What two kinds of protection does a homeowners insurance policy include?

Which kinds of protection does homeowners insurance offer quizlet?

Typical homeowners insurance policies offer coverage for damage caused by fires, lightning strikes, windstorms and hail. But, it’s important to know that not all natural disasters are covered by homeowners insurance. For example, damage caused by earthquakes and floods are not typically covered by homeowners insurance.

Which kinds of protection does homeowner’s insurance offer?

A standard homeowners insurance policy provides coverage to repair or replace your home and its contents in the event of damage. That usually includes damage resulting from fire, smoke, theft or vandalism, or damage caused by a weather event such as lightning, wind, or hail.

What are the two types of coverage provided by a homeowner insurance policy quizlet?

every homeowners policy requires that coverage be provided for both personal property and personal liability. if the insured owns the dwelling, the structure and its contents must be insured.

What main coverages are included in home insurance policies quizlet?

Homeowners policies automatically provide an amount of insurance in Coverage B that is equal to 10% of the amount written as Coverage A. Collapse. The primary coverages are Coverage A – Dwelling, Coverage B – Structures, Coverage C – Contents, and Coverage D – Loss of Use.

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Does homeowners insurance gives you both property and liability protection?

Homeowners insurance is a package policy. This means that it covers both damage to property and liability or legal responsibility for any injuries and property damage policyholders or their families cause to other people. This includes damage caused by household pets.

What is not protected by homeowners insurance?

Termites and insect damage, bird or rodent damage, rust, rot, mold, and general wear and tear are not covered. Damage caused by smog or smoke from industrial or agricultural operations is also not covered. If something is poorly made or has a hidden defect, this is generally excluded and won’t be covered.

What are the three types of coverages for homeowners insurance?

Homeowners insurance policies generally cover destruction and damage to a residence’s interior and exterior, the loss or theft of possessions, and personal liability for harm to others. Three basic levels of coverage exist: actual cash value, replacement cost, and extended replacement cost/value.

What is specific type of insurance policy?

Specific insurance is a type of property insurance in which only one individual property is covered by the policy. Specific insurance is an alternative to blanket coverage, in which a policy can cover many different properties or locations.