#1 – THE BEST POLICY HO-3
All-Risk Policy – Every peril is covered except what is excluded. Some exclusions are war, flood, earthquake, nuclear accident and other perils specifically excluded in your policy.
#2 – SECOND BEST POLICY DP-3
Same coverage as Ho-3, but is not a *package policy. Must add coverage needed.
#3 – THIRD BEST POLICY HO-2
Named peril policy – Covers 16 perils. The 10 perils is the HO8 and DP1, Plus these 6 perils. Trees and other falling objects. Weight of ice and snow. Glass breakage. Collapse of building. Freezing of pipes. Rupture or sudden and accidental overflow of a plumbing, heating, and air-conditioning.
#4 – THE WORST POLICES H08 & DP1
Covers 10 perils. Fire, smoke, windstorm, hail, lightning, explosion, vehicles and aviation, civil unrest, theft, and vandalism.
BEST RENTERS POLICY HO4
All-Risk Policy covering contents, additional living, medical payments, and liability.
BEST LANDLORD POLICY DP-3
All-Risk policy for building It should cover building, some contents, liability, and loss of rents.
✔ Back-up of sewer and drains
✔ Replacement cost on contents
✔ Flood Insurance
✔ Scheduled items
✔ Identity Theft
✔ Service Line Coverage
COVERAGE A
Damage to or destruction of building.
COVERAGE B
Damage to or destruction of detached structures.
COVERAGE C
Damage to, destruction, or theft of personal property anywhere in the world.
COVERAGE D
Added living cost to you incurred because of loss by perils.
COVERAGE E
Personal liability.
COVERAGE F
Medical payments to guests.
1. No neighborhood will be redlined. Ho-3 policies will be available to every homeowner. Each house will be evaluated on its own condition.
2. Credit Scoring will not be an obstacle in obtaining affordable homeowners insurance.
3. Excessive claims (3 or more in a 5 year period) will not exclude any homeowner from obtaining a HO-3 policy.
4. Replacement Cost coverage on building and contents available to all homeowners.
5. No roof certifications required.
6. Back up water from sewer, drains, and sump-pumps available to all homeowners
7. Elimination of forced placed policies
8. No $1500.00 deductible or higher requirement.
9. Ho-4 policies available to all renters.
All homeowners will be given an explanation and choice between HO-1, H08, & DP3 vs. HO3 and HO2 policies.
This will be done through community seminars and workshops.
