Other property structures, and personal belongings are covered by homeowner’s insurance, which is also known as home insurance.
It protects you from natural disasters, unanticipated damage, theft, and vandalism. Another kind of insurance for homeowners is renters insurance.
Floods and earthquakes are not covered by homeowner insurance; you will need to take additional precautions against them.
You will probably be required to have homeowners insurance by your landlord or lender.
If you do not have coverage for your home or stop paying your insurance premiums, your mortgage lender can buy homeowners insurance on your behalf and charge you for it.
Businesses purchase insurance policies to cover risks specific to their industry. For instance, a fast-food restaurant’s policy might cover injuries sustained by employees while using a deep fryer.
Liability claims brought against a health care provider for negligence or malpractice are covered by medical malpractice insurance. State law may require businesses to purchase specific insurance policies.
