In Hawaii, people come for the beaches but stay for the aloha spirit. However, though the Big Island is quite a paradise, homeowners are not immune to the perils of accidents and natural disasters. The local real estate professionals at Lani Properties Corp., in Honolulu stress the importance of having the right comprehensive coverage to protect yourself, your loved ones, and your investments. To give you a sense of what’s available, here they discuss a few common options.
A Guide to Property Coverage
As the most common type of homeowners insurance, the special form policy tends to be affordable and offers a broad range of coverage. Rather than outline the specific risks and problems they protect, these plans review what they don’t cover, instead. Anything not included in this list will be taken care of.
As perhaps the most bare-bones policy, this coverage only protects you in the event of specific perils. These typically include fire, explosions, lightning, hail, theft, vandalism, damage from vehicles or aircrafts, riots, and volcanic eruption. Should anything else happen to your home, however, you would be financially responsible.
A form that includes everything from the basic type of insurance and more, the broad policies cover your home’s structure, as well as your belongings and personal liability. It will also protect you in the event of some additional perils, including falling objects and the sudden tearing apart of household systems.
A comprehensive policy is much more inclusive than those previously listed. However, the contract may have quite a few exclusions, such as water damage, issues caused by pets, war and government action, or corrosion.
5. Older Home
Finally, an older home policy is designed for buildings erected many years ago. Historic homes and landmarks often carry these plans, which are very similar to special forms but tailored to the structure’s age.
If you’re in the market for a new home and insurance, the real estate professionals at Lani Properties Corp., will help you find the house of your dreams. They’ll guide you every step of the way to ensure you understand the real estate jargon. Plus, their team of knowledgeable locals know the island well and will provide honest advice and a strict code of ethics. If you have any questions, feel free to reach out to them at (808) 521-0081. You can also learn more about them on their website.