Homeowners insurance, also known as property insurance, is a form of insurance, coverage for any loss or damage that provides your home. Homeowners insurance typically refers to a single-family housing. Renters insurance is insurance for an apartment or condo. With homeowners, insurance is awarded financial compensation to you, when something to your personal belongings happens, including furniture, wardrobe and consumer electronics. To secure a mortgage, most lenders will require that you have homeowners insurance.
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