Even for the more experienced homeowner, North Carolina laws for home and property insurance can be challenging to navigate. While this can be especially so for people who are new to the Raleigh area from out of state, this does also apply to people who have lived here their whole lives.
Unfortunately, most people never really learn about the full provisions of their insurance, unless they are called upon to use it. At this point, it can be too late to make any corrections to the coverage, so understanding the different forms of homeowner’s insurance for Raleigh residents can be vital in making sure that a home is fully covered.
What Is Not Covered
One of the important points to make is actually what is not covered in a basic and even comprehensive policy, as these factors are often overlooked.
- Earthquakes
- Mudslides
- Mudflows
- Landslides
- Floods
Each of these coverages can be obtained as an adjunct provision on a policy, but homeowners must make the point of asking for this to be included. Flood is a particularly important one for Raleigh residents, as our lower elevation can lead to issues with water. Further, flood damages can be extensive and having the right insurance for this can alleviate a lot of stress.
Policies For Homeowners
Residents also have the choice of several types of foundational policies that they can initially use, with adjunct measures as an addition to the coverage.
- Homeowners Broad Form – this type of policy can be ideal for any single family structure or townhome and gives holders some coverage in each of the categories for concern. This is a good basic form that can also be added to as needed.
- Homeowners Special Form – this is also applicable to single family structures, but the insurance follows an open perils basis. This essentially means that the coverage can become more customized than in a broad form, although coverage rates for both of these types are relatively even.
- Homeowners Content Broad Form – this is highly applicable to Raleigh residents who rent their apartment or house, as it covers the property of the occupant, as well as medical expenses and other losses that can happen with an accident. Content forms can be highly specialized, but it protects renters and their property.
- Homeowners Comprehensive From – this is also applicable to single family structures and townhomes, but also works on an open perils basis. However, it also means that the comprehensive form can be highly customized to meet resident needs and concerns.
- Homeowners Unit-Owners Form – this insurance is specific to Raleigh residents who own condominiums, and provide a very specific coverage that fits this dwelling. Insurance provisions in all categories include possessions and interior damage, although exterior damage is not considered applicable, since residents do not actually own the outside of the structure.
- Homeowners Modified Coverage Form – this is also a very specific form of insurance for Raleigh residents who live in older homes. This policy considers depreciation and market value in calculation coverage for different categories, but can also protect owners in cases of a complete loss.
Discovering which insurance is right for your home and your family can take some navigating of information. However, by contacting Amistad Insurance Services, you can also receive the sound advice and guidance that you need to make sure your home and your property is insured as it should be.
