The type of property insurance that covers private homes. This can include losses occurring to one’s home, its contents, loss of its use, or loss of personal possessions. It also includes liability insurance for accidents that happen at the home, or at the hands of the homeowner, within policy territory.
Dwellings with a coverage of $300,000 or higher are designated as high value homes. This ensures that your valuables are given extra consideration and items such as silver, jewelry, watches and furs receive special limits higher than those found in a regular home policy. The coverage provided is broader than that of a standard home. Home and personal property are both insured for all losses, except those which are specifically excluded. With this policy, you will receive up to $1,000 coverage for food spoilage or losses caused by electrical interruptions, including blackouts. Travelers will pay up to $500 for lock replacements in the event that your house keys are lost or stolen.
You, not the condo association, are responsible for what is inside your condo. A basic condo insurance policy is from the walls in, and covers damages to most of your personal belongings, as well as floors, walls, and ceilings.
Renters insurance protects you from fire, theft, water damage and other unforeseen circumstances. It usually includes personal property and personal liability.