North Carolina Homeowners Insurance
Your home and your belongings are probably one of, if not the most, valuable assets you have. It’s where you eat, sleep and support your family, so your house is what you want to protect. Weather, floods, crime, and other accidents can wreak havoc on your home and belongings. No one wants to deal with the immediate damage, property loss, and financial burden that come with these scenarios. The Bennett Group Insurance Consultants is here to help you find the right North Carolina home insurance.
Avoid the risks
Imagine if your home receives some sort of catastrophic damage. Not only will you possibly lose your home and contents, you may very well be financially and emotionally exhausted. Furthermore, home insurance can also protect you from more common things like leaking pipes and property damage, because even minor problems can add up, and comprehensive coverage can protect your biggest investment.
Make sure you have the right coverage for your home in North Carolina
North Carolina home insurance covers a variety of options to suit your housing and lifestyle needs. When considering home insurance options, consider the following coverages:
Finding the right coverage for your unique needs can seem overwhelming. But we’ll make it easy. The Bennett Group will ensure that you get the coverage that best suits your needs and situation.
What are the different types of North Carolina homeowners insurance?
DP1
This type of policy provides the most limited coverage. This policy does not cover personal liability and medical payments to others, unless endorsed.
HO8
Similar to a DP1 in its limited coverage, but includes personal liability and medical payment to others.
HO2
Provides named peril coverage for your dwelling, other structures, and personal property.
HO3
This is the most common policy. It is similar to and HO2, but it has open peril coverage on your dwelling and other structures.
| Items Covered | DP1 | HO8 | HO2 | HO3 |
|---|---|---|---|---|
| Fire |  | | | |
| Lightning | | | | |
| Internal Explosion | | | | |
| Wind | E | | | |
| Hail | E | | | |
| Aircraft/Vehicles | E | | | |
| Riot | E | | | |
| Explosion | E | | | |
| Smoke | E | | | |
| Vandalism | E | | | |
| Burglar Damage | X | X | | |
| Ice/Snow/Sleet | X | X | | |
| Glass Breakage | X | X | | |
| Accidental Water Discharge | X | X | | |
| Falling Objects | X | X | | |
| Freezing Pipes | X | X | | |
| Electrical Damage | X | X | | |
| Collapse | X | X | | |
| Tearing Asunder | X | X | | |
| Theft of Personal Property | E | | | |
| Flood | X | X | X | X |
| Water Damage | E | E | E | E |
| Earth Movement | E | E | E | E |
| Personal Liability | E | | | |
| Medical Payments To Others | E | | | |
| Dwelling | N/ACV | N/ACV | N/RC | O/RC |
| Other Structures | N/ACV | N/ACV | N/RC | O/RC |
| Personal Property | N/ACV | N/ACV | N/ACV | N/ACV |
Endorsement (E): Also known as a rider; optional coverage to broaden your insurance protection.
Named Peril Coverage vs. Open Peril Coverage:
Peril: The reason for the loss. (ex’s: fire, lightning, & wind)
Named Peril (N): Only covers the specifically named perils in the policy.
Open Peril (O): Covers all perils unless specifically stated as uncovered peril.
Actual Cash Value vs. Replacement Cost:
Actual Cash Value (ACV): The cost it would take to replace an item, minus depreciation
Replacement Cost (RC): The cost it would take to replace an item.