Homeowner's insurance

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.

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.

To obtain the insurance, which is based on the value of the home and what is covered in the policy, you pay a premium set by the insurance company.

For each claim there's generally a deductible -- a dollar amount -- that you must pay before the insurer is responsible for its share. If you have a mortgage loan, your lender will require you to have enough homeowners insurance to cover the amount you owe on the loan.

Homeowners insurance policies vary substantially from contract to contract and from insurer to insurer as well as from region to region. Almost all policies have exclusions, which are causes of loss that are not covered. All the coverage and exclusions of a particular policy are spelled out in the terms and conditions.

References in periodicals archive ?

Don't miss out on potential discounts on homeowner's insurance.

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DESCRIBE YOUR BUSINESS: I videotape homes and valuables and scan all documentation for people with homeowner's insurance.

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Homeowner's insurance policy--A package insurance policy providing property and liability coverages tailored to the needs of most homeowners, condominium owners and apartment tenants.

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And, as premiums increase, homeowner's insurance, usually a prerequisite for buying a house, becomes out of reach for many middle- and low-income Americans.

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While the pieces were worth $5,000, having appreciated more than 200% since she bought them in 1974, Flannagan assumed her homeowner's insurance would cover the loss.

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Many music professionals believe their homeowner's insurance will provide coverage for their instruments.

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Many insurance companies, including Prudential, AAA and Nationwide Mutual Insurance, have developed their own lists and won't give renter's or homeowner's insurance to owners of these dogs.

INSURANCE BLACKLIST HAS TEETH SOME FIRMS DENY POLICY IF HOME HAS CERTAIN DOG

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.

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Install deadbolt locks and alarm systems, which may qualify for homeowner's insurance discounts.

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