Personal insurance covers property and casualty insurance products for individuals. This insurance coverage helps protect individuals from potential losses they couldn’t afford to cover on their own and makes it possible to do things like drive a car and own a home without risking financial ruin.
It is a contract between you and the insurance company. You agree to pay the premium and the insurance company agrees to pay your losses as defined in your policy. Auto insurance provides property, liability and medical coverage: Property coverage pays for damage to or theft of your car.
A form of property insurance designed to protect an individual's home against damages to the house itself, or to possessions in the home. Homeowners insurance also provides liability coverage against accidents in the home or on the property.
Most homeowner's insurance policies include standard coverages like the following
- Dwelling (Home structure)
This type of insurance is what can help protect the physical structure of your home, like the walls and the roof.
This type of insurance can help protect the physical structure of buildings on your property that are separate from your home, such as a shed or a stand-alone garage.
- Personal Property
Personal property coverage can help protect the belongings inside your home, which can include belongings like furniture, bicycles, stereos and more. If these belongings are stolen or damaged outside of your home, personal property coverage could also help you replace them.
- Liability Protection
Liability insurance can help protect you if someone makes a claim against you or sues you for damages after being injured on your property.
- Guest medical protection
This type of coverage can help cover the cost of medical expenses for a person who's injured on your property.
- Additional Protection
Standard homeowners' policies include additional protection. One example of this is reimbursed living expenses coverage, which can help cover increased living costs like hotel stays in the event your home is uninhabitable after a covered loss.
A form of property insurance that provides coverage for a policy holder's belongings and liability within a rental property. Renter's insurance applies to persons renting or subletting a single family home, apartment, duplex, condo, studio, loft or townhome.
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