Home insurance

Malhotra & Assoc. Insurance Has You Covered

Need Homeowners Insurance?

Our friendly team makes finding homeowners insurance easy and affordable. Regardless of the type of coverage you require, we will create a tailored package that suits your needs and your budget. With over 25 years of experience, you can contact us for honest advice, affordable prices, and a truly personalized service.

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Homeowners Insurance Types

There are eight types of homeowners insurance policy, ranging from HO-1 to HO-8. The most common home insurance policy is an HO-3. HO-3 policies are typically all-risk policies, meaning they cover all perils that are not specifically excluded from the policy. This coverage usually includes fire, lightning, smoke, hail, theft, and vandalism. Flood and earthquake damage are commonly excluded. Water backup coverage can be purchased separately to cover damage to your home or belongings because of sewer or plumbing issues.

Under an HO-3, you can find coverage for:

  • Dwelling. Dwelling coverage provides compensation to the insured if the physical structure of the home is damaged or lost due to certain perils. 
  • Personal Property. Contents coverage provides compensation for your personal belongings that are lost or damaged due to the same perils as covered under the dwelling coverage. 
  • Liability. Liability insurance steps in if you or a family member cause bodily injury or property damage to someone else.
  • Additional Living Expenses. Additional living expenses (ALE), also known as “loss of use,” helps with the cost of momentarily moving somewhere else while repairs are being made to the home.

Homeowners Insurance Cost

The cost of your homeowners insurance will depend on the area you live in and the cost of your house, both of which affect the risk of insuring your property. If you live in an area with a lower or higher risk of natural disasters occurring, this will impact your cost.

Buying Homeowners Insurance

We work hard to make sure you get great value and high quality service. Our tailored homeowners insurance quotes can cover your home, contents, and other valued items when they are in the property and, if requested, away from home. 

Most mortgage providers will insist you buy homeowners insurance, which is designed to help you cover yourself against costly events. In certain cases you may receive more or less coverage, but you are typically covered against damage caused by the following events:

  • Frozen Plumbing
  • Falling Objects
  • Fire and Smoke
  • Hail
  • Floods
  • Windstorm
  • Water Damage caused by appliances, HVC, plumbing, or water heater

Homeowners Insurance Discounts

Our team can help you find the best policy while providing affordable home insurance with any relevant discounts. To reduce the cost of your homeowners insurance, you can bundle insurance policies together and buy more than one policy with the same insurer.

Renter’s Insurance

Renter’s insurance covers your personal belongings from fire, theft, vandalism and more. You can add protection to cover flood and earthquake damage. Renter’s insurance does not cover the physical dwelling—the landlord’s insurance should cover the structure of the apartment or other rented property.

For personal possessions coverage, you should have enough to match the replacement value of the belongings you want to insure. Your insurance will cover either the actual value of your belongings or the replacement value, which will pay out different amounts in the event of a claim.

In a shared accommodation, you should buy renter’s insurance or make sure each roommate is written onto the policy.

Condo Coverage

Protect your condo with an HO-6 insurance policy. These policies are tailored specifically for condo owners and cover your personal belongings and liability along with the physical unit. Know that this does not cover the entirety of the condo’s structure—that should be covered under the homeowner’s association’s coverage.

Contact Us Today for a Home Insurance Quote

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