Homeowners Insurance is one of the oldest types of insurance – Find the right type of Homeowners Insurance from the list, In the United States, homeowners insurance started out as fire insurance, since many of the buildings were made of wood, the firemen would only put out the house fires where the homeowner had a plaque on the house, identifying it as having paid for the fire protection service. Over the years homeowners insurance has expanded to include many different types of products like: renters insurance, and inland marine floaters (for precious papers or objects in the home) condo owners insurance and townhouse owners insurance and many other types even within these categories.
Home insurance is important for the renter as well as the homeowner, it now contains coverages for such exposures as: fire, theft, wind, vandalism, liability of the homeowner, and other risks. Some insurance carriers offer broader forms and some restricted forms, so it is very important to read and understand your policy. Remember in homeowners insurance, generally the land value is separate from the house value which is separate from the contents (furniture). Generally speaking you need not insure the land as it will be there even if the house and contents are not. There are however, other coverages to insure land, like land title insurance, which many of us purchase when we buy a home.
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Homeowners Insurance State Guide
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