The coverage you have depends upon the type of policy you have. Unlike auto insurance, where the policies are pretty much the same, homeowners policies can be quite different, depending on the “form” number.
The most common types of homeowner policies are:
- HO1 Basic or Standard policy
- HO2 Broad form
- HO3 Special (also called Deluxe, All Risk)
- HO4 Renters policy
- HO5 Enhanced Special Coverage
- HO6 Condo policy
- HO8 Older Home Policy
All homeowner policies are “package” policies. You get a group of coverages packaged into your policy for one overall premium. They include coverage on your building, your contents (furniture, clothing, etc.) and liability insurance in case you are sued, under the same policy. The property coverage is shown under Section 1, while the liability coverage is described under Section 2.
There is no better way to understand your homeowner policy than to read it! We suggest you pull out your policy and find the parts to your policy that correspond to the following explanations:
A typical policy consists of three things:
1. The Declarations Page – that declares who, what and how much you are insuring, along with the date your coverage starts and the premium.
2. The Policy Booklet – printed pages that contain the details of coverages and exclusions.
3. Endorsements – separate pages, usually with endorsement numbers, that change (or endorse) specific parts of the policy.
Sometimes you are only given the original policy once in the beginning, then on renewal, to cut down expenses, you are just sent the dec. page (declaration page) with the bill. It’s a good idea to save the original policies should you ever need to refer to them.
More Detailed Information:
The HO1 policy is very limited in coverage and is not being sold by most companies.
The HO2 policy covers the basic perils of fire, lightning, explosion, smoke, hail, aircraft, riot, glass breakage, theft and damage caused by vehicles. It also adds additional coverage to broaden your policy. Those perils include damage caused by rupture of your water or heating pipes, falling objects (such as trees), collapse of the building, limit electrical damage to appliances and others.
The HO3 policy is, by far, the most commonly sold policy. It covers everything the HO2 policy covers and more. Instead of listing the perils that are covered these policies cover all damage to the building except what is excluded. The usual exclusions are: wear and tear, termites, rotting, collapse of septic tank, flood, war, earthquake and a few others.
Some HO3 policies are referred to as “Deluxe” , “Special” , “All Risk” policies depending upon the company.
Most policies cover your contents or belongings only for the perils named in an HO2 policy so wear and tear and normal breakage is not covered for your furniture and personal belongings.
Be careful! Your homeowner policy limits coverage on some items.
To keep the cost of insurance down your policy probably has limits on certain items. Typical limits are:
- Cash – $200
- Jewelry – $1,000
- Firearms – $2,500
- Silverware – $2,500
Check your policy carefully. If you see you don’t have enough coverage, find out how much it would cost to increase those limits or to buy special coverage.
In addition to special coverage for jewelry, silverware and furs, you can purchase specific coverage for such possessions as stamp or coin collections, fine arts, camera equipment, collectibles, watercraft and musical instruments, just to name a few.
Commercial Solutions Ins.
2200 Franklin Street Bellevue, NE 68005
Testimonial from Eric Crouch
As a new client, so far I have only had a positive experience with Commercial Solutions and I already recommended them to others.
-Customer since 2017
Very polite and informative! Very service oriented.
-Steve R., customer since 2012
I appreciate the personal attention and annual renewal meetings. I prefer having a face to face conversation rather than just a "sign here to renew" letter being sent out. I like to ask questions and be sure that my coverage is what I actually need and hear suggestions if changes are necessary.
-Customer since 2016
Jeff & the team at Commercial Solutions are great at getting finding solutions for our insurance needs. I really appreciate the quick response time and friendly service.
-Cathy H., customer since 2014
Commercial Solutions responds quickly, usually same day, and provides us with insurance that our clients request with no problems.
-Jean M., customer since 2015
Jeff & his team are always very fast & courteous in their help to us. Pricing, value... no comparison. A trusted relationship with extremely knowledgeable professionals... they have won our business through consistently demonstrating they put their clients first. Thank you for all your help & guidance. Mike & Sheri Jacoby
-Michael J., customer since 2011
Very easy to work with (Traci is great!!!). I was in a complicated position and you were quick to find me a solution to insurance needs that were above my expectations. Overall service has been great.
-Customer since 2016
I really appreciate how quick you are to get me a quote. Your office is always very professional and friendly.
-Customer since 2014
The customer service at Commercial Solutions Insurance is stellar! The rates are excellent and they really care about their customers.
-Chris R., customer since 2016
We liked how easy it was to sign up, and that it was explained to us well. I do like even more that when we do have a question the customer service is on it. It's nice to know your there to answer questions instead of the old "we got you money now don't bother us" thing that happens all to much with some other companies. Thank you
-Vince S., customer since 2014
Located in Bellevue, NE . We also serve the Council Bluffs, IA, LaVista, NE, Lincoln, NE, Omaha, NE and Papillion, NE areas. - Licensed in Colorado, Iowa, Illinois, Kansas, Missouri, Nebraska and South Dakota