Define Homeowners Insurance

Standard homeowners insurance protections.

Define homeowners insurance. Burglary a slip and fall by a guest fire damage tree damage and water damage all cost money to. Homeowner s insurance definition is insurance that covers damage to a person s house or the things inside the house. If a policyholder is sued for damages that exceed the liability limits of car insurance homeowners insurance or other. Perils are hazards and events that can cause loss or damage such as fire wind snow or vandalism.

Homeowners insurance is a contract between an insurance company and a homeowner to cover certain types of damage to the property and its contents theft of personal possessions and liability in case of lawsuits based on incidents or events that occur on the property. Covered peril in homeowner s insurance refers to the types of damage for which your insurance company will pay. Homeowner definition a person who owns a home. A standard homeowners insurance policy insures your home s structure house and your belongings in the event of a destructive event such as a fire.

Umbrella insurance is often referred to as excess liability insurance. Home insurance also commonly called homeowner s insurance often abbreviated in the us real estate industry as hoi is a type of property insurance that covers a private residence it is an insurance policy that combines various personal insurance protections which can include losses occurring to one s home its contents loss of use additional living expenses or loss of other personal. Homeowner definition is a person who owns a home. Homeowners insurance provides you with financial protection in the event of a disaster or accident involving your home.