Understanding Home Insurance Coverage Against Perils
The type and extent of hazards or perils your home insurance policy covers depend on your coverage level. Our experts at The Mitchell Agency LLC of Alabama will help you comprehend and select the appropriate level of coverage based on the most frequent perils occurring in our state.
Named Perils Coverage
The kind of homeowners insurance you opt for determines whether you require named perils or all perils coverage. A named-perils policy provides coverage only against events listed explicitly in the policy document. An HO-1 policy covers the ten most common perils, including fire, hail, and vandalism. An HO-2 policy additionally covers six perils, including the weight of snow, sleet, or ice and freezing pipes.
All-Perils Coverage
Most homeowners opt for HO-3 coverage, also identified as open-perils coverage, which excludes a few perils such as earthquakes and animal-induced damage, including damages by pets, vermin, or insects. For this level of coverage, earthquake coverage can usually be added as a rider. On the other hand, HO-5 coverage, offering comprehensive coverage, covers all perils and provides increased coverage of personal belongings. HO-5 does not explicitly name specific perils but rather covers all perils not listed in its exclusion section.
Protect Your Home Today
Get in touch or email us at The Mitchell Agency LLC to buy or enhance your home insurance, imbuing your Alabama home with superior coverage against life’s many haphazard perils.
