Homeowners Insurance In Oklahhoma: Home Owners Policy Types And Dwelling Policy Types
Homeowners Insurance Policies
With the passage of multiple-line legislation, the homeowners policy was setup to provide coverage that home owners typically need. The policy was meant to be a one indivisible contract that offers the kind of coverage every homeowner requires. This was then followed by policies for tenants of rentals and condominium owners, each designed to meet the unique exposures presented.
In general, homeowners policies are relatively inflexible, which means that what they cover and the limits are already predetermined and can only be changed by endorsements to the policy. However, regardless of this inflexibility, homeowners policies have quite a few key benefits to the policyholders:
- Single policy document
- Broader protections
- One insurer
- One expiration date