What are the different types of property insurance?
There are two primary types of real estate insurance that are coverage of residential and commercial coverage. There are several subcategories in each of the two primary categories. Five primary subcategories of real estate insurance is a dwelling or structure insurance, fire insurance, content insurance, earthquake insurance and homeowners insurance. This type of insurance includes damage to home or structure. Usually, if the building is damaged from some danger, such as a tree falling on the roof during a windstorm, it provides real estate insurance needed to repair damage. The fire insurance provides coverage of real estate that is damaged from the fire. The fire insurance policy provides the owner of the property the amount of money needed for the retain structure to its condition before damage to the fire.
Content insurance is another different type of property insurance. These policiesThey cover the replacement of real estate content such as furniture, electronics and personal belongings. In general, content insurance includes personal assets, whether stolen or damaged due to any danger that takes place on the assets. Even tenants have the ability to introduce the policy of content. For tenants who have this type of policy, it again protects only theft or damage to personal assets. The landlord or property owner would still be responsible for the transport of one of the other types of real estate insurance.
Earthquake insurance includes damage to assets that is the direct result of the earthquake. An earthquake policy is usually a special rider or a special type of policy. Coverage earthquake does not tend to come up with a typical property insurance. While anyone who owns property can opt for an earthquake insurance, they are usually real estate owners who are in areas known earthquakes that carry this type of property insurance.
insuranceHome owners are another type of property insurance. Home owners are specially for residences, so it does not cover commercial or commercial properties. Home owners' policy may vary in types of items that cover, but in addition to covering home damage, home owners have a tendency to bear liability insurance. This type of policy protects the property owner if someone is injured on property or inside the house.