Home insurance for your Georgia property is a must. However, not all home insurance is the same. Like selecting the right car insurance, there are different insurance opportunities for you. Embark Insurance Group, Inc can assist with finding the right coverage, you just need to know what policy types are available so you can determine what not only works best for your housing needs, but also your financial needs as well.
The bare-bones policy, also known as HO-1 provides hazard insurance almost across the board, including lightening, fire, smoke damage, hail, burglary, vandalism, civil judgment and almost any other form of coverage you can think of. HO-2 coverage is the next tier up, covering the same as HO-1 in addition to damage from the weight of ice/snow on a roof, plumbing problems, electrical damage to appliances, freezing pipes and other issues. HO-3 is one of the most commonly used forms of insurance. This insurance protects your home against damage, although it usually does not offer protection for earthquakes, water seepage or flooding.
There are a few different policy options you can consider as add-ons to your standard home insurance policy. A cash value policy offers you to pay the original purchase price of whatever is damaged inside of the house in the event of property destruction. However, it does remove wear and tear from the value of the property (it also does not include inflation). A replacement value policy is able to cover the cost of replacing or repairing personal property or the house itself, no matter the cash value or the purchase price. There is no reduction or depreciation for wear and tear, although the replacement value is pegged at the original price and does not include inflation, although there are some exceptions based on the exact kind of policy and add-ons you decide to consider for your home.