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Home Buying – the Basics of Homeowners Insurance

ADDED ON September 29, 2017 0 COMMENTS

home buying

Once you’ve purchased your dream home, it’s time to protect it!  Home buying can be very risky without homeowners insurance. It is essential for safeguarding your most valuable possession against defects, vandalism and disaster. It will cover the costs of repairs in the event of calamities such as fire, storms,earthquakes, vehicles, aircraft, riots, theft, and faulty household systems or appliances.  In the La Canada Flintridge area, you will also want to consider other types of insurance so check with your insurance agent. It’s important to find out what type of homeowners insurance you need after buying a home. A good insurance agent will be able to assist and counsel you with these decisions.

During the home buying process, you will be asked to provide the name of your homeowner’s insurance carrier. It’s important that you take time to investigate the different types of homeowner’s insurance, and become familiar with the terms. Costs can very between different insurance carriers, and sometimes there is a benefit to using the same insurance company for your home that you already may use for your car or other insurance coverage. So – shop around!

There are six basic types of homeowner’s insurance:

  1. HO-2, the least expensive type, covers only named perils such as fires or lightning. If the peril is not named, it’s not covered.
  2. HO-3, generally recommended as the minimum coverage, includes open perils protection. It covers all direct physical losses with certain exceptions such as earthquakes, floods and intentional loss.
  3. HO-4, renters and tenants insurance, covers personal property rather than the structure itself. There are also exclusions for which types of perils are covered.
  4. HO-5 covers open perils and adds a rider, which includes protection of personal property. Exceptions also apply.
  5. HO-6 is for condos or co-ops. It is similar to HO-4, but also covers improvements you may have made to the dwelling.
  6. HO-8 is for older homes. It insures the home for the repair cost or market value instead of the cost to replace it.

Let’s find your dream home now!

Take a look at these latest homes for sale in La Canada Flintridge:

  1. 5 beds, 7 baths
    Home size: 6,003 sq ft
    Lot size: 24,468 sqft
    Year built: 2017
    Days on market: 2
  2. 5 beds, 3 baths
    Home size: 3,166 sq ft
    Lot size: 16,000 sqft
    Year built: 1999
    Days on market: 4
  3. 4 beds, 4 baths
    Home size: 3,471 sq ft
    Lot size: 22,364 sqft
    Year built: 1962
    Days on market: 6
  4. 1 bed, 1 bath
    Home size: 718 sq ft
    Lot size: 6,265 sqft
    Year built: 1952
    Days on market: 6
  5. 4 beds, 2 baths
    Home size: 3,894 sq ft
    Lot size: 23,191 sqft
    Year built: 1975
    Days on market: 8
  6. 5 beds, 6 baths
    Home size: 5,620 sq ft
    Lot size: 35,275 sqft
    Year built: 2002
    Days on market: 9
  7. 4 beds, 3 baths
    Home size: 3,569 sq ft
    Lot size: 27,432 sqft
    Year built: 1953
    Days on market: 12
  8. 4 beds, 3 baths
    Home size: 3,569 sq ft
    Lot size: 27,432 sqft
    Year built: 1999
    Days on market: 13
  9. 3 beds, 2 baths
    Home size: 1,883 sq ft
    Lot size: 11,070 sqft
    Year built: 1950
    Days on market: 14
  10. 5 beds, 4 baths
    Home size: 3,972 sq ft
    Lot size: 13,319 sqft
    Year built: 2011
    Days on market: 16

See all Real estate in the city of La Canada Flintridge.
(all data current as of 1/16/2018)

Listing information deemed reliable but not guaranteed. Read full disclaimer.


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