One thing is for sure whether you're a homeowner, a flat owner or renter, Property and casualty insurance coverage is a most. The kind of insurance coverage you get should be based on your own need. read more guaranteed replacement cost type coverage called a HO-3 maybe what you need. Or the renters HO-4 with cash coverage, or the step up from the HO-4, the HO-5, using its extended guaranteed replacement cost, or a Condo/Co-op HO-6 policies with extended replacement cost coverage? Well if you're a renter or a house owner these concepts should not be foreign to you, if it's then its time to educate yourself on the fine print of homeowners insurance.In my experience when a homeowner is educated on these matters they are more likely to obtain far better deals from the insurance provider. As they say information is power. What is the overall risk that the policy will cover and how much will undoubtedly be paid to cover my losses?Then there are 1 of 2 subcategories that your coverage would fall in hat is the Name Peril and All Peril.This follow up article will look more closely at the kinds of homeowners insurance policies which are out there and how to choose the one that is right for you.Are you currently a renter, live in a co-op, single house, or condo owner? If that's the case, then the insurance coverage you need to cover your premises and contents is normally termed HO with lots after it.HO-1 is the standard policy coverage which protects you in the instance of theft, explosion, fire, riot, smoke, hail, lightening, windstorm, damage resulting from vehicles, aircraft, volcanoes, and vandalism.From the looks of things, this list appears to cover you for almost anything that could go wrong. But this is not so. Dwell on all the "out of no where" scenarios that could crop up that are excluded from the list. Try this on for the unexpected. In the wake of a negative winter, you discover you now have a leaky roof, or your pipes cave in causing flooding in your basement. Or your brand new, high speed computer gets fired from a power surge, along with almost everything else in your own home. No need to freak out if all you now have is HO-1 coverage. You can raise your policy to the HO-2 grade.Upgrading from the HO-1 and HO-2 will be the HO-3 to HO-5 homeowners policy. Beneath the All Peril area I contained in Part A of this post, is where you will discover HO-3 to HO-5 coverage.While your HO-3 through HO-5 coverages do include all hazards, they do have exclusions listed in the policy that will not be insured. HO-3 to HO-5 insurance policies don't include coverage for wars, earthquakes, and floods. Searching for insurance to cover you in the event of mold damage. Well, the HO-3 to HO-5 policies may restrict the coverage for mold or not offer it at all.With a HO-6 insurance coverage, condo owners can qualify for coverage that would be much like a homeowner's policy. Under the HO-4 Coverage renters would be able to get coverage for their home content. If you're a homeowner and you have had your policy for over 12 years then you might have a named risk policy rather than even know it. Determine if Additional info is named risk if it is the change it to a all risk type policy.No matter what your needs there exists a policy that is perfectly for you. You just have to get a quote from several insurance companies and pick the one home Insurance quote that a lot of closely fits your need.To learn More About CUTTING YOUR Homeowners Insurance By 75% Visit Renters Insurance7