Home Insurance in Boonville, NY

Taking out a home insurance policy can be a complicated matter. Still, foregoing the process can put homeowners at risk of deep financial losses in the face of accidents, losses, or disasters. Let’s take a closer look at policy details.

Understanding Perils

Unlike other types of insurance, a home insurance policy is defined by the specifics of what it covers. These specifics are known as perils, or particular events that cause damage or loss to the home as defined by the insurance company. Common examples of perils are theft, fire, explosion, and various damages caused by sudden events. It’s important to read and remember your policy because policies are specific about which perils are included. Others larger policies are specific about which perils are excluded.

Types Of Home Insurance Policies

There are eight basic home insurance policies, which can be briefly explained. HO-1 is considered the most basic, covering only ten perils and only the main structure. HO-2 covers add on structures like garages and sheds. HO-3 is called “special form,” and is the most common because it details a twenty-one-point list of perils it excludes which change depending on the region the dwelling is in. HO-4 does not cover perils so much as personal items and liabilities for renters. HO-5 is considered elite coverage because it has an exclusive list of perils and covers not only additional structures but the contents of the home as well. HO-6 is similar to HO-4, but applies to condominiums. HO-7 applies to mobile homes with an exclusive list of perils. HO-8 works on a cash-value basis for older homes and includes ten basic perils.


What can be taken away from basic home insurance policies is that there are ample opportunities for homeowners and renters to protect themselves based on their needs. Personal property loss and additional living expense policies make it so that theft and disaster doesn’t leave you and your family in immediate danger. Perils, when broken down by policy, can set a homeowner at ease. When owners are living in areas prone to a certain type of damage such as fire and lightning damage or weight of ice damage, they are covered based on these perils. The fears associated with home ownership can be set aside by policyholders.

Find What Is Best For You

We can assist in helping you get a quote for the home insurance policy you need. Keep in mind that different insurance companies entail specific policies and payment plans.