What it covers:
A homeowners’ insurance policy can protect your home against damages that occur to the house itself – and the belongings inside. Homeowners coverage can also protect your property, some of your personal possessions and you. It’s a package policy that combines two types of coverage:
- Coverage against your property being destroyed or damaged by fire and allied perils like flood, earthquake, wind storm and etc
- Coverage for liability exposure – for example, someone being injured on your propertyFor instance, if something unexpected occurs, such as a fire or burglary, homeowner’s insurance will help pay for destruction and losses.
- Cover for burglary – It provides cover for the contents of the building