Phabbyfundz
Active member
The typical home owners insurance policy covers the house, the garage as well as other structures on the property including other personal possession inside the house such as furniture, appliances and clothing's, against a wide variety of perils including windstorm, fire and thefts. The extent of the peril covered depends on the type of policy.
An all risks policy offers the broadest coverage. These policy covers all perils except those specifically excluded in the policy. Homeowners insurance also covers additional living expenses. Known as the loss of use, this provision in the policy reimburses the policy holder for the extra costs of living else where while the house is been restored after a disaster. The liability portion of the policy covers the home owners for accidental injury.
An all risks policy offers the broadest coverage. These policy covers all perils except those specifically excluded in the policy. Homeowners insurance also covers additional living expenses. Known as the loss of use, this provision in the policy reimburses the policy holder for the extra costs of living else where while the house is been restored after a disaster. The liability portion of the policy covers the home owners for accidental injury.