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There are five types of homeowner's policies where content is mandated by each individual state. While the basic coverage for each type of policy is going to be the same for each company, there are some optional variations between different carriers. Your agent can explain the differences between the various contracts to you. Let's take a look at the five basic types of Homeowners' policies:
IMPORTANT NOTE: The Classifications HO-1, 2, 3, etc. are used in policies issued on forms based upon those of the Insurance Service Office (ISO). Other carriers may use forms of their own design not utilizing the ISO "HO" convention of naming. In all cases, coverage is substantially similar due to the mandated forms of protection in each state's version of the form.
There are two additional classifications of coverage for residential insurance other than those of a dwelling owner:
Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Heartland Bank and Heartland Planning Associates are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using Heartland Planning Associates, and may also be employees of Heartland Bank. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of, Heartland Bank and Heartland Planning Associates. Securities and insurance offered through LPL or its affiliates are:
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