11 Facts About Home insurance

Home insurance, commonly called homeowner's insurance, is a type of property insurance that covers a private residence.

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.

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.

The insurance policy is a legal contract between the insurance carrier and the named insured.

Special Home insurance can be purchased for these possibilities, including flood Home insurance.

Perpetual Home insurance which continues indefinitely can be obtained in certain areas.

Home insurance offers coverage on a "named perils" and "open perils" basis.

The Home insurance is often misunderstood by its purchasers; for example, many believe that mold is covered when it is not a standard coverage.

Homeowner's insurance has been relatively unprofitable, due in part to catastrophes such as hurricanes as well as regulators' reluctance to authorize price increases.

The remainder had the HO-6 Unit-Owners policy, known as a condominium Home insurance, which is designed for the owners of condos and includes coverage for the part of the building owned by the insured and for the property housed therein.

Contents Home insurance covers personal effects such as furniture, clothes, electronics, jewelry, etc.