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Home insurance is a form of insurance that every homeowner needs. For most of us, cheap car insurance and our homes are the single largest investment we may ever make. Therefore it is of vital importance that we protect that investment. For money lenders if you are seeking a mortgage loan, you will be required to obtain homeowners insurance before receiving the loan. In fact it would be quite difficult to find a lender or auto insurance quotes for that matter that did not have this requirement. For this purpose there are several different types of homeowners insurance that are available, covering different things. The following article will explain the different types of homeowners insurance and discuss some things that may affect the price of a policy.

An organization known as the ISO was formed in 1971, or the Insurance Services Office. Seven standardized homeowners insurance forms have been established by them. Each one covers a different set of possible perils.
HO-1 This is the most basic of the policies. This covers your dwelling and personal property against wind storm or hail, fire or lightning, explosions, riots or civil commotion, vandalism or malicious mischief, aircraft, vehicles, smoke, theft, cheap car insurance and broken glass.
HO-2 This type of policy covers everything covered in HO-1 but in addition it also protects against falling objects, freezing of plumbing, heating, and air-conditioning systems, building collapse, leakage or overflow of water from within a plumbing, heating, or air conditioning system, damage caused by the weight of ice, snow, and sleet, damage of a water heating system, and accidental injury from electrical currents along with auto insurance quotes.
HO-3 This type is the most common policy for the homeowner. It covers everything that the HO-2 policy covers along with liability from visitors that may be injured on the premises and cheap car insurance.
HO-4 This is the type of policy that is commonly referred to as renters insurance. In this type of policy the dwelling is not covered or cheap car insurance, since the owner of the policy is not the owner of the dwelling. Their personal property however, would be protected against the same perils and liabilities as in an HO-3 policy.
HO-5 This policy is similar to HO-3 but is more comprehensive, includes auto insurance quotes and covers a broader range of perils.