missouri home insurance policy. This covers your home for most types of risks of physical loss, such as floods or earthquakes. You must read this policy very carefully so that you know exactly what is included in the coverage.

Tenant’s/Cooperative Owner’s (HO-4): This Missouri home insurance policy option is designed to insure an apartment’s contents, as well as offering personal liability for injuries that occur in the unit.

Homeowner’sw-5 (HO-5): This Missouri home insurance policy offers the same coverage as HO-3, but it also covers personal possessions for risk of physical loss. This type of protection can be added onto the HO-3 policy as a special personal property clause.

Condominium Unit Owner’s (HO-6): this for of Missouri home insurance policy offers the same coverage as HO-4, but it is designed for insuring condominiums.

Homeowner’s-8 (HO-8): This is a modified version of Missouri home insurance policy HO-1 and it provides an actual cash value coverage instead of replacement cost. This type of insurance is usually for older homes, where the property exceeds the market value.

Missouri home insurance policy options are generally divided into two categories: a monoline or a package policy. The monoline policy only contains one type of coverage.

The package policy includes several different types of coverage, based on the requirements of the policyholder. It is generally a better deal financially to invest in a package policy.

Let insuranceUSA.com help you decide which type of Missouri home insurance policy is just right for you!

How Much Missouri Home Insurance Do you Need?
When you purchase Missouri home insurance, you should inventory your possessions. Make sure you take photographs of your most valuable items such as furniture and appliances; and always hang onto your receipts. Update your inventory at least once-a-year or when you buy something new.

You will also need to know the value of your home and how much it would cost to replace if it is completely destroyed. Most insurance companies will have you obtain a physical inspection to determine your home’s value before they will write a new policy.

Always buy just enough Missouri home insurance to cover your loss but don’t overdo it so you can’t afford the premiums. Be sure to ask you insurer any questions you may have or use InsuranceUSA to research a new policy and request a free quote.

Non-Renewals and Policy Cancellations
Missouri home insurance has specific rules and laws governing how and why an insurance company can cancel or not renew your policy. Normally, homeowners need not worry their policy is going to be cancelled unless they warrant it for any or all of the following reasons:

  • Failure to pay premiums
  • Committing fraud or filing false claims
  • Being convicted of a crime
  • Changing the property so it is uninsurable
  • Altering the property so that unsafe conditions are created

Once the state-mandated term period has passed, an insurer may cancel or not renew a policy so long as they provide adequate notice and a legal reason or reasons for the action.

Purchasing Missouri Home Insurance
The first thing to do when you decide to buy Missouri 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 Missouri home insurance just ask for a copy of their Missouri 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 Missouri 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 Missouri Home Insurance via the Internet
Shopping around for good quality Missouri 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 Missouri home insurance. Companies that answer questions and deal with claims quickly and efficiently will be your best choice when buying Missouri home insurance.