Insurance to safeguard your property and possessions, regardless of whether you own or rent. Each package guards against particular dangers.
Customized policies are sometimes written and filed by insurance companies.
Standard forms that are available from rating organizations like the Insurance Services Office Inc. (ISO) are utilized by insurers who do not file their own policies.
Again, insurance companies will typically insure your property in one of two ways: the named-risk strategy approach and the open-danger strategy approach, which are addressed by HO-2 and HO-3 property holders protection, individually.
In the event of a loss, the named-peril policy is a less expensive option that names all events against which you are covered.
The open-risk strategy is a greater expense approach that, while insinuating limitless inclusion, names rejections you’re not safeguarded against.
