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 Arizona 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 Arizona 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 Arizona home insurance quotes that will allow you to finalize your selection.
Choosing Your Arizona Home Insurance Policy
There are several different options to look at when you are shopping for a Arizona home insurance policy. Following are brief descriptions of each type of policy, but InsuranceUSA.com can explain the available for Arizona 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 Arizona home insurance policy is actually offered by very few insurers because it has very narrow definitions. This type of Arizona 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 Arizona 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 Arizona home insurance policy is often called the Special Form Policy. It is the most widely used Arizona 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 Arizona 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 Arizona 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 Arizona 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 Arizona 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.
Arizona 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 Arizona home insurance policy is just right for you!
How Much Arizona Home Insurance Do you Need?
Purchasing Arizona 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 Arizona home insurance, you can request a free quote from InsuranceUSA. Further questions on your policy can be answered by your insurer.
Non-Renewals and Policy Cancellations
State laws mandate that your Arizona home insurance cannot be simply cancelled during its “term period”.
However, if you fail to pay your premiums or make any false claims, your insurance company can legally cancel your policy. Also, if you are convicted of a crime; make modifications to your property so as to deem it uninsurable; or create conditions wherein the property is considered unsafe, you may face cancellation as well.
Once the term period has passed, your insurance company reserves the legal right to cancel or not renew your policy. In any event they must provide the policy-holder with adequate written notice.
Buying the Right Arizona Home Insurance
It is important to make sure that you are buying Arizona home insurance from a reputable source. In order to make sure that the company you are working with is properly registered with the Arizona authorities just ask for a copy of their Arizona license number. With this number you will be able to purchase your home insurance with real peace of mind.
A good Arizona 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 Arizona Home Insurance On-line
On-line comparison sites have taken a lot of the pain out of looking for Arizona 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 Arizona home insurance on-line. Being happy with the way a company answers your questions and works with you on claims is equally as important.
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