WHAT IS Homeowner's INSURANCE?
A homeowners insurance policy can protect your home against damages that occur to the house itself and the belongings inside. Homeowners coverage can also protect your property, some of your personal possessions and you. It’s a package policy that combines two types of coverage:
- Coverage against your property being destroyed or damaged by certain perils, such as fire, theft and windstorm
- Coverage for liability exposure – for example, someone being injured on your property
For instance, if something unexpected occurs, such as a fire or burglary, homeowner's insurance will help pay for destruction and losses. In addition, a home insurance policy may provide liability coverage for accidents that occur on your property (including both property damage and bodily injuries incurred by visiting guests) and may even cover certain accidents that occur off your property.
There are several different coverage types built into a home insurance policy.
WHAT IS Renter's INSURANCE?
If you live in a rented apartment, condominium or home, you need to protect yourself, your space and your stuff. Some managed communities even require that you have a certain amount of renters coverage as part of your lease agreement. Typically, your landlord’s policy won’t help if your belongings are stolen or damaged. For that you need renters insurance.
A renters insurance policy is a group of coverages designed to help protect you and your belongings. A typical renters insurance policy includes liability coverage, protection for your belongings and coverage for additional living expenses, should the home you are renting become temporarily uninhabitable. While you may not always be able to prevent certain situations, such as a break-in or visitor's injury, renter's insurance, sometimes referred to as "tenant insurance," may help minimize the impact, whether you're renting a single-family home or an apartment.
Protect your possessions and help pay for unexpected expenses with affordable renter's insurance.