Homeowners' insurance is a specific type of property insurance. Homeowners'
insurance covers damage or loss by theft and against perils which can include
fire, and storm damage. It also may insure the owner for accidental injury or
death for which the owner may be legally responsible. Mortgage lenders
usually require homeowners' insurance as part of the mortgage terms.
The standard homeowners' insurance policy is divided into several component
- Coverage A Dwelling
- Coverage B Other Structures
- Coverage C Personal Property
- Coverage D Loss of Use/Additional Living Expenses
- Coverage E Personal Liability
- Coverage F Medical Payments to Others
- Additional Coverages
While Homeowners' Insurance can specifically refer to the insurance of a
house, it also encompasses the insurance of other types of structures associated
with personal residences including tenants (renters) and condominium unit