Thatched House Insurance Policies

You may wonder why of course since it is indeed just a house but with a roof that is far cuter than you can ever imagine. Again, you have to realize that it is that very roof that makes it so hard for these houses to get approved for insurance. See, those decidedly charming thatched roofs are fire hazards that could ignite with one wrong move. That means no more thatched roof and in worst case scenarios, no more house. It's a sad state of events but you better believe that those houses have indeed gone into flames in more than one occasion.

It is for this very reason that some standard insurance providers flat out refuse to provide thatched house insurance to the owners of these charming houses. It must be said that they will refuse to provide insurance because there is a very high chance that these houses can go up flames and that means they will lose money in the process. It sounds a bit heartless but you have to trust that that is how it works in the world of insurance providers.

However, there may be a ray of light for thatched roofed houses owners. There are still come companies out there that will provide the insurance but of course, they will have to check the property out and do various tests before they provide the thatched house insurance to then home owners.

They will go through the house with a fine toothed comb and will give you a quote based on what you need so that you get the best plan possible. They might also insist that you install some fire alarms or have the ones that are already installed checked. Another thing that they may have a look at are the electrical wiring in the house just to make sure that there are no exposed wired that may be the catalyst for a house fire. These are necessary precautions that will work in the favour of the homeowner as well because face it, just because you have insurance doesn't mean that you want your house to burn down.

Home Insurance Policies: Your Options

Nonetheless, you must also know that getting a home insurance policy can be a little tricky. In fact, with the proliferation of companies offering policies for home insurance, the competition is getting more and more intense. And each company offers different packages and perks as bait to potential customers.

In the same manner, as you scout for a home insurance policy that will suitable for you, you will also find out that there are actually a lot of options as to the different types of policies.

This is essentially why before you sign an agreement with a company for a certain home insurance policy, it is very important that you do your research about home insurance policies and your available options first. Gather enough information as the rudiments of every policy as well the company offering it. Getting quotes from various companies is as equally important as well.

In this regard, here are some information about your options when it comes to the different types of policies that are available for home insurance purposes.

The most basic of all the home owners policies is the HO-1 or Homeowners Basic Policy-1. Essentially, this type of home insurance policy will cover your house as well as the fixtures included in it. So if in case or by any accident, your house is damage by fire, theft or natural weather occurrences, this policy will be able to cover for the expenses.

Aside from the circumstances mentioned above, this type of home insurance policy will cover your house as well as the other valuable items inside it against 10 different types of peril as declared in the agreement. The thing with this type of policy though is that a lot of companies have already discontinued offering it because they found it to be redundant in many states.

The second type of home insurance policy is the HO-2. This is actually a little more comprehensive than the first type of policy since it widened its coverage to as much as 16 different perils or causes of damage to your house as well as the fixtures and valuable items therein.

For instance, this type of policy already covers the damages that are due to plumbing, heating, ice/sleet, power outages and AC. And if you happen to be situated in a freezing area, then this policy can be a good choice for you.

Another option you can try is the third type of homeowner insurance which is the HO-3. This is actually termed as the Special HO Policy. Unlike the other policies, this type specifically focuses on the structure of your house. More so, it is able to cover all the hazards that can cause damage to your house-except those hazards which are particularly cited by the insurance company from which you will buy the policy.

On the other hand, if you want a total package, then you should do for the HO 5. This is actually the most extensive of all the homeowners insurance policies. And that is also why this is also the most expensive of all of them.

This type of home insurance policy will give your home protection against practically every factor that might damage your house. The only exemptions are war, earthquakes as well as floods. The thing with this type of home insurance policy though is that not all insurance policies carry it.

If you have a vintage of old home, then a good option for homeowner insurance policy is the HO-8. Unlike the other types of policy, this does not cover the costs for replacement. Instead, it focuses on the market value of your house.

Finally, if you are yet to buy your own home and you are just renting out an apartment or condominium, then you should ask about the HO-4 and HO-5 policies of homeowners insurance.