![]() The cost of homeowner's insurance often depends on what it would cost to replace the house and which additional endorsements or riders are attached to the policy. Coverage limits are typically provided as a percentage of the primary Coverage A, which is coverage for the main dwelling. uses standardized policy forms that divide coverage into several categories. It may also include damage caused by household pets. This means that it covers both damage to one's property and liability for any injuries and property damage caused by the owner or members of his/her family to other people. Homeowner's policy is a multiple-line insurance policy, meaning that it includes both property insurance and liability coverage, with an indivisible premium, meaning that a single premium is paid for all risks. A standard home insurance policy insures the home itself along with the things kept inside. 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 possessions of the homeowner, as well as liability insurance for accidents that may happen at the home or at the hands of the homeowner within the policy territory.Īdditionally, homeowner's insurance provides financial protection against disasters. ![]() 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. ( May 2016) ( Learn how and when to remove this template message) Please help improve it to make it understandable to non-experts, without removing the technical details. This article may be too technical for most readers to understand.
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