What does "HO" stand for?

Will filing one claim on my homeowners insurance cause my rates to go up?

Do I need to buy Flood Insurance?

Is there a "black list" of dogs that insurance companies will not insure?

If a tree falls on my house from my neighbor's yard, who pays for the damage?

We're going to be building a house. How do I insure it while it's under construction?

Can I insure my parents' home for them?

• HO-1. Basic homeowners. Covers your dwelling and personal property against losses from 11 types of perils: fire or lightning; windstorm or hail; explosion; riot or civil commotion; aircraft; vehicles; smoke; vandalism or malicious mischief; theft; damage by glass or safety glazing material that is part of a building; and volcanic eruption.
• HO-2. Basic homeowners plus. Covers dwelling and personal property against 11 perils plus six more: falling objects; weight of ice, snow or sleet; three categories of water-related damage from home utilities or appliances; and electrical surge damage.
• HO-3. Extended or special homeowners. Covers 17 stated perils plus any other peril not specified in your policy, except for flood, earthquake, war, and nuclear accident.
• HO-4. Renters coverage. Covers only personal property from 17 listed perils.
• HO-5. All risk coverage for building and personal property. This policy form isn't sold very often.
• HO-6. Condominium coverage. Covers personal property from 17 listed perils along with certain building items in which the unit owner might have an insurance interest. HO-8. Basic older home. Covers dwelling and personal property from 11 perils. Differs from HO-1 in that it covers repairs or actual cash values — not rebuilding costs. This is for homes where some historic or architectural aspects make the home's replacement cost significantly higher than its market value. 

Will filing one claim on my homeowners insurance cause my rates to go up?
No. In most cases, once an insurer reviews your loss history and finds none, one claim should not affect your rates. If the claim exposes some greater risk on your property, however, such as owning a trampoline or new swimming pool, then you may face a rate increase or possible non-renewal of your policy.

Do I need to buy Flood Insurance?
If you want your belongings covered against damages caused by a flood, the answer is yes. Basic homeowners insurance policies do not cover damage from flooding.  The National Flood Insurance Program (NFIP) underwrites the overwhelming majority of flood policies in the United States. While most people should at least think about getting flood insurance, it is true that some people need it more than others.

Is there a "black list" of dogs that insurance companies will not insure?
While there is no nationwide "black list", there are definitely certain breed of dogs that many companies do not want to provide coverage for. Some companies will provide insurance agents with a list others will use a case by case analysis.  Some of the usual suspects are: pit bulls, rottweilers, wolf hybrids, huskies, & german shepherds. If you are thinking of getting a dog you might want to check with your insurance agent to find out if the dog will cause problems with you obtaining insurance.

If a tree falls on my house from my neighbor's yard, who pays for the damage?
Generally the insurance responsibility lies with whoever's property is damaged. In other words, if a tree falls on your home, no matter where the tree came from, your insurance company should pay for your home repair.

An exception would be if the damage occurred as a result of negligence; for instance, if the tree was dead before it fell, and you had proof that your neighbor knew the tree was dead. Under those circumstances, the damage becomes your neighbor's liability.

As a rule, state insurance officials suggest that you file a claim with your insurance company and let them deal with it.

We're going to be building a house. How do I insure it while it's under construction?
Basically, you just need a standard homeowners policy. You should make sure to tell your insurance agent that the house is currently under construction though. Typically a builders risk endorsement is added to the policy, which provides some additional coverage while your home is being built.







Can I insure my parents' home for them?
No. You have to own the property that you insure. However, there are two ways for you to take charge of paying for the insurance premiums on your parents' home. Your name can be added to your parents' homeowners insurance policy as an additional insured, and then their agent could request that the bills come directly to you. Or, you could ask that the bills simply be mailed to your address.

I heard something about a "home warranty." What is it and where do I buy one?
Home warranties aren't insurance, but some insurance companies are starting to sell them. A home warranty will cover repair costs on items in your home such as your refrigerator and other major appliances, or your central air conditioning system. You do need to have everything in good working order before purchasing a home warranty.

Be aware that every warranty plan is unique in scope and service, with specific coverages, limits, and exclusions, so review contracts carefully before you sign on the dotted line.

Below are two companies that offer home warranties to Massachusetts Homeowners. Hannon-Ryan does not recommend nor our we affiliated with either company.