homeowner's insurance policy

Homeowner's insurance policy

An insurance policy protecting a homeowner against damage or loss to property.

Homeowner's Insurance

Insurance that the buyer of a private residence purchases providing coverage for most damage to the residence. Typically, homeowner's insurance covers damage from fire, deliberate or accidental destruction of the home by a person, and other, similar matters. Nearly all homeowner's insurance policies exclude acts of God like earthquakes and floods from coverage, though one may buy supplementary policies to cover these eventualities.

homeowner's insurance policy

An insurance policy tailored for most homeowners with a package of coverages and endorsements designed to address most risks. Usually includes coverage for the main structure, a certain percentage of that in additional coverage for outbuildings, a certain percentage of additional coverage for contents, reimbursement for rental expenses and cleanup costs in the event of significant loss, and liability coverage in case anyone else is injured on the property as a result of a condition or defect of the property.

References in periodicals archive ?
A state official said, 'With severe weather in the forecast, it's a good time to review your homeowner's insurance policy, since standard homeowner policies do not cover hurricane and flood damage.
USAA's homeowner's insurance policy provided coverage for bodily injury caused by an:
Before they strike, take an inventory of valuable items that require the protection of a homeowner's insurance policy.
Since every household insurance policy can be different, the first step in assessing your coverage for natural disasters is to read your homeowner's insurance policy to determine both what risks are covered and what risks are excluded.
However, the purchase of a separate worker's compensation policy or additional no-fault medical coverage under a homeowner's insurance policy is a good way to protect everyone's interests.
Only 12 percent of homeowners statewide purchase earthquake insurance, and damage from quakes is typically not covered under a standard homeowner's insurance policy, according to the Insurance Information Network of California.
Reversing a trial court's decision, a California appellate court has ruled that a motor vehicle exclusion in a homeowner's insurance policy barred coverage of claims against the insured homeowner and his wife after he accidentally ran over his granddaughter with his pickup truck.
For example, more than two in five Americans (41%) believe that a standard homeowner's insurance policy protects against mold damage.
Keep photos or videotape in a heat-resistant safe or a safety deposit box, along with your homeowner's insurance policy.
If a tree falls and damages an insured home, both the damage to the property and the cost of tree removal are typically covered within the limits of the homeowner's insurance policy.
NEW YORK, April 25, 2013 /PRNewswire/ -- More than four in five Americans (81%) know that a standard homeowner's insurance policy doesn't cover flood damage, according to new research from Bankrate.
Damage from flooding, including flooding caused by a hurricane, is not covered by a standard homeowner's insurance policy so consider purchasing a separate flood insurance policy.

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