Types of Homeowners Insurance
Homeowners Insurance with The Hood Insurance Agency
As a homeowner, safeguarding your investment through the right insurance coverage is crucial. Homeowners insurance protects your home and personal property from unforeseen damages or losses. There are various types of homeowners insurance policies available to help you make an informed decision on the best policy for your needs.
At Hood Insurance Agency, based in Lynnwood, WA, we recognize that your home is a major investment, which is why we work hand in hand with you to protect it with a homeowners insurance policy that protects this dream investment. So whether you have found the perfect starter home, recently completed your custom dream home, or have something in between, let us help you protect the life you have made in your home.
Types of Homeowners Insurance Options
Basic Homeowners Insurance
This type of policy is the most basic form of coverage, providing protection for a limited number of perils such as fire, lightning, hail, and vandalism. It typically only covers the actual cash value of your home and personal belongings, which takes into account depreciation.
Renters Insurance
This type of policy is designed for renters who do not own their own home. It provides coverage for personal property and liability, but not for the structure of the dwelling itself. This policy is typically more affordable than other types of homeowners insurance policies.
Condominium Insurance
This type of policy is designed for condo owners, providing coverage for personal property and liability, as well as coverage for the interior structure of the unit. It typically does not cover the exterior of the building or the common areas, which are usually covered by the condo association’s insurance policy.
Mobile Home Insurance
This type of policy is specifically designed for mobile homes, providing coverage for the structure of the home, personal property, and liability. It may also include coverage for damage caused by earthquakes or floods, which are not covered by most other types of homeowners insurance policies.
Flood Insurance
This is a separate policy from homeowners insurance that provides coverage for damages caused by flooding, which is typically not covered by standard homeowners insurance policies. This policy is often required by lenders if you live in a high-risk flood zone.
Earthquake Insurance
This type of policy provides coverage for damages caused by earthquakes, which are also typically not covered by standard homeowners insurance policies. This policy is usually required in areas with a high risk of earthquakes.
Second Home Insurance
This type of policy provides coverage for a vacation home or other secondary residence. It typically offers similar coverage to a standard homeowners insurance policy, but may also include additional coverage for items that are only used seasonally, such as boats or recreational vehicles.
Why Partner with Hood Insurance Agency
homeowners insurance is an important investment for homeowners as it provides protection for their homes, personal property, liability, and peace of mind. Protecting your home and your family’s well-being is essential, and homeowners insurance offers a safety net in case of unexpected events. If you’re a homeowner without insurance or want to review your coverage, our insurance professionals are here to assist you. Contact Hood Insurance Agency today to discuss your homeowners insurance needs and find the right policy to protect your investment.
Our service doesn’t end once you become a client. Once you become a part of the wolfpack, our dedicated team on insurance experts will be there to assist you with all of your policy service needs including renewal reviews, claims handling, audit assistance, and so much more. We are passionate about helping business owners in Lynwood, WA get the coverage they need. Contact us today to learn more about our business insurance services and how we can help you!
How Homeowners Insurance with The Hood Insurance Agency can help:
There's a fire in your kitchen
Risk:
You act quickly and prevent a grease fire from getting out of control, but smoke damages the counters and cabinets in your kitchen.
Coverage:
Property coverage in your policy can help if your house is damaged by fire and/or smoke
Thieves strike while you are away
Risk:
You return from a family vacation to discover thieves have stolen electronic equipment from your media room.
Coverage:
If your possessions are stolen, damaged or destroyed in an insured loss, your coverage can help replace them, up to the policy’s stated limits.
A visitor is injured
Risk:
A guest at your annual Fourth of July barbecue trips on the steps between your deck and the lawn — fracturing his wrist when he falls against a stone retaining wall.
Coverage:
Medical payments coverage can cover the medical costs if a visitor is hurt on your property, regardless of liability.
A tornado hits
Risk:
You heard the warning sirens and escaped uninjured, but you can’t live in your house while tornado damage is repaired.
Coverage:
Coverage for additional living expenses can help with the extra cost of temporary relocation caused by a covered event.
Workers' Compensation
In a best-case scenario, you’re able to manage an injury so employees can get back to work as quickly as possible. A workers’ compensation policy can address medical care and lost income for your employees, death benefits for survivors, and your potential liability for covered claims. At the Hood Insurance Agency, we work with you to reduce costs and improve recovery times – by making quick contact with an injured employee and using excellent medical providers for a specific injury or illness.
Your jewelry is stolen
Risk:
You mastered the basics of surfing during lessons in Hawaii — but your wedding ring is stolen.
Coverage:
With personal possessions coverage, lost jewelry is covered up to your policy limits.
You lose your passport
Risk:
While on vacation in Europe, you lose the tote bag that has everyone’s passports.
Coverage:
Your homeowners policy can help with the cost of replacing passports and other valuable papers.