What Is Homeowners Insurance?

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Homeowners insurance is a package policy that covers not only the structure itself, but also the contents of the house and any injuries that occur to a third party. Purchase homeowners insurance when buying a house, refinancing a house or renting an apartment with information from a licensed insurance salesperson in this free video on insurance.

Part of the Video Series: Insurance Facts
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Video Transcript

Homeowner's insurance is a package policy that you would purchase when purchasing a home, or refinancing a home or if you have a home or possessions or are renting an apartment. It actually covers, not only the structure itself, but would cover the contents in the structure. So, meaning all your personal possessions, clothing, furniture, books, dishes, silverware, anything you have within the home as well as the structure itself. And the reason it's a package policy is because it also covers your personal liability, meaning it would cover you for any injuries to a third party, or damage to a third party's stuff that's caused in any way by you other than by using your automobile, because that would be covered by an automobile policy. Personal liability insurance is very important. If someone comes to your home, and, say they trip and fall and are injured and you're responsible in some way and are subject to a lawsuit, your homeowners policy would react to defend you and pay for damages in that case.

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