Dobbs & Braddock Inc. understands that the insurance industry uses terminology that not everyone understands. We want to put an end to that so you knowledgeably purchase insurance that suits your needs. Your home insurance covering your Altus, OK home includes perils coverage if you purchased an HO-1, HO-2, HO-3, or HO-5 policy, but what does that mean to you?
Perils Coverage Explained
Home Insurance typically includes perils coverage, coverage for unexpected acts of chance, such as wildfire, tornado, hurricane, snowstorm, etc. Home insurance includes eight different forms of coverage, but only HO-1, HO-2, HO-3, and HO-5 policies cover a dwelling with perils coverage.
Each Home Policy Offer Different Levels of Perils Coverage
Check your policy carefully though because each of the four home policies that do cover perils cover different perils. An HO-5 policy offers the broadest coverage and covers personal property, but most people end up with an HO-3 policy because they don’t know what to ask for. The other four types of home policies – HO-4, HO-6, HO-7, and HO-8 – offer no perils coverage of any kind.
When Perils Coverage Activates
As soon as the peril named in the insurance policy damages your home, the coverage activates. When the damage occurs, file your claim as long as your home policy covers that particular peril.
Contact Us to Update Your Home Coverage
Did you just check your home policy and learn that you don’t have the perils coverage you desire? Contact Dobbs & Braddock Inc. to improve the coverage on your Altus, OK home. Let us help you upgrade your home policy to an HO-5 for the most comprehensive coverage.