Are you looking to rent or own a property in America and have not yet
thought about the types of home insurance? Here we help you understand the
types of home insurance coverage offered in America.

Types of home insurance in America

If you own real estate in America, you need to insure it. The house with
its contents, buildings, garage, porch, front garden and other things are at
risk of damage due to unforeseen dangers, such as fire, earthquake, water
damage, vandalism, etc. That is why you must have adequate insurance to protect
your home from such accidents.

Often, if you go to apply for a mortgage, you will most likely get home
insurance coverage for this purpose, along with the loan. The annual premium
will be stated as a percentage of your property value, and usually ranges
between 0.03-0.05 percent of the property's original value.

Personal property insurance in America

We all have valuables that we always prefer to keep indoors because it
is the safest place. These items range from money, credit cards, clothes, cell
phones, laptops, jewelry and other collectibles.

There is a specific, albeit optional, cover to protect this personal
property. With this optional cover, the insurance company pays compensation in
the event your personal belongings and valuables are lost or damaged outside
the home.

Various insurance companies offer this optional cover when you purchase
a regular home insurance policy. Some also offer it as an insurance feature
within their comprehensive home insurance plans.

Guaranteed Income Insurance

In the event that the tenant is late in paying the rent amount for one
month or refuses to pay, this insurance gives you comprehensive coverage by
paying the amount due in full.

Emergency Coverage Insurance

In the event that the tenant contacts you to repair something in the
property, such as a faucet failure or a problem with a machine within the
house, it is possible through this type of insurance to cover the maintenance
fees in full or in part.

Types of real estate insurance for investors

The types of real estate investments vary between contracting,
construction, building and renting, and each of them has specific insurance
segments. When you know the types of insurance and the characteristics of each
type, you can accurately determine your need, and a professional insurance
broker can also be used to determine your needs.