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Compare Specialty Homeowners Insurance

The ideal homeowner – at least to an insurer, is an affluent individual, couple or family with a stellar insurance rating.  Their home is located in a safe, desirable neighborhood, is new or fully renovated and updated.  The prospective policy holder has never filed a claim on any of his or her past insurance policies.  These individuals receive the best insurance rates, with desirable added discounts and incentives.

Specialty homeowners insurance is not designed for that ideal homeowner.  Instead, specialty homeowner’s insurance allows homeowners with less than ideal profiles to obtain the homeowners insurance coverage that may be denied to them by conventional insurers. Several factors contribute to the need for specialty homeowners insurance.

  • Pets that are dangerous or perceived to be dangerous
  • Prior claims, especially involving allegations of fraud
  • An older home in need of extensive renovations
  • A historic home with landmark status

How Specialty Homeowners Insurance Works

The presence of even one of these factors can make it difficult or impossible for homeowners to obtain insurance for their properties. Specialty homeowners’ insurance addresses often address these difficulties by attaching specific requirements, exclusions or limitations to standard homeowners’ insurance policies. This allows homeowners with hard-to-insure properties to obtain insurance for those elements of their residences that are not problematic.

The types of requirements, limitations or exclusions that are applied vary according to the specific issue associated with a home or a homeowner.  For instance, a homeowner with a pet pit bull could obtain a policy that protects his or her home, but contains limitations on liability concerning dog bites from the family pet.

Functions of Specialty Homeowners Insurance

While such policies are not as inexpensive as policies for homeowners considered to be ideal by insurers, they do provide the coverage that homeowners need.  Specialty homeowners’ insurance policies provide coverage and protection for the same three general areas as conventional homeowners insurance: protection against loss, protection against damage and protection against liability.   In fact, many specialty homeowners’ insurance policies provide nearly identical coverage as conventional homeowners insurance.  The exception is the rider, limitation or exclusion attached to the particular circumstance that makes the homeowner or the home ineligible for conventional homeowners’ insurance coverage.

Obtaining Specialty Homeowners Insurance

Homeowners whose circumstances would disqualify them or their homes from obtaining conventional home insurance coverage should consider seeking insurers that specialize in specialty homeowners insurance. Doing so maximizes their chances of being able to obtain the insurance coverage they need – rather than having an insurer deny their applications.

Compare Specialty Homeowners Insurance

The ideal homeowner – at least to an insurer, is an affluent individual, couple or family with a stellar insurance rating.  Their home is located in a safe, desirable neighborhood, is new or fully renovated and updated.  The prospective policy holder has never filed a claim on any of his or her past insurance policies.  These individuals receive the best insurance rates, with desirable added discounts and incentives.

Specialty homeowners insurance is not designed for that ideal homeowner.  Instead, specialty homeowner’s insurance allows homeowners with less than ideal profiles to obtain the homeowners insurance coverage that may be denied to them by conventional insurers. Several factors contribute to the need for specialty homeowners insurance.

  • Pets that are dangerous or perceived to be dangerous
  • Prior claims, especially involving allegations of fraud
  • An older home in need of extensive renovations
  • A historic home with landmark status

How Specialty Homeowners Insurance Works

The presence of even one of these factors can make it difficult or impossible for homeowners to obtain insurance for their properties. Specialty homeowners’ insurance addresses often address these difficulties by attaching specific requirements, exclusions or limitations to standard homeowners’ insurance policies. This allows homeowners with hard-to-insure properties to obtain insurance for those elements of their residences that are not problematic.

The types of requirements, limitations or exclusions that are applied vary according to the specific issue associated with a home or a homeowner.  For instance, a homeowner with a pet pit bull could obtain a policy that protects his or her home, but contains limitations on liability concerning dog bites from the family pet.

Functions of Specialty Homeowners Insurance

While such policies are not as inexpensive as policies for homeowners considered to be ideal by insurers, they do provide the coverage that homeowners need.  Specialty homeowners’ insurance policies provide coverage and protection for the same three general areas as conventional homeowners insurance: protection against loss, protection against damage and protection against liability.   In fact, many specialty homeowners’ insurance policies provide nearly identical coverage as conventional homeowners insurance.  The exception is the rider, limitation or exclusion attached to the particular circumstance that makes the homeowner or the home ineligible for conventional homeowners’ insurance coverage.

Obtaining Specialty Homeowners Insurance

Homeowners whose circumstances would disqualify them or their homes from obtaining conventional home insurance coverage should consider seeking insurers that specialize in specialty homeowners insurance. Doing so maximizes their chances of being able to obtain the insurance coverage they need – rather than having an insurer deny their applications.

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Esurance

Esurance

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Superior
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GEICO

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21st Century Insurance

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Allstate

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American Family

American Family

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Country Financial

Country Financial

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Superior
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Progressive

Progressive

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State Farm

State Farm

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The Hartford

The Hartford

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