The purpose of a homeowner’s insurance policy is to provide protection from loss and damage due to unforeseen circumstances. Therefore, understanding the terminology involve in acquiring Homeowners Insurance in La Quinta CA is critical in ensuring that you have the best coverage.
Buying a home insurance policy offer you protection against damage to your property, and it also offer protection against loss to your personal belongings. Homeowners Insurance in La Quinta CA can be purchased coverage under six specific categories H01, H02, H03, H04, H05 and H06.
H01 is a basic homeowner’s policy, and it provides coverage for loss that occur due to fire, smoke, lightning, vandalism, theft, ice, snow, windstorm hail, riot and volcano eruptions.
H02 provides coverage above what is covered in H-01, and it offers protection against any loss that occurs as a result of flooding caused by plumbing, frozen pipes and heating system malfunction.
H03 is a policy that protects against things such as theft of jewelry and damage caused by nature. It also covers many of the items covered under an H02 policy such as damaged caused by flooding due to plumbing. However, it does not provide any protection due to earthquakes or natural flooding. If you live an area prone to flooding or earthquakes, you will have to buy a separate policy. It also covers any injury liability lawsuits against you if someone sustains an injury on your property.
H04 and H06 basically cover the same thing. Homeowners Insurance in La Quinta CA that uses one of these policies has protection for personal property, walls, floor and ceiling. Condominium owners often purchase these two types of coverage.
H05 is a comprehensive policy. It provides the same benefit as the H03 policy, but it offers more. Since it is a comprehensive policy, it tends to cost anywhere from 10 to 15 percent more than some of the other policy. Owning a comprehensive policy protects you and gives you piece of mind.
