In real estate, Homeowners’ Insurance is a type of property insurance that provides coverage for damage to a home as well as protection for personal belongings. It also typically includes personal liability coverage, which protects the homeowner against claims for injuries or property damage suffered by others on the premises.
In addition to coverage for hazards such as fire or theft, homeowners’ insurance may include additional protections depending on the policy terms. Lenders commonly require homeowners’ insurance as a condition of mortgage financing to protect both the homeowner and the lender’s interest in the property.
