What is the difference between homeowners insurance and property insurance?

What is the difference between homeowners insurance and property insurance?

Homeowners insurance covers liability, which you face if a visitor suffers injury or property damage while on your property. Unless you purchase a separate liability policy or add this coverage to your policy with a rider for a separate premium, standard property dwelling insurance does not come with this protection.

Is homeowners insurance the same as property insurance?

Property insurance refers to a series of policies that offer either property protection or liability coverage. Property insurance can include homeowners insurance, renters insurance, flood insurance, and earthquake insurance, among other policies.

Are there different levels of home 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.