Finding homeowners insurance can be a tricky process to maneuver through. Understanding how much coverage you need, what needs to be covered, and what you can afford can be difficult to comprehend. However, there is another question that is often never thought of. What type of homeowners insurance do I need? Finding the answer to that question can help you find the most affordable homeowners insurance for you and your family.
HO-1 to HO-4
Homeowners insurance in Tampa can range between one of eight levels. The first level, HO-1, is the most basic form of homeowners insurance. This level offers the minimum coverage required by a mortgage lender. Moving on from HO-1 to HO-2, you may not find many differences. This second level offers similar services with a slight increase in overall coverage. HO-3 is the most common level as it provides the most affordable homeowners insurance while giving you a great level of coverage. The last level in the lower subset is HO-4. This level of homeowners insurance in Tampa is commonly known as renters insurance.
HO-5 to HO-8
The second subset of homeowners insurance offers a variety of coverages. The first level, HO-5, is the most comprehensive homeowners insurance in Tampa plan and is commonly used for single-family dwellings. HO-6 insurance is commonly known as condo insurance. This specific type of homeowners insurance is used for homebuyers that own one or more condos. HO-7 is another specific type of homeowners insurance that is designed for mobile or manufactured homes. The last type of insurance, HO-8, is used for homes that don’t qualify for specific homeowners insurance levels that are required by the lender.
Most Affordable Homeowners Insurance | HH Insurance
Choosing the right homeowners insurance can be a difficult path to navigate. Understanding your lender’s requirements and more importantly what the homeowners insurance in Tampa plan you choose covers is crucial. That’s why at HH Insurance we make sure every agent you speak to is experienced and ready to work on a custom plan for you and your family.