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What is homeowners insurance?
Homeowners
insurance provides financial protection against disasters. A standard
policy insures the home itself and the things you keep in it.
Homeowners insurance is a package policy. This means that it covers
both damage to your property and your liability or legal responsibility
for any injuries and property damage you or members of your family
cause to other people. This includes damage caused by household pets.
Damage caused by most disasters is covered but there are exceptions.
The most significant are damage caused by floods, earthquakes and poor
maintenance. You must buy two separate policies for flood and
earthquake coverage. Maintenance-related problems are the homeowners'
responsibility. |
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