Property insurance typically does not typically cover damage caused by normal wear and tear or by a home’s age.
Mold and insect damage may also not be covered, depending on the policy.
What are the main types of things that homeowners insurance covers?
Damage to the building’s structure, personal property damage or loss, liability in the event of a lawsuit.
Medical expenses for the injured party, and additional living expenses for when you need to be away from your home while repairs are being made due to a covered event are all covered by a typical homeowners insurance policy.
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.
