Save up to $755 Instantly on Homeowners Insurance Norristown Pennsylvania!
Not every insurance company is taking aggressive rate increases on homeowners insurance.
Call 215-646-5633 and speak with the experts at Humphries Insurance. We can shop the market and find the most competitive rates on homeowners insurance in Norristown and the surrounding areas.
Exercise Caution When Shopping for Pennsylvania Home Insurance.
A word of caution is necessary when shopping for homeowners insurance. First you should be aware that insurance policies are not all identical, especially homeowners insurance.
There might be major differences in homeowner’s insurance protection between insurance companies.
Let’s consider one such difference in coverage between the H03 and H05 policy form.
The H03 and H05 Policy Pennsylvania Home Insurance Policy- What Is the Difference?
The H03 insurance policy provides coverage on your contents under something called a named perils option. Essentially what named perils coverage means is that for coverage to apply the peril must be named in the policy.
So in other words fire is a named peril. If your house catches on fire and your contents are damaged or destroyed by a fire you would be covered up to your available policy limits.
What if the peril that causes the damage or destruction of my personal property is not named in the policy?
No coverage would apply!
In contrast the HO5 homeowner’s insurance policy form removes named perils coverage as a condition. Notice this coverage definition with one insurance company:
We cover risks of direct physical loss to property under the Personal Property Coverages, except for losses excluded by the exclusions in Section I of your policy.
So Unless It’s Excluded It Would Be Covered by the H05 Pennsylvania Home Insurance Policy!
Besides the difference of coverage between the H03 and H05 there may be many other variances in coverage between companies particularly in what is excluded.
So in other words if your property coverage limits and deductibles are identical you cannot assume that what is covered with one company would be covered by another company!
Insurance companies are free to change the exclusions of coverage within Pennsylvania homeowner’s insurance policies so you must take time to understand what is covered but more importantly what is excluded!
Contact the Homeowners Insurance Experts at Humphries Insurance!
We offer a free policy review when you’re shopping for homeowners insurance in Norristown Pennsylvania.