Homeowners Insurance
What Does Homeowners Insurance Mean?
Homeowners insurance is a type of property insurance that protects a private residence from damage. It often includes coverage for personal possessions and liability protection against accidents that occur inside or on the property. Additionally, it covers the contents of the home in the event of an approved peril, which is typically outlined in the policy.
Homeowners insurance is also commonly referred to as a homeowners policy.
Insuranceopedia Explains Homeowners Insurance
A homeowners insurance policy outlines the coverage limits for each category. For example, it may provide $100,000 for the structure of the home, $40,000 for personal belongings, and $500,000 for liability coverage. However, homeowners insurance does not cover all types of losses, such as earthquakes, floods, acts of war, and other catastrophic events. It is important to check with your agent to understand the specific perils covered by your policy. If necessary, you can ask about additional coverage options for risks like floods, earthquakes, or other supplemental products.
