Liability claims and losses of property or personal belongings due to physical damage are typically covered by homeowner’s insurance.
In contrast, the umbrella term “property insurance” refers to a variety of policies that provide protection against hurricanes, earthquakes, and floods.
Renters insurance is typically used to refer to HO4 property insurance. Tenants are protected from personal property loss and liability.
However, it does not cover the actual rental property, which ought to be covered by the landlord’s insurance policy.
Keep in mind that none of these coverage levels will reimburse the homeowner for property.
That fails or is damaged as a result of more typical wear and tear, such as a roof that begins to leak without being damaged by hail or wind.
That’s where home warranties can be helpful as an additional means of protecting your property.
