Home Insurance

Home insurance, also commonly called hazard insurance or homeowners insurance (often abbreviated in the real estate industry as HOI), is the type of property insurance that covers private homes. This is an insurance policy that combines various personal insurance protections which can include losses occurring to your home, its contents, loss of use (additional living expenses) or loss of personal property owners and other liability insurance for accidents that may occur at home or in the hands of the homeowner policy in the territory. Is necessary that at least one of the named insured occupies the home. Housing policy (DP) is similar, but used for residences which do not qualify for various reasons, such as vacant / unoccupied, temporary residence / school, or age.

This is a multi-line insurance, meaning that includes both property and liability, with an indivisible premium, meaning that a single premium is paid for all risks. Standard forms divide coverage into several categories, and coverage is generally a percentage of the coverage of A, which is the principal dwelling coverage.
The cost of homeowners insurance often depends on what it would cost to replace the house and that other riders-additional items to be insured to join politics. The insurance policy itself is an extended contract, and names what will and will not be paid in the case of multiple events. Generally, claims due to flooding or war (whose definition typically includes a nuclear explosion from any source), among other exclusions based (like termites) are excluded. Special insurance can be purchased for these possibilities, including insurance against flooding. The insurance must be adjusted to reflect the replacement cost, usually after applying a factor of inflation or cost index.
The insurance policy is usually a contract, a contract clause is in force for a period of time. The payment the insured makes the insurer sets the premium. The insured must pay the insurer the premium each term. Most insurers charge a lower premium if it appears less likely that the house was damaged or destroyed, for example, if the house is located next to a fire station and is equipped with fire sprinklers and fire alarm, if exposure of the house after mitigation measures, such as hurricane shutters, or if the house has a security system and approved the insurance block installed. On perpetual insurance, a type of home insurance without a fixed term, can also be obtained in certain areas.