Is Home Insurance and Homeowners Insurance the same thing? |
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Answer:
Not necessarily. While the names are similar, the definitions Homeowners insurance is a specific type of home insurance available to homeowners who live in their own single family homes. It covers both the structure of the home from covered losses such as fire, burglary, and storms as well as the contents of the home up to policy limits. Because other types of homes exist besides single family homes, other types of home insurance policies are available to meet the specific needs of these alternative types of housing. Condo owners and mobile home owners have different needs therefore the type of insurance they buy to protect their home and property is tailored to meet these needs. Another type of home insurance is available for those who are not homeowners. Renters insurance covers personal property of the renters should the home they are renting suffer a loss. Typically, landlords only insure the structure, not the renters’ personal property. Trackback(0)
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