A home is one of the greatest financial investments you will ever make. It is also one of the greatest financial assets will you ever have. So it makes sense when you are in the market for affordable, quality North Carolina home insurance that you choose a policy which adequately protects you and your investment.
Most people understand the importance of having a policy which covers damages resulting from natural disasters severe thunderstorms, wind, hail, etc.
What many people don’t know is that many standard insurance policies consider damages from floods, wildfires, earthquakes, and tornadoes as “extra” and unless your policy is written to specifically cover these occurrences, you could be without coverage and not realize it! It is also important to include adequate protection from theft.
Many people underestimate the cost of replacing personal property. And again, if you have what might be considered “luxury” items, certain jewelry, antiques, carpets, etc. you may be required to list them separately (with actual appraisal amounts) to have full coverage in case of theft (or fire, smoke damage, water damage).
Finally, liability coverage is important and is a sometimes overlooked component of a well-planned North Carolina home insurance policy. This provides protection in case someone is injured while on your property.
Also, remember that there are things you can do to prevent loss and minimize the chance of damages. Some simple, yet important, steps you can take are to install smoke detectors throughout your home (and also maintain them), install a security system, place fire extinguishers in high-risk areas, and keep your yard and home free of debris. By doing this, you not only lower your risk of loss and damage, but you can also decrease the amount of your premium payments.
Once you have read through the article and have put together a policy which is suitable for your needs and circumstances, the people at insuranceUSA.com are standing by with North Carolina home insurance quotes that will allow you to finalize your selection.
Choosing Your North Carolina Home Insurance Policy
North Carolina home insurance policies vary according to individual needs and requirements. Generally speaking, there are two types of North Carolina home insurance policy options to choose from – monoline and package policies. A monoline North Carolina home insurance policy only has one specific type of coverage, such as liability. A package North Carolina 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 North Carolina home insurance policy. InsuranceUSA.com can help you decide just which North Carolina home insurance policy is right for you!
There are seven standard types of North Carolina home insurance policy options to choose from, depending on your personal needs. Each is described in brief below. For more information on these North Carolina home insurance policy options available, contact insuranceUSA.com.
Homeowner-1 (HO-1): Offered by very few North Carolina 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 North Carolina 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 North Carolina 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 North Carolina 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 North Carolina 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 North Carolina home insurance policy offers the same coverage as HO-4, but is used only for condominiums.
Homeowner-8 (HO-8): This North Carolina 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 North Carolina 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 North Carolina 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 North Carolina Home Insurance Do you Need?
Buying North Carolina 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
North Carolina home insurance has a policy “term period” which means the insurance company cannot cancel or not renew a policy unless they are legally-justified in doing so.
Normally, most insurance policies will be cancelled if the policy-holder fails to pay their premiums or they submit fraudulent claims. Other instances, which might warrant cancellation are if the policy-holder is convicted of a crime; they make changes to the property rendering it uninsurable; or if they create unsafe conditions that increase the insurer’s risk.
Usually, after the policy term ends, the insurer, if they wish to cancel or not renew your policy, will have to provide adequate notice.
Buying the Right North Carolina Home Insurance
It is important to make sure that you are buying North Carolina home insurance from a reputable source. In order to make sure that the company you are working with is properly registered with the North Carolina authorities just ask for a copy of their North Carolina license number. With this number you will be able to purchase your home insurance with real peace of mind.
A good North Carolina home insurance company will give you a detailed questionnaire to complete before giving you a quote. Make sure that you complete the questionnaire carefully as it will help the company to provide you with a good quote.
Never underestimate the importance of good service from your insurance. The service levels that you look for should be as important as the price.
Buying the Right North Carolina Home Insurance On-line
On-line comparison sites have taken a lot of the pain out of looking for North Carolina home insurance. Just go to InsuranceUSA.com and your will get a great selection of providers to choose from. Make sure that when you use a site you answer the questions provided as carefully as you would on a paper questionnaire. These questions allow the comparison engine to do its job and give you the best options for your circumstances.
Cost should be only one of the factors that you consider when you are buying North Carolina home insurance on-line. Being happy with the way a company answers your questions and works with you on claims is equally as important.
- Banner Elk
- Bessemer City
- Black Mountain
- Boiling Springs
- Bryson City
- Castle Hayne
- Chapel Hill
- China Grove
- East Bend
- Elizabeth City
- Elon College
- Forest City
- Fort Bragg
- Four Oaks
- Fuquay Varina
- High Point
- Holly Springs
- Hope Mills
- Indian Trail
- Kill Devil Hills
- Kings Mountain
- La Grange
- Lake Lure
- Mars Hill
- Mill Spring
- Morehead City
- Mount Airy
- Mount Holly
- Mount Olive
- Mt Airy
- Mt Pleasant
- N Wilkesboro
- Nags Head
- New Bern
- New Hill
- North Wilkesboro
- Oak Island
- Old Fort
- Pilot Mountain
- Pisgah Forest
- Red Springs
- Research Tri Park
- Rich Square
- Roanoke Rapids
- Rocky Mount
- Rocky Point
- Rural Hall
- S Brunswick
- Siler City
- Southern Pines
- Spring Lake
- Spruce Pine
- Tabor City
- Trent Woods
- Union Mills
- W Jefferson
- Wake Forest
- Walnut Cove
- West End
- West Jefferson
- Willow Spring
- Winston Salem
- Wrightsville Beach