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Home Owners Insurance
Home insurance, also commonly called hazard insurance or homeowner’s insurance (often abbreviated in the US real estate industry as HOI), is a type of property insurance that covers a private residence. It is aninsurance policy that combines various personal insurance protections, which can include losses occurring to one’s home, its contents, loss of use (additional living expenses), or loss of other personal possessions of the homeowner, as well as liability insurance for accidents that may happen at the home or at the hands of the homeowner within the policy territory.
Homeowner’s policy is referred to as a multiple-line insurance policy, meaning that it includes both property insurance and liability coverage, with an indivisible premium, meaning that a single premium is paid for all risks. In the US standard forms divide coverage into several categories, and the coverage provided is typically a percentage of Coverage A, which is coverage for the main dwelling.
The cost of homeowner’s insurance often depends on what it would cost to replace the house and which additional endorsements or riders are attached to the policy. The insurance policy is a legal contract between the insurance carrier (insurance company) and the named insured(s). It is a contract of indemnity and will put the insured back to the state he/she was in prior to the loss. Typically, claims due to floods or war (whose definition typically includes a nuclear explosion from any source) are excluded from coverage, amongst other standard exclusions (like termites). Special insurance can be purchased for these possibilities, including flood insurance. Insurance is adjusted to reflect the cost of replacement, usually upon application of an inflation factor or a cost index.
The home insurance policy is usually a term contract, i.e. a contract that is in effect for a fixed period of time. The payment the insured makes to the insurer is called the premium. The insured must pay the insurer the premium each term. Most insurers charge a lower premium if it appears less likely the home will be damaged or destroyed: for example, if the house is situated next to a fire station or is equipped with fire sprinklers and fire alarms; if the house exhibits wind mitigation measures, such as hurricane shutters; or if the house has a security system and has insurer-approved locks installed. Perpetual insurance, a type of home insurance without a fixed term, can also be obtained in certain areas.
Although more people buy homeowners insurance in USA at the immediate purchase of their home, our MGT USA home owners insurance sponsors offer affordable and reliable insurance quotes over the internet as well as local agents here in USA. Their claims network is one of the largest in the world, and is usually accessible 24/7, online or by phone. Our insurance sponsors help you save on homeowners insurance by offering a host of discounts for everything from multiple-line policies to everyday safety items like deadbolts, fire extinguishers, smoke alarm, and burglar alarm.
Laredo (// lə-ray-doh; Spanish: [laˈɾeðo]) is the county seat of Webb County, Texas, United States, located on the north bank of the Rio Grande in South Texas, across from Nuevo Laredo, Tamaulipas, Mexico. According to the 2010 census, the city population was 236,091, making it the tenth-most populous city in the state of Texas and third-most populated on the Mexico–United States border, after San Diego, California, and El Paso, Texas. Its metropolitan area is the 178th-largest in the U.S. and includes all of Webb County, with a population of 250,304. Laredo is also part of the cross-border Laredo-Nuevo Laredo Metropolitan Area with an estimated population of 636,516.
Because Laredo is 95.6 percent Hispanic and Latino, it is one of the least ethnically diverse cities in the United States. When economic diversity, household diversity and social class diversity, are considered, Laredo is rated the 19th least diverse city overall out of the 313 largest cities in the nation.
Laredo’s economy is based on international trade with Mexico. Most major transportation companies have a facility in Laredo. The city’s location on the southern end of I-35 close to the manufacturers in northern Mexico promotes its vital role in trade between the two nations. Laredo International Airport is within the Laredo city limits, while the Quetzalcoatl International Airport is nearby in Nuevo Laredo on the Mexican side.