The State of Pennsylvania has a lot to offer to its citizens and tourists alike. This is particularly true for lovers of the great outdoors, seeing as PA is well-known for its beautiful, natural surroundings. From streams, to trails, to forests, numerous adventures await those who want to live in this state.
One thing you should keep in mind though, when you’re about to become a homeowner in this beautiful state, is the insurance you need as a homeowner. To help you understand better how important and useful a robust Pennsylvania homeowners insurance policy is, check out this factual guide.
Coverage for losses caused by freezing
In Pennsylvania, companies offer a wide array of forms within the homeowners insurance sector: a total of 8. These include the following policies:
- Homeowners Basic Form (Form 1)
- Homeowners Broad Form (Form 2)
- Homeowners Special Form (Form 3)
- Tenants Homeowners or Cooperative Homeowners Form (Form 4)
- Homeowners Form (Form 5)
- Condominium Homeowners Form (Form 6)
- Homeowners Older Home Form (Form 8)
All these, with the sole exclusion of the Form 8, include specific coverage for losses caused by freezing. It covers losses that arose from any of these two situations: when water exited the heating system, or when the hot water system ruptures due to freezing.
There is a specific limitation to this though: the coverage only applies to insured dwellings that are occupied when the loss or damage took place. Insurers would also take a close look at whether or not the policyholder properly maintained these systems.
Coverage for outbuildings
In the event that any detached structure on your property, such as your garage, sustains damages, you’ll receive a coverage equivalent to 10% of the total amount of insurance you have on your house. For example, you have a $150,000 policy. Your insurer will cover $15,000 for repair costs.
To increase this, you can contact the company providing you with your homeowners insurance policy to request for a raise on this coverage.
Coverage for household contents and personal property
In Pennsylvania, six of the insurance forms, except Forms 4 and 6, automatically include personal property damage or loss insurance. You receive this additional coverage as part of your entire policy. The total amount varies from one policy to another though, as this depends on the overall amount of insurance. The typical coverage is 50% of the entire insurance though.
So if you have a $150,000 policy, your insurance company most likely will pay a total of $75,000 to provide coverage for the contents of your home as well as your other insured personal belongings.
The bottom line
You should do your part and be a responsible policy holder. As long as you have good financial-related practices, such as remaining on top of your credit, you have great chances of securing a Pennsylvania homeowners insurance policy with lower premiums.