Property Insurance Coverage
What Does Property Insurance Coverage Mean?
Property insurance provides financial compensation for loss or damage to property and may also include liability coverage. There are different types of property insurance policies, each covering a variety of risks.
Insuranceopedia Explains Property Insurance Coverage
Property insurance encompasses various policies covering buildings, land, or personal belongings such as a car. The building might be a residential home or a commercial space, with coverage differing between the two.
For buildings, risks can either be specifically named and covered or included under an all-risk policy. The contents within the building can also be insured. If a policyholder feels the coverage is insufficient, they can add additional features, known as riders, at an extra cost.
In addition to covering loss or damage to the property, these policies may also include liability coverage, protecting the property owner if the property causes damage or injury to someone else or their belongings.
