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The Facts About Oregon Home Insurance

Homeowners, landlord, renters, and condo insurance all fall within the category of home insurance. Whether you own the property that you live in or are renting it short term, you need to have insurance coverage to guard against accidents and losses.

Homeowners, Landlord, Condo, and Renters Policy Types: The Differences

A homeowners policy is for people who live in the home they purchased. This type of policy will cover both the outside of the home and all the contents of your home. It will cover the majority of natural disasters (certain disasters like earthquakes and floods are 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 by a thief and items are stolen your insurance will help replace stolen items and pay for any damage in terms of vandalism.

A landlord policy is similar to a home policy as far as covered losses, but there is no coverage for the property of your tenants that live in the home. There are additional coverages specific to a landlord such as wrongful eviction and loss of rental income.

A condo owner policy is also similar to a homeowner, but it provides coverage from the wall studs and inward for the part of the building you actually own as well as your personal property.

With a renter's policy, the coverage includes the inner contents of the home, apartment, or room that you are renting. This is 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 place you are living, it does not cover your own personal items as a renter, or your personal liability as the rental resident, which is why renters insurance is essential.

You may be very surprised to see the range of prices you find in home insurance quotes. You can sometimes save hundreds of dollars, or even more, simply by choosing one company over another. However, it is important that you pay attention to the details of the policy. Not all home insurance is created equal, and almost all of the policies have sub-limits for specific items and/or causes of loss such as theft of firearms, water damage and matching roofing/siding.

Our website is a great resource to begin shopping for home insurance and compare rates with our preferred carriers. Start your quote online, or contact us today to start the process of finding the best value for the coverage that is right for you.