Homeowners Insurance

Homeowners insurance (or property insurance) is not a one-size-fits-all proposition. If you own your home, you need different insurance than someone who rents. Additionally, coverage can be adjusted up or down based on the value of your home or possessions. While working with an agent will help assure you get the coverage you need, it makes sense to learn about the options on your own so you can help make the right decisions. Consider the following standard insurance options and discover which may work for you.

Homeowners Coverage

  •  HO-1 Limited Coverage Policy – A limited policy that protects against some, but not all, major disasters.
  •  HO-2 Basic Policy – Protection against all major disasters.
  •  HO-3 Most Popular Option – This protects against all types of perils except those that are specifically excluded.

Renters Coverage
HO-4 Renter – This protects the possessions that you keep inside a home or apartment you rent.

Co-Op or Condo Coverage
HO-6 Condo/Co-Op – A policy that provides coverage for your possessions or any structural elements you own in a condo you rent.

Levels of Coverage
No matter if you own, rent or live in a condo, there are three distinct options that help determine your coverage. These include:

  1. Actual Cash Value – Pays to replace your home or possessions, minus depreciation.
  2. Replacement Cost – Pays the cost to replace, rebuild or repair damaged or destroyed property or possessions.
  3. Guaranteed or Extended Replacement Cost – This is the highest level of protection. It covers the cost to replace or repair your home and possessions even if it exceeds the limit of the policy. This covers you even if construction or replacement costs suddenly rise.

Remember, at ISU-Wissink we can provide coverage for all your property insurance requirements including homeowners, condo, renters, flood, earthquake, hurricane, personal property, umbrella and more. No matter what your needs, choose the knowledge and expertise of ISU-Wissink Insurance, Servicing all of Los Angeles and Orange Counties, California– Call us today at 310-390-3318.

California License Number 652703.