Broad Form Home Insurance Quotes

Determining which of the three home insurance policy types is right for you depends on your property and the contents within your home. Broad form insurance is ideal for those with additional structures, like a pool or detached garage, for those who have pets (because pets increase the likelihood of a liability claim) or those who may not have somewhere to stay if they are temporarily displaced.

When choosing between broad form and comprehensive coverage, one consideration is the value of contents within your home. If you have expensive jewelry, electronics or collectibles, comprehensive may be the way to go. If not, broad form may offer all the protection you need at a lower price.

Different providers may offer slightly different coverage, but a standard list of perils that are usually covered by broad form home insurance include:

• Fire or lightning
• Explosion
• Electricity
• Smoke
• Broken windows
• Windstorm or hail
• Sudden and accidental water escape or rupture
• Falling objects
• Impact by aircraft, spacecraft, or land vehicle
• Riot
• Vandalism or malicious acts
• Theft including damage caused by attempted theft

This is just a general list. Check your policy to see what is covered. If a particular peril is not covered, it may be able to add it to your policy for an additional cost.

Certain events aren’t covered by broad form home insurance. They mainly come down to natural wear and tear and accidental damage. Examples include:

• Lost items, such as losing an earring
• Accidental damage, rips, and power surges
• Property risks, such as terrorism and war
• Damage from birds, rodents, insects and other pests
• Damage from your own pet
• Wear and tear, such as rot or condensation

If you want more coverage than what broad form home insurance provides, you have two options. First, you can add a specific peril to your coverage for an added cost. If, for example, overland water damage wasn’t covered, you may add it as a policy rider. The alternative to augmenting your coverage with riders is to switch to a comprehensive home insurance policy. Comprehensive policies offer greater coverage than broad form policies, but tend to be more expensive.

Choosing between a broad form policy with riders and a comprehensive policy will come down to cost – is it more economical to add one or more riders or to upgrade the whole policy.

Yes. If your policy does not protect against a certain peril – e.g. fire – any claim for damage caused by a fire will be denied. Likewise, if you make a claim that states damage was caused by a peril that is covered by your policy, but that the claims adjustor determines was actually caused by something else, your claim will be denied, and your policy may even be cancelled.

The more thorough your coverage, the less likely your claim will be denied. Comprehensive insurance policies have the highest rates for claim approval, followed by broad form, followed by named perils.