The four types of homeowner insurance coverage are as follows:
- Comprehensive covers
- Basic peril covers
- Broad covers
- Personal liability covers
Types of Homeowner Insurance Coverage
1. Comprehensive covers
This type of insurance cover protects the building and its contents except those specifically excluded from the policy contract. For example, a policy may cover the building and the furniture and fittings and exclude the jewelry due to its lack of high value.
2. Basic peril covers
These homeowner insurance covers protect a specifically documented risk as a policy. A homeowner deciding that fire outbreaks are prone in their area may decide to cover the building against the risk of fire.
3. Broad risk covers
A broad homeowner’s insurance policy may cover a high-priced item such as the building and other stated items.
4. Personal liability covers
This type covers one or third parties from bodily injuries or caused unintentionally to the property of others.