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Home Insurance

When people shop for home insurance, they are actually seeking not just one type of coverage but possibly several different varieties. Homeowners insurance, renters insurance, and condo insurance are all typically included within the category of home insurance. Whether you own the property that you live on or whether you are renting it short term, you need to have insurance coverage to guard against disasters and losses. Let our Members Assurance team help you with your unique needs.

Homeowners, Condo, and Renters Policy Types: The Differences

A homeowners policy is for people who own their own home. This may be either a house or a condominium. Essentially, if you are making payments on the home with ownership as the end goal you will need some type of homeowner's insurance.

Homeowners insurance will cover the outside of the home and all the contents inside of your home, cover the majority of natural disasters (certain disasters like earthquakes may be excluded but you may add extra coverage for that specific purpose) and will allow you to replace or rebuild damaged property. If your home is broken into and items are stolen, your insurance will help replace stolen items and pay for any related damage. Also very important, homeowners insurance will provide liability coverage up to a certain limit.

Condominium coverage can be very complex. It is highly recommended that condo owners work with an agent specifically trained in setting up condominium coverage. Our Member's Assurance team will be happy to assist you if you wish to learn more.

With a renter's policy, the coverage includes the inner contents of the home, apartment, or room that you are renting. Renter's insurance also provides a basic amount of liability coverage, coverage for the break-ins, fires, and other circumstances that are beyond your control. Even though your landlord will have a homeowners policy on the building you are living, it does not cover your own personal items or liability as a renter, which is why renters insurance is essential.

You may be surprised to see the range of prices you'll find in comparing home insurance quotes. You can sometimes save hundreds of dollars or more simply by choosing one company over another. However, it is important that you get quotes only from reliable top carriers. Your Member's Assurance independent agent is the best resource for this since they can accumulate multiple quotes from the top carriers for you online. Our Member's Assurance team will give you the power to compare all the best policy options conveniently at home!